The sun. [volume] (New York [N.Y.]) 1833-1916, 1916-03-04
FINANCIAL NEWS
AND COMMENT
Stocks, in a Quiet Session,
Give Signs Of an Over
sold Condition.
CLOSE AS A RULE STRONG

II could hardly be said that the inan-
cial community received any news either
from the western front Of the European
war or about the Washington upheaval
over grave questions Of national policy Ia
clear away the uncertainties which Wall
street has been urging no much lately
as reasons for the unsettlement through
which the stock market has Just passed.
Whether the reasons In question were
valid against the political probabilities.
domestic and foreign. as well as against
the powerful factors which are operat-
Ing and must operate to establish values
on q level commensurate with the profit
able conditions and prospects of general
business. may be doubted. The stock
markets troubles have been largely
speculative. almost wholly Of It's own
making and In large part imaginary.
Yesterdays record only added to pre-
vious suggestions that the share list was
In "a fundamentally strong position to
reflect the prosperous situation In trade
n industry whenever actual or on
j~ectural political restraints on forward
action were removed or whenever Wall
street concluded to regard them as less
influential than the assurances already
vouchsafed Of a prolonged maintenance
Of business prosperity.
II the principal news matters abroad
and at home to which the financial dis
trict gave attention had any effect II was
witnessed chiefly In the continued on
traction of stock market dealings. This
might well be the result both of signs
that the winter liquidation had put the
stock market In an improved position
and OF the uncertainties attaching to
military events In Europe as we'll as to
the politico-diplomatic complications at
Washington. Reports OF an extension of
the German offensive In France tended
to strengthen Wall Streets waiting at
,itude. Nor could there be any very
different consequence Of the remarkable
performances at the national capital.
II Is safe to say that such occur.
rences are bound to lead to a clarinca-
ton OF national ideas and purposes.
but the financial district observes the
latest steps in the process with amaze
ment. That this emotion rather than
acute apprehension vas inspired seems
to be implied by the developments on
the Stock Exchange. which permitted
the inference that Wall Street was In
clined to infer from such an extraor-
binary state OF affairs that the chance
of any change in the country's neutral
status was. IL not diminishing. at least
not increasing.
The stock market session was quiet
and until well into the afternoon price
movements and transactions repre-
scented in the main the efforts Of profess
SIGNALS to raid the list. They were
more and more unsuccessful In forcing
liquidation, while they did evoke more
opposition from buyers. The outcome
was a last hour OF more activity than
the earlier periods OF the day, with
general strength. n a close at rising
prices showing numerous substantial net
gains. Leaders In the late upturn were
provided by some OF the industrials
which had been mo depressed re-
Gently. The advances were out OF pro-
portion to the limited total OF trading
and denoted a scarcity OF stocks. which
was further evidence not only OF a sold
out but an oversold condition.