The sun. [volume] (New York [N.Y.]) 1833-1916, 1916-01-18
FINANCIAL NEWS
AND COMMENT
Special Strength shown by In.
dustrials in a Profess
siOnal Market.
TRADING IS LESS ACTIVE

Industrial specialt.es were the features
Of a somewhat irregular stock market
Yesterday. Trading was on a moderately
contracted scale and throughout the SEES
sion the market was generally lacking
IN animation despite the vigorous activity
such a session as might have been OK
pected to follow the commotion OF the
past fortnight. ending with the extreme
decline In a number of special descrip-
lions in the first half OF last week with
the subsequent development OF a sharp
recovery indicative OF an extensive cor
rection OF impaired technical conditions.
Indeed. the significance Of yesterdays
dealings was not apparent except per
haps In comparison with the market OF
the previous Monday. which displayed
acute weakness following some strength
ening toward the end of the week before.
There wns no marked pressure In any
direction yesterday, profit taking by pro-
fessloral traders who had the bulk OF the
business to themselves seeming to cause
most OF the afternoon rccesslons. This
wa a distinct suggestion that recent IL
quotation had been materially enective
in restoring the list to "A position of I'm
o'hi
roborating circumstance In the fact that
some process OF discrimination was de-
noted by the dealings. There WAS no uni
formlty In the price movement OF Indus
trials. some of the favoritee OF specula-
tive fancy not 80 long ago being more or
less heavy.
In the main . rising trend char
acterized those quarters In which the
chief interest OF tho day WAS exhib-
~ HNx. 1AA Marina afnNkU
were among the leaders In this respec,
and Others were American coal Prod
ucts. General Electric. Industrial Alco-
hol and International Nickel. The gen.
eral run OF standard stocks. rails and
industrials alike, displayed underlying
steadiness. Among the net price changes
al the close there was a preponderance
Of substantial gains The aspects OF
The transactions permitted the infer
ence that Wall Street was in a mood
to await a cue from the market Itself
or from events. whether foreign or do
mestic. having an important bearing
on values. but in the meantime was
disposed toward the adoption OF IA con-
structive attitude.
There was almost nothing In the
news over the week end or during the
day which was calculated to promote
an expansion OF speculative or Invest
fnent ACTIVITY. montenegro reported
surrender to Austria was properly re-
garded AZ one OF the most trivial con-
sequences in relation TO the posture
of the European war. More interest
was manifested In the British plan 70
establish a formal blockade against the
Teutonic Powers, but the financial com
munity does not believe that tho haz.
ards Of a dangerous controversy with
the Allies will be heightened thereby,
despite the Congressional ag!tators who
seek t. modify the country's neutrality
In the Interests OF Germany.
The Mexican situation did mo-, obvi'
ously look any better. but Wall street:
principal concern just now is TO de
term!ne what the Internal position o.
the securities market Ia with reference
to the possibilities OF an adequate re.
Election Of the country wide expansion
of extremely profitable activity in trade
and industry.