The sun. [volume] (New York [N.Y.]) 1833-1916, 1915-12-07
FINANCIAL NEWS
AND COMMENT
Strength Develops in Stocks
on Tendency to Renewed
Activity.
RAILS AMONG n

All OF the speculative markets dis
played symptoms yesterday Of returning
animation. and an Interesting feature
was the colncident display Of rising firm
ness. Tendencies toward an Increase
Of activity were displayed in stocks and
a demonstration OF strength was the
product. There was similar activity and
strength In grain and cotton.
Wall Street was not inclined to draw
premature and sweeping differences IRON
he aspects of the stock Exchange day,
for the more or less reactionary inertia
of the last few weeks had been re-
lleved by brief intervals Of strength
which was not sustained. At the same
time tie stock market did give indica
tions that a new FORWARD movement
might be In PROCESS OF developing. The
opening WIS quiet al practically un.
changed prices. but steadlness was dis
played in the early dealings and a~ctivit,
cnsucd. with rising prices. The upturn
was limited in the forenoon to indus
trial specialities chiefly, but after an
interim of comparative duiness follow
ing the first hour the manifest alb
seilce OF selling pressure had tho con-
sequence of increased activity In the
last hour. which was the busiest period
OF the day. The movement broadened
materially in the late trading. rails
becoming aggressive leaders, and the
close was nj practically the hest figures
OF the session, with a substantial array
OF all around gains for the day.
Buying was largely of professional
origin and included a good deal Of short
covering. but 1t was evident that stocks
were not easy to get. although Il had
been 10 easy to depress quotations re-
Gently. New York Central was con-
spicuous in the railroad list for its ag-
gressive strength. Utah and Anaconda
Copper and General Motors and the
motor group were prominent in the
transactions, but strength extended to
all varieties OF shares. Bonds were
strong and II was not apparent that
persistent foreign liquidation Of bonds
and investment stocks was to he ex-
pected In n volume sufficient to tax
absorptive capacity. The continuing re-
turn of our securities from abroad was
undoubtedly reflected In the maintenance
of a firin market for sterling exchange.
One Of the influences In the stock
market ut the outse, OF the week was
the way in which the market had acted
lately under speculative pressure and
In the face OF adverse considerations de-
rived from the European news and from
WINS afu NoItbtflRtlSlNs III
the category Of home and international
politics. II had been evinceJ hat
quoted values enjoyed sturdy support
from the prosperous condition OF gen.
eral business and the plethoric ease OF
the monetary situation. There seemed
accordingly to he more disposition yes
terday to look Onward to further slim
ulating developments. which might be
reasonably anticipated In the field Of
values. notably from processes Of dis
tributing the profits which have been
accommodating in this years business eX-
pansion.
The declaration OF a regular dividend
OF H.. per cent. on Allis -Chalmers pre-
ferred mi IL per cent. on account Of
the dividends which have accumulated
might be taken as II token OF cxpecta-
lions which are entertained in the mat
ter of corporate disbursements. Ii Is
not so very long since the Allis-Chalmers
stocks we're dealt in AZ though they
were the shares Of a hopelessly bank
rupt property.
Naturally the increase OF diplomatic
difficulties with Germany was widely
discussed, but there was AN apparent
feeling n the financial district that the
risks os our relations TO the war are
diminishing rather than growing with
the progress OF the conflict. As to the
q feeling about politics inspired by the
opening Of the Congressional session
the prevailing sentiment seemed to be
that Federal legislation was likely to be
constructive on balance II anything was
accomplished in the way Of other than
routine enactment. The financial COM
munity was particularly hopeful that
reports crediting the Administration
will a programme %favoring n more
! liberal policy of railroad regulation
would prove veracioua.