New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-12-07
prices of Bonds Improve
with Little Sign of
Foreign Selling.
sTOCK QUOTATIONS
ALSO MADE PUBLIC
o.,.;,ess Through the Clearing
House of Exchange Soon To
Re Transferred TO Floor.

-. course Of trading in bonds on
A., Of the Stock Exchange carried
!. ht week the promise Of success
-..hsd by the quiet two-hour ses-
islhssftb e Saturday before. The num-
s2n ;ssaes dealt in at not less than
y, minimum prices estaolisheo IN
ls...sS daily and the general level OF
rsrket remained steady. what
eel foreign selling appeared was alb
.hsd without any particular dis
s.ssrre and the investment demand
.I.s wb;le not so large as had been
hsas,,sd bv some, was well sustained.
kkrY.ber evidence Of the value of al
,...;.e The investing public better
,,O'rissge Of conditions Of security
.."S;no Was furnished in heavier deal
!, stocks through the clearing
iasss NJ the exchange after official
.,e.s.ions had been made known.
u..s zoo. prices were firm, and in
- issues advances we're recorded
49, the week. Conferences between
S.a.t Exchange authorities and the
hanks are expected 20 result this week
= announcement Of a plan for bring
inV the present business in stocks into
~ c,ssring House institutions having
srnourced retirement of the last OF
49, 400 600 900 of loan certificates is
Ia during The recent time Of stress,
,,orssary conditions became still cas-
~ Idle money found temporary in
,.s,,,snt in short-term notes and
somipmert trusts. The prices of such
oSIsstiOns hardened, and opportunity
80 taken Of this demand 70 effect in
~. farm some necessary corporate
spsneiug. Commercial paper, another
oujek asset, was freely purchased by
fnaneial institutions. and the market
was pretty we'll cleaned up Of more de-
sirsble names. The ruling rate for
prime paper, however, did not get un-
Der ~ per cent. Call loans were made
as low as 81 per cent and renewal
rates we're reduced.
Bond Market Well in Hand.
Early in the week railroad bonds fell
of q trife under selling that in some
instances was fairly heavy, but the de-
elines were only fractional and gem
orally were made up before the week
had ended. Some of the more specu-
htive issues advanced, and in general
no weakness was in evidence as bust
ness closed. The bond market ap-
pearsd we'll in hand, and there was
some call on Stock Exchange authori-
ties 10 allow business to'be done free
IL, with no restrictions on prices.
Continuing the prohibition of trad
ing below minimum prices, it was ar
gued, showed lack of confidence and
was apt 10 cause investors TO believe
that q 'pegged" market meant that
prces might be expected to work low
er. Investment houses urged that this
check 70 confidence should be removed,
ltllng Of instances Of orders for large
blocks OF bonds which they had re-
ssived and refused before the ex-
stsnge opened being followed on the
Asr by transactions at lower prices.
Against this the freight rate deci-
son. cause OF so much hesitation at
the tine Of the previous application,
served as an argument for delay.
Finding against the railroads, it was
felt, might well mean considerable do
nestle liquidation and material cur
hilment Of buying. This was also the
principal reason advanced against
transferring 70 the floor the business
IN stocks done through the Clearing
House.
With bid and asked quotations and