New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-12-10
FINANCIAL RECORD
HERE AND ABROAD
Bond Dealings Here En-
larged-Foreign Selling
Only Normal.

Dealings in bonds yesterday on the
floor of the Stock Exchange reached the
highest total since open trading was
resumed. Foreign selling here is
amounting 20 no more than in norman
times. Movement Of prices was slight
but small gains were fairly general
while city bonds were hrmer. Early IN
,he day there was some tendency Tow
ard lower prices, but this was over
come before the close. Rock Island is-
sues lost a little of their recent I'M
movement, while Missouri Pacihc, Ju.
pior obligations were strong ohOI
term notes were firm in over the couh-
ter trading, with particularly gO0o ue
mand for New York City issues List e.
stocks were irregular, but changes j TO-
the most part were not signlhcan'' ~
relieve the present eonSestioh II wa"
announced that orders in odd lots neeu
10 ione-or ne sent TO the clearing house.
CalI money was a shade trmer III
tone. probably in anticipation of great
or demands 10 follow the transfer oil
business in stocks 70 the floor. lime
accommodation. however, was onereo
freely as low as per cent for all ma
TURTLES. Sterling exchange was moo-
erately active, opening unchanged pu0
declining before the close. Francs, TOO,
v-ere lower. and marks lost little OF
their recent advance. The gold Iunu
COMMITTEES has sold practically all lts
exchange against its shipments 10 W
+ows Int ii was learned that 1t had an
understanding with the Bank OF Eng
land that would enable 1t to draw
against further shipments before ar
rival. Now that European money cen
tres are so occupied with their own
problems, one of the larger SCUM
American countries is expected TO place
loan in this country -.
Another 81 100000 was set aside by
the Bank of England for note redemp,,
ton, this continued strengthening OF
reserve against emergency currency
showing the confidence in the banks
position. Investment securities were
reported in good demand IN the London
market. where announcement is expect
cd soon in regard 20 the negotiations
FOR resumption of trading. Discount
rates were a trife higher, with oneI-
;ngs of bills increased. 3
The tribute paid by the Secretary OF
the Treasury in his annual report 10
the cordial and intelligent cooperation
of business men with the prompt ana
effective action of the Treasury De
partment in the recent crisis was read
here with interest. The Secretary
after enumerating the methods through
which danger from shock Of Europe
war was averted here, expressed conn
dence that retirement OF emergency
currency would be effected without an
fcultv. Il is now expected that hal
of the maximum taken out Will soon he
retired. 4 recommendation by. the
United States Treasurer that gold Ger.
iifcates be issued in denominations OF
SIS seemed in advised. Gold or notes
representing gold are of more service
when held in banking institutions as
reserve. and in small amounts are more
ant TO De used in hand TO hand clrcd-
lation.
Iron and steel trade authorities told
Of little improvement i'm buying OF nm.
ished steel so FAR this month, and
prices are weakening. The hopes OF
the industry are now for better pur-
chasing early IN January. Pig iron
production has fallen of to the small
est daily total since September OF 1908;
Directors Of the New York Central
and the Lake Shore deferred action on
dividends on stock Of both companies.
n was announced that as consolidation
~ the two roads was to become efec-
tive on the first of the year, payment
Of dividends would not be due until
after consolidation. and that the dis
bursement should be voted by the board
of the consolidated company. The
dividends, it is understood, were fully
earned.