The sun. [volume] (New York [N.Y.]) 1833-1916, 1916-02-26
FINANCIAL NEWS
AND COMMENT
Feeling That Stocks Will Not
Move Out Of Rut Until War
Uncertainty Ends.
NO ACUTE APPREHENSION

That the underlying feeling in the
financial district regarding the outcome
OF the complications OF foreign policy
and domestic politics at Washington
has not at any time this week
been acutely apprehensivc was further
eyinced in yesterdays stock market.
Washington advices had los; some OF
their alarmist tinge. but Wall street
was still left TO draw difficult conclu-
sions from a condition Of political con-
fusion II not chaos and was utterly
disinclined to indulge In any exhibition
Of excited uncasiness.
Thursdays expansion OF selling ac-
tiv!ty was no; continued. but on the
contrary the dealings In stocks shrank
to about half the previous days vol
tune. falling. indeed. to the lowest az
grcgate Of the week. At the same time
the course OF prices took a generally
upward turn and tho average level Of
quoted values held a moderate all
around rally. The close was firm In
tone. although at rccessions from the
best figures. Short covering co%ntribu-
ted the principal influence In the up
turn. This vas induced by the dis
covery that there was no selling pres
sure OF any consequence. but except
FOR purchases to cancel bearish COM
mitments there was little buying W
In the market. Stocks were supplied on
advances in what looked like an appl!-
cation OF a policy of holding the mar
ket under control.
\ portion OF the professional trad
Ing element tried TO anticipate a sharo
recovery. but; Efforts to promote 1t were
frustrated. \ market which docs not
require supper; and does seem 20 he
held in restraint can hardly be re-
Hardcd as IN an unsound or unsafe
condition. There was certainly no bar
rier against selling or decline. hut ten
denotes toward advance were apparently
checked. I'm Interesting feature was
the initiation Of the railying movement
10y standard rails and industrials. al.
though various speCialties afterwarJ
gave signs of an upward trend.
Some ,i;ilc optimism was romote
ny reports from abroad tina; the use OF
American securities was contemplated
~ collateral loans to France an,
Great Britain, Thee presumably wou,,
rot be open marie; lcuns. bu, ncgo
Hated bet~ccn banking groups. Thei.
Eject. however. would be To dimin!si
somewhat d.rcc, or contingent pressur,
80 the stock Exchange. In the mai,
li;i'c attention was paid to anyth.ul
outside .: the Washington situate,
and the progress Of the tremendou,
herman at;ack in the western theltrt
of the war. 80 Gar ~ concerned III,
news from Washir ston a better feeling
was ulgues;ionat,v induced by ~,
stand taken IN the Witt" House ;owar
'he Congressional proposals regarding
an dbd,ra:tou Of American lights In tn,
international! field, Anything which
IT. 4 HN-
cloud u; uncertainties covering IN" ma
tional ca pitil could not fail 10 Ice r..
gardcd h, the financial community as
reiSsur.lg
In the upshoi ,hc opinion OF Wa,
stree, WAS on tho wlulc that factors ui
activity had tccu PRESENTED both In IN.
news from Wa:hiu g.on and IN The new.
from the w,r. TIE feeling was tina
something would have TO bc definite,
settled in national affairs and that the
outcome %; tho tic. man offensive aga!ns,
the French line would have 10 b,
awaited before quoted values moved
distinctly uut Of their rut.
y" hearing on the financial construc.
uU uf in" war ncWS i was noted that
foreign exchange did not suggest cx-
'rvti;iuns uf u radical German sue
'sS. ser ing bills hardened, but
mark fc.l stiil lower. coming within
,thuu, a crat % their cN;rcmc bottom
Of tie last few months.