New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1915-01-03
FINANCIAL RECORD
HERE And ABROAD
Dealings in Securities In
signiticant-LOan to
Argentina.

The Stock Exchange was open for
public trading yesterday, but niue nus use
was made OF the market offered. ne
total Of transactions in stocks WAS only
a trife above that % the day aiter
Christmas. when trading estsohsheo
record for quiet The active ISL was
II ANYTHING. narrower t1an the SatuI-
dav before a number % issues uss-
ally prominent did not appear ~ ah'
and others were represented oy onIN
one or two transactions Price changes
Of fractions had little significance.
Bonds were not quite so dull as they
were 2 week before, but only about
$500 0O0 per value changed hands
steel. with r total o. little over
$500 shares. kept q point above us
minimum and closed unchanged. ms
souri, Pacific recovered 81 fraction o.
Thursday's loss. Western Maryland
went 10 new low levels Some OF the
more popular industrial shares ad-
vsrccd. and, m comparison with the
rest o. the list. were moderately &C
tive. renusy'vauia closed unchanged
disrccardirC announcement OF Novem-
her earnings. These were less favor
able than for October. the falling on
,r gross reaching shout the same
amount as for shat month. but the loss
iu net being more than doubled.
Prcrars. ions for january disburse-
ments bv corporations were rejected
in the Clearing House statement. De
mand deposits a. the end Of inc week
has been expanded nearly S42,O0O,OOO'
and for the weekly average about SIG
100000 Loans AZ The beginning Of
business Yesterday were some ST.
600 900 greater than the week before.
As result 90 the greater deposit
liabilities surplus was reduced little
Cvor S3.0O0.000 ir spite or an increase
ir reserve iu vaults and In the locsl
regional bank OF some >$,5oo.oOO. EN-
cess reserve ~ the beginning OF the
wear. however stands 81 the great total
Of S114.000.000. Further evidence OF
monetary ease was presented by the
Federal Reserve Bank here, which re-
ported RED scouu.s reduced during the
week 20 less than 100000. and c,rcule-
tiou outstanding was only $50 .Ouo.OoO
Sterling exchange was lower yeSter-
dsy, demand touching iSt"t and clos
iUg 81 ass. with q decidedly weak ten
dency displayed during the day News
that the Bank OF England had sold
gold for foreign account caused con
siderable speculation aS TO whether or
not this would ultimately reach New
y ork. AZ present we are 30 no need OF
gold. and % is NOT 'mpOs- lDle trat ar
engagements such as were suggested q
few months sC0 20 protect our supply
may be made i'm favor Of Great Britain.
Opening Of the London Stock Exchange
on Monday iS 10 be so limited that no
marked increase in sales of our secu-
rites here by English holders is ex-
pccted.
The Argentine loan. after long
negotiations and some competition. has
finally been placed in this country.
The accommodation was furnished by
p syndicate Of banks in this city, Chi
csgo. Philadelphia, Pittsburgh and
Boston. The loan amounts 10 Sl5.-
GOO. 600. and Will consist of one, two
and three year per cent gold notes.
This is the first important financing for
tho benefit Of nations 20 the south al
ranged here since war made European
money markets less responsive, but
others may be expected 10 follow.