New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1915-04-30
FINANCIAL RECORD
HERE AND ABROAD
Prices Firm in Broader
Trading-Industrial Is
sues Prominent.

Secur,tie. went higher yesterday, with
the volume OF trading approaching the
million share mark and the list of active
issues broadened. The war group con-
tinued prominent, but more seasoned
stocks, while less active, were generally
firm. In the bonds, quieter trading IN
the New York Central debentures re.
duced the total from the high record
Of the day before, but the dealings
were still large and prices were strong.
At the beginning of trading prices
were firm and profit taking was well
absorbed. An irregular upward move
ment followed. with industrial special
ties conspicuous. In the late afternoon
there was some renewal OF seilihg
pressure that had only slight effect on
price.
United States Steel was in good de-
mand. and at its best was well above
60 and close TO its high price OF two
weeks ago. Efforts were made to &C
count for this strength through re-
ports of war orders. which were ap-
parently without foundation. 1t must
be remembered that Steel common IS
widely distributed and favorlte pur-
chase Of the outside public when re-
vival in industry is believed imminent
Westinghouse was again dealt IN IN
great volume and added points TO IT'S
advance. Pressed Steel Car. New FORK
Air Brake, National Lead and General
Electric made gains Of point or more
up TO over 5. Stories Of further pront-
able business obtained from the belllg-
erents by these and other companies
were diligently circulated. but ofhclai
confirmation was withheld.
Details of the plans for removing the
Wabash Railroad from the custody or
the court, in which il has remained nov
for more than three years, were received
with enthusiasm that benefited issues
Of that company and of other weak
railroads as well. Wabash preferred
went above s. a maximum gain OF over 8
points, and the refunding As improved
about points. Missouri, Kansas &
Texas made further recovery, as en-
couraging progress was reported IN de-
post of notes for extension, and after
the market closed it was learned that
the plan would probably go through.
Rock Island was exceptionally weak,
losing points of its rise OF the day
before.
Consolidated Gas went points
higher with news that an extra divi-
dend had been declared, but did not
keep all Of this gain 10 the close. Inc
explanation accompanying TINS an
nouncement, that recent decisions had
indicated that a rate of per cent was
not unreasonable for public service
corporations, strengthened similar
issues.
From London the return of the Bank
Of England gave further evidence OF
need Of that market for assistance
from our financiers. The banks re
serve proportion went below Is, to the
lowest since August. There was a
small loss in gold. loans 10 the money
market were more than s2OOO,OOO
greater and deposit liabilities were
much heavier. Discounts in London,
however. we've unchanged. The Bank
of France reported loss OF 36,OOO,OOO
francs in gold.
Mercantile paper in this city was
bought at little lower rates by some
institutions, end time accommodation
was offered on terms trlie more
favorable. Call loans were renewed at
the former rate Of per cent. Negoti-
ations for the Argentine loan have, It
is understood, reached a point where
some definite announcement will soon
be made. II is planned TO issue $780,
600 900 in 6 Per cent tive-year notes,
half in this country and half in Lon
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