New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1915-12-18
MARKET NEWS
AND COMMENT
Recovery as Crisis Over
Attack on the AnCOna
Seems Less Acute.
IRREGULAR ADVANCES
IN THE INDUSTRlALS
Traders Cover at the Opening
international List Quiet
Specialties Put Up.

As Wall Street interpreted the over
night news. our note TO Vienna which
had been described as an ultimatum
was not 10 be our last word and Aus
tria's reply. unsatisfactory though 1t
might be, would probably lead our au-
thorities into another maze Of diplo-
matte correspondence. No further com
mission house selling was in evidence
at the opening TO indicate public ap-
prehension. Traders who had put out
short commitments late on Thursday
bought stock back and prices rose.
There was little TO carry on the adj
vance, as IL still seemed a questionable
time to start new buying. but after
reaction from the early improvement
prices hardened in the afternoon and
closed fairly firm.
So far as later dispatches from
Washington went, it appeared that the
administration still took the Austrian
question seriously. While the great
outside public. whose opinion when
expressed dominates security markets,
is giving no sign of being disturbed
over this new international crisis, 1t
may we'll be that renewal Of widespread
interest in the market may be delayed
beyond what had been the general eX-
pectation.
Yesterdays irregular advances were
not particularly convincing. In the
final trading American Smelling and
Refining rose to above par, more than
points up, on active purchasing. The
eopper stocks had earlier made some
general advance as better reports came
from the market for the metal. Mer-
camille Marine preferred on large deal
ings made considerable gain, Of which
not all was held to the close. Baldwin
Locomotive, after rather erratic fuct-
nations. ended nearly I points higher.
Consolidated Gas advanced again, and,
in general, those issues which had
proved most vulnerable in Thursdays
late decline, made up the losses then
experienced.
The international list was quiet, but
for the most part ended without recess
sion. Steel, less active than Mercan-
tile Marine certificates, ended un-
changed. The railroads received little
attention, through fear Of selling for
London account on any important rise.
New York Central, however, advanced
nearly a point on a small amount OF
business. The Anglo-French notes
opened and closed at 90. Early in the
session they rose to 95h, and they
were dealt in no lower than 94%. In
vestment demand for the notes is I'M
derstood to be up to expectations.
The British fve-yesr o per cent
exchequer bonds resulted in marking
down previous government issues in
the London market. British investors,
according to French announcement.
have purchased S120,000,0O0 worth of
the new French loan, which was dealt
in in London yesterday at above the
price of issue. Cable advices from
Russia report success of the billion
ruble per cent loan assured.
In our market a little further firm
ness appeared in monetary conditions.
Sterling exchange was quiet and some
what lower. Exchange on Amsterdam
rose to new high levels and, with Brit
ish authorities interfering with our
shipments Of gold to the Netherlands,
is far above what customarily is re-
garded as the gold export point.