New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1915-04-02
FINANCIAL RECORD
HERE AND ABROAD
Market Closes Irregular,
After Erratic Changes
Sterling Rates Low.

Securities yesterday fuctuateu err
ratically and closed with recent specu-
lstive favorites Irregular. and the IN,
ternational list ended little changed
after considerable foreign selling had
been absorbed. Traders took profits
and made some short commitments on
the chance that developments over the
holiday might be unfsvorable either In
cur own delicate relations with the
warning powers, or in the Far East,
where Japan's aggressive demands on
China contain elements of danger.
The outside public continued to show
some interest on the buying side and
the DAVIS total, while much below that
of Wednesday, was we'll above bOOO
shares. Removal Of minimum prices
was practically without influence,
present market levels being so FAR
above the low limits set. 3,
At the opening, stocks were ofered
freely, but there was good buying ana
some improvement. Then Rock lslanu
became weak and caused considerable
unsettlement throughout the rest OF
the market. In the early afternoon
prices advanced, out before the close
the market became Irregular and weak
ard spots. Another large days bust
ress was done in bonds, speculative
usual share Of attention.
Rock Island continued to lead the
market in activity. After recovering
from its early weakness II dechneo
again in the late trading, and at the
close had lost over three points OF us
advance this week. Bethlehem Steel
after A considerable reaction, made up
ali save a fraction of its loss. The
Erie stocks continued firm. Missouri,
K.nsas E. Texas preferred and MIS-
souri, Pacific advanced in fairly active
trading. interchangeable Metropolitan,
common and preferred, were both put
higher. ,, od
fraction following publication OF rep
ruary earnings that showed with gross
a trife better than last year and net
more than doubled. Pennsylvania END
ed the day practically unchanged
though It's February report gave gain
of some 30 per cent in net, with
small loss In gross. OF usual mar
ket leaders Steel, Copper and Union
and Southern Pacific closed fraction
ally higher. while Reading was lower:
The weekly return of the Bank OF
England, which takes no account OF
the large sums of gold set aside for
special purposes, was poor enough 10
indicate imminence Of relief measures
through the expected British credit
here. Loans were expanded s1S,OOO',,
600. deposit liabilities were enlarged
and the Banks stock of bullion was
reduced by more than s3,000,O0O. As a
result. the reserve proportion dropped
more than per cent TO about 1874 1.
the smallest since the first month Of
the war.
Following publication Of this poor
bank return, discount rates in London
hardened, pa per cent being quoted on
bills up to three months. This firm
ness of London discounts did not have
its usual influence toward stiffening
sterling exchange here. Bills were SOLD
freely and sight drafts on London end
cd the day lower at 4.79$s. Paris
checks were steady. Monetary condi-
lions here were a trife. frmer, with
time accommodation higher for some
Of the maturities. Call loans renewed
at per cent again, but were made as
high as 2l2.