The Washington times., 1914-12-15
VIEW YORK PRICES
DROP OFF SHARPLY
7eaIizing Sales Attain Volume
Which Brings Change in
Markets Tendency.

NEW YORK. Dec. 15.-With all the
. ocks listed subject to open trading
on the floor under restrictions pre-
-ibed by the committee of five, the
arket on the Stock Exchange opened
is morning at approximately the
osing prices of yesterday. Though
there was a very good demand, the
offerings were much larger than had
cen the case yesterday, and almost
Immediately the list generally sold
IF rather sharply. At the end of the
first half-hour the market was active
: nd reacdonary.
Realizing sales were induced by the
rapid advances that had occurred dur
ing the past two days. and there was
g I opinion among many traders on
the floor that foreign liquidation was
z Ding on, particularly in Baltimore
& I'd Ohio. Missouri, Kansas and Tex
q s, United States Steel. Union Pacific
nd Canadian Pacific. These were
The principal issues heretofore ex-
Cluded from the floor trading, and
are known as international stocks.
here was a strong demand among
the loan crowd for such issues.
The admission of these active stocks,
+ 0reto.ore traded in through the clear
Ing house. added to the supply OF stocks
availab BILE to satisfy the brving demand,
and had a strong influence in changing,
{ lcy. Another factor tending to bear
1 TIE market was the fact that forecasts
to the railroad rate decision We're
LIS favorable than those put out Satur-
y and yesterday.
Practically the whole list sold down
arply from yesterdays close. the de-
mes ranging from fractions to sew
al points. Baltimore and Ohio, listed
day for the first time since the stock
.arket resumed, was particularly &C
e. II opened at 1855, went to "a. and
acted to y, the price at which IT
{ 1sed on July 30. United States Steel,
lich brought 50 yesterday in the clear
/ = house, dropped to 521z
The forthcoming abstract of reports
{. national banks to the Comptroller
c the Currency, as OF October 81, will
Nv total of s6.Sl6.SlS.F7o IN loans and
-Counts. and SIS, 1888 in overdrafts.
4 impaired with the condition OF the
-Citutions al the previous CALI on Sep
nber l. this is a decrease in loans
a. 50 KS. Ga. There was gain in
G n of 81, S4SO35 over the earlier date.
] IividuaI deposits on October 81
counted to s6.07S, Ss4,6l7, a decrease OF
5 ls6,s52
ror the first time since the prof1t-
Hyring plan was inaugurated by IT in
-Fl the United States Steel Corpora
m has decided not to otter employees
p 'T~k tor subscription next month The
I .r cert ainties of the steel trade, with the
0IlSefI fgnl uncertainties OF inc
: ion $ earning power was the primary
son .o- the decision. Steel Corpc-
:. ion workers constitute about ~ per
cent OF the aggregate number of share
holders OF record.
The Federal Reserve Banks at Rich
mond and Atlanta have been authorized
~ the Federal Reserve Board to re-
duce discount rates. thus establishing
ao lowest that have yet been allowed.
NM sanf mar
,ays or less the new bank rate IS per
II: Tor paper running from thirty 70
Q .ty days. 5l2 per cent; and for three
--Onths' paper, 9 per cent
Pittsburgh reports western Pennsyl-
znia Dusing with signs Of industrial
Yrgival Ten mills of the American
; meet and Tin Plate Company resumed
- New Castle and Farrell and at
7aron the steel hoop mill has resumed.
our mills OF the Natianal Tube Com
I,7ny in Mckeesport have opened with
.reaSed forces. 1t IS expected the
~ Will be Maid prior TO Christmas.