New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1915-03-09
FINANCIAL RECORD
HERE and ABROAD
Securities Make General
Broad Advance-Mar-
ket More Active.

Securities yesterday Joined IN
broad general advance that sent prices
up from one 10 two points or more
above the closing figures OF last week
20 the best of the present movement.
For the greater part of the day bust
ness was active, and the total OF over
100000 shares was the largest Tor some
time. In the late trading activity died
away and there was reaction OF from
Il TO II of a point Bonds were firm,
with business on good scale.
At the opening prices were advanced
only little above those of Saturdays
close. Steel SOON improved, with much
discussion of increased operation in
the trade, and the rest OF the list fol-
lowed. At its best Steel reached 80,
s points above its minimum, Cana
dian Pacific was active in London and
showed early strength here, making a
maximum improvement of over
points. New Haven responded to the
statement of earnings for January of
small loss in gross and q good gain
in net by going nearly 3 points above
the final figures of Saturday. Standard
Issues generally were around point
higher on the day.
Specific news from abroad TO account
for the strength in securities was lack
ing. The feeling, now widespread, that
the end Of the war was nearer than had
been supposed caused such advices as
those showing the possibility of other
nations joining in hostilities TO be con-
sidered favorable as Fastening the
hoped-for peace. Great Britain's an
nouncement Of conditions under which
cotton purchased before March 2 for
shipment 20 neutral countries be al
lowed 70 proceed 10 It's destination or
purchaser caused no alarm, though IL
was accompanied by the intimation
that orders for stopping all supplies
for Germany would soon be issued.
The Supreme Court, In two decisions
fsvoring the railroads against confisca-
tory state legislation, aided in main
tanning the strong tone OF the market
Tho Norfolk & Western was upheld In
its contention that two cents mile
passenger rate fixed by West Virginia
was unremunerative, though the state
had insisted that passengers expenses
could not be separated TO show cost Of
operation and that the road was max
ing a good profit on its business as a
whole. The Northern Pacific and the
Minneapolis, St. Paul & Sault Ste. Ma
RE had the North Dakota coal rate
law declared void. The Supreme Court
of the state had upheld the law, insist
ing that railroad, to show rates we're
confscatory, must prove the entire
business within the state was unprofit
able. but the Supreme Court Of the
United States failed to sustain the ar
gument.
Money rates continued favorable 70
market activity. Call loans renewed.
as on Friday, Mt 1sa per cent, with time
accommodation showing q little easier
tendency. Bank and bankers accept
ances continued in good demand, but
the supply was still short. Such obi
cations, TO run for thirty days, passed
as low as 2is per cent.
Foreign exchange rates were trihe
easier, though exchange on Berlin was
steady because of remittance for the
new German loan. The Bank of Eng
land sold 100000 in gold. but no en-
gagements for import here were made
known during business hours. In sd-
dition, the bank set aside 94S0,000 for
Argentine account, made necessary by
heavy shipments of Argentine grain
now being received in Great Britain.