New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1915-01-14
FINANCIAL RECORD
HERE AND ABROAD
Market Fairly Steady in a
Dull Session - Russia
Gets a Credit Here.

Dull dealings IN securities through
out yesterdays session failed again 90
bring out any marked general weakness
IN prices This refusal Of the market
20 turn reactionsry after the recent
advance affords considerable encoUr-
sgement 20 those committed 60 the
long side IN the trading The list con-
tinued broad. with further scattered
instances o. good gains. At the close
active issues were irregularlv changed
from the dsy before, with declines Of
small fractions predominating. In
bonds business was well distributed,
underlying investment issues being
dealt in 81 their best on the present
moment Savings banks. 10 rs under
stood. are beginning 80 make pur-
ehsSes. All over the state they had
prepared for much heavier Withdrawals
than have been made. and now are
scekiue % lessen their supply Of cash.
Stocks began the day yesterday At
sround the levels or the day before
The international list generally moved
little during the DAY. Canadian Pacific
Vas exceptionally strong. advancing
over 2 points on its proposal 20 antlc'-
pate payment Of loans and on the re-
Tort that 10 would sccrCcatC lts steam
shin properties. Baltimore & Ohio was
quiet with much discussion as 10 the
rate OF dividend TO be declared TODAY.
Steel. Reading and Union Pacific ended
the day fractiouslly lower. Pressed
Steel Car was weak.
Money rates showed the effect Of ali
normal esse. call loans renewing st
per cent and some loans being made as
low a. = Though plentiful supply
81 money was expected with the be
ginning or the wear. the present super
fully Il more than had been looked for.
md the idle funds arc becoming IN
vieldy. An upturn IN general trade
would afford q welcome outlet. but so
far little improvement IS evident.
Ire foreign exchange market ignored
special transactions for the import OF
gold 10 assist foreign purchases. Bust
rsss was compare lively quiet and rates
little changed Purchase Of 100000
n French coin IN London for import
does not, IL is understood. necessarily
indicate that Crest Britain will release
any great amount Of gold. Chins's
shipment OF some 100000 is 20 en-
rble that country 70 finance It's foreign
trade Russia has arranged credits
here with bankers amounting 70 Sl2.-
600 900 against which 10 can draw IN
Payment for supplies brought here, and
the Federal Reserve banks will soon he
ready 70 buy the accepted drafts.
Other accommodation Of the same kind
will doubtless be extended, for II we
sre 20 sell 90 largely 20 foreign pur-
onssers We must make convenient the
method Of payment
Cable dispatches yesterday told Of
little weakening in rrices Of securities
IN Pans and London. Three per cent
rcntes on the Paris Bourse lost part
% their recent gains. and consols closed
triHe lower. American shares in
! ondon were generally quoted under
Z tuesdays figures.
Advices from the steel trade told Of
only moderate increase in business this
week The Steel Corporations mills
tre still running around IS per cent OF
capacity. Orders for steel rails have
not reached the volume that was hoped
FOR in some quarters. as the roads are
purchasing conservstivolv. Wire manu-
facturers have advanced prices. The
iron business re- decidedly dull and
causing some anxiety.