New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1915-05-13
FINANCIAL RECORD
HERE AND ABROAD
Market Goes Lower After
Forecasts of Presidents
Note Are Received.

The securities market Yesterday was
swayed by varying prospects Of peace
ful settlement Of our trouble with
Germany. Prices were fractionally
higher az the opening, as overnight
news Of modification OF the submarine
blockade against neutral vessels ap-
peared 10 indicate possible willing
ness Of Germany 10 make further con
cessions This frmnesS was BRIEF, but
after q period Of selling stocks rose
toward noon. Around the beginning OF
the last hour, however, 1t became
known that our message on tho Lust
tania disaster was prepared and would
soon be sent Forecasts Of It's CON
fonts. including demand that the safety
Of American lives on uuarmed mcr-
chant vessels he assured, seemed 20
warrant caution. and the market went
lower
The highest point of the day was
reached IN the afternoon, but the re-
action that followed generally sent
stocks 20 their lowest. and al the close
the list was irrcGularly changed, with
losses Of point or more in few Of
the standard issues. Again, as on
Tuesday. trading around tho middle
Of the day was quiet. There were at
tempts 20 arouse interest in possible
benefits Of war contracts, md United
States steel formed subject for favor
able rumors, hut all this was forgotten
IN the Hral trading.
The bond market was more active
than on the day before. but prices
showed a tendency toward weakness at
the close a good investment demand
is sti,. reported OF the S25,OO0,O0
Try more than four-Afths were placed
In the last three days, in spite Of the
great uncertainty.
Among the stocks United States
Steel, which was very active. was de-
cidedly strong for time, but ended
a shade lower. Union Pacific was also
oH Oh the day, and st. Paul, Atchison
and Southern Pacific closed with losses
on the day. Westinghouse maintained
only fraction of an advance OF over
points Baldwin Locomotive, Beth
lehem steel and New York Air Brake
showed little Of their earlier strength
at the close.
The frmer tendency in the money
market that appeared on Monday was
no longer In evidence. Time loans were
generally made at q quarter Of l per
cent lower, and mercantile paper
passed on terms more favorable to
borrowers. Call loans were renewed
az per cent and were made as low
as II.
The arrival Of the steamer from
Bordeaux bringing a further shipment
OF $4,000 900 In gold direct from France
made 100000 received from that
source since the Bank Of France began
20 place g rr..Icces a. Vie service Of
tho Bank Of England. The effect Of
this import Of gold had already been
discounted in the foreign exchange
market Sterling closed a. about the
same point as on the night before,
while Paris checks were cheaper.
For a while during the day ordinary
market developments Of moment were
noticed with renewal Of interest. The
governments summary Of weather con-
ditions gave further promise Of an eX-
cellent harvest Of winter wheat and
good start for the spring crop. Steel
trade publications announced that as
yet there had been no cancellations Of
orders such as might have been eX-
pected from the troubled international
outlook.