New-York tribune., 1915-03-23
FINANCIAL RECORD
HERE AND ABROAD
Industrial Issues Go High
er, While Railroads Lag
More Gold Imports.

Securities began the week with
marked strength, which at the opening
was we'll distributed. but later became
centred in the industrial group. Rail
roads we're little changed on the day,
but among the so-called specialties ad-
vances Of up to 8 points and more were
recorded, with Bethlehem Steel again
leading the market Trading expanded
until total of $4,000 shares was
reached, the highest since the end OF
January Bonds were rather quiet,
less than 100000 par value changing
hands.
Reading closed weak after rather
wide fluctuations, and Southern Pacific
was a fraction lower on the day. Steel
touched IS. but fell back before the
close, finishing with a fractional gain.
AmalGamated Copper and American
Smelling and Refining closed n point
or so higher. and other copper stocks
were firm. United States Rubber com
NOR and preferred, Mexican Petroleum,
International Paper. some of the
automobile stocks and Third Avenue
all made gains Of some proportion.
Denver & Rio Grande preferred
made a loss of over points from the
last previous transaction, while West
arm Pacific 5s on the curb continued
their Improvement. with some discus
sion as TO possibility Of sale Of the
Western Pacific to the State Of Cali
fornia being considered seriously.
Bethlehem Steel continued its upward
course and closed more than 3 points
higher than on Saturday, an advance
of nearly Il points in the last three
days of trading, though as yet no news
has reached the market to explain the
spectacular movement.
Sterling exchange was freely offered
and demand broke below 479, its pre-
vious low point. TO 4.78%. During the
day further engagement Of S3,OOO,OOO
in gold for import from Canada was
made public and S2,500.000 previously
taken was received in this city, but IN
spite of this movement of gold here
sterling closed weak. Exchange on
Paris was also lower, franc checks sell
ing at 5.33, also a low record.
Discount rates in London, whose
llUlItcS NdNSNu ltNONtig A4A ''NA ''''f,
exchange here a week ago. were easy
Yesterday. The Bank of England. IN
addition to release of 9604,000 for New
York, set aside $4,000 more for Ar
gcntine account. Securities in London
showed some purchasing on orders &C
cumulated over the week end and early
i'm the day American shares IN tfat
market were fairly active, but sagged
later.
The capture of Przcmysl by Russian
forces after its long siege had little
or no effect on the international list
in our market. Successes by the
Allies are now expected. What effect
a marked victory by the Germans
would have is another question. Ac-
cording to cable dispatches received,
Germany's financing is proceeding sat
isfactorily, some 9.000,000,00O marks
having been subscribed to the present
war loan.
Local monetary conditions showed
little change. Call loans renewed at
IA per cent. Little was done in time
loans, and mercantile paper was scarce.
Bankers acceptances continued IN eX-
cellent demand, but the supply was
limited. Local bankers have arranged
for further accommodations TO Canada,
having taken S1,OOO,OOO of three-year
pcr cent notes issued by the City Of
Victoria.