New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1915-08-03
FINANCIAL RECORD
HERE AND ABROAD
War Stocks Quieter, with
the Trading Better
Distributed.

Munition stocks were dealt in yes
terday in less sensational fashion than
for the greater part of last week. The
check applied to dealings in this sec
ton served to turn speculation into
other channels. Active trading broad
ened 70 include, as we'll as equipment
concerns and the smaller steel com
panies, coppers and railroads. Reduc-
ton of the days total TO under 100000
shares indicated less outside interest
as we'll as smaller scale OF professional
operations.
In the afternoon Westinghouse, Can
and Crucible advanced, but not one Of
these issues made a gain Of as much as
I points. Can, which made the most
Enforcement, was less than 3 points
higher at the close. Crucible end West
inShouse went under Saturdays close
hut recovered to end with ret gains
Allis-Chalmers, which is benefited by
the demand for machinery. as well as
by reported war orders, was again
rather heavily dealt in, and made net
gain of over points.
The copper stocks, in spite of recent
reports of production catching up with
demand, were at their best up point
or two. American Smelling and Re
fining held nearly points OF its gain
at the close, and Anaconda was up over
2. In the equipment group gains OF Z
and 3 points were fairly general. Inc
railroads in the early afternoon were
decidedly firm, but fell back generally
to 8 close with fractional gains. 81:
Paul recovered more than point OF
It's recent loss, and Reading and Cana
dian Pacific made similar advances
United States Steel, the most active
issue, ended the day around its best
up over a point, but did rot get quite
to 65.
The governments report of the cot,
ton crops condition on July 20 showed
depreciation of points, which was
about twice as bad as had been ex-
pected. There is still much time be,
fore the crop is made, however, and
prices for the staple were not raised
bv the estimate. Railroads that de-
pend for much Of their traffic on the
prosperity of the cotton belt made
practically no recession on the news:
Yesterdays figures point to crop OF
around 100000 bales, against over
16 ,OOO, 900 last year.
Excitement over profits to be derived
from filing needs of war is not con-
fined to our own markets. The latest
proof is presented in the reason
ascribcd for the failure of $4,000 900
5 per cent loan by the Danish govern
ment. The underwriting banks had to
take up half the amount, because, &C
cording to cable dispatches, ready
money is being attracted by the mush-
room ventures which spring up as q
consequence of the war. Here, too, we
are seeing promoters, more or less OF
the get-rich-quick variety, emboldened
by the fam bOyant course of stocks in
better company. So they are emerging
with propositions calculated to enable
them TO acquire part of the public's
idle funds.
The money market opened the week
a trife frmer for collateral loans. Call
money was renewed at 2 per cent, one
fourth of / per cent higher than the
rate on Friday, and time accommOda-
ton stiffened a little. Sterling eX-
change made some recovery and then
closed weak, but did not get down as
low as 4.76 in the pound. Since the
end of the week more than 100000
in gold bars and coin has come from
Canada.