New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1915-04-16
FINANCIAL RECORD
HERE and ABROAD
Profit Taking Early and
Late - Some Ground
Gained on Day.

At the end Of another day OF heavy
trading, the third in succession IN
which over 100000 shares had been
dealt in, the market had made another
slight advance. In the frat hour profit
taking sales were heavy and, though
securities were strong in the middle OF
the day and early afternoon, selling
pressure renewed before the close
wiped out much OF the gain. For the
most part the public seemed to rule
the market, traders being inclined to
follow outside orders, but in some
issues signs OF pool distribution ap-
peared. Bonds changed hands 10 a
total Of about 100000 par value, at
prices generally firm.
Commission house orders, as pre-
viously this week, were we'll divided be-
tween buying and selling. So far
profit taking has been general, and the
rise seems not yet to have reached q
point where pyrsmided commitments OF
weak spectators threaten disastrous
breaks on reactions.
In the afternoon railroads were eI-
ceptionally strong for q while, making
advances Of up TO 2 points, but selling
became heavy as new high levels on the
movement were reached. Traction
stocks were again favored, INTERIOR
ough Metropolitan issues being par
ticularly active and Third avenue max
ing an advance Of some proportion.
Equipment stocks made gains OF up 10
8 points or more on stories. not all OF
a substantial nature, that they were
profting through huge war orders;
Coppers continued firm, Amalgamated
getting above 70.
Announcement Of engagement Of ST.
100000 in Great Britain for import
from Ottawa had for a time stimulat-
ing effect on securities. This Is the
first gold London has sent us since ar
rangements were made for the French
loan here. It followed receipt OF over
81 100000 In gold by the Bank Of Eng
land the day before, presumably from
Russia. Sterling rates were only a
triAe 6ruer with this news of gold en-
gagement. and in London discounts
were easier on publication OF a favor
able hank return. Should the policy Of
daily sales of treasury bills in London,
ioined TO some release of gold, result
in higher rates for collateral loans at
that centre. return of our stocks might
be fastened and sterling rates here
strengthened.
The Bank OF England's return yes.
terdav. in which neither the loss Of
gold TO this country nor Wednesdays
receipts figured. showed gain OF 81,
100000 in bullion and reduction OF
nearly 100000 in loans. Deposit la,
bilitics we're, however, increased and
the reserve proportion at under 10 per
cent was only about one-half Of ! Pc Per
cent higher than the week before. Inc
Rank Of France added to its gold but
circulation expanded and deposits were
heavier. o+
In the local money market, so great
Is the surplus Of idle funds that rates
showed no appreciable effect Of the
weeks heavy trading In securities. Call
loans were renewed at "a per cent cent
one-ouarter Of per cent lower than
on Wednesday, and while the demand
for time loans was a little greater
rates we're practically unchanged. Mer-
camille paper is moving rather slowly
lending institutions showing disposl-
ZION 10 demand better returns on their
funds