New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1915-05-21
FINANCIAL RECORD
HERE AND ABROAD
Early Upturn Followed by
Dull Trading-FOreign
Exchange Lower.


the spell Of our negotiations with Ger
many. but yesterdays business was a
little larger than on the day before
and there was a moderate advance 'h
the first hour. AZ that time standsro
issues moved up nearly point ana
eQuipmen, stocks made better gains
Pronounced weakness IN special issues
however. checked any tendency to carry
tho movement further. Trading be
came dul again. and not even the an
rounccncut that the Italian Parliament
had voted authority FOR the Cao!net 10
declare war. received ir the late ai'c'
noon. could Cnllvcn the ue%''' :; ;.
Prices fell back a triHc through INC
dav.Aud al the close active issues
I'D fraction with ic" gains o'
point or more among the spccla'''os'
Nissuri Pacific opened al W. 'lVSo
10 IFS low Of the day before II graz
uallv improved. and when al the DeI4H
ming of the last hour IL was reported
that the Gould estate had consented 20
extend its notes % rapidly advanced
from around llie 30 IL. Only part
Of This ilnnroyomcut was maintained
and the notes due the first OF the
month were offered al g. as on
Wednesday, There is still, II y under
stood. "a large proportion o. the notes
tla: have NOT consented TO the eN-
tension. bu; deposit ls expected TO DC
accelerated boy Yesterday announce
mcut
,of, SPOT u the morning declining
more than . points and making up
ONLY 4 nttlc OF this loss before me
close. Chesapeake and ONO was weak
again. adding points 70 ITS decIihe
Of the day before. The directors we're
'stiu in session considering the owl
dond policy when the market closed
and a. that time the stock was down
not quite point. Later IT. was
learned that it had been deemed wise
10 defer action because Of the present
uncertainty.
The equipment stocks we're fairly
octivc and generally higher, recent
r1aciuc Of the Pennsylvania order iur-
rIshing tangible basis for argument
,lat better domestic business was in
s,,ht. Gains Of point of TWO were
made by Baldwin Locomotive, All
BraSc. American Car and Foundry and
American Locomotive. " Westinghouse
made further recovery and Bethlehem
steel was higher. -.
Local monetary conditions were 1T
lie changed. Time loans on STOCK OK
change collateral were offered at more
favorable rates. but not much adVan =
tace was taken Of the CONCESSION. Can
loans made about . per cent tor the
first time this week, with renewals
sin A. . per cent. Foreign exchange
rate. continued their decline, with the
market much disturbed by lack OF pur-
chascrs. Paris checks again made a
now low record, selling late IN the DAY
at 5.1lit francs for a dollar Ster'nG'
too. was weak, sight drafts on LONDON
getting down close 20 the low Tor inc
year az under 1.lS's.
This remarkable weakness o. eA.
change pcrsistcd in spite OF news OF
onrarcwcut Of S5.OO0.o00 more from
Ottawa and 81 100000 from Japan. Al
rcady this week gold received ana en-
Gagged has amounted 60 SllOOQ.ooo' ana
80 far the exchange here on Farls ana
London has shown 10 sign OF ie-
covcry. Sterling checks in Fars were
advanced again Yesterday
The Bank Of France, in reporting a
'o.s Of over 2l1 600 00 francs showed
the result Of the transfer OF gold TO
the Bank of England. More is eN-
pected 70 follow 10 restore more nor
NAL exchange conditions The central
institution in London lost nearly -
O00. 900 during the week and increased
its loans and deposit liabilities. There
was. however, a decrease IN the re-
serve against notes. and the reserve
propor,Ion was 20i2, only about one.
half Of per cent lower than that OF
tho week before.