New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1915-01-31
FINANCIAL RECORD
HERE And ABROAD
Some Advance on Snort
Coveriug-Steel's New
Minimum 3S.

III. week ended on The stock marSet
vith quiet trading and some recovery
Of prices. Steel WAS comparatively IN
set,v. At So minimum % 40. maintained
from the DAY before, and professions
selling pressure relaxed. Short sales
hat had been 50 influential IN the
weeks decline were covered, and these
repurehases produced a fairly general
uptu-r The more prominent issues
ended the DAY with net gains OF point
or more. While the war in Europe
continues there are enough posslbih-
fie, OF market developments over sun
dsv 70 convince many spectators o.
the advissbility % evening W tnelr
trades before going home on SATURDAY
afternoon.
THE minimum on Steel was lowered
after the close Of business 20 81, "nloh
will be tried out IA Mondays market.
YESTERDAY some 100 shares were oesIt
In al the opening and number o. oda
lots changed hands thereafter out none
better than 20. The preferred addeG
another fraction 20 It's recovery sho
the sinking fund IS improved. NeN
Haven. which on the day before mao
Neen PRACTICALLY AltNAte"eN
mum OF AZ, got above d. and cioseo
with q net gain of = points
Advances Of point or more were
recorded by Union and Southern Pseihe'
Copper, Atchison and 50. Paul keadlng
was particularly active, and 81 rs best
wa, up nearly points, but . weakened
bsfore the END OF the cay. sugar
stocks again were higher Bonds were
at..dv IN a fairly broad list.
Clearing House institutions a. the
end Of business on Friday mad m
creased loans S2t 100000 as the result
Of LIQUIDATION in securities and OF re-
ouirements Of corporate financing
Den,nd deposits we're more than vs.
600 900 greater. but this increase in
liabilities WAS more than onset oy
rgin In reserves. Surplus wss more
Than g. 900 900 above the already hign
figures recorded the week before stsnd-
inc At over sl440 900. Bond issues
ais,,6v pisnntd will draw somewhat on
these Idle resources. but ease OF money
rnsv be expected 20 continue.
The $4,000 900 OF Pennsylvania Rail
rad az per cent bonds are beng
offered AZ io3.4. which will make them
WELD 70 the buyer little better than
$50 per cent Subscriptions viii close
eo-morrow and there is every lndlca-
tion that the issue will prove q pro-
nounced success This is the first large
corporation borrowing since summer
and should make easier other rotations
20 follow. -
The foreign exchange market yester-
Ssy found supply % commercial bills
In excess Of requirements, and demand
sterling closed lower at 4.s4'3, only
little higher than where 1t ended the
Ssturdav before Gable dispatches
point out that In the last week we not
only paid for securities returned bur
also purchased crude rubber IN consld-
erabl. volume. and sll this for a time
more than Offset the supply OF eX-
change from Europe's buying here.
The Presidents address on business
wss read with interest in the financial
district. though Wall Street is no
longer swayed by his polished phrases
as Il was year ago. He announced
that the period % uncertainty for biz
business was st an end, now that def
nitions OF what WAS lawful had been
sdopted. There will, however. be re-
quired a period OF test 10 determine
whether or not these definitions are
successful, according TO his own ad-
mission.