New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1915-07-21
FINANCIAL RECORD
HERE AND ABROAD
Dealings in Securities Are
Lighter - Irregular
Price Changes.

The securities market, which on
Monday had approached business of
100000 shares. was much quietcr yes
tcrday. and ended with prices irregu-
larly changed after session of cen
fused trading. A lew speculative
favorites were advanced to new high
records The railroad list was firm
for a while and closed around he
final prices Of the day before. While
the speculation in war stocks con-
tinucd. further declines in the group
were in evidence
In the last few minutes of trading
American Can went 20 new high rec
ord. more than points above Mon
days close. Bethlehem Steel got with
i'm ~ points Of 200, ending only half
point below its best, with a net gain
of %. Crucible Steel was still
centre OF active trading in spite of
amplihcation of the statement of the
companys position that broke its price
the day before. At its lowest II was
about ) points down. but it made up l
good part of this loss before the close.
The whole list opened lower. Prepa-
rations in Washington for the note 20
Germany calling attention TO the fail
ure of that country satisfactorily TO
reply 70 our protest against the sink
ing Of the Lusitania and labor troubles
threatening to interrupt the return OF
industrial activity stimulated selling.
There was little liquidation from ont
side the market in fact. the whole
days dealings seemed TO originate IN
the financial district. Those who sold
short early were soon forced 10 cover
and in the railroads this caused some
advance in the middle Of the morning
Business slackened in the afternoon,
and price movement was slight save IN
a few of the war stocks.
Such word as came to the market
from London during business hours
told of payment of around Sl,5OO,OOO,-
600 on the war loan without undue dis
turbance. 1t had already been made
plain that funds from the banks would
be allowed TO remain on deposit to
lessen the inevitable strain OF such
immense financing. This great amount
has been provided for the British gov
eminent without repetition IN the last
ten days of pressure OF London sell
ing of our securities here, Such as pre-
ceded the initial subscriptions. ray
me0t IN lulI mas dppdItHIII DCVH ~
large that future instruments may be
met without unusual disturbance Of
our securities market.
Discounts in London were nomina. at
the high figures Of the day before, the
money market being occupied with
loan payments to the exclusion OF
other business. Here sterling rates
were shade lower. Exports from this
country last week produced trade
balance of under S7.500,000, the lowest
for the wear. Grain shipments were
light. and cotton has been going out
i'm small volume. If the high rates
for funds in London are to strengthen
sterling exchange they must produce
their effect before the heavy crop
movement of the season begins.
In this city there was an easier ten
dencv in monetary conditions, cal!
loans being made as low as IL per
cent. while time accommodation was
placed on more favorable terms for
the shorter maturities. So far need
of the interior for money to pay har-
vest hands is not being felt here.