New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1915-02-26
FINANCIAL RECORD
HERE AND ABROAD
Upturn on Short Covering
Reaction at Close
More Gold Imports.

Though there was little IN 0Fei
night developments abroad 70
strengthen security prices the mar
he, opened higher and advanced &C
lively in the early trading Before 'ne
6rst hour had ended the pace s!acSeheui'
"a trading was quiet for the rest o.
TIE dav but gains were well man az
tained until just before the cIoSe. ny
short interest in the recent cecI'he hou ma.
been so extended that unGei PtcSe"SS
s6ro-roal conditions Of trading, II nau
become rather unwield.y, and proIeS
sional repurchGses were respo"S'V'o
Tor the early recovery. bonGS A lso
we're steadier, convortibles showing
some improvement. -, che
~ ne late reaction some OF tne
market leaders lost most OF the Gay .
Cain and closed 81 or near theF 10"
est. Steel after early improNeHe"1' y.
almost a point closed with neI gan
~ only small fraction. keaolhg, -
high Valley and Copper also emu
the DAY only fTsctionaily hlFheI, "u'' y
Union Pacific made net adNahCe, v. - :"
point. Atchison. when pI'Se','J ct
earnings for last MONTH WIS '''''
small transactions. ..-.l. "a
a fov, industrial spccialties made re-
.oycvios OF some proportions. W 'ho
r,ore prominent issues for whlch noS
..iri,,,,rn prices had been estaolsheu'
paItinore and Ohio and New haven
-iosed above the low levels set Whl!e
pressed Steel Car, Soaboard Ar In
"a coD.bcrn Railway preferred enaeu
ss FAR down as permitted.
Abroad the Bank of England re,
,.oTtod q loss Of over sl,50O,OOO IN goid
snd. with deposit liabilities heaVlei' tLe
reserve proportion was nearly 2 PEI
cent under that Of the week 3eloie,
part Of the loss in gold was oue "
ssle Of f2Ol 900 for import mere GH
wednesday. and eG96,0OO more IN con.
was released yesterday Local oahh !..
announced engagement OF goIu JOY IN
port through Ottawa, but tnls Wa =.
suFirient TO strengthen the steIIlhs
oTcbanre. Sterling rates early yes
,o,doy were about 81 the level OF the
snoI trading of the day before, out
lee there was q decline Of u OF a
cent in the pound that brought sigh'
drafts on London down 20 4sO. -.
The money market here showed III
ale variation from ease that has pre-
called so long. Call loans renewed az
Q ner cent and were made as low as "a
While little was done in time &C
cornnodation. In London discount
rates hardened, following the publlGs-
zion Of the unfayorable return by the
Rank Of England. The Bank OF france nee
renorted an increase Of over l2oOC'VV,V
francs IN metallic reserve, OF when Gi!.
over 1000 900 francs was in gold. Or
cpiatjon increased heavily during the
veek. with loans reduced. -,
From Berlin Il was announced tnst
authorizations would be opened on sat
nrdav for a new 8 per cent war loan
"a run about ten years. No limit VIII
he nut TO applications. The bonds VIII
be issued az 9Si7, per cent higher
than those put out last Fall, when are are
now being traded in al par. In LONDON
nreDaration IS being made for large
Queensland loan 10 refund maturltles
due In the sumner. II is reported that
Canadian government loan. privately NItoG
,,lpcsd there amounted 70 only S5OO'OOO'
Eere the 100000 Anaconda two-year
liner cent notes were all sold before
The business day had ended, good PROOF
that investment demand has not beer
satisfied by recent security issues.