The sun. [volume] (New York [N.Y.]) 1833-1916, 1915-06-11
FINANCIAL NEWS
AND COMMENT
Broad Buying Movement Car
ries Stocks Strongly Up
ward, Closing at Best.
HOPEFUL ABOUT NOTE

An impressive exhibition Of strength
was given By the stock market yesterday
by way Of rejecting an wen more i'm
nressive condition Of financial conh.
dence. Dealings were not In %extraordi.
nary volume. although they were on a
scale Of activity equal to the selling ses
sion on Wednesday. On equal aggre
gates Of trading quoted values yester.
day readily recovered more ground thar
they had lost on the day before and sus
sested that weak sellers had again
parted with their stock or their con,
tracts 10 strong buyers. At the clos,
prices were moving forward and the
hnal level was practically the best o
the day. The average net gain was sub.
stantial. but a large number OF extern
sly advances were made In q consider
able variety OF issues.
Rather contrary to Wall Street expec.
tations at the outset OF the market thert
was much buying at the market and no
awaiting declines as had been the Gas,
for some time past. There was indica
ton here of a confident attitude in som,
quarters and throughout the session tn,
way In which purchases followed prices
up. without any evidence OF increased
professional activity or public partici
patton, was Interpreted to signify ABSORB
ton for important financial Interests
These indications were more or less cor
roborated by the breadth OF the buyin,
movement. for issues of all descriptions
from war stocks and s~pecialties e
standard shares. were included In th'
accumulation. whereas professiona
speculative favor Of late has run ONLY
10 the war stocks.
A permissible inference from the as'
poets of the market was that the pub
lished advices from Washington respect
Ing the new note TO Germany had beer
construed as p~ortending a release o.
Wall Street from q good deal of re
straint. in which event no market wal
regarded as unq~uestionably in a posi-
ton to make q very optimistic reepons
10 the bullish factors which have beer
accruing or have been augmented II
tho last few weeks while the market ha.
been checked by International uncer
tainty. Publication OF the note will mo-
altogether end uncertainty. but It viii
resolve much OF II.
The countrywide expression OF senti
ment showed hat the President enjoyed
public support, and while Bryan's prop
uganda OF disaffectlon will remain a,
an irritant In the situation. there ar,
satisfactory offsets In the fact that h,
is out of the Government. Bryan's con
duct was not regarded as OF 80 much
immediate consequence as the nature o.
the new Washington note to Be-lin. anC
as to that there was an obvious spread
OF conviction that only a Germany ben
on picking a quarrel with the Un!tet
States could take offence at Il or refus,
to make an answer which would paw,
the way for a settlement OF ~internationa
differences.
Meanwhile there was a further out
Put OF bullish news. The United state
steel Corporations tonnage statemen
for May showed a material ~increas.
after two months OF decrease. the gall
being made over enlarged plant opera
tons. Copper metal touched @Ol. cent
end n further rise In the price OF iea,
TO the highes. level in a generation wa
recorded. A better Idea was general!
entertained OF the way In which wa.
order business has been growing will
It's widening stimulus for general In
dustry and trade. In the meantime tn
grain markets continued TO weaken
wheat losing from one to three cents
hushel net on the prevalence OF mn
weather and the moving OF the new
crop 10 market.
Foreign exchange was quiet but some
what easier. with rancs weak. An
nouncement was made OF the receipt o
s., 800, 600 more gold from Ottawa
making s25, 0co, 900 in all on the presen
movement.
A hint OF the domestic money marke
situation was afforded by the promp
purchase OF the 5000. 600 OF Genera
Rubber three and one-half year > pc
cent. dehentures offered for suhS1rip
ton on Wednesday,