New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1915-04-06
FINANCIAL RECORD
HERE and ABROAD
Strength Early and Late
Shown in Broad and
Active Market.

In a market in. which dulness inter
vened between two periods OF great
activity and strength stocks yesterday
added further to their gains Of the
last fortnight There was some dispo-
sition for prices TO sag in the early
afternoon, when trading declined IN
volume. but an important reaction,
such as has been looked for on many
occasions lately, failed 20 appear
Though the days total Of transactions
aid not constitute record for the
year to date, the aggregate OF shares
around $4,000. entitled IL TO a place
among the three or four big days since
the reopening of the Stock ENchange
last December. The bond market was
also strong. but activity was restricted
and the total dealings amounted 10
about third less than those of Thurs
day. the last previous five-hour ses-
sion. The outside market for bonds,
where the bulk of the business is done.
was comparatively quiet.
The stock market began and ended
with n burst Of activity, about 1IO,OOO
shares changing hands in the first half
hour and something like 100000 shares
in the last hour. There was fairly
broad list in the early dealings, num-
Der Of the specialties. such as Amerl-
can Locomotive, Bethlehem Steel,
American Beet Sugar and the motor
issues. showing large gains over the
holiday. General Electric was likewise
notable for its initial gain. But the
advances were not confined to the spe-
cialties or the ordinarily inactive
stocks, many of the oldtime market
leaders reassertine themselves with
vigor. notably Union Pacific, Steel and
the Hill stocks. The Erie issues came
in for q continuance of speculative
favor, though in the later trading they
failed to maintain their gains. Read
ing and Amalgamated Copper were an
exception 10 the general list, ruling
heavy in the outbursts Of bullish &C
tivity, though both scored fair sized
fractional gains on the day.
Toward noon the trading flattened
out, and in the next two hours stocks
tended TO sag, but in the last hour the
failure of the market to sell oil Sharply
on the decline seemed to offer new en-
to the bulls. at the same
time discouraging the shorts, and
brisk rally, led by Bethlehem Steel and
the motor issues. occurred. The for
mer sold up to within half point of
its recent high record of 80 and closed
the day with a gain of nearly 8 points.
Miami Copper. long heralded for a re
sumption of dividends, seemed to have
discounted the actual declaration OF bO
cents q share, announced IN the course
Of the trading session. New Haven.
under the inspiration Of a report that
the comv had arranged the sale OF
$50 100000, f notes, wherewlth 70 meet
its maturitles of May 1, scored an early
gain of over a point, but ended with
out change from Saturdays closing
price
News OF direct market application
was altogether lacking, unless there ne
included in this category a bret sum
mary of the United States note to Ger
many relating TO the sinking OF the
sailing vessel William p. Frye by the
Eitel Friedrich. There was nothing
conceivably provocative in that, and as
il met the general expectation Of what
would be asked Wall Street practically
ignored il. II was one Of the supreme
Courts decision days, but none OF the
announcements from Washington was
important for the purposes or the
financial district.
The Reichsbank report for tho week
made unusually interesting reading,
with an extraordinary increase III loans
no less than $4,000, 000-and its in
crease of about S99,000,O00 in cash
For the large expansion in the former
item the quarterly settlement was most
10 account. and after that probably the
substitution to the newest war loan.
The London stock market was closed
and there was no further news from
there Of the plan to raise the open
market discount rate TO per cent to-
day. -.
Sterling exchange was quiet. with
out evidence Of completion yet OF nc
plan for a f,rmal credit for Great
britain in this country. Rates for de
mand were low enough 10 yield a proht
on gold imports from Ottawa, but none
was announced i'm the course Of the
business day, though checks closed at
4.79l2. There was no change here IN
time money rates. Call money reached
q low figure of ! p per cent, but most
Of the loans were made at , per cent.