The sun. [volume] (New York [N.Y.]) 1833-1916, 1915-12-25
FINANCIAL NEWS
and COMMENT
Stocks Show Sustained Firm
ness In q Moderately Ac-
tive Session,
WHEAT GOES HIGHER

That the financial community Is dis
tinctly In q mood to make a constructive
reflection Of the accommodating evidences
W highly profitable general business ac-
tlvity, based on an economic position
Of extraordinary strength and funda-
mental s%oundness. was Indicated by yes
terday's stock market. Tho session, al
though not marked by any further gen.
trai gain In the new forward movement.
seemed to ~corroboiate previous evidence
Of the week that the list Lad moved
definitely out of It's recent rut and lad
all upward trend.
there was only a moderate letdown IN
the more active scale OF trading this
week and only "a moderate supply Of
stock was encountered on advances.
The most compl tc proof OF the financial
temper seemed, however, to lie provided
by the lack OF II tokens OF recurrent
uncasincss on international account,
such as might have been stimulated by
the reported torpedoing OF a japanese
steamship without warning, thus rais-
ing another question for Washington to
handle, In respect of this matter Wall
Street seemed to be OF the view that
the strain OH our relations with the
European central Powers had already
b en- made as acute as possible without
an actual breach and that these relations
were In process OF diplomatic ard sat
isfactory adjustment.
Most of the active strength of the
day was limited to the forenoon trading
In stocks. Their after the attention
which was turned to Christmas celebra-
lions made for Il dun market. There
was. however. only a slight sag In prices
toward the end Of the day, which did
not detract from the und rlying firm
Uess exhibited. Industrials enjoyed
most buying favor. but the interesting
feature was the strength shown by New
York Central and Unit Il States Steel.
both stocks on the international list.
The second set OF figures given out In
the Loree canvass of foreign holdit gs
OF our securities were enthusiastically in
t.rprctcd as showing how readily for
oigu selling at the rate of about $780,
Oou, 900 par value Of securities a month
had been absorbed this year and as
arguing that the continuing liquidation
from abroad could hardly be detrimental
10 the l.vel OF quoted values.
Inc NtthlN Dd4lk statement was pun
i.hed after the close OF business. and
IL showed very modest changes In the
approach 10 til. year end. Loans made
a further increase Of s2i .6Op.ono. Will,
suiplus reserve was further reduced by
$4,000. 900. All the essential facts OF
the banking position, however, are
summed W in the money market. which
WAS never SO asy at this season with
business In a state of very prosperous
and active expansion. How great Is IN.
trade and Industrial activity could not
De better illustrated than by a reference
TO the couHtry's bank clcaiines, whicl
are running far in excess Of the volume
Of two years ago.
additional reports of railroad earn
| 10 the widespread activity OF the bus!
upss movement. Following the reports
uf Eastern ana Southwestern lines,
significant return was madc tor tins
Nortuwcs: IN the Northern Pacific state
mcn;, with u gross gain of sl,6>3,ro,
and q net gain Of Si,i.6,ooo. copper
metal reflected tho buying pressure
winch lrts leeu stimulated 10y foleiss
purchases. and vac quoted us hign a.
.liY cents II pound. The factor Of for
oigu dtuanrd was also cviIced 'u the al
ditioual rise Of wh AT I'm a very active
market. Prices for grain We're carrie
up about > cents, IN advance of from
: 10 \ T. uts for the week and a totd
ris. Of about - cents a busAel in th'
mast month.