Evening star. [volume] (Washington, D.C.) 1854-1972, 1910-03-13
FOREIGN MARKETS.

LONDON, March 12-The stock market
has been generally firm during the week,
with sustained activity in investment Is
sues and q fresh outburst of speculative
strength in Kaffirs and Rhodesian mines
at the week end. despite the commence
ment of ono of the largest settlements in
years. Home rails led the advance in the
investment section, good traffic reports
and dividend prospects attracting In
creased attention, while consols. after
falling half a point, recovered the loss
under covering orders. The pooling
scheme Of the 1nterOceanic and other
Mexican railway companies caused
smart squirt in the issues Of the latter,
while Argentine rails advanced on a re-
newed demand. which found the market
bare of stock. japanese bonds improved
on brisk buying owing to news of the
conversion Of a further installment of
$50, OOO, coo of the international loan.
The chief interest of traders was Gen.
tered in the mining sections. where spec
ulation broke out with renewed vigor. in
Rhodesian Mines and carried the leading
issues to new high records. Kaffirs ex-
perienced a similar burst OF activity and
strength at the week end, and closed con-
siderably higher. Copper shares. how
ever, yielded to selling pressure, following
the decline in the prices Of the metal
and unfavorable American advices.
American securities were rather uncer-
tain. United States Steel shares COM
manded attention on forecasts of in
creased earnings and better dividend
prospects, while demonstrations were
made in various other stocks on dividend
Talk. The chief business. however, ap-
peared to be In good class bonds. which
were taken rather freely by big houses.
The market today reflected the weakness
in Wall street, and with selling on pros
poets of poor New York bank statement
much Of the advance made earlier in the
week disappeared, and final quotations
were from points higher to points
lower than last Saturday, with the tone
uncertain.
The money market experienced smart
change during the week. Thursdays
bank statement showed the necessity OF
replenishing the reserve owing to the for
eign gold demand, and as the Indian gov
eminent reserved IS. $50, 600 in gold yester-
the market is talking OF an early rise In
the banks rate Of discount. The open
market discount rates accordingly ad-
vanced to per cent for three-month
bills. Money continued fairly abundant,
but the action of the government In re-
fusinp to collect the income tax until all
the budget taxes are legalized makes the
outlook uncertain.
Money was in good demand today. but
the supply was ample. Discount rates
were higher on the Indian and CONT
mental gold demand and the prospects of
early rise in the Bank of England dis
count Trading on the stock exchange
continued active, with a good undertone,
but occasionally prices were slightly be-
low yesterdays level on profit-taking in
Rhodesian mines. Kaffirs and consols.
Japanese bonds and home and Mexican
rails further hardened, but copper shares
closed uncertain.
American securities opened uncertain,
the weakness In Wall street yesterday
and prospects of a poor New York bank
statement checking business. A slight
hardening in prices was followed by a
saKging movement and the market closed
dull, with values ranging from " higher
to q lower than yesterdays New York
closing.
BERLIN, March 1c-Prices were gen.
orally werk on the bourse today.
PARIS, March 12.-Prices were strong
on the bOurse today.