New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1915-04-14
FINANCIAL RECORD
HERE AND ABROAD
AT End of Big Day Market
SoftenS on a 32-POint
Drop in Bethlehem.

In another day Of trading that went
over 100000 shares, stocks generally
closed a fraction higher. After well
maintained strength the general list
softened when near the close Bethle-
hem steel in a late break lost more
than its earlier advance Of 81 points.
Outside interest in the market con-
tinued great. Professional traders in
part resisted the advance, but some, ap-
parently large operators, took part IN
the buying.
Bethlehem Steel began the day above
closing figures of Monday, dropped back
a little and then went steadily upward.
Around 2 o'clock II touched 1855, 80
points above its best Of the day before,
but in the last fifteen or twenty min.
utes Of trading a violent break carried
it 80 points lower and it closed at l25,
up l point on the day. To account for
this most remarkable furry no i'm
portant news of the company's affairs
came 10 the market, though irrespon-
sible rumors continued to be circulated.
Again those who persist in selling the
stock short have apparently paid high
for enough of the small supply TO en-
able them TO cover their sales.
The general market began the day
sues we're for a while rather backward,
but, as Bethlehem Steel advanced, buy
ing by the general public and those
professionals committed 70 the bull
side with covering by the short in
terest strengthened prices. Cams OF
up to 2 points were common among the
more active issues, with some of the
industrial favorites going much higher,
l. - 81 ia n
when the market softened around the
close. Copper stocks were exception
ally firm in the late dealings, Amalga-
mated going TO its highest of the year
on revival Of rumors that the company
would be dissolved and assets distrib-
uted.
The continued heavy business on the
Stock Exchange is gradually having
some effect on funds for loans on col
lateral, though call money continued IN
ample supply and renewed at pa per
cent, Il OF 1 per cent lower than on
Monday. there was frmer tendency IN
time accommodation and the advance
Of the previous day was maintained
Commercial paper, too, passed as low
as 49, per cent only for the shorter
dates and bankers acceptances were
quoted A shade higher than before.
Exchange on European centres was
easy. London checks early in the day
selling at 479A and closing at 4.f9'4.
German exchange was even cheaper
than on the day before, checks on, Der
lin selling at 81 u. The continued sale
of our securities here for European &C
count had strengthening effect on eX-
change rates to counteract movement
Of goods. The export EXCESS OF last
week. announced from Washington, was
under S1S,OOO.0OO, as against $22'Oooo,ooo
the week before, but shipments from
this port increased, and London advlces
predicted early arrangements 10
strengthen British credit here.
In banking circles charges OF ma
licious persecution brought against the
Controller Of the Currency and the
Secretary Of the Treasury by national
hank in Washington were discussed
with much interest Should such ale
cations as have been made in TINS SUIT
he made good, there would be reason
for change in the administration OF the
Treasury Department. The opinion
most generally held here yesterday
was that no responsible bankers would
make such charges unless they felt
able TO substantlate them
with ample proof