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Show STOCK MARKET 6TR0NG AND ACTIVE AT THEEND OF WEEK Belief That Submarine Controversy Has Been Virtually Vir-tually Settled Gives Courage to Speculators. XEW YORK, Jan. 8. Belief that the submarine controversy between Washington Washing-ton and Berlin had been virtually settled contributed in a great measure to the strength and activity of today's brief session ses-sion on the stO' k exchange, albeit some of the advances and much of the high pressure were reduced in the final dealings. deal-ings. In the first half hour, yesterday's buying buy-ing movement was renewed on a liberal scale, tile short interest scrambling hastily to cover. Leaders of the movement move-ment included Mexican Petroleum, American Can, American Smelting, Anaconda Ana-conda Copper, Mercantile Marine preferred pre-ferred and United States Steel. The latter lat-ter scored a further substantial advance, effecting more of the mid week's decline, but was subject to pressure later, closing unchanged at S7. Rise in Specialties. Rome of the more prominent specialties special-ties were 5 to 8 points over yesterday's mlnimums, and the railway division was firm, but comparatively quiet. Labor troubles and riots in the middle west emboldened em-boldened the professional element to fur- ther short selling in the final hour, the market closing with an irregular tone. Total sales amounted to 30.000 shares. The usual week-end budget of news bearing on financial conditions included statements from the mercantile agencies of increased extension of various forms of commercial and industrial enterprises, while the November statement of thi Great Northern railway, disposing a net gain of SL'. 530, 000 over the corresponding . month of 1914, was in keeping with recent re-cent railway exhibits. Sterling Falls Back. Foreign exchange markets were mainly nominal, in the sense that act us 1 business busi-ness was light. Sterling opened with some recovery from yesterday's late session, ses-sion, but fell back again later, while marks manifested a firmer tendency. Forecasts of the bank statement were fullv confirmed, the actual cash gain of $17,500,000 exceeding most estimates. Actual Ac-tual reserves Increased by almost $S, 000, 000. Anglo-French bonds, which rose to 95, featured the broad trading in those securities. Total sales of bonds, par value, were $4,435,000. U. S. registered 4s advanced 4 Per cent on call during the week. |