New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1915-01-13
FINANCIAL RECORD
HERE AND ABROAD
Securities Close Irregular
and Uncertain After
Some Realizing.

The security market yesterday was
uncertain. with profit taking and some
foreign selling on the recent advance.
There was, however. no pronounced re
action. and az the close active issues
showed irregular fractional changes.
In the early trading prices were fairly
firm. on q good volume OF business, nut
in the afternoon activity diminished
and the market closed dull Bonds
were again dealt in 90 GOOD total nut
convertible issues were rather neaNN
at the end OF the day.
Again Che list Of stocks dealt m was
a broad one. and a number OF the less
active issues seemed rather scarce. adj
vanciuC on small transactions. Amerl-
can Sugar and American Locomotive
were particularly firm. Western Mary
land advanced on small transactions
and Missouri Pacific was lower again.
Bethlehem steel turned reactonary.
OF the more prominent issues United
States steel and New York Central re-
NAMED unchanged. and Reading, Cop
per. Union Pacific and Southern Pa
cifc al the close varied only frac-
lion from the final figures Of the day
before.
Rather heavy purchases Of sterling
exchange bv one Of the large national
hanks caused some advance IN rates.
bu. the recovery did not so far. Tins
buyinc was believed 10 be for remit
tance 20 London Of part OF the pro
cceds Of the Argentine loan placed IN
this country last week. The foreign
exchange market was more active than
Of late. the supply OF cotton bills now
being almost as large as ~ normal
times. From Washington 10 was an
nouyced that the Secretary OF Com
roerce estimated last weeks export eN-
cess al S35.O00.O00. From TINS port
shipments last week amounted 20 So
GOO 900. more than S4.oOO,uuu greater
than i'm 1914 OF this Great Britain
and its possessions took more than So
600 600 and France S4,0Oo.0OO. Foreign
loans. the proceeds 10 be applied TO
purchases here, may be expected TO IN
crease If this export movement IS 10
continue.
Call money here relaxed further yes
terdav. renewals being made az ga peg
cent. the lowest since the reopenlne o.
the exchange. The tendency IN time
accommodation was downward. Nec-
camille paper passed az 80 and per
cont with business slack, as the sup
plv Of the best names continues scarce.
With the steel industry the centre OF so
much interest as the barometer OF trade
revival. an optimistic interview from
the presi lent Of one Of the larger M
dependen' companies attracted much
attention s,e gave il as has opinion
that steady recovery from the present
depression was now 20 be expected.
With foreign orders and domestic de-
mand inc;easeG as industry felt the
bepeft Of last seasons harvest he hg-
ured that .Jeel mill operation tor me
first three months Of the year should
be at from 80 10 65 per cent OF capac-
itv. Som( Of the independent com
panies. it IS understood, are already
on a 60 per cent basis. The local mar
ket for bituminous coal. which has
been dull because Of a lack Of indus
trial demand, reported little better
movement.
The International Harvester Com
many of New Jersey has arranged TO
eTteDd the Sl5.00O.OOO Of . per cent
notes and a bank loan. maturing neNi
month. with S2O.OO0000 issue OF
tbree-vca~ notes at the same rate
Chicago banking interests stand ready
10 take up the notes Of holders VINO az
not desire the exchange.