The sun. [volume] (New York [N.Y.]) 1916-1920, 1919-02-27
FINANCIAL NEWS
AND COMMENT
General Market Makes Fur
Their Advance in Buoyant
Last Hour.
TRADING MORE ACTIVE
Sentiment in Commission
Houses Is More Conserve
tive at Closing.
TRADING MORE ACTIVE

There was no let up TO the advancing
movement on the Stock Exchange yes
terday. despite the moderate setback
experienced by the market In the trading
on Tuesday. On the contrary, fresh proof
was given OF the further expansion of
buying power. which has developed dur
ing the past few days with the broad
! ening OF public interest into the trad
Ing. Dealings were on the largest scale
| for the current movement. tho largest,
In fact. since tho beginning of the year,
and the strength and range of interest
matched its breadth and volume. The
trading was also further signalized by
rather encouraging turn of strength
in the rails. This Is the first time that
the rails have shared to any considerable
extent in the buying movement and their
strength was gratifying to the banking
and brokerage fraternity. which has be-
iieved all along that these issues would
come in for more attention at the hands
Of the speculative element. along with
the standard shares and specialties.
The bulk OF the gains were recorded
In the last hour when the buying move
ment reached It's height, but the rest
OF the session was not weak by any
means. Speculation was still devoted
for the most part to the specialties
| But the broadening of interest In the
| X
though undoubtedly the advance at the
close was too fast to be maintained
This suggested the possibility OF fur.
Their reaction In prices on the near fu-
ture and also brought forward the
question as to whether or not the market
has reached a point where the specula.
tive fraternity regards prices as higl
enough under existing conditions There
was nothing in the days trading, how.
ever. to suggest the possibility of a
elimination of the movement. But Il
was noticeable that the great majority OF
commission houses were more conserva-
tive in their comment OH the market and
that. moreover. there seemed to be q
disposition among the floor traders to re.
new short contracts moro freely when.
ever there was a very marked bulge
in prices during the course of the day
This did not hold true Of the last hour
when all hesitation seemed to have beer
thrown aside and the enthusiasm reached
its highest pitch for the current move
ment
There was wide advance again II
all of the specialties, which have beer
active in the market recently. Genera
Motors made another headlong rush up
ward, closing with an advance OF NOR,
than points: Kelly Springfield wen
TO new high; the marines recovered
easily from the low IN the last hour OF
Tuesday. and. in fact. all of'the rubbers
motors, specialties and individual sha re!
gained considerable ground during tn,
day. But the movement was not alun,
| confined to these issues. Steel common
was taken In hand In the last hour ant
moved above 95 for the first time thi,
year, and nearly all OF the minor steeis
particularly Republic, Bethlehem B, ant
Crucible, followed suit. while fresl
strength developed in the sugars anc
copper. notwithstanding the increasing
belief that the readjustment with re
spect to these shares has not yet beer
completed, or the days advances, tn,
most noteworthy proha bly, occurred II
the rails. These shares have been neg
Iected all through the recent advanc,
and their strength was Il source of IA
Norable comment after the close. Til,
lower priced issues. such as New Haver
and other non-dividend paying issues
were most favored. although the highe
priced stocks came in for their share o
the buying as well.
The money market continued UNI
changed and no further comment Wa!
heard as TO the advance of call rates or
Monday afternoon to above : per cent
IRIS was regarded an incident in t.,
course o. an expanding market. and IN,
heiies continued to prevail that II rate.
reach this point again plenty uc moncy
would De forthcoming from the rest o.
the country 70 adjust the situation. II
the foreign exchange market the onl,
outstanding feature was weakness o
spanish pesctLs which broke rattle
sharply after'a further advance In tht
forenoon. This was merely a natura
reaction after the sharp advance which
nos been experienced recently. Other
wise rates were about unchanged from
the preceding days closing