New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1915-07-09
FINANCIAL RECORD
HERE AND ABROAD
Market Unsettled by Sales
by Europe and Doubt
Over German Note.


Uneasincas over the prospect Of
maintaining peace with Germany eX-
erted an unscttling influence on yes
terday's security market. Foreign sell
ing Of stocks again met little buying
demand and encouraged the short in
terest Business, however. was smaller
than on Wednesday. and prominent
railroads generally reached. their
lowest early in the day, though low
priced roads declined until the close.
Sales for delayed delivery were again
conspicuous in the bond trading, and
prices were irregular.
News before the opening that the
Minnehaha, which was crossing as a
freightcr loaded with munitions Of war,
was afre nj sea as the result of an eX-
plosion increased the disquiet at the
opening. Doubt about the A6riatlc.
due in the war zone, was another
source of apprehension. Toward the
end of the day q misleading report
that this vessel had arrived safely in
England was denied at the local Offices
Of the line and caused some little sell
ing.
At the outset prices were from a
fraction to point or more lower.
There was a quick upturn, but the
market fell back again before the hrst
hour had ended. From then until the
close business was light. Stocks were
offered freely, but not in large blocks,
and operations for the short interest
we're not conducted with any great de-
gree of vigor. Missouri Pacific was
weak all day. ending at 312. the lowest
in the history of the road. Other low
priced railroads also declined, Mis-
souri,. Kansas & Texas falling back
over points to its lowest since re-
organization. and the preferred over 3.
Louisville & Nashville and Southern
Railway preferred made further losses.
and New Haven was consplcuously
weak. Declines of a point or so were
fairly general among the international
railroads. though AtchiSon was firm,
and Great Northern made up its early
loss at the close and ended shade
higher. Steel and Copper were only
fractionally lower at the end Of the
day.
Sterling exchange rates made no
further recovery IN spite OF brluSh
selling Of securities, London checks
going a little lower during the day and
ending unchanged. Discounts IL Lon
don held firm. though the Bank OF Eng
land in its weekly return showed
gain Of nearly y per cent IN its re-
serve proportion. Gold holdings were
more than 100000 greater. there
having been no important shipments to
New York during the week, and loans
and deposits We're reduced.
The Bank Of France showed some
beneficial result from the appeal o. the
government for popular exchange OF
gold for notes, more than l3,OOO,O0O
francs being added 10 its supply Of the
precious metal Appreciation Of the
necessity Of guarding the nations sup
DIV Of the precious metal was further
indicated i'm decree prohibiting eN.
port Of gold except by the Bank OF
France Cablcd adcices that The mora
forum in France was 10 be continued
furnished further evidence OF the dis
turbcd conditions prevailing mere. III
Germany. il was reported, conferences
looking toward another large govern
ment loan were in prospect.
Here the Department Of Agriculture S
estimates OF bount!ful crops again
came 90 security market occupied
with other matters. The prospects Tor
spring and winter wheat and corn were
about as had been looked for. As
result Of the wet, unreasonable weather
deterioration Of winter wheat was nut
al about 100000 bushels. which was
more han Offset by an addition to the
forecast for spring wheat, and total
harvest Of qC3 100000 bushels promised
would much surpass last seasons rec
ord WELD Corn. because OF weather
conditions, is backward, but larger
acreage than expected indicates bet
ter harvest than promised at this time
last wear.