New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1915-02-11
FINANCIAL RECORD
HERE And ABROAD
Market Little Affected by
Gold Imports and Gain
i'm Steel Orders.

The securities market YESTERDAY was
narrow and professional. taking niue
note Of tho beginning made toward re-
turn from Ottawa OF gold We Shlppca
there last year for account OF the bahA
Of England 4 gain % much greater
proport rons' than had been expected IN
;hc steel Corporations untitled orders
also had little market effect. EarI\ IN
tho dav stocks were irrcCulariy lower
with recovery toward noon and 4 sharp
advance At the close. Net gains rang
ing from a ldcrablc traction 70
point or so were common on the day.
Ropd trading fell oF, with an carly
disposition toward irrcgularlty IN
prices. Bond houses reported hlds
Withdrawn ard demand Slackcncd be
cause OF the high rate OF interest on
tho New York Ccntrai's new dcbcn-
lures.
Reading and lchich Valley gave way
under early selling pressure, but rccoN-
cred a little before the close. ltumoFs
were ;adustriouslv circulated that an
adverse decision might soon be expect
ID in the Interstate Commerce Com
missions inquiry into anthracite rates
IN which final briefs were received
month or SO ago. Further recovery
was made by Canadian PACING ana
Southern Pacific and New York Centra'
made VI part Of Tuesdays loss. Beth
lrbcw steel. Pittsburgh Coal common
and prcfcrrcd and Maxwell motor is
sue, advanced among the industrlais
Nc,icaU Petroleum was comparatively
quiet.
United States steel made only
small fractional advance when the cor
poratious gain Of moro than AOVVOU
tons iu untitled orders was announced
~ noon. A. mill operations had been
considerably extended during the
month Just ended, II had been hgured
in the trade that tho increase would pc
calv from 10000 90 100000 tons. Tow
ard tho end Of the day tho stock adj
vsuced rapidly 20 42b. point above
Tuesdays final figure, and closed only
shade lower.
Trade publications now put steel
mill operation at nearly 60 per cent OF
capaci.v. about double the low rate or
November. The steel Corporations OK
mort trrdo Is better than normal, and
fourteen blast furnaces have recently
been blown in. To recent higher prices
au advance of 81 a ton on wire prod
1tcte was added yesterday. Pig iron
s'1l shows little domestic buying
though inquiries from abroad arc IN
good volume.
Government figures OF foreign trade
for last week give the largest export
balance over recorded, more than S3t,-
600 600 Commercial bills arising from
this great movement OF goods are
pressing into the market and purchases
arc falling Of To Offset the resulting
decline 100 sterling exchange tho Bank
of England iu Tic last two days re.
leased 100000 in gold com, and
S25Oo.OOo OF the gold VIC shipped 70
Cauada for Great Britain ls on its way
back. The import movement is expect
Cd TO extend further and an engage
mont Of Up 80 SlO.0OO.O00 was talked Of
Yesterday. Demand sterling ended the
day rifle tirmcr.
Details OF New York CcntrsIs iinan-
eng were made public and agreed gen
orally with popular forecast. An issue
OF 100000. 900 OF per cent twenty
wear convertible dcbonturc bonds viii
he offered TO stockholders at par TO the
amount OF 40 per cent Of their hold
ings. The proceeds Will be used to re-
tire notes which now have practically
thc same carrying charges. The Union
Pacific has agreed to renewal Of
$1,000. 900 onc-ycar per cent New
York Central notes At the same rate
Of interest and some Sl2,C0O,OOO notes
held in London were paid of early
this month.