New-York tribune., 1915-03-24
FINANCIAL RECORD
HERE AND ABROAD
Standard Issues Advance
In Heaviest Trading
Since ReOpening.

Securities yesterday made a general
movement inward in the largest mar
ket since reopening. Industrial spe-
cialtes, which had been so favored in
the trade, we're less conspicuous. and
standard issues of the international list
assumed leadership as the day went on.
Maximum gains of from 1 to s points
were common and strength was main
tained TO the close, though final prices
were shaded on profit taking More
than 10000 shares were dealt in dur
ing the day. The bond market also
showed more activity, with broad list
dealt in at firm prices.
For this broad advance the days
news provided little direct reason.
From abroad recent dispatches have
indicated possibility OF the Allies push
ing events 20 some favorable conc!u-
sicn. For the spring Il forward move
ment mas been promised along the bat
tie line in France and Belgium. and in
the east the fall Of Przemysl has left
the way open 10 a more effective in
yas,on of Austrian territory BY Rus
sian forces. The British embargo or
der seems now unlikely to involve
this country in the European conflict.
And We are in the season when open
Weather brings new buying throughout
the country for agricultural and con-
s:Yuction purposes that in the securi-
lies market is reflected in the spring
rise.
From the opening yesterday the mar
ket was strong. In the early trading
Bethlehem Steel, Rubber and other So
called American industrials advanced.
Then Union Pacific showed notable
gain, Reading and Steel improved and
market leaders Of former days took
precedence. Reading, which Of late
has been heavy, at its best was more
than points higher than Mondays
close. Steel went about AS, more than
10 points above its minimum, and
ended the day trife under that fig
ure, with net gain of over points
Union Pacific .Iade a maximum i'm
provement of over points, and South
ern Pacific advanced with good state
ment for February that showed the
loss in gross cut down and an increase
in net. Amalgamated Copper gained
nearly points on heavy trading.
I Bethlehem Steel after a ! point ad-
vance closed more than points down.
Money for market purposes was abun-
dant at easy rates. CAL loans again
renewed at Ia per cent and furnished
enough accommodation TO traders so
that little was done in time loans.
Mercantile paper was in good demand
and was placed as low as 81, per cent.
], Tf1f tor a 0 r, ? q
position in itself furnished an argu-
ment for strength in security prices.
Demand sterling sold at a new low
level of 4.78ls in the pound, though
there was some recovery when engage
ment of s7.30O,OO0 in gold for import
from Ottawa was announced. This
makes S1030O,000 already taken this
week and nearly s26.000000 since the
first of the year. With sterling checks
closing still considerably under 479
further return from the S73,000,000 or
so we sent to Ottawa may be expected
Temporary credits are being granted
by local institutions to their London
correspondents, but some more definite
measures in favor Of the London mar
ket are expected.
How great is the amount of debt on
current account that Europe is piling
up here appeared from statistics of our
foreign trade presented during the day.
/ For February an export excess of
more than S173,OOO,OOO was reported
from Washington, produced by an i'm
mensc expansion Of exports beyond
those of the same month of the year
before, to which was added some re-
| duction of imports Last week the
principal customs districts showed a
| favorable trade balance of nearly S28,-
/ 100000, making S1O3, 100000 in the first
/ three weeks of March, and the volume
/ Of war orders continues great.