New-York tribune., 1915-03-17
FINANCIAL RECORD
HERE AND ABROAD
Market Closes Irregularly
Lower-Reading Under
Selling Pressure.

Though business on the Stock Ex-
change expanded a little from the low
total Of the day before, the market
was almost wholly professional, and
changes in standard issues were for the
greater part Of little moment. Early
IN the day business in specia.ties was
fairly brisk, but selling Of Reading
checked the trading, and after noon
little was done. AT the close active
issues were irrcgularly lower Bonds
changed hands in better volume than
the day before, with prices well main
tanned.
Under professional selling pressure
Reading declined nearly ? points, but
recovered a good deal of this loss be-
fore the close. RumOrs circulated yes
terday changed from discussion OF
probability of an adverse decision by
The Interstate Commerce Commission
on cCal rates 20 prophecies that direc-
tors to-day would not declare dividend
ut the regular rate OF 10 per cent
Lehich Valley showed some early weak
ness IN sympathy with Reading Cana
dian Pacific dropped nearly points,
making up part OF this later.
Steel which had been strong on
Monday, lost much Of its improvement,
Union and Southern Pacific, 81. Paul
and Copper were also fracuonaliy
lower. Low priced copper shares were
firm following a rise in the price or
copper in London, due 20 shortage OF
ammunition. Among the lndustrials
Bethlehem Steel and General Motors
were particularly prominent, reaching
90 new high records.
Less was heard as to probable re-
suits Of the British Order IN Council
Foreign exchange rates were irregular,
with sterling lower on the day. Sight
drafts on London sold under 46O IN
the pound. around the import point, In
spite Of continued strength IN London
discount rates. Francs were a little
cheaper, while rates on Berlin were
steady. Preparations are reported for
formation Of syndicate here and III
the Middle West to take $lO,OOO,OOO OF
3 Der cent German Treasury notes.
British restrictions aimed at Ger
many's trade seemed likely to reduce
materially our shipments TO neutral
ports. such as those Of the Scandl-
navian countries and Of the Neither
lands and Italy, but while tho Allies
continue their heavy purchase Of munl-
tions Of war in this country such losses
are comparatively insignificant. An
nouncement in London that home fac
tories were not yet able 70 furnish
war supplies i'm sufficient quantities
means continued buying for some time
in our markets.
Last week, in the rush to get goods
started across the water before re-
ouirements Of ocean carriers and in
surance underwriters became too bur
densome, shipments from this port
alone reached record total Of more
than s4O,S00,00O, and the couptry's ex-
port balance was estimated at S47,OOO,-
600. the greatest ever known. Exports
10 Great Britain from this port last
week were valued az more than Sl4,-
100000, and 20 France at S4,O0O,OOO.
Among the neutral powers shipments
20 the Netherlands we're over S4,oOO,-
600. 70 Italy S4O0O,00 and TO Denmark
and Sweden each $4,000, 900. The total
consigned to Germany, Sl2,S56, shows
of how little Importance to trade are
restrictions against direct trade with
that country.
In London the Bank Of England drew
further on the supply of loanable funds
fn the ooen market, and discounts were
firm. Here monetary conditions con
tinued easy. Call money renewed 4 Of
! per cent lower at IA per cent, at
which rate most Of the loans were
made. while little was done in time &C
commodation. About S6OO,000 of the
gold whose engagement was announced
on Saturday was received at the sub
Treasury from Canada.