New-York tribune., 1915-03-27
FINANCIAL RECORD
HERE AND ABROAD
Strength at Opening and
Near CloSe-CommiSSiOn
Houses Less Active.

Immediately after the opening yes
terday securities were rushed up until
active issues showed gains Of point
or more. but there was less buying by
commission houses, and most of the
advance was soon lost on sales TO take
profits and for short account. In the
late afternoon another advance car
ried prices upward until at the close
fractional gains were general. Railroad
stocks continued TO lead tho market,
and liquidation, apparently from for
eiCn sources, was well absorbed
Such frmncss, following the pro
nouncod strength OF earlier IN the
week. gave much encouragement 20
those committed to the long side. On
declines trading fell of. and business
on the day was materially reduced from
recent good totals In bonds dealings
were not up TO those Of Thursday, and
some ir~ccularity in prices developed.
The list Of bonds traded in was unusu-
ally broad.
Low priced railroad stocks were in
good demand and generally made frac-
tional improvement. Missouri, Kansas
& Texas common and preferred we're
exceptionally strong. the preferred
closing 1 points above its low OF the
day before. II is now generally expect
Cd that the $l9.0o0.OO0 Of notes due IN
Nav will be cared for without diff
Guilty. New Haven advanced 8 points
in fairly active trading. estimates OF
February earnings being particularly
favorable. Southern Pacific continued
its improvement, making a gain OF over
q point. Reading was firm IN the late
trading. with d maximum advance OF
nearly . points The stock of the old
Chicago. Rock Island & Pacific Railway
was at one time decidedly weak, but re
covered part Of its loss Steel closed
at its best, but only fraction higher.
The ease Of money here continued,
call loans renewing over until Monday
at . per cent and time accommodation
remaining quiet at unchanged rates.
Funds continue 20 flow here from IN
terror cities. though IN smaller volume.
The net gain from this source last
week was about enough 10 Offset losses
20 the Sub-Troasury, so gold imports
received Of S2l 100000 should mean
large increase in the aggregate re-
serves Of Clearing House institutions
TODAY. Loans may be expected to eX-
pand. since security market activity
has been added 20 the floating supply
of securities TO be carried.
The foreign exchange market saw
wide fluctuations, as spectators took
profits on the recent rise IN rates. De
mand sterling opened firm and ad-
vanced TO 4S0As. but reacted to 4.79s4,
closing a shade higher Continued
frmness Of discount rates in London
has strengthened sterling exchange
here. and purchases for remittance IN
pavment Of London's sales Of our
stocks i'm this market have increased. NO
further Withdrawals OF gold for import
were reported, but S4.3O0.O00 was re-
ceivcd on account Of previous engage
ments.
Orders here for foodstufs and war
supplies by Great Britain, France ano
Russia are expected 20 continue heavy.
Consequently, requests for some ar
rancemeDt TO offset the drain on
Europe's resources are pressing. Some
accommodation has already been
granted by the banks here, but
this i'm itself is not sufficient Be
fore long we may expect offerings
in this market of the securities o.
European nations. Negotiations are
taking some time, as it is necessary to
arrange such issues on terms attractive
TO purchasers here. In London rep
resentative banker from this city IS
now present to explain our point o.
view. and some definite announcement
is expected next week. a French loan,
amounting TO less than S50.OOO,OOO, Will,
Il ia understood, be the first 10 be put
ont here