New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1915-01-20
FINANCIAL RECORD
HERE And ABROAD
Upward Movement Con
tinued in Largest Bust
ness Since Summer.

The securities market yesterday con-
tinued It's advance IN the heaviest days
trading since reopening Better at
tendance IN the commission houses in
dictated that tho outside public was
taking 8 larger Part in the proceed
ines. and professional operations for a
rise we're also in evidence. Some $751;
900 shares changed hands In list
even broader than on Monday, and a.
the close gains Of from ! 20 points
and over were common. A number Of
issues reached the highest prices since
reopening. Bonds we're dealt in 70 the
amount Of over 100000. with sn OK
oeptionally large number Of issues rep
resented and prices firm, particularly
among convertible.
The first hour Of tire day furnished
exceptionally heavy trading. Missouri
Pacific led early activity and added 20
its recent advance, though no definite
announcement as 20 plans for the
roads rehabilitation reached the mar
ket. Though the early volume OF bus
ness was not maintained, as the day
went on prices went higher. with more
prominent stocks IN the lead. In the
afternoon dealings fell or q little and
there was some reaction on profit TAX
ing. but before the close the upward
movement was resumed. with Reading
particularly conspicuous.
Canadian Pacific was again higher IN
London. and in our market added 70 us
improvement or fairly active business.
Steel Joined IN the advance and Copper
was heavily dealt IN a. better prices.
Bethlehem Steel was weak. the direct
ors, as had been expected, taking no
action toward dividend on the COM
mon. but the rate q disbursement on
the preferred was raised from 70
per cent Wabash refundlng IS were
weak Rock Island issues took little
account OF the appointment OF a re
ceiver for the railroad company, step
toward leaving the underlying railway
alone o. the three companies Of which
this financial edifce was constructed.
Among the favorable influences Of
the day was the announcement over
night o. an eXport excess for Decem-
Der Of nearly S1320OO000. where pre-
lininary estimates had indicated SllO,-
100000 This favorable balance is one
Of the greatest in the history OF the
COUNTRY IL was produced not only BIZ
heavy shipments OF grain and Of war
supplies and q better movement OF cot
ton. but BY a material decrease IN I'M
ports as well. European needs are
continuing heavy exports into the new
year. Shipments from this port last
week were valued 81 over S3O,OOO,OO0'
some $1,000 600 more than the week
before and $1,000 900 better than the
Same week Of last year.
With al these sales 70 foreign pur-
chasers. exchange is plentiful, in spite
Of credit arrangements here. Yester-
DAY buying Of sterling exchange was
diminished and rates relaxed. Call
loans here were made as low as -
per cent This continued ease Of the
money market, more than any actual
DEVELOPMENT Ct trade revival. IS stlmu-
lating trading in securities.
Some increase IN dealings was re-
ported from the London stock market,
with q rise IN American shares. Dis
count rates in the British capital went
under . per cent for short bills. In
Paris business was quiet. 3 per cent
rentes closing q shade lower.
Receivershlp Of the Rumely Com
pany was expected and has been i'm
pending since last years failure 20 ex-
tend its notes. Loss OF foreign mar
kets because OF the war prevented re-
oovery. but lack Of capital had already
weakened the company's position.