The sun. [volume] (New York [N.Y.]) 1833-1916, 1915-12-21
FINANCIAL NEWS
AND COMMENT
Stocks Continue to Reflect Re.
straints Of Foreign I'm
certainties.
r TONE Is FIRM

consideration connected WIN tno
approaching holidays hardly made for
a resumption of aggressive operations
in tho stock market yesterday In q
of the continued influence for restraint
exercised by washington's persistent
assertions Of the grave phase OF the
controversy with Austria. Wall Street
does not exactly regard the prospect
OF 4 breach of diplomatic relations with
the weaker Of the two central Euro
pean Powers as w%arrantine all the APP
parent alarm with which II has been
regarded in Washington discussion of
the subject. Nevertheless there has
been no inclination to anticipate too
much in a marketwise fashion the stu
ation which may result from the diplo-
matte exchanges that have been making
and foreign affairs have serve TO &C.
| centuate tho moro or less seasonal q
| poets OF the share list.
There Was nothing in the news with
which the week opened or during the
day to give any impetus to trading
| Tho transmission OF tho second Ancons
| iloto NoShiiB'oi "do nv a'Noiii
panied by n explanatory informa'
ton which suggested a change m tho
status Of the Austrian question. Thi,
being the case, there was no apparen.
inclination to proceed with the conf
dent reflection of real factors OF valu,
denoted by h profitable conditions o
general business and the strength o
the investment market. Dealings II
stocks were professional and only II
---a~--A sAya-- 49, A~.-.~-- Al-- -.
most animated period Of the day
Quoted values then displayed som,
rising tendencies. but buying did no
expand o. the advance nor even follow
the market up very far and the after
noon was dull.
Features Of somewhat ~exceptiona
strength were provided by America,
smelling and Mexican Petroleum In re
Spouse to tho announcements that tn,
~pacification of Mexico was making ma
terlal progress as evinced by the procla
nation OF Villas purpose to Withdraw
from the scene OF his revolutionary OK
plolts. The list as a whole exhibits,
a fair amount of ~irTnness which ex
tended to the international stocks. TIL
Anglo-French bonds were quito activel,
dealt in at or a shade below 95. show
ing n sustained demand which was no
affected by the wa news.
mug 'HpIc IIcHltiouS SlEouIiiStdIlcr
the market would not have bcen withou
arguments Tor active strength all around
for trade and industrial reports wer
most encouraging. An illustration VA
afforded by the large buying movement
which developed In copper over the weel
end ~ absorbed a good deal OF tn
metal for both domestic and foreig
delivery At 20 cents a pound and up
ward.
Financial attitudes were rather we
indicated by the conclusion OF arrangt
ments assoclating the largest bankin
interests in the purchase Of $4,000, 90
OF six months t per cent. notes Of III
Argentine Government, the proceeds (
the loan TO be spent entirely IA tn
country. The transaction brings the e
tai accommodation extended to Argcntin
since the beginning OF the war TO a
aggregate Of sac 5000. 600. The $4,000
900 loan to London banks made Il
: bankers here IL now operative and Lo'
don began - draw bills yesterda
against the credit thus granted. TIL
was perhaps a cause of the furths
2 strengthening ps sterling exchange. wit
= demand bills above Az, but the prime
pal foreign exchanges We're all stron.
even relchsmarks adding to their rail
from last weeks low level. More this
SO. 500. 600 gold was received by way
importation IN the movement which ~
been going on for months. OF whic
$4,000 came from South America.