New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1915-02-24
FINANCIAL RECORD
HERE and ABROAD
Only Slight Recovery from
Early "Wednesday
change Rates Low.

Continued uncertainty as 70 the out
come Of the German blockade ana
British contrGbauC situation Tor the
two days the market was closed re
suited in 8 prCp0ndcrauce OF selling
orders at the opening Of the STOCK
Exchange Yesterday Prominent issues
5eelircd a point or more, and, though
sellinc pressure was not heavy through
he dav, movements toward recovery
did not make much progress. The IN
ternational list was generally active
and weak. Copper stocks declined, the
market for the metal having lost much
q its recent strength. A number or
the industrial spocIa.ties which have
been actively moved toward high Levels
gave evidence Of lack Of support
The commodities markets also were
lower. In addition 60 threatened In
terrupt!on OF our shipments 20 Europe
reportcd successes OF the allied fleets
~ the entrance 20 The Dardanelles
threatened possible progress toward re-
lease Of Russian wheat Cotton was
also deprc scd through discussion OF
possibility o. the British government
declaring cotton Coutraaauo.
FOREIGN exchange rates, however
fbowed iittlc sen Of belief that our
Great exports were 20 be lessenco.
Commercial bills, accumulated over The
holiday. wcr. pressed upon the market
and purchasing WAS light demand
sterling opened lower than 70 had closed
on Saturday ard 90 the cnd OF t'e
dav sold a. 4Tai4 This was a net de-
cline OF over cent 10 the mound and
within ouc-ha1 of cent OF the low
record set last week. The Continental
exchanges were even weaker raves on
Rome Paris and Berlin reaching the
lowest that this years decline mas
seen. ,....,
on the stock market an additional
decreasing influence was furnished by
~ sbrupt drop OF number of fairy
active Issues % new minimum prices.
Baltimore d Ohio, American Car and
Foundry. New Haven and Seaboard Air
Line. preferred, oil changed hands at
the new low levels announced on sat
urdsy and other issues sold a. their
roinImums New low records for the
year we're made by number Of prom
incut Issues. Losses Of point or
more on the day were made by Great
Northern. Northern Pacific, Erie, ST.
Paul and Chesapeake g Ohio, while
Reading. Union Pacific and Steel closed,
after some recovery, fraction down.
Convertible bonds were rather weak
and sales Of standard obligations for
future delivery continued, presumably
Tor European account. General Motors
made 8 heavy loss, but recovered
little before the day mad ended and
a number Of the other automobile
shares declined.
In London the c20,O00,O0O Of Treas
urv bills were ovcrsubscribed and slO,-
900 900 10 Russian notes we're paid for
without disturbing discount rates.
Dealings Boz securities IN the British
capital we're light. Here sale Of
s7.6OO.O0O 3 per cent guaranteed bonds
OF subsidiary Of the Louisville &
Nashville was announced. The Mont
real Tramways and Power Company
has made q loan In this market
Monetary conditions here were little
changed from last week Time accom-
mediation was 500 rather better demand,
but rates were not pcrcepubly changed
Call loans renewed at per cent, which
was their highest. The local Federal
Reserve Bank, 1t was learned, has made
q beginning of purchasing acceptances.