New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1915-02-25
FINANCIAL RECORD
HERE And ABROAD
Stocks Open Weak, but
Make Up Early Losses
Close Below Best.

After continuation Of the reae-
tionsry movement in the early trading
yesterday, securities recovered ana
closed At about the final levels Of Tues
day. Indefinite reports from Washing
ton Of negotiations that might free our
shipments 20 the belligerents from
threatened danger assisted the upturn.
Business Of the day Was tribe larger
than the day before, but liquidation
seemed less IN evidence than profes-
sional selling pressure. Sales OF bonds
for delayed delivery, which may be
supposed 10 originate on the other size
Of the water, did not greatly depress
prices.
In tn. early decline new low levels
for the year were again reached by
number Of active issues. Northern Pa
cIhc going below par FOR the first time
IN years. Baltimore & Ohio and New
Haven were traded in 81 their mini
NUNS. New low Official levels were an
nounced for to-day for these and other
issues, including some equipment
stocks and preferred stocks OF ran,
roads serving Southern territory. steel
and Union Pacific we're unchanged on
the DAY, while Reading and copper
had made fractional advances Final
prices were generally little under the
best. some reaction having taken place
IN the last few minutes OF trading.
Early In the day the foreign eI-
change market showed unusual weak
ness and irregularity, demand sterling
touching A79, the low point or the
week before. Rates hardened and sd-
vanced on the day, however on pHr-
chAses ascribed 10 preparation for
possible curtailment OF our shipments
through war developments
Government figures Of our Foreign
trade so far available indicate another
immense export balance FOR the month
unless commerce is suddenly snG
severely interrupted. For the thiro
week % February exports at our PIN,
eIn.l ports we're more than S8l ,0oO,oOO
Sr.s.er than imports, making the ex-
c.s. for three weeks around S1OOOOO,.
nm AS result Of this great outflow OF
commodities. application from British
bsnkers for credits here persists, IN
spjte Of Germsny's sinking OF mer-
liant vessels and the reported inten-
zion OF Great Britain 70 seize all goods
~ German owners, whether shipped
direct or ultimately destined Tor Ger.
man use. During the day the Bank OF
England sold s201, 600 in gold, when
NAV indicate another import OF the
nreeious metal from Ottawa.
Unlike the unsettled exchange mar
ket. monetary conditions were practl-
caIiv the same as on the day before;
There were few applications for hxeo
date funds on collateral. and mercantile
paper OF the best grade continued
scarce, but financial institutions were
disInclined 10 make any concessions IN
yates Call loans renewed at the
pegged rate Of per cent, with the
range Of the day from that hgure 70
IN. - u.
Discount rates IN London were y OF
per cent lower at y. The s2O,OOO;OVO
ofTreasury bills offered there on Mon
dav were oversubscribed around three
time, and were dealt In yesterday at
an advance above the average issue
price So far no step has been taken
L. reduce the artificial care Of funds in
the British capital
Here reports from the steel trade
40 closely watched as measuring re
eovery in general trade, were rather
nn,stlsfactory. Mil operations were
better, but buying OF finished products
"a. ,l.ckened and confidence has been
r,tber shaken, while pig iron continues
40 show practically no movement. jan
nav railroad earnings made public
we're more encouraging. The Lehign
Valley reported gains In both gross
and net, and the Southern PACING re
auced its loss in net 70 figure much
under that reported In recent months