New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1915-04-27
FINANCIAL RECORD
HERE AND ABROAD
Prices Give Way in Late
Selling PreSSure-War
News a Factor.

Well distributed strength, apparen
in yesterdays early dealings. was o
short duration. A period of irregu
larity followed, the copper issues pre-
senting about the only firm section
/ Doubt over the future of railroads
that are trying TO extend maturing
note issues had more effect and re
ports of Germany's great assault tow
ard the British Channel intensified the
uncertainty. There was no such az
cressive buying as characterized The
latter part of Saturdays trading The
short interest found prices inclined
to go lower and applied considerable
selling pressure in the final hour.
At the end of the day early gains OF
standard issues and specialties were
for the most part changed into losses
that in some instances reached point
or more. After noon the volume OF
business was greatly decreased, put III
the final trading was on a falrly large
scale. The days total was little over
three-ouarters of million shares. Ac-
tivity in the bond market continued
with prices generally steady.
News of the great conflict being
fought in Flanders was meagre and
conflicting. but enough reached the
market TO make plain that the Ger
mans were making great effort Tor
ward. instead of waiting for the long
heralded spring advance of the Allies.
With important trade relations of this
country now confined through British
naval superiority to the Allies. and ex-
pectation Of peace based on Germany's
defeat, the days dispatches gave suiil =
cient cause for a halt in our markets
improvement.
OF our own immediate difficulties in
the problems of weaker railroads, little
definite was learned in trading hours.
Yesterday was the last day set for
deposits Of Missouri, Kansas & Texas
notes under the extension agreement,
but as il was understood that the total
turned in amounted TO less than three
quarters of the $19,000,000 due on Sat
urday, II was expected that further
time would be offered. The great i'm
provement in earnings shown in the
present fiscal year over that ended last
June still leads many 10 believe that
some arrangement will be made to
keep the road out of the courts.
Trading in Missouri, Kansas & Texas
issues was light, but after some re-
covery the common closed with loss
of substantial fraction and the pre-
ferred Of a point and more, while the
bonds were weak. The notes due the
first of May were offered at &c without
finding purchasers. Missouri Pacific
went lower but made up the greater
part of its loss, and there was little
business in the bonds.
Standard RAILROAD stocks advanced
impressively for a short time, but were
literally supplied, and for the most
part closed lower. Steel, after opening
firm ended with loss Of more than a
point. The predicted favorable de-
cision in the antitrust suit failed to
appear and estimates of the first quar-
ter's earnings to be presented to-day
were unfavOrable.
Monetary conditions were little
changed. Call loans were renewed at
? per cent, but were made as high as
Pr. There was an easier tendency in
time loans, but rates remained as at
the end Of last week Sterling ex-
change was firmer, London checks clos
ing above 4.79. During business hours
there was no confirmation here of i'm
port of the gold released by the Bank
of France as reported by cable.