Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1914-10-02
|DJUSTMENT OF OUR
lOREIGN CREDIT HAS
bETTEr Ed SITUATION
|eturn to Normal Conditions
Nov Near-Trading De-
Anands Still Continue to
Show Improvement.

he financial markets are near the end
the abnormal strain in international
Adit. and this readiustmcnt. possibly
re than any other ono thing. Is doing
n to stimulate greater confidence.
ial shipments of sold TO Canada under
direction Of the national gold pool
klaeers have had a bcncnccnt effect
exchange rotes. and there has come
duction in these in the last few days
'h forecasts an carly return to normal.
i here still continues a fairly active de-
S1d for the best securities of high yield,
investment houses are reporting good
rms as a result Of the circular de-
ptions being sent to individual in.
S tors. The mails are bringing inquiries
M short term notes and customers vis-
g brokerage offices are asking for
Fl ids having early maturities.
stock Exchange committees throughout
.ss country. noting this increased de-
hnd are permitting price rccessions
,4bm those that ruled ut the time Of
;hange closngs. and there is an an
trent desire on the part of those having
#oney to invest to get in on the lower
rotations. The American credit sltua-
ION abroad has been handled in such
successful way that there Is not now
lpparent that dread OF a general for
ign liquidation which was feared not
ong ago. True. there will be some sell
ng by foreign holders soon after the
,ression is that II will not be large
ince those abroad who hold American
ecurities have come to regard them
g among the worlds best investments,
nd are not likely to let them so unless
orced, through circumstances which are
ot now apparent, to take such action.
A BETTER MONEY MARKET.
Although there is no change in rates
better tone exists in the money market
n this city, especially for commercial
aper. Country banks are again in the
market for paper and in some instances
hey are buying as much as they do in |
ormal times.
Another indication that the better feel |
1g prevalent everywhere has penetrated |
D the country institutions is the fact !
hat many country banks have, within |
he last few days, offered to strengthen |
neir reserves with their city correspond |
nts. One large bank in this city has
mis- week received letters from many
ountry banks offering to do this.
This indicates, in the opinion of bank
rs, that the country banks realize they
n not need as much money as they have
their vaults and also that depositors,
articularly farmers. who have, in
nse. been boarding their money be-
luse they did not know what turn con-
t!ons would take, are again putting
'oir money in bank,
s,lrlc choice name commercial paper Is
.ported TO have changed hands here
Iring this week as low as 6la per cent,
1t such transactions are said to have
zen rare. The prevailing rate for COM
erciaI paper is and ~ per cent, with
e bulk of the transactions at the former
cure. The paper that has changed
ands below per cent. has been of short
aturity. Call and time money is stll
per cent.
stock brokers, whose time loans are
Hing due have no trouble in securing
,tensions from their banks. The banks,
most cases, are making extensions on
IL.