The sun. [volume] (New York [N.Y.]) 1916-1920, 1918-11-15
FTNANCIALNE NEWS
And COMMENT
stock Market Turns Heavy At
ter Early Strength and
Firmness.
PRICES CLOSE LOWER
Transactions Contract From
average Of Recent
Volumes.
PRICES CLOSE LOwEl

Dealings IN the stock market yestsr-
day continued the process Of contrae-
tion which has been in progress for
several days past, ami what sembIsnes
Of activity the market had was cor
fined 10 the hry. and second hours.
which were periods 81 very general hr-u-
ness. IN the niaan. however. the gen.
eral drift 81 prices was irresHariy
downward for the day a. a whole. FOR
after the high prices OF the day had
been reached the rsartet turned heavy.
although 10 particular significance a.
TO tendencies attached itself 20 the
course Of quoted vasues. Trading was
largely professional. and while there
was a mixture ~ buII.ol and bearish
efTo~t. whch evoked relatively little re-
ponse. the general trend Of Things In
dlcated that the market r. gradually
Fsturrinz 10 the rut which 10 occupied
prior IN the las. upward swing.
Despite the eo-s2s ratively un!uportant
course pursued by Stock Exchange
prices, sentiment IN The financial com
+, nunity az a whole was materially i'm
I proved, and at tas closing e was be-
I iieved that about the worst 81 the In
mediate liquidation had been accom-
pllshed. 80 far. however. as the news
Developments were concerned there was
{ very little IN the days events TO ir-
J terest the speculative fraternity. wash
/ lnzton dispatches continued 10 tell OF
: pians for peace readJustnents, but they
! have not yet reached the stage which
VII give waH Street the opportunity ~
( Judge with any certainty lust what Is
I IN store In the immediate future. How
over. az concerns financial Development
, there were reports again n circulation
I Of some relaxation OF the money re-
| strictions Important banking Interests
I Tor Obvious reasons are Unable 20 say
y much one way or the other In connec-
. ton with these rurnors but their per
7 slsteace Ia beginning n impress At least
/ part IF the brokerage community with
/ the idea that there may be some change
! after all IN this direction in the rot far
3 i.s.ant future This Of course depends
( mainly Upoa the process Of the peace
resdiustment IN the next few weeks.
/ But whatever the oUtcoms. tradins
I In yesterdays stock market was com.
| paratlvelY tame az contracted with tn
! rp@csdlnx days session. The sams
thing was true Of the price movements
I Outside Of a few specfaIties Of the typ
I
turned quiet after further improvement
at the OUTSET m technical conditions. anf
a, tire closing the sJority Of issue,
rad lost about all OF The gains they had
, accorded IN the early part % the day
| The pressure was not pronounced any
: where even In the steel shares, ant
= there rad been anything Ike TIE inter
-, mat war manifested ~ the market or
TIE siay or wednesday, the iis- undpubt
sdiy would have continued 20 pursue IN
course which was In evidence at N
outset "A sc was the market tarnss
dull and war stocks az we'll "a the ptae'
| issues and rails were disposed to yielt
In the afternoon 10 the closing. which
was heavy. Corn Products and the TO
bacco shares were exceptions to tn
general rule. holding we'll. althoURh max
ing no great progress. ipasrnuch as tn
rsst Of the market was inclined To yielt
ground. Bonds were active. especis ilj
the foreign Govern nHnt lssues city o
| HorGeaux 81 made a neT nigh recort
gf i02
Money conditions Here unchanged ar
! most Of the discussion in this connection
was the report a. 10 whether or no
the Money Committee Is going 10 Ie
down the speculative bars In the reai
| future. There was. however. slightly
more time money reported as avaIlablt
| for Ioaninz purposes. IN The foreigr
exchange department continued reaction
| In francs was the outSta ndinz feature
| This particular exchange reacted sbou
| Two centines on account ~ profit taking
| Neutral excha nges were disposed 10 b
| hTrner although very few 81 then
| showed any important change from tn,
preceding days closing.