New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1915-03-05
FINANCIAL RECORD
HERE and ABROAD
Dull Trading, Weakness at
ClOSe-MOre Gold Com
ing from Japan.

Securities yesterday failed TO con-
Around the opening prices were fairly
firm, but the advance was not great,
price sagged as trading slackened later
and in the last hour the market became
weak. In many active issues closing
prices were at or near the lowest, with
fractional losses fairly general Low
priced stocks were rather active and
pool operations in the industrial list
continued. Bonds did not change hands
on quite so large a scale as on the day
before, but total of over $2,500,0O0 par
value was dealt in at steady prices.
So far as individus, changes went
Steel ended the day shade lawer,
Reading lost nearly point and Copper
and Union Pacific each made declines
of substantial fractions. Third Avenue
turned reactionary, but automobile
shares were again conspicuously firm.
New Haven and Ontario & Western
were fractionally lower at the close
and Northern Pacific declined point.
In London American securities were
little more active and in the rest of
the market a fairly good business was
done through reinvestment of divi-
dends. Discount rates showed a ten.
dency to harden following publication
of a drop in the proportion OF the Bank
of England's reserve from over 30 per
cent TO less than 25&. Deposit liza
bilities increased over el0,000000
: h., bo
eminent. and loans TO the market in
creased $4,000 200. while gold holdings
fell off over s3.S00,000. This loss of
bullion was accounted for by sales for
exports to this country, setting aside
of 81 900, 900 for Treasury note redemp-
ton and special accounts for purchases
made in Egypt, the Argentine and else
where.
This poor return Of the Bank OF
England renewed talk here of formal
arrangements to protect Great Britain
gold in addition to bankers credits IN |
this market. Sterling exchange here
was little higher at the close Of bust |
ness Yesterday. demand sterling selling .
at over 4S1 in the pound. Commercial /
bills were less freely offered, IN part /
because of the unsettled state OF marine
insurance, with Great Britain still fail
ing TO make clear the exact nature OF
the steps to be taken against Ger
many's foreign trade. 800
Monetary conditions here showed lit
tie change from the day preceding. /
Call loans again renewed at per cent /
and were made from that figure down
TO ~. Time accommodation was quiet .
with rates not quotably changed. 10 /
facilitate foreign purchases here ST.
100000 in gold coin has been engaged .
for import in Yokohama in addition TO .
81 100000 taken on Saturday. Switzer- |
land. it Is understood, will soon place .
a loan of around S15,0O0,OOO in this !
market to run from one TO three years
Opening of argument for an increase
in interstate freight rates by Western |
railroads did not excite great interest
in this city. In this case no such broad
question as that Of preserving railroad
credit, raised by Eastern lines, is IN
volved. In the period of active busl,
ness that eliminated about year and
q half ago heavy movements OF gross
resulted in competitive re-
duction of rates until levels were
reached that are Improbable now busl-
ness has fallen off. The reads are try
ing TO get these tariffs back to where
traffic now carried will produce an ade-
quate return.