New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-12-25
FINANCIAL RECORD
HERE and ABROAD
Securities React After an
Early Upturn - More
Minimums Reached.

Securities advanced IN the forenoon
Yesterday, but the recovery was feet
ing, and Httle OF the improvement was
In evidence at the close. For the last
two hours business was Of pre-holi-
day quiet, with anal prices irregrisrly
CHANGED from those Of Wednesday.
Overnight neu,s Of New York Central's
announcement OF its customary div-
dend. with some covering by shorts,
prompted the early advance. Bonds
wore rather quiet az prices shade
lower in o narrow list
New York Central opened with
gain of q fraction and went higher, but
lost the greater part Of the advance
Reading, New Haven, Pennsylvania and
Union Pacific also made temporary
Improvement in the first hour. A. the
close there was a slight upturn In
few issues that brought Copper back
20 90. q shade up on the day. The list
traded in in the last hour was excep-
tionaly narrow.
Securities brought from Europe on
the Lusitania were less cause OF ap-
preheusion Their amount was eau-
mated az around S2,JOO,OOO, instead OF
70, times that total, and 70 was under
stood that practically all had been
sold. Minimum prices were reached
yesterday by more Of the active issues
Southern Railway common and pre-
ferred were traded IN az their new 10"
levels. but Louisville G. Nashville, sea
board Air Line preferred ana AIah'ic
Coast Line did not appear 10 the Gay
AealinRS. Around 5000 shares OF steer
changed hands, for the most part AZ
TIE minimum, though one-quarter OF \
point higher was reached on some
transactions. Steel preferred was up q
Srife on the day, and the sinking iuno
B. Aftor touching the high price Oh
Wednesday, close ended the uSy
lower.
The lowered rsdiscoUnt rate OF the
iocaI Regional Bank Of ~ per cent Tor
thirty DAYS and for longer maturlties
vss a recognition Of conditions eziSt.
w. and had no effect on open markeV
rnfes Call loans renewed until Mon
dav AZ per cent, time accommodation
Uaa unchanged, and mercantile paper
V,as ouiet Sterling exchange huctu-
atod irrerularly, but closed lower az
A96E Francs also declined ana MARKS
0neninr Of the London Stock Ex-
cbo1oe for cash trading q week from
Nondav is 20 be 80 restricted thA1
business here is not expected 20 be I'M
roodietelv affected Ia London yester-
dav II was supposed that regulations
night he modified after they had re-
ceived a trial. Pre-holiday quiet pre-
vo;lod I'm the securities market In the
British capital. In Paris prices were
THE Rank OF England's weekly return
showed a reserve percentage not ihU0il
under the customary level or inc "eeN
before Christmas. The proporuon'
about Gas, per cent, was more IMAM 1
per cent higher than that OF the "eeh
preceding. Deposit laOhlties shIHlN
through quick return by the Cover
nent 20 the market OF payment o" 1lo
80 loan. which more than offset a loss
a. reeerye. Gold holdings went t2UU0'-
OOO lower. but this was accounted iot
~, transfer 20 Paris, in addition to the
81 100000 set aside as customary ioi
note redemption.
Weekly trade reviews reported some
stimulation in retail business, but bank
Siearinrs we're still depressed. Gross
TajIroad earnings for December con-
tinued 70 make a somewhat better com
nerison with those Of 1913. Exports
ri wheat and flour Of nearly o'OOO'OOV
bushels we're more than twice as great
"a for the same week Of last year.
Among the news OF the day was
Washington dispatch announcing sus-
pension by the Interstate commerce
Sommission of new lighterage charges
IN and about this city filed by railroads
operating westbound freight Anoitnler
source OF increased revenue Whicn
seemed so hopeful 20 the conn llssl ~, u
a. H. summer is thus made for the
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