New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1915-01-21
FINANCIAL RECORD
HERE And ABROAD
Irregular Change in Prices
MO. p. Issues Continue
Their Recovery.

Considerable irregulsrity developed
in the securities trading yesterday and
the advance was halted Business, how
ever. was still on fairly large scale,
and though the list % stocks dealt in
was not so broad as on Monday and
Tuesday dealings were well distrib-
utcd. Bonds changed HANDS IN greater
volume. the total FOR the day reaching
nearly 100000. the highest since re-
sumption OF trading, and prices con-
tinued firm. A good business over the
counter was reported by bond houses,
with an unusually heavy inquiry that
seemed 20 presage further investment
buying.
Missouri Pacific resumed It's upward
course In the afternoon, reaching new
high levels on the present recovery
and the bonds went higher, stimulated
by definite news confirming the passing
of control from interests that held u
so long Announcement by bankers
that proxies were being sent out TO IN
sure election o. new board OF d.
rectorS was not made until after the
close. Sealing down or fixed charges
now 50 great as 60 allow little margin
Of safety even ~ years OF good earn
incs and arrangement Tor coming ma
turtles. including further extension OF
the notes due this summer. are part
OF the reconstruction proposed.
In the late trading other low priced
railroad shares were higher, Missouri
Kansas & Texas, common ana pre-
ferrec. being conspicuous. Strengta
and considerable activity were shown
al the close by Reading. Sou-AeI" Ia
cifc and s. Psu-
q d q
the early dealings. Their decline from
Che dav before was naturally connected
with selling for London account, though
this was denied in quarters usuat!y
we'll informed Both did better as the
day went on.
Sterling exchange sitter some esrly
frmness went lower before the Gay
had ended. Money rates were Little
changed. call loans renewing g. PEI
cent and fixed date funds being ofered
a. low as pa for sixty days. Mercan
tile paper moved IN little better Vo.-
ume, with 1 per cent the ruling rave
though some was placed unoer 'A@s
fgure.
In London to-dsy's payment Of an IN
stalrlent on the war loan was ignored
BIZ the money market. discount Fates
continuing az their usually 10" leNets'
Security prices genefa.lI were s,eau! .
American shares continuing the. up
ward movemen, Of our market OF the
dsv before. Tho British government
restrictions against new security IS
sues other than English for the presen;
viii. il is expected. be followed oy
further Canadian borrowing here.
General outside news Of the day hao
little market effect here. Banks. OF
Northern New Jersey presented tneir
protest against being placed IN dill
5erent Federal Reserve district from
This CITY. Now that the preJuclce
against New York in administration
circles has apparently diminished since
the outbreak Of war, il is possible thao
these banks may be placed with. the
centre with which convenience and the
customary course Of business have nat
urally joined -hem
Weekly reviews o. the steel TRACE
recognized that new business had not
fulflled the promise Of early IN the
month. Mil operations, however, have
been enlarged and railroad buying is
reported fair. Pig iron prices IN
Great Britain are rising, and this may
result in better export business mere
For the present. however, ocean freight
rates are too high 20 make any lmme-
date general movement probable.