New-York tribune., 1914-12-23
FINANCIAL RECORD
HERE AND ABROAD
Prices Lower in Late
Trading - Call Loans
at 2i5 Per Cent.

After dull, almost stsgnsnt, business
in the forenoon the securities market
yesterday encountered some selling
pressure and close weak. Some Of the
more prominent issues approached
minimum prices. In general the de-
elines did not reach over point and
strength was shown by some Of the
active stocks The total Of business, a
little greater than that on Monday, was
still small. Bonds were quiet, con
vertibie issues ruling a trihe lower.
Outside investment buying was again
light, and the sentiment Of trading was
bearish.
The anthracite carriers were firm
early, Lehigh Valleys victory IN the
United States court ofsettng the
Pennsylvania rate hearing OF the DAY
before Lehigh Valley, however, made
up only part OF Monday loss. me
government is 20 appeal from the dc.
cision that II was not a violation OF
the commodities clause Of the Hep.
burn act 90 unite coal carrying ana
coal mining companies through STOCK
ownership. where there was a dlssocla-
tion IN good faith between the cor
porations. i
vance end ended the day with net
gain Of more than 3 points, IN c%pec-
tation that its president. when ne ar
rived ON to-day's steamer, would bring
with him some good new business Oo-
famed from the warrIng powers.
limited States steel was rcactionary ln
fho carly trading, and at the close
81 l. % D..
was within less than one point OF the
minimum established. Copper shares
were also weak. the market for the
metal fhowing no improvement. Ana
conda declared its dividend at the pre-
viously reduced rate, and was decldedIy
lower.
Central Leather was fraction down
on the dav. An increased dividend was
announced yesterday, ss expected, ana
traders took profits on the recent ad-
vance. Directors OF Virginia-Carolina
Chemical Company deferred dividend
action or the preferred stock. because
of the failure Of the cotton market Tor
so many weeks collections IN the south
arc abuormallv slow, and the directors
announced that they felt 1t necessary
10 conserve their cash resources
Tho money market gave evidence OF
easier conditions than have existed
sinco the outbreak Of war. Call loans
were made az 2ig per cent the lowest
since July, and time accommo odauon'
offered al per cent. found Few tax
crs. Demand sterling opened low and
cold down 20 486, but recovered on
more active buying of checks TOT TO-
davis steamer. Exports OF goods CON
tinue in volume little impaired TO GreaI
britain and it's possessions, last week $
shipments from this port beng only
trife under that of the week before
The total Of exports during the week
was nearly $21,00000O, which, while
lower than for the preceding week. was
still 100000 above 1913.
Though "a general cut m steel wages
had seemed imminent before the rate
decision was announced. directors OF
tbc limited States Steel Corporation
Yesterday decided against making any
such general reduction at this time
There will, it was announced, probably
he some smaller amounts paid lot
skilled labor. which represents around
40 pcr cent Of the employees. The dl-
rociors found that already there were
evidences presented OF the improve
rnert i'm the steel business so long
hoped for
other outside news Of the day IN
cluded consummation of plans Tor ab-
sorbing the Lake Shore into the New
York Central and purchase by bond
holders of the Rock Island Railroad Of
tho shares Of the Rock Island Railway
ON which their securities were based.
The railroad bonds closed higher, while
tho shares of the Rock Island Com
many. whose equity will be wiped out
when the sale is confirmed, were lower.