New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1915-01-02
LONDON BANKERS
SILENT ON 1915
Few Will Make Predic.
tons as to Coming Mar
ket Developments.
rBy Cabs 70 The Tribune

London, Jan. 1.-America's note Of
protest against search Of cargoes has
overshadowed all other questions dis
cussed In financial circles here to-day.
Financiers refused to express predie-
tions for the New Year Even before
this disturbing element arose there
were few, if apy, who would even make
guesses as 10 developments in the
financial world in the near future.
In an interview to-day with The
Tribune representative well known
American banker here said:
mo man in the financial world wants
to take the responsibility Of making
representation for 1915. Only ces-
sation Of the great war would have the
effect of bringing back normal condi-
lions. There Is belief among some
financiers that an economic factor may
yet arise which will call halt to this
war at much earlier date than now
seems probable"
Because it is hedged about with so
many restrictions. the opening of the
London Stock Exchange on Monday will
have little effect on American securi-
ties, this banker thought, and it is
doubtful if much difference will be
made in the situation here. He added:
"The exchange really might IS well
remain closed, many brokers here think.
The restrictive measures are laid down
by the government 70 prevent, among
other things, transactions by the en-
emies"
Speaking of the status Of American
securities held here, the banker said
there was no attempt TO unload in
America. On the contrary, when the
New York Stock Exchange opened there
was even some stimulation given TO
American investments. but that was
only a flash in the pan. Since then
matters had been at a standstlll.
Referring 10 the American note OF
protest, the tinancier said: 81 do not
believe this will, as yet. be any great
disturbing feature. In the event OF an
early adjustment there is bound to fol-
low a better tone in American securi-
prolonged there may be considerable
unfolding in New York BY British
holders of those securities
Il ia the opinion of a member OF a
large London brokerage house which
deals extensively in American securi-
ties that if any country would pront
by the European conflict 1t would be
the United States, and it therefore
Of investors here holding such securi-
ties if they disposed OF them at the
present time.
Confidence was expressed in favor
able solution of the question raised by
the American protest. Speaking about
American investments, il was said:
1--WE have advised retention OF these
securities. but 10 is hardly necessary 10
do 80, for it is realized by British IN
vestors that the United States stands
to win in this European conflict, and
when normal conditions prevail again
there will be no form Of investment
more likely to be advantageously held
than those in the United States"
10 was added by this banker that
while there has been little acquisition
of Americans in late months this is
not because OF apprehension dS " INC
worth. but is due entirely to retrench-
ment and TO investment in government
securities. In brief, while the Brit
isher has hesitated to reach out for
more American securities he has held
on tightly to those already acquired.
When asked what was the general
outlook for the New Year this banker
said there was little hope for any SUD
den change for the better at the pres,
ent stage of the war, and added ina
il would require more than one or wv
big victories to give anything e@ceP'
a temporary stimulation. CAL
Regarding the opening OF tne 49,
Exchange, il is felt there wiz oe
great change in financial eopui''0"S'
in view of the restrictions