The sun. [volume] (New York [N.Y.]) 1833-1916, 1915-11-28
FINANCIAL NEWS
AND COMMENT
Quiet Session, With Stock List
Showing Underlying
Firmness.
FEATURES OF THE WEEK

Thc scalc Of trading IN the stock mar
kct yesterday was affected toward con-
traction by the Army-Navy football en-
gagpmonts of many members of the Wall
street community. Week end conslders-
lions and the weather were also factors.
In the first hour there was a good deal
OF irmness. but advancing tendencies
did not develop strongly except In a few
special directions and tho professional
trading dement, which could not forget
ITS recent bearishness. proceeded to sell
the list. As "a result the market for the
day had an irregular and m uncertain
surface aspect. but the general tone dis
played was good enough to qualify trad
ing trarlshness with a large element OF
caution.
News over night contained nothing ex-
c,pt another riso In copper metal 20
stimulate dealings one way or the other.
Further nrrnness developed In the mar
ket for foreign exchange with aome or
the European neutral countries and the
receipt Of I 1000. 900 more gold car-
ried the total importation for the year
go far into the neighborhood of $780,
cor, 900. IL IL mail wonder that with
these incessant gold arrivals tho domeS-
TIC money market ~ SnOW1r1R WsdkTcsh
NJ a time of the year when We are &C
,ustomed to experience more or less
S~triugency.
During tho Wall Street week tho
autumn selling movement In the stock
market appeared to have approached
q conclusion with little moro than trad
1R. operations for the short account
6, nsonal influences additionally making
for reaction seemed to have had an ade-
uuately appropriate recognition. and re-
dictionary tendencies encountered in
creasiRg resistance from tho condition
az the money market and general busi-
ncss. Lending rates fell to the owest
~ the year. while trade and industry
prcgressrd toward new levels OF volume
and value.
War advices were less p~reponderantly
adverse TO the Allies. although Wall
Street is not hastcning TO anticipate n
fresh turn in the tide OF war gains
che Ttutouic Powers. There Is still some
speculative trouble borrowing because
of the coming session OF Congress. but
the substantial financial feeling Is that
disturbing features OF the Congressional
session will probably not get much be-
:onj tho stage OF talk.
Business features sustained optimistic
positions. The trade and Industrial ait
~ - SUNNI A'''is 'f' 'p IS '"'
statement that November railroad earn
3ngJ AVE continued the expansion of
recent months. The October reports
which are now being published show
record breaking gross Incomes. both
Fast and West. and heightened operat-
inr efficiency is yielding large net gains
which are conducting 10 a campaign of
Il W railroad financing. This has been
started by the Atchison with n pre-
ferred stock sale and by the Baltimore
and ohio with a sale OF %refunding bonds.
Altogether the most important mar
ke;wisr event OF the week was the
announcement Of the formation Of the
American International Corporation "a
develop II cultivate permanent business
rela rs with other nations. The prof.
oct looks far ahead and the results Of
II VIII ~oc"umuiate rather slowly. hut II
hHs much present Significance as show
IN tie optimistic readiness OF corporate
cQ.tgl 90 branch out in new enterprise.