The sun. [volume] (New York [N.Y.]) 1833-1916, 1916-06-06
FINANCIAL NEWS
AND COMMENT
Rising Strength With Some
Increased Activity in
the Stock Market.
MOTOR SHARES LEADING

Stocks continued yesterday to display
the tendencies toward Increasing activ-
ity At rising prices which were inter-
rupted toward the end Of last week by
the sudden news Of the naval action in
the North Sea. There were no develop
ments Of any particular consequence in
the money market or in the field Of
financial and business routine. The de-
cline Of marks attracted some attention
to the foreign exchanged, but was not
extensive enough 10 be Of obvious signih-
canoe. There was nc disposition to re-
late II to the war advices. although the
Anglo-French bonds displayed renewed
irmness.
Wall Street was In general rather dis
inclined TO accept as facts all the sur
misses Of tho British Admiralty about the
losses sustained by Germany in the
naval encounter. but the Information
over the week end suggested that Ger
man claims Of victory were exagger-
ated and that the naval situation was not
visibly changed. The stock market COM
munity proceeded accordingly TO enga &c
its attention with the matters which
were forming the subjects of chief n
sideration before the sea night, namely,
the likelihood OF political occurrences
preliminary to the Presidential campaign
which might be sufficiently favorable to
permit a marketwise reflection OF the
extraordinarily profitable conditions In
this score that the approach Of tho polit-
ical convention season seemed to be re-
sponsible for no a~pprehensive attitude
In any business quarter.
The dealings in stocks were on . scale
OF moderately expanding activity and
tho market action was In the MAR
strong. Most rails and como standard
industrials exhibited superficial eAsi
ness, but an extensive array OF indus
trial issues was dealt IN rather largely
at advancing quotations. The net re
suit was 10 leave the average OF
quoted value at the close at a new h'gf
level for the recovery which set In las
month. Talk abounded to the effect tina
the excessive a-ggressiveness OF opera.
tions in the motor group and related
descriptions was hurting the market. blu
such a result was hardly apparent II
the aspects Of the session.
Whatever one thinks OF the ballooninI
process to which various newcomer:
in the share list are being subjected
stocks AS n whole have demonstrate
dam Nigor on numerous Occa
sions In the past year and a half un
der similar e~xtravagant tests. Nor wer'
the rising features OF the day conflne'
wholly TO the acceleration OF advance II
motor and kindred stocks by the step
taken to promote the new large merge
of automobile concerns. American Bee
Sugar and United Fruit were only tw'
Of "A fairly long catalogue OF Industrial
which responded readily TO operation
for the rise. The Mercantile Marin
shares seemed ny their persistent siio'
Of rising strength to Indicate an carr
and satisfactory agreement among III
conflicting interests relative 10 the fnan
clal readjustment which will take tn
out Of its wholly anomalou
receivership.
In its broader relations the stock maj
kct session implied that constructive ei
fort encountered no serious obstacle !
the market itself and was not pre-
vented by adverse contingencies or ur
certain factors. although still MANIFEST
restrained on these accounts. partlt
ularly on account OF the uncertain out
come Of the Republican convention I
Chicago. All the questions Wall Stree
has been asking about the Chicago cor
J yention have not been based on any pre-
nounced prediction for candidate
They have denoted mainly a good de:
nf concern over the prospect for Reput
lean reunion or the ground that tn
country will benefit from the politica
competition OF two strong parties.