The sun. [volume] (New York [N.Y.]) 1833-1916, 1916-05-30
FINANCIAL NEWS
AND COMMENT
Quiet Day in the Stock Mar
ket. With a Closing Tone
Of Strength.
iUlLL RAILROADS FIRM

Holiday conditions ruled In the stock
market yesterday. Dealings contracted
to about the lowest minimum consistent
with the maintenance Of trading
efforts OF any sort. The course Of prices
was irregular. with some superficial
heavincss in various directions. notably
tn coppers. General Motors dropped
violently. but no significance attaches
To- the action Of such a volatile and
highly specialized description. In the
afternoon there was a little display Of
animated strength in rubber and tire
issues. Throughout the session vigor-
Gus firmness was exhibited by leading
rails. c~onspicuously Lehigh Valley. Read
ing and Norfolk and Western. There
was a general upturn in the late trading
and the closing tone was one of quiet
strength. There was nothing I'm the
market. which continued the features Of
the sessions for several days past. tina
was Inconsistent with n theory OF n
stage Of constructive effort when the
accumulation of an unwieldly following
vas being discouraged.
Naturally the financial community
paid a large degree of respectful and
regretful attention to the death of
James j. Hill, which was Of course
without any market ~onsequen Wall
street has grown to learn In recent
years how well protected are the posi-
tons which might be affected by the
death of AN important figure in the
world Of nance or corporate affairs.
The financial district abounded in recol-
lection of the part which Mr.. Hill had
played in promoting the country's eco
nomic growth, but II dwelt still more
on the able share which he had taken.
particularly 81 late. in popularizing
thought and discussion along the lines
Of "A SOUND public policy for the con-
servation and development Of the ma
tons capital and natural resources.
The week end recess and holiday In
terrupt.on coming at a time Of vacil-
lating n uncertain Stock En-
change sentiment easily accounted for
the aspects Of tho market. The news
over the turn Of the week made no
contribution to the shaping of any
definite conclusion. Traders were in
clined to think that the market might
now wait upon the national political con-
vent!ons. but trading views are as readily
subject to change in this respect as
they are in regard to the influence Of
the prevalent talk about European
/ peace prospects, 80 lar as concerns
the outlook for an end Of the war
abroad, the most detached Wall Street
view is that the peace propaganda
simply represents Germany's effort 10
avoid being deprived Of %conquests and
that very little would be heard about
peace IN this country az this time II
II were not for our political c!rcum-
stances.
More brilliant statements Of earnings
for April were published by a number
of important railroads. on account OF
falling reserve ratios. conjecture of a
hardening money market has been slim
ulated. but Is not beloved to he quite
the time by several! weeks for money
rates to change from the level OF ex-
treme ease wnICn they have he'd 50
long. In the foreign exchange market
the feature was the strength OF Ger
man bills. which was associated in some
banking circles with the German peace
propaganda. Meanwhile the receipt o'
$4,000. 900 more gold from Canada in
creased the amount Of metal which Grea,
Britain has sent here on this movement
TO 5000 900.