New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1913-02-17
london PRICES RALLY,
ENDING A SLACK WEEK
pulIish Sentiment Prevails and
Rates for Money Become
AppreciabIy Easier.
MEXICAN RAILWAYS FIRM
c.uation in Paris Becomes the
Dominant Factor in the
Speculation and In
vestment World.

lBy cable TO The Tribune
London. Feb. 1G-The feature of the
s,oct market Yesterday was rise i'm
The price OF Mexican railways. due
partly to the report that Madero had
rss,pned and that d new President
satisfactory to Felix Diaz had been
chosen and partly TO the desire of the
hears TO level up their books over the
yeek end. Americans generally were
strong and proved the best section of
the market, but the whole tendency of
traders was more bullish toward the
end of the week
Early in the week the general fall in
prices. which had been expected on the
resumption of war in the Balkans. but
.shich did not then come. materialized.
sand business generally was slack and
weak. Later. however. dealers re-
/. gained heart, owing in a measure TO re-
Ports indicating that the war might
soon END.
s Though money was in strong demand
( Al the beginning of the week there was
little call for advances yesterday. and
. cans TO Monday fell to AZ per cent.
Discounts remained unchanged at =
er cent for siXty-day bills. 4 1916 for
. three months bills. As for four months
als and J-lG per cent for six months
I Hills
Bank Reserves Increasing.
: The bank reserve increased SJ.933.-
100 10 Sl3S. 10000 and the stock Of
gold Increased $685. 600 10 S1S1 800
10 The shipment of gold TO South
America during the week was only ST.
10000 and the time is approaching
When the Argentine demand should be
ended for this season, but il is the opin-
ion also that Brazil will not want much
more
II should be remembered however.
that when peace in the Near East
finally comes revival of business is TO
Be expected on the Continent The
reeds Of the present belligerents are
kely TO create a stronger demand for
gold than the return TO circulation of
supplies now boarded can satisfy
The bank discount rates now ruling
10 the leading European centres are as
follows:
Paris. /; Berlin, 6: Frankfort. q:
Hfnburg. ~: Vienna, &; Amsterdam.
4. Rene. g. ST. Petersburg, 81; Madrid.
4. Stockholm. 51a; Lisbon, 6 Brus-
SIS ): Copenhagen, 5l2.
Sir George Paish's Summary.
Sir George Paish. writing to The
sta,ist" on the feeling in Paris, says:
AT present Paris is in state of mas
terry inactivity. Everything is in
shape for an active year. but both pub
lie and bankers are waiting on events.
They are not pessimistic-indeed, they
are of good courage-but they think the
time TO make a movement will come
when peace is restored in the Balkans.
They belieFe that peace is near and
that it will bring renewed confidence
and activity.
French bankers. in fact. are now an
ticipating d very good year. They are
aware that a large part Of the loans
required TO pay for the war and for
the mobilization as well as for the war
in TripOn will come TO the French mar
ket; hence they expect that applica-
tons for capital to France in the cur
rent year will be very large.
One Of the great French bankers
ave me his calculation that new loans
for something like SJJ0O00Uv0 would
have 10 be raised on the conclusion Of
the war in the Balkans. and over and
above this he calculated that Russia
would require a good deal of money for
railway extensions. No great Russian
'oan is 10 be made i'm Paris this year,
but several small loans for railway
construction are looked for.
Everything for the moment depends
On the conclusion Of the war in the Dal-
kans and on the return Of confidence
which will come with peace. As soon
as the French public is treasured the
lnfiux Of cash into French banks III
Subscriptions for the large number oil
attractive loans to be offered will be
very great.
Since the end of August SlS5,OOO,VoO
10 cash has been Withdrawn from the
sank Of France. Approximately sI'"'-
10000 is now being boarded by the
French people. In brief, now that the
uhculties in the Balkans are In process
VI adjustment and the larger peace mas
oeen maintained. French bankers are
disposed to take a distinctly hope.oi
view OF the future and TO look forwdru
70 the issue of the large number o.
~ans promised for the current year Us
''sey not only 10 give good proiits I"
NE Issuing houses. but also 10 bril'e
Jack into the Golfers Of the banks me
arge amount Of cash now hoarden.
ihey recognize. however. that WINE
rates in the money market are hkeN
10 fall appreciably when the hoardeo
ash returns, the rate Of interest IN tue
'hsestrnen, market will remain high, AZ
fompetition for the available capitdi
VII be Keen