New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1915-12-31
MARKET NEWS
AND COMMENT
Gains by a Few Favored
InduStrialS - General
List Holds Steady.
COMING HOLIDAY
Restraints TRADING
Demand Sterling Continues Its
Rise TO Above 4.74EBank
of France Loses Gold.

The general list yesterday ended
with trifling changes after little firm
ness around the opening and some
slight reaction in the afternoon. There
was no more weakness in evidence
than in the previous dull sessions TO
which we had become accustomed. Most
OF the price movement was IN rev
special issues, some of which were ad-
vanced on fairly active trading. Deal
ings were a little larger than on
Wednesday. but were not well DIS
tributed.
Mexican Petroleum, which benefited
through expectation Of merger OF OIL
concerns, was the most active issue. II
advanced early, and after little halt
resumed its rise in the late dealings
Al the close il was up more than .
points after transactions involving
more than $4,000 shares. California
Petroleum on a fair amount of bust
ness made a net gain of points, and
the preferred at its best was up over
10.
A number Of industrial specialties
were advanced, Corn Products being
particu arly active. 1t improved over
a point and the preferred more than 2.
United States Steel was rather actively
bought around the opening, but did
little afterward. Crucible Steel was
weak. St. Paul continued its rise of
the day before. with a maximum gain
of n point. The Erie stocks were
strong in response to the statement Of
the roads prospects made by its prest-
dent. aad the new bonds advanced;
The Anglo-French notes were little
steadier being dealt in at 1913. the
low Of the day before, and "a. Rock
Island refunding As fell back point
from their early price, but no announce
ment as to what action would be taken
on the request Of some holders for
foreclosure game TO the market.
At the outset business was fairly
brisk, but trading fell away until the
final dealings. While operations in
the main seemed those Of professional
traders. there was some disposition to
ascribe the purchasing of st. Paul and
Corn Products TO more important in
terests The approach Of double
holiday exercised considerable re-
straint on speculative commitments.
and the uncertainty of our interna-
tional dispute also served TO keep down
trading There was reported during
the day a firm market for copper at
22H cents a pound, but this failed 70
be reflected in any market activity.
Sterling exchange made new high
price for the movement at 4.741s for
demand, falling back a little later in
the day. Russian and Austrian eX-
change weakened to the lowest rates
yet recorded. In London the Bank of
England reported an increase of more
than S4S,000,000 in loans as a result
Of year-end needs, though the banks
circulation was only slightly expanded
Gold increased S1,500,000. but with de-
uosit liabilities much greater the re-
serve proportion dropped more than l
per cent. TO under 2ll2
In Paris the Bank of France an
nounced a loss Of some 100000 in
gold. With holdings of the precious
metal so closely guarded, this decrease.
the first for months, must represent
some special operation, but nothing
came in business hours to indicate the
gold released was destined for this
country or London.