New-York tribune., 1915-03-02
FINANCIAL RECORD
HERE AND ABROAD
Allies Move to Stop Ger
man Trade Causes
Slight Decline.

War devolopments over Sunday this
week favored the Allies and stocks
opened higher. Traders covered their
short commitments and early advances
of some proportions were recorded
Later the market became quiet. await
ing announcement of the Allies att-
tUde toward German commerce. When
the cabled news was received that
Premier Asquth had announced in
Parliament the intention of capturing
all goods in transport 20 and from
ports Of the enemy there was some
selling. but prices were only slightly
lowered. At the end of the day net
changes were Of irregular fractions.
The bond market was little more ac-
tive than i. had been in the latter
part OF last week. and prices were
steady in spite of rather heavy sales
for delayed delivery.
New Haven. which has been driven
down from one new minimum to an
other by professional pressure; made
a maximum advance of nearly "a
points on repurchaseS. The success OF
the Boston & Maine in extending It's
notes and favorable progress of legis-
lation needed by the New Haven to
facilitate its financing prompted the
covering. Late IN the day Ontario q
Western improved on light volume
Of business. Canadian Pacific. selling
cN-dividend. was under some pressure
out made up most Of its loss. Penn
sylvauia was rather heavy. Its report
FOR January showed gross income max
ng a proportionatcly smaller decline
from the year preceding than Tor the
three months before, but net earnings
made poorest comparison. with the eN-
coptiou of December. since last sprlng'
Among the industrial shares auto
mobile issues again assumed proml-
uence with a general decline. Central
Leather was rather active and weak
Missouri Pacific was steady, losing
only a fraction or the day IN spite of
tho difficulties confronting its Subsidl-
airy. Denver & Rio Grande, through
Western Paciic's default Of interest
With the arrival Of an American
liner from England came news that she
brought S750,000 in gold, apparently
purchased in the open market IN the
Pritish capital Practically all the gold
ve have received this year from Great
Britain has been sent TO us from Otta-
va. though 100000 was brought IN
G,rect from London for reShipment 20
Cuba and 100000 came across the wa
ter in the middle Of January. In spite
Of low sterling rates here. the ahnor-
molly nigh charges for freight and in
surance ard the longer period OF
transit, with its addition TO the loss Of
interest. make profit on such shipments
comparatively small, but more i'm
ports in this way and through Canada
are expected. The Bank Of England
Yesterday old e124,OOO in gold, which,
according to cable adyices, Is to be
transferred here by way Of Ottawa.
With this import Of gold, sterling
rates were a little frmer yesterday.
Continental exchanges, however, were
lower. light drafts on Rome and Ber-
lin being particularly weak. Local
money rates showed practically no
change from those prevailing at the
end of the week. While local banks
and trust companies have so great an
excess Of loarable funds. the Saturday
bank statement has comparatively
slight effect on the money market. In
London discount rates were steady.
SECURITIES there were firm on favorable
war news.