The sun. [volume] (New York [N.Y.]) 1833-1916, 1915-11-23
FINANCIAL NEWS
AND COMMENT
Further Contraction of Trad.
ing in StOcks-Prices
Harden q Little.
BIG GAINS IN EXPORTS

Dealings in the stock market yester.
day continued under the control OF tho
same influences and considerations
which began to assert themselves a
week ago. The indications then pre-
sented OF the development of a ma
ket more or less exclusively restricted to
professional trading were emphasized.
for there seemed to be little else thar pro-
fesslonal operations In the dealines
Trading sentiment was still rather bear
!sh, but the share list offered much quiet
resistance to sales and the situation was
reflected chiefly in a s%hrinkaee Of trans
actions to the smallest volume in many
weeks.
Tho Thanksgiving holiday seemed to
mark in the Wall street view an OBJ
jective point after which some more def-
mite trend or tendency might appear In
quoted values, but before which II was
not to be expected that investment and
speculative activities would pick up
again. This. like other commentaries Of
the Wall street community, Is interest
ing largely because conjectures Of the
sort crop out in a Stock Exchange In
terlude such as that which has been
entered upon following the speculative
activity and excitement Of the year.
Wall Street talks much about the
coming session OF Congress, the dis
ouleting aspect of the European war In
the Balkan theatre and about the rapid
broadening out of trade and industrial
enterprise this autumn as though the
general business improvement denoted
the utmost pitch of betterment con.
ceivably a~ttainable. The share list Is
discussed in terms OF staleness and It is
quite likely that the prevailing impulses
OF the year so far have lost much force
since the great rise in the war stocks
ran recently Into the sharp reaction
which has been maintained this month.
However. the facts outside the market
and all the conditions which go TO de-
termine values suggest that Wall Street
Is passing through a rather familiar
interval OF rest and sober second thought
winch lis not only desirable. but without
prejudice to the prospects for a renewal
or constructive endeavors.
There was less activity In the bond
department Yesterday, AS we'll as IN
Stocks, but the investment quarter lost
none OF IT'S nrrnness. feature or the
BOND trading was the sale or 100000
OF United states : per cents, as large q
quantity OF dealing In any II bond as
mas ever occurred IL any single STOCK
EXCHANGE session. The stock market
was IN the main not only less heavy
than last week, nut displayed some signs
OF ralIylhg. Inc war STOCKS made some
substantial upturns, although purchases
were apparently Tor snort" rather n
long account. In the last hour reces
slons were general. but the market did
not make any obvious response TO the
unsettlement and weakness of the New
Haven shares, which were singled out
for the sudden application of selling
pressure.
News over the week end and during
the day was OF preVailingly optimisti,
tenor with the exception OF the var ad
vices. which still left the financial ON
munity very mucn In the dark as u
European southeast, The domestic
trade situation was well indicated by tn,
upproach OF the copper metal marke
toward the level of 20 cents a pound
The reports Of railroad results foI
October We're ushered In by several I'm
portJnt statements which ~inaugurate,
what will probably he q series OF tn
most brilliant returns which the com
mon carriers have ever published. Tn,
Baltimore and Ohio showed "A gross gail
OF more than So OO, O00 and Lehigh Val
ley gained S52s 900 in gross. The re
sultiug increases In net earnings wer
satisfactory and not the least strikin,
feature of the reports was that Octobe
EIpNS ttItl!ISS Represented SupSldIlllh