New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1915-06-25
FINANCIAL RECORD
HERE And ABROAD
Stocks Weak in Afternoon
Break in u. S. Rubber
More Cold Imports.

Stocks worked lower yesterday, with
weakness I'm the afternoon and not
much recovery at the close. For some
time there has been little aggressive
buvinc to give life to the market ana
oncrators have been closing out tho'r
LONG commitments. Short selling when
has followed has added to the soft
ness Of the lis, and here and there
stop orders have been caught. nc
volume of business indicates 'h"i
there is 10 important cHort 20 S'"'
the market lower. .orr.
Fore,rp selling Of stocks concern,
ing which there has been so mu'h S.,,"
since the high rate Of interest on '',
Rri.-sb war loan was made known, ~
actually not much greater tho' 'n''
which has been steadily Conduc,'u w,
.,r,. .,nc No impressive How OF
securities from Europe 20 TINS m"tNy'
is looked for at present, hut rhev'
tair,y ms 10 the effect Of the bF','7"
trarrirg OH holdings of our ISSUES
naturally adds 20 the dissemination 10
start any extended operations on the
buyi0c side. Fractionally lower prices
o-ora tbe rule al the opening NesleI
day and the early trading was on
decline Business was not large, now
ever. and there was some recovery
around noon. Later the scale oil opeI
at,ons was increased and the market
turned downward again. 20,
Further decline in Canadian Paciic'
which went over 3 points lower ~
heavier dealings and break IN Inlteu
states Rubber increased the tendency
toward weakness. Earlier IN the year
Rubber had been advanced on tax OF
proftablc war business. ~ cIos'"
Yesterday at its lowest, with a IoSe
Of points on the day, more than ~
rojnts below its record price, TeaSneo
only about two months ago SeIiihs
prcssure in the stock was heavy, deaf
MOS amounting TO more than IN any
other issue on the list except Onl'eu
states Steel. Rumors that The. diyi-
dend would be passed were widely CIT
culatcd :.
Elsewhere losses were greatest IN
the war order and metal stocks, reach-
ing from one point TO two points VI
more. Railroads in the afternoon were
lover but, after q little recovery
ended for the most part less than
noirt below the close Of the day be-
fore. Reading had none OF Ine
strength displayed on Wednesday,
making a maximum loss OF nearly
noipts. United States Steel ended un-
der so. with net loss of consider
able fraction.
Reports Of earnings presented dur
ing the day were generally disregard,
ed American Car and Foundry had
a moor wear. but this had been tore,
seen. 1914 providing little IN rHilroag,
equipment purchases. Union ana
Southern Pacific each had smaller
cross receipts in May than those OF
last year, Southern Pacliic cCAVer !i.
its loss into o gain in net, and al 'he
end Of the day the two stocks NAG
made fractional declines not tal apart
Discounts in London went stun hlsh1I
or after the Bank of England mao
shown a reserve proportion = OF l
pcr cent under that OF the week pc be,
fore. Gold fell off about s2.OoO,ooO
and the decrease in reserve more thar
ofTset a reduction Of deposits. WIN
higher rates for funds in London
heavier selling Of our securities mere
for foreign account and rather hghI
SUNNY of commercial bills on LONDON
sterling exchange made pronounced re-
covery, closing = OF n cent III ' ne
mound higher, only a shade under ~ :
for London checks The flow OF goi6a
from Canada was renewed, S2,0VO'OOV
in bars and S225,000 IN coin beng
sent from Ottawa, and more Is eX-
nectod to follow.