New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1913-08-26
BRIEF NOTES OF FINANCE
Paragraphs Of Current Interest
for the Investor.

Tho financial relations between Canada
- the United States are becoming more
.1oselv identified as a result of the COM
80 into this market Of offerings of Cana
a,o, securities. Formerly financing of
,his character was taken TO Great Brit
ain but the impression abroad that Can
aaa has been overwhelming and the
trained condition of the foreign money
,osrket for the last several months have
tnrned Canadians in this direction, and
some trading has been done as the result.
Reducing the Free List.
A report from Chicago says that rail-
road officials are planning to abolish all
free transportation for employees OF the
railroads. affecting about 10000 regular
~ employed or about 100000 people in
oil ENJOYING favors of this character.
The only free transportation to be al
lowed. il is said. will be TO employees while
I, the performance Of their duties. II is
hard 10 estimate how much this will add
to the earnings of the railroads, but the
amount will be considerable and may be
rezarded as one Of the sources of an in
crease in passenger income which at this
time is not inquired. Naturally. there will
NOT be as much travelling by railroad
employees and their families II such a
nlan becomes effective, but such as is
done afterward will mean dollars and
cents to the railroads.
Difficult to Decide.
The stock market situation is at a de-
hatable point at this time, according TO
THE London Statist," which says:
whether or not the moment has yet
come 10 purchase securities freely is diff
cult 10 decide. The cautious will doubt
less await the period when the demand
upon the money markets for cash is
usually at its maXimum-that is in Octo-
her or early in November. But the vent
uresome may consider that they Will lose
the market If they wait TO determine DELI
uitely whether the squeeze for money IN
the autumn can be avoided. Certainly,
for those persons having resources, the
present moment seems TO offer eXcep-
tioqal opportunities for investment in all
kinds and descriptions OF securities. II is
not improbable that the greatest advance
in stocks will occur in relatively high
class stock. in which investors have abb
soute confidence These stocks always
advance appreciably in price when trade
reacts and capital accumulates This ap-
plies to high class securities OF all coun-
tries and. Of course. include those OF
Great Britain and of the United States
Can Business Stand III
The subject Of savings bank amend
ment 10 the currency bill has resulted In
wide discussion regarding the wisdom Of
such a proposal The Financier," New
York. says that the cruX OF the matter
seems 10 be that such a step, by practi-
cally compelling the reserve banks TO
transfer goodly proportion Of their re-
sources from a liquid TO a non-liquid con-
dition. would have the effect OF with
drawing that much from the legitimate
commercial business of the country.
The president of the Corn Exchange
National Bank Of Philadelphia, Charles
3 Calweu points out that four-hfths Of
the deposits OF country banks, also some
of the city institutions, are being loaned
10 farmers and business men. II is also
stated that there are at least $500 1900
OF deposits in the State of Pennsylvania
alone which can be classed as savings. OF
which less than SOo,000,0OO is deposited IN
the regular savings banks. From such
figures it may be deduced that large
-gregate Of investments would be with
drawn from commercial channels at a
period when the banks will be paying out
500 10000 for their stock in the reserve
association. The question whether bust
ness can stand such an upheaval is the
one now agitating the minds Of competent
authorities.