New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1915-12-25
MARKET NEWS
AND COMMENT
Early Dealings on a Good
Scale at Firm Prices
Quiet Later.
u. S. STEEL MORE
ACTIVELY DEALT IN
Loss of Nearly S13,000,00O in
Surplus Reserve-Sterl-
ing Steady.

Before Christmas Eve cut down bust
ness on the Stock Exchange dealings
we're on a fairly good scale and prices
improved This period Of activity prac-
:ically came % an end with the first
hour. After that prices ssgged little
under some profit taking, though here
AID there a few speculative upturns
were engineered IN the later dealings.
Final changes were irregular and Of no
great extent, but generally the market
held fairly steady in the late dull trad
irg. The days total Of well over half
million shares was principally account
cd for through the morning activity.
United States Steel was in consider
able demand, dealings that approached
100000 shares being the largest IN the
issue for two weeks. At 87@a 10 was up
nearly point. but 10 went or toward
the close. % end y Of point under It's
best. There was some late improve
ment DID, Goodrich. Mercantile Marine
preferred and Baldwin Locomotive, but
movements iu these and similar issues
did not get far General Motors Oh
gmall amount Of business made up ~
points Of its recent loss.
News OF the day was such as 70 con
tiuue the better feeling OF sessions i'm
mediatcly preceding, even though from
the nature Of the market 10 had httIe
influence on che course Of prices. The
feport on Cur railroad securities owned
abroad. placing on them q market value
of around S1.7jO, 100000, was consider
ably under previous estimates, and IN
dicated that we have absorbed very
large sales for European account with
comparative ease.
Advices from Austria made serious
difficulty over the AncOna seem less
probable. The Interstate Commerce
Commission i1 allowing further IN
creases on certain commodity rates TO
Western railroads added 20 the en-
couraging decisions made by that board.
Northern Pacific earnings for NOvem-
Der were almost as remarkable as those
Of Southern PccIGcs.
The local money market was little
easier. Call loans did not get above
per cent, and were renewed az la.
While little was done lon time accom-
mediation, rates showed some tendency
90 rclaz. The Clearing House state
ment giving condition on Friday morn
ing because of the holiday showed a
loss of nearly Sl3,OOOOOO 10 surplus.
Loans were higher again, expanding
100000. with au increase Of under
$1,000. 900 % demand deposits. Aggre-
gate reserve fell off Sl2.O0O0O0. Cash
demands. as the end Of the year draws
nearer. are apparently more than suf-
fcicnt 10 absorb gold imports, though
known movements Of currency have not
indicated e. particularly large loss TO
interior points.
In foreign exchange little was done.
and sterling recovered from some slight
weakness earlier. TO close at the final
levels of Thursday. Our exports hold
TIP well, some S54.0OO.OOO being re-
ported in This district in the five bust
ness days Of last week. but year-end re-
cuircments in the exchange market are
large. Little news of financial char
acter came from abroad outside Of an
nounccmeut Of new war loan in Italy,
consisting OF twenty-five year per
cent bonds offered AZ 81 D..