New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1915-05-01
FINANCIAL RECORD
HERE AND ABROAD
International Stocks Halt
on War News-FeveriSh
Rises on Contracts.

Contracts for munitions Of war 50
obsossed the speculative public yestcr-
cay that stocks of equipment com
panies and other concerns supposedly
In position 10 benefit by purchases by
the belhgerent governments advanced
hectically. while standard investment
issues halted and declined on alarm
ing news Of the progress Of hosuhtles
near Channel ports. Such details as
the cable provided during trading
hours were most unsatisfactory. but y
was learned that German feet had
been of the Belgian coast and that
Dunkirk had been shelled.
Earlier in the week there had been
d sconcertjnC reports that Shipping be
tween Great Britain and Holland had
been unaccountably suspended and that
a qeet of over sixty German vessels or
war had been seen in the North Sea.
Following such information yesterday :
admission from Paris that German
ships got by the opposing British feet
contained sufficient portent TO cause
hesitation in our market.
In London trading was restricted by
the news from across the Channel.
Here the market, which had opened
higher under influence Of pronounced
strength in Westinghouse, Pressed
Steel Car, New York Air Brake and
stocks Of similar concerns for which
foreign contracts are supposed 10 ne
pending, was only temporarily affected
when the news came from abroad.
Business in the international list, how
ever, slackened and prices went lower
under lead Of Canadian Pacific.
That the Westinghouse company,
which has for some time been prepar-
ing TO take advantage Of the profitable
business from abroad, had actually OBJ
tanned a large contract was confirmed.
The amount of business taken and
probable profits 20 be obtained formed
matter for excited conjecture. The
stock was even more heavily dealt IN
than on Wednesday, over 100000 shares
changing hands. II crossed par for the
first time, reached 10S, an advance Of
more than q points on the week, and
ended at l06, up points above Thurs
days close.
Other war stocks made extensive
gains. New York Air Brake went over
9 points higher to par and closed with
a net gain Of more than points. Bald
win Locomotive, American Locomotive,
Studebaker, General Electric, National
Lead and Can all made advances Of
considerable proportion. Pressed Steel
Car, which may beneht from neCoua-
tions now under way for a European
car order, was up points or so early,
but lost most of this before the close.
Copper stocks were weak. following a
break in the price Of metal in London,
though here selling agencies main
tanned the 10 cents pound recently
reached. Canadian Pacific showed early
weakness, and lost over points on
the day. Standard railroads were re-
markedly quiet and fell back from a
fraction 10 a point or more.
The foreign exchange market was
quiet. Sterling rates were a trifie
lower, but exchange on Italy recovered
with news that entrance Of that coun-
try into the war would be delayed.
Money for market purposes was avail
able at rates as on the day before,
and from known movements of cur
rency during the week a further gain
of some 100000 by local institutions
was predicted.