Show FINANCIAL STRAIN IS STill INTENSE Both Germany and France Seeking ng Gold to Strengthen Their TheirS War Chests y Now Xe York May 10 New Now e York in I common with all aU world markets felt tho the benefit of the smoothing of ot difficulties i In the tho wa way of ot European Europ peace by Montenegro's submission of ot S to the disposal nl of ot the tho powers but that this particular step was wag not considered conclusive o was as shown b by the moderate modera te effect produced on markets and b bj by the time renewed hesitation later Other 8 symptoms proved that the tho financial strain whether duo due to tho the political position and preparations for Increased armaments or to credit In In- In nation In was was' unrelieved Engagements Eng ments of ot gold In Inc New c York for shipment to Paris wore made to tho tim amount of The Bank of ot Frances Franco's holding tIe despite New ew ew Yorks York's shipments earlier In the year ear still sun re remain remain remain re- re main lower titan than in lii January Januar French rentes lentes have also fallen lower lowel thun than since Mince 1859 The coming Issue of a largo government fo loan I Is the tho depressing depress depress- ing InS Influence Flotation of or a BrazilIan Brazilian Brazil Brazil- Ian loan In London Involves withdrawals withdrawals with with- from that market and Berlin BerHn is engaged with further preparations preparation for the tIme addition to the time war ar chel chest l. l I With ith ith accumulation of gold thus promised b by tho the central banking In Institutions Institutions In- In abroad little prospect pro is offered of ot a u return to New York of at gold oltI sent from here These Indications of ot restricted money supplies in the future arc are little calculated calculated calculated cal cal- to relieve the prostration of Investment demand for tor now security Issues which Is keeping up with Ith the tIme difficulty for railroads ds and corporations of procuring needed capital capita Thus ur urgent ent necessity also spurred on the railroads to secure Increased trel freight ht rates rutes which assumed definite form forte during the thc week Besides tho time adjustment adjustment adjust adjust- ment meet of ot prices to the basis of in increased increased In- In creased Investment returns various stocks are arc affected by b tho the question ral raised cd of ability to maintain dividends ends even at nt present rates Relations of government g to business were kept In view by the explanation given for closing down of textile mills and for tor somo some Industrial dividend re re- re This explanation was the uncertain conditions under prospective e tariff changes The trouble under the dissolution plan of ot tho the Union Pacific were dl discouraging as a were tho the In Intention Intention intention in- in of measures directed against the tho New Now haven Ihl system an and the department department depart depart- ment meet of justice to take tako further stops under the antitrust low law against certain certain I tam tain coal ro roads ds A decrease In specifications specifications to a 3 rate considerably below shipments was reported following the entry Into force of or hl higher her contract prices s. s 4 A falling oft off In the United States Ste Steel l corporations corporation's tonnage e disclosed d dIn In the time monthly statement had been ben generally foreseen although the time shrinkage was unexpectedly large 6 Coppers Wore vere helped b by the lie April decrease decrease de de- de- de crease in stO stocks stock of oi the metal The TIme governments government's estimate of or a I bumper winter wheat crop Is i supplemented supple supple- I by reports of or a forward ward condition condition con con- litton of planting of or spring wheat arid antI favorable weather eather conditions for tor all crops This Is expected to prompt a liquidation of grain holdings which would relieve tho the heavy loan ex expansion ox- ox of western banks 1 |