The sun. [volume] (New York [N.Y.]) 1833-1916, 1915-05-07
FINANCIAL NEWS
AND COMMENT
Selling Pressure Lifted From
Stocks and Prices
Make Gains.
INDrSTRIALS UP MOST

lized price movement was not continued.
The session was quleter and steadisr
from start to finish than for some time
past. although total dealings made
respectable volume and denoted a fair
degree OF activity under the circum-
stances OF the unsettlement to which
quoted values have been subjected lately
Trading was more brisk in the afternoon
taan In the morning and the tendency
Of business 10 pick up in the late deal
lngs around the best prices OF the day
vas a somewha, favorable sign. In the
main the market gave q somewhat en-
couraging impression OF having read
justed It's position materially for the
better. and tho general trend OF prices.
despite . good deal OF irregulas1ty, was
upward. with closing quotations SHOW
ing an average OF net gain.
There was some disposition among
observers to comment adversely on the
lack OF residence In many OF the So
called standard shares In comparison
with the stronger turn in large va
ricty OF industrials. but Wall street
can hardly forget that the way 10 stock
market Improvement this year was
pointed by precisely the class OF stocks
which were most in demand yesterday.
Speclalties. particularly In the war or
der group, led in rally or recovery sup
ported by the copper stocks and other
metal shares. only the most pretudiced
critic OF Wall Street phenomena would
refuse 10 recognize that buying favors
the Industrial quarter more than rails
har iu n n \
business basis for II which has not
been at all impaired by the recent ex-
travagance OF gambling in the prices
OF such stocks.
on account OF the very heavy selline
which was in progress at the close or
Wednesday and the pronounced weak
ness OF the share list then low and
active opening was generally expected
Yesterday Instead the initial trading
was desultory and somewhat above the
level OF the previous close. This induced
a moderate covering OF short contracts
and an upturn which gave way 10 al
around relapse. Selling did not. how
ever. follow the market downward ant
while throughout the rest OF the day
prices fluctuated nervously the marke
/ gradually developed firme- tone. Buy
! ing OF an excellent quality was en-
countered on all recesslons. in striking
/ contrast with the more dubious buy
! ing which appeared in the last fort
! night at the top OF the upward move
ment. nor did the supply OF stock!
seem TO increase on yesterdays up
| turn. Professional sentiment remained
rather bearish. but with due allowance
! for the accidents az international poll
tics the stock market IS bound 20 re
| spond eNpansively sooner or later 4
{ 10 t,-a
| general business recovery.
The fact that almost othing was salt
! OF the latest diplomatic episode whicl
Germany has added to Washington
! burdens, and that there was a mani
fest subsistence OF apprehension abou
affairs in the Far East. suggested Still
| more emphatically that matters abroa'
had been only indirectly the occasion
for the plunge of stocks into reaction
! In the last few days. The return q
the market OF buyers who had REGARDED
it's fro'hy demonstrations at the recen
top with d.sapproval was another tokei
. that technical causes had more thai
anything else to do with the shrinkag
Of quoted values since the end o
April
Foreign exchange showed etrengc
for a while in the various forms o
sterling remittance. This was attribute
| 10 tire further sales OF our securitie
lately, but the exchange market wa
heavy In the afternoon and the !ndica
lions are that only temporary strength
eniDg can result from such liquidat!o
OF our securities as British investor
are willing 10 carry on. Nothing
likely 10 correc. the exchanges save a
arrangement OF credits here for II
London market. and something Of IN
sort should be In order before long. TIL
engagement OF our bankers in half {
an Argentine loan OF $50, 900. 900 OF fiy
year per cent. notes. OF which Londo
takes the other half. may be leadin
toward wider extension OF the facil
ties which are now at the command {
American finance.
| All the time, moreover. American n
sources are being augmented by III
necessities which are compelling shr
ments OF gold 10 the new world none
tary centre. From an analysis OF III
weekly return Of the Bank OF Franc
II Is inferred that the Importation {
gold from Paris may be about TO ris
from the 100000 already received I
sl2 900, 900 or more There is a lin
to The ability OF other nations TO pal
, with gold at this time In payment {
their obligations here, but the gol
which they are sending will establis
them in credit for a large total OF az
Commodation
Announcement OF the preliminaries I
the dissolution OF the Amalgamated Coz
per Company was made after TIE clos
of business last night and was one MOI
, indication OF the feeling in importar
financial and corporate circles that II
: times are proptious for constructiS
undertakings. The Government crop r,
port to-day should direct optimistic a
tention TO the satisfactory promise OF a
agricultural season which IL IL turr
out well will contribute vastly to Il
. factors operating for a restoration
Lgenaral nrOSperlfy In the United STATE.