New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1915-01-22
FINANCIAL RECORD
HERE And ABROAD
Market Closes Firm AZ.
ter Early IrreguIarity-
Steel More Active.

The securities market Yesterday had
10 withstand some selling for account
OF foreign owners and more or less
pront taking by local traders. Con-
siderable irregularty developed during
the DAY. but m the final trading prices
were firm and active issues closed with
gains from substantial fraction 20 a
point or more. Both m stocks and
bonds the volume o. trading was the
heaviest since the rcopenng of the
exchange. and business was done boz q
broad range OF securities. Bonds
closed irregular
Missouri Pacific again furnished
more OF She day business than any
other issue. A. the opening thcre was
some profit taking or the recent ad-
vance. then the stock got higher than
on Wednesday, but 70 closed a fraction
down. The bonds were quiet and low
CT. with talk OF probable assessment.
After business hours @ statement from
the present management confirmed the
understanding that there would bc no
tight for control. urging stockholders
10 send 'n proxies 90 the bankers
committee.
steel was more actively traded in
than heretofore this week and closed
higher al 63 after going above that
figure. Reports Of resumption a. the
corporations plants and rrmor prices
Tor iron no Great Britain aided ln the
Improvement. Reading was exception
ally strong. Pennsylvania Union Pa
ciic and New York Central led in the
late upturu. Copper shares were firm
early IN the day. with reports OF bet
ter prices for the metal Western
Maryland. common and preferred. made
recovery Of 4 90 IS points. Erie shares
improved and Canadian Pacific made
further gain.
American shares furnished the most
active trading in London, government
issues there being comparatively quiet
Discount rates I'm the British capita.
went lower on the day that payment
was made Of another instalment on
the war loan. The Bank Of England
reported a gain Of over 100000 M
gold. with the reserve percentage prac-
rcally the same as the week before.
Loans were some s2,000,O00 greater
and the markets deposits al the bank
were heavily increased IN preparation
for to-day's payment 10 the govern
ment
Federal Reserve banks are calling
for the second instalment OF subscrip-
tion to capital stock, 10 be made no'
later than February Three months
ago there was some fear that interior
institutions. by calling on central re
serve cities TO furnish gold. might
cause embarrassment here, bat at pres
ent payment can be made without
difficulty. The Federal Reserve Board,
i'm order 10 hasten retirement Of emer-
rency currency in the South, is au-
thor'zing lower discount rates IN that
section. Here monetary conditions
continued easy. with little done m time
loans and mercantile paper well aD-
sorbed by local Institutions
Foreign exchange rates were STEADY
The committee in charge of the bank
ers' gold pool will meet to-day and
~ is expected. discontinue the exist
ence Of this relief fund. The special
report issued al Washington by the
Department OF Commerce On export
Of foodstufs shows clearly why u is
no longer necessary for US 10 consider
possible payment in gold of debts
abroad Exports Of wheat have been
known 10 be in great volume. but, IN
addition. oats were sent abroad IN De
corber 70 a larger total than IN the
entire twelve months OF 1913. and ship
ments Of beef, fresh and preserved
we're also unusually great