New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1915-01-17
FINANCIAL RECORD
HERE AND ABROAD
Low Priced lnduStrials
Still Favored - Bank
Surplus Higher.

Tho Sccuritics market yesterday
showed no distinct movement, nut was
gain characterized by purchasing OF
low priced industrial shares. Az the
opening stocks ruled az about the ieveis
OF FRIDAYS close. Some reaction ioi-
lowed from profit taking on the la'e
pnturn OF the day before but during
the latter part Of the session tne zen
deney was upward again. Bonds con
timed frm and fairly active, with the
bid prices on government oonos UP
from half point 60 point
Missouri Pacific. after losing part o!
me advance Of the day before, closed
only a fraction down. Mexican retro
leum gained points on news that the
British protest against the embargo on
oil shipments from Tamplco has oeeh
successful. Third Avenue was strong,
with renewed thought Of possible dlvl-
dend payment Western Maryland
continued its improvement. Steel was
sluggish and other standard issues
were only fractiOnally changed on the
dav. Rock Island collateral 4S went
higher as time for boudholders taxing
control Of the system drew nearer.
Missouri Pacific bonds were quiet but
steady.
fNEOlIIOlc aN AlAA NHN
showed idle money accumulatng IN
local financial institutions. Reserve IN
vaults and I'm the Regional Bank was
sol 600 GOO greater than the week be
fore. Against this. demand deposits
we're around S2S.0O0.000 higher, with
compsratively small increase Of So
600 900 IN loans. Surplus was enlarged
$4,000. 600 20 nearly Sl36,OOOOOO, close
20 that shown al the start Of the new
Federal Reserve system. such great
amount Of loanablc funds at time OF
quiet IN general trade lnSures ease III
money rates here for some time 70
come. and should make less oirncuit
impending corporation financing. Inc
local Federal Reserve Bank added over
81 600 600 20 its discounts. bringing the
total 10 around three times that OF the
week before.
A gain Of specie amounting TO over
50 900 900 in vaults Of Clearing House
members proves how little is our pres
ent need Of demanding gold from our
debtors IN other countries. Formal an
rouncement from Great Britain that
steps would, If necessary, be taken Dy
bankers to prevent sny unreasonable
movement Of gold shows that no great
import from that country may be
looked for. Government oihclals III
Canada DENY that any OF the gold sent
rom this country for deposit 20 the
Bank of England has been returned,
and explain IL will not come back until
exchange runs as strongly against
Great Britain a. 70 did IN her iavor
when the shipments were made. ri
vste bankers here arc to act as com
merciAl agents OF the British govern
ment and purchase on credit war sup
niles needed, which VIII add 20 OFFSETS
against the foreign money invested
mere.
In London yesterday securities con-
tinued steady, and discount rates were
weak in spite Of payment for slO'VOO'-
600 in French treasury bills. Inc Ger
man war loan, issued A. 91'2, Is re-
rorted 10 have reached par on the Der
lin Boersc.
From Washington 1T was reported
that the bankers cotton relief tund
would receive no applications for loans
made after the first of next month. SO
Tar onlv about $4,000 Of the Sl35,O0O,-
600 available has been asked for. II
NAV be. however. that the trouble ana
expense OF providing facilities now not
needed was worth while. Inquestion-
ably II aided IN preventing adoption OF
preposterous plans Of relief presented
bv Southern Congressman and helped
10 steady the price OF cotton before
the exchanges were reOpened.