New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1915-04-23
FINANCIAL RECORD
HERE and ABROAD
Market Quieter and Weak
at the Close-Sterling
Exchange Lower.

Business on the Stock Exchange yes
terdsy was greatly reduced, but buying
was sufficient 70 absorb offerings with
out any pronounced general break.
Standard issues were weak toward the
close, and ended the day a point or so
lower. The copper stocks for the
greater part of the session maintained
the frmness with which they have re-
sponded to better trade news from the
market for the metal, but in the after
noon they, too, were rather reactionary.
Low priced industrials we're advanced
here and there through the list with
out producing any particular effect on
the general market. Bonds were much
quieter, the total dealings Of a little
over 100000 par value being more
than 100000 less than on the day
before. Convertible issues were promi-
nent, with prices firm.
In the copper group, Utah and IN
SEPARATION maintained good gains until
the close, and Inspiration bonds were
higher. Amalgamated ended the day a
trfe down, and the Guggenheim stocks
lost most of their early improvement.
The price for the metal seemed well
established at IS cents pound, with
predictions Of further advance coming.
Rock Island was again the centre OF
fairly lively trading, and after getting
down to nearly q, recovered more than
point to close y off on the day
These receivership proceedings con-
tinue to make themselves felt as de-
pressing influence, but it must be re.
membered that the market activity Oh
the last few weeks has encouraged
bankers as to the possibility of dispos-
ing securities to the public, and rail-
roads now put into the hands of the
court should not stay there indefinitely
Missouri Pacific after an early de-
cline made up practically all OF lts loss'
but Missouri, Kansas & Texas, common
and preferred, closed a point or so
lower. Denver & Rio Grande Issues
were little changed From California
there has come slight encouragement
for the proposition that the state take
control of Western Pacific, but West
ern Pacific 5s, guaranteed by the Den
yer. were frmer on the curb yesterday
In London American securities iol-
lowed Wednesdays New 1ork inhrheI'
with irregularity and lower prices for
American stocks, but cable advices re-
port speculative holdings Of our Sc
curities in London pretty well liqui-
dated and selling for European &C
count in this city the last few days
has been light Here United States
Steel and the Hartman Pacitics MADE
net losses Of point or more, while
st. Paul, the Hill stocks and Lehignl
Valley also declined. New Haven and
Ontario & Western at their lowest lost
2 points each Of their recent advance.
Foreign exchange rates were weak
demand sterling getting down to below
479. the lowest since the French loan
here was definitely talked Of. Reports
were current that, with the changed
policy of the British Treasury, negotia-
lions for placing British government
securities in this country had been sus-
pended. Cable advices told Of $5,OOO,OOO
In gold being sent here for the &C
count of the Bank of France, which IN
its weekly return reported oss OF
about that amount in its gold. The
Bank Of England added some $500, OOO
10 its bullion, but loans were S6,OOO,OOO
heavier, deposit liabilities increased
and the reserve proportion was little
under that Of the week before.