New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1912-09-30
MONEY OUTLOOK BRIGHT
hank Rate in London Unlikely
TO Go Materially Higher.
# s. AN UNCERTAIN FACTOR
uoned Abroad That This Coun-
try Will Be Able to Finance
Itself This Fall.
tRy cable 70 The Tribune. ]

random. Sept. 29.-Everything con-
-,,ored the stock markets showed an
.,cellent tone last week, not only in
,ordon. but all over the Continent and
:. America as well. The buoyancy in
wou Street and the apparent expecta-
.ton that there will be no stringency
!. the money market, despite the sud-
Am lump IN call money rates, both
attributed largely TO the general eff
,ect as American securities are held
- largely in Europe, and the signs of
orosperity across the Atlantic, with
che general rise of prices in New York,
cannot help but exert a favorable in
suence on the European bourses.
Also. every day that passes without
real trouble breaking out in the Bal
rams relieves anxiety concerning the
stuation there. Sir John French
struck the keynote of the financial
,eeljng when he said yesterday before
ealing for America that it was too cold
tor fghting in that region. Moreover,
paris has seen an excellent recovery
from the effects of two exceedingly bad
seasons. while the gold reserve in the
Rank Of France is higher by S3oOOO.-
900 than 1t was a year ago.
Berlin, too, has successfully passed
;ba quarterly settlement, requiring less
,old than the best judges expected. In
Vienna. also, the liquidation passed on
.ssly, and though there was more
rr,ngency there than in Berlin. ana
though Vienna is nearer the seat OF
the Balkan troubles, yet fairly nope
tul feeling was noted.
Altogether a good feeling exists all
around. with prospects of an excellent
year TO come.
The tone OF the money market con-
,,nues good. and now that the needs or
Berlin have been satisfied there is no
reason to expect any large demands
from any portion Of the Continent
revntian and South American cable
advices are still to come, but they VIII
have been amply discounted.
America continues 10 be the uncer-
tain factor in the money market, and
the purchases Of gold for New YORK In
the open market last week had a TEN
dencv 10 give rise to some pessimism'
hut the position of the American
Treasury is so strong that the nope Is
Mold here that the United States Will
he able 10 finance itself this fall.
The Bank Of England's position con-
tinues very strong. The loss Of 81 foV'-
600 gold through foreign demands mas
heep more than offset by the return OF
G, -o5 coo in coin from the country
while. owing TO the large reduction Oh
deposit liabilities, as against sinail
loss in the reserve, the ratio of the re-
serve 10 liabilities was increased 10
81 80 per cent. While this ratio is not
large for the time of the year, the oanK
is in excellent condition to meet the
internal demands of the country, which
will be considerable in extent from
now to the end Ct the year.
The bank rate remains at per cent
with an increasing hope that it will not
be necessary greatly to increase IT,
Adyices from New York influenced dls-
counts so directly that overnight rates
have Jumped to per cent while week
" fixtures went TO pa per cent. snort
bills are at 3ss. while four and SIX
months paper is at 4 per cent.