New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1915-08-29
MARKET NEWS
AND COMMENT
Weekend Profit Taking
Hats Rise - Selling
Well Absorbed.
MORE GOLD COMES
ACROSS THE WATER
Sterling Checks at New Low of
4.6212-Bank Surplus Now
Over $204,000,000.

Though overnight news. IN natural
reaction from enthusiasm of recent
DAYS. suggested possibility that con-
ditions might be attached to Ger
many's submission to our demands for
modification Of her submarine block
ade. the market gave the German
crisis little attention. such profit TAX
ing before the break i'm trading over
tire week end as had not been COM
pleted on the day before was .bsorbed
without causing any important weak
ness. In the first hour prices were
steady. and though they worked lit
lie lower before the close. net changes
we're irregular. not generally lower
or particularly significant.
The list broadened as the session
went or until It included an unusually
large number OF issues for Satur-
day. Outside buying. while reduced
IN volume. was well distributed. The
war stocks were continued in the
quieter fashion of the day before,
though a few new favOrItes were
brought into some prominence. Pitts
hurgh Coal was unusually active
again. The preferred closed with an
advance Of more than points, but
.he common held only one point of
ITS improvement. The agricultural is
sues we're firm, but the cOpperS made
small gains. Tennessee Copper was
rcacrionary again few of the rail-
g.
land advancing just before the close.
Rock Island was weak. United States
Steel, as on Friday. got up to u, but
fell back again 20 close shade lower
on the day.
Another large shipment Of gold sent
across the water TO Canada was, It be-
came known. on its way to this city.
Like the Sl9.00O,O00 or so received
TWO months before this was estimated
here al between SlS,000,00O and So
100000. In foreign exchange circles
such large resumption OF gold imports
had been looked for even before the
Bank Of France announced Its release
Of 200 900. 900 francs. There was Int
tie or no buying of sterling yesterday,
and sight drafts on London broke to
462iz in the pound, more than "A
cents under the normal par Of OK
change. Exports, though still far be
low totals expected for few weeks
from now, continue heavy In the last
week from this port alone daily totals
show that goods valued at over $685.
100000 were shipped abroad.
Without direct receipt OF -clgn
cold here other than That received
through san Francisco from AUstraI a,
Clearing House institutions at the
Cpening OF business yesterday held
surplus of over S204, 100000, the great
est in their history. During the week,
though loans expanded more than So
100000 and demand deposits over &c.
O0C 900, the excess OF reserve above
requirements increased more IMAM
Sl2OOO.JOO. August is nearly at an
end. but from the Interior currency
still flows TO this centre.
With an this accumulation OF Idle
money. the investment business con-
tinues az low ebb. Bonds on the
Stock Exchange and over the counter
moved last week in smaller quantity.
There was some increase IN sales Tor
lie delivery for foreign account
bonds that had been purchased
abroad by dealers were offered.
individual investors did little, though
here and there there was said 10 be
good buying by institutions. Invest
ment houses, however, inquire that IN
spite Of uncertainty over interest
Yields due 10 Europe's immense Dor
Iowings for war purposes, the present
strength Of stocks must sooner or
later mean more buying Of bonds.