The sun. [volume] (New York [N.Y.]) 1833-1916, 1915-03-09
FINANCIAL NEWS
AND COMMENT
General Advance in
the stock Market. With
Increased Activity.
LIST STRONG At CLOSE

stocks were more actively dealt in
Yesterday than AT any time since the
start of the new upward movement
which Wall street has already begun TO
call "the spring rise" Bonds were very
Arm. but, relatively less active. In both
classes of securities foreign selling com
tinued. but there was no evidence Of In
creasiug liquidation OF stocks from
abroad. although some OF the standard
leaders Of the list encountered enough
offerings to check their advance. and
me of these offerings were presumably
for European account.
There had been no news during the
weekly recess to AFFECT stock market dis
positions. hut the fact that the upward
trend continued over the week end was
enough to encourage the professional
community TO maintain or increase its
.ong commitments. Whatever short
covering went on seemed TO be In di-
ninishing proportion to new buying for
higher prices. including both speculative
and investment purchases. and there
we're ~unmistakable indications that tho
strength of the list was cliciting an out
side response.
Under the present conditions OF an
actual scarcity Of stocks except such n
supply as comes from abroad II does not
take much real buying tu make q marked
effect on prices. and the further substan-
tirl gains throughout the list seemed 10
measure "A very favorable technical po-
sition. After a session of broadening
and well diversified dealings. in which.
however. standard issues were more
prominent thar special descriptions, tho
marke, closed only a little off from the
best prices as a result ut pront taxing
. sales.
The mi rket following was inclined 10
infer from the course Of prices and the
/ action Of the list that some organized.
or AT least concentrated. effort was being
made on the constructive side OF quoted
Nalues and was particularly Influenced
hv the aggressive iirmness Of United
states Steel and Union Pacific. Banking
circles We're more obviously Interested
in the gratifying aspects OF the invest
mcnt inquiry. particularly because OF
the sale on Wednesday of So .uoO. Oon oil
New York state ~, per q bonds.
Mexican sffairs looked more menacing
but except to the extent that expansive
activities were checked by a prudent re-
gard for the rather disturbing POSSIBLE
ties Of international relations optimis.
tie considerations seemed TO FREEDOM
nate even in respect TO the European
war. At all events there was no mani
fest borrowing OF trouble from the por
tents Of conditions abroad. even though
1t mus, be recognized that the varioui
awkward problems OF neutrality have
still to he solved and the European wal
itself offers ne basis for positive CON
lecture AS 10 its duration or outcome.
An official British announcement
relative to the treatment of our Cottoi
exports did not seem To he conclusive
but made 1t quite certain thct Nh
Allies propose to prevent cotton from
reaching Germany and Austria. The
cotton market was quite firm. however
being sustained 10y the current volume
OF the Export movement. The grain
market was strong under the Leadership
of wheat. which closed at Il net sdvanc,
Of : cents a bushel on the heavy casl
demand The Governments statistic
Of reserve supplies of grain do not oh
v!ously alter market rcckonings. Thu
farm STOCKS and the visible supplies @
wheat are about the same as last year
Nor j. there much change in the stock
OF corn and oats. but the figures wcr,
construed as buil,sh.
In the foreign exchange market husl
ness was rdthcr dull. The marke
seemed to h. marking time. hut sterlin,
was apparently Weakened = little b!
the sudden curtailm.ut Of mail facili
ties Continental remittance was com
parativciy sNady,