New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1915-03-04
FINANCIAL RECORD
HERE AND ABROAD
Securities Maintain Early
Strength-Call Loans
at 10 Per Cent.

Again securities advanced in the
early trading yesterday, with activity
diminishing later. Strength, however.
was maintained up TO the close. and
the days business was the largest for
r week The list Of stocks traded IN
broadeucd, and bonds. IN spite of in
creased selling for delayed delivery.
were firm. The outside public is TAX
ing little important interest in the
market. but odd lot houses reported
buying orders much better.
SO far "a professional traders are
concerned. tho general level OF prices
had been approaching too close to min
imums to offer much incentive to any
extensive operations on the short side.
Stocks were scarce yesterday, and Gov
crinC Of short commitments generally
resulted in advances. In addition some
traders changed TO the bull side.
Gcrmany's cOnciliatory note. made
public overnight. was taken as favor
able argument While il Is true the
concessions made do not go far, IT
was felt Yesterday that the more
friendly attitude a shown IN this re-
plv might be repeated by Great Brit
ain. The threat Of seizure by the Al
lies Of goods on their way TO and from
enemies territory may. after all. be
modified, for the Allies are such heavy
purchasers here that they need or
good Will.
Maximum advances of a point or
more were fairly common among &C
tive stocks yesterday. Reading closed
over point higher and Stee! AZ Us
best was q point up, within : o. a.
Baltimore & Ohio made further recoV-
cry, and a number of the southern
railroads which had recently been so
depressed made some Improvement,
New Haven continued its advance, and
Northern Pacific was exceptionally
strong. New York Central was heaVy
and closed q shade lower
Third Avenue. i'm face Of repeated
-dcmals that dividends could be eX-
-rected. went above 90 for the nrSt time
since the rcceiverShip. Dlstllers Sc
curitice stock and bonds recovered only
a fraction from Tuesdays decline. and
the bonds. despite assurances that the
interest vas safe. were weak again IN
the morning.
None, for market purposes here
showed further ease. Call loans. when
renewed at per cent, were made as
low "a q. for the first time since the
middle Of January. Time loans on col
lateral showed am easier tendency Tor
the longer maturltleS. Commercial pa
ner moved ii little more freely and
there was good business IN bank &C
ccptanceS.
The foreign exchange market was
quiet. sterling rates being htte
frmer in the afternoon on bankers
purchases. German exchange did not
maintain its funues5 of the day be-
fore. Preliminary figures OF our for
eicn trade showed an export excess Of
little under S120, 100000 last month.
For the last week the favorable bal
auce, which had been running $4,000
900 and over, dropped of to about Sl9,..
0GO. 600. principally through increased
imports. Il may be that this movement
continued will allow a larger proper
tiop of Europes purchases here to be
paid in goods that had seemed proba-
bic. More gold was received yesterday
from Canada.
From The steel trade reports we're re-
ccived of fair Improvement IN Iebru-
arv. but doubt was expressed by trade
authorities as 10 any great amount or
new contracts being placed this month
at the higher prices effective. PIG
iron production was increased mate
rally in the last four weeks. the active
capacity at the beginning Of March be
ing some 1000 tons above that Of a
month before.