Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1914-09-15
INVESTORS IN SHOW A
DESIRE TO RELIEVE
|. FINANCIAL TENSION
Encouraged by the Better
Feeling Everywhere APP
parent, They Display Con-
6dence by More Active
Trading-Prices Higher.

Reported successes Of the allies IN Eu-
ons are having a good effect on the Lon
sor situation, and the better ieelihs
4~..,oh 10 apparent In financial circles In
,,o,ronolIs is being reflected here to
o,,ed degree. The advance in Eng
,,sb consols today, the almost sensational
ano,lne in grain prices in this country, the
rsnewpd confidence of foreign investors
y, t,,o stability of American securities
III % roore active trading and consequent
sinher nrices in Wall street and on the
Mew YORK Curb-all contribute to the
ito,ter feeling which Is apparent In near
~. iii financial centres and to renewal
/ y, confidence In the ability OF American
nciers to successfully cope with the
1nnnoyalleled situation that has for more
.bsn month enveloped the financial
+. markets of the world.
London apparently displays tar greater
strength and courage than new YORK,
.ns ,rouiries from London were received
! here for the new g per cent ne" ork iork
a,tv notes. European investors know
,hs, hiCh-class American securities are
,afer than their own, and many con-
E lend that foreign liquidation would not
4 no heavy If the New York Stock EX-
change reopened next month
An Indication of the altitude of invest
ors is shown in tho fact that there were
more buyng orders in the local market
,bIs afternoon than there has been for
i a long time. From abroad came requests
: for several types of American securities,
4 Notably Standard Oil, Union Pacific and
: Southern Pacific. London brokers made
: the inquiries.
4 Pennsylvania sold for So: United States
steel was quoted around 4S. and an order
!. for 100 shares at 80 could not be filed.
1 There we're actual sales of Union Trac-
4 Hon at i0 United Gas Improvement at
5N Reading at 10. Cambria Steel at i2ia
4 Several Philadelphia municipal bonds
4 changed hands at 1915 and 102.
In the unlisted securities the special
committee supervising the transfers spoke
5encouragingly of the outlook, and ad-
mitted that demand for bonds and stocks
of this class is more general than they
had expected.
A better market exists in this city to-
day than at any time since the stock
Exchange closed. Committees which have
been supervising Investment transfers in
both the listed and unlisted securities eX-
press much satisfaction with the turn of
affairs There has developed a better dis
position to trade on the part of investors,
and many brokers have been able to
materially reduce the amount of their
outstanding loans, much to the gratitica-
ton of the banks. The latter have given
the traders every aid possible in the last
/ few weeks, and there is no record of any
large loans having been called.
1t is generally admitted that the first
necessity for a safe and sound market
when the Stock Exchange shall finally
open must be a return of confidence of
investors in the securities traded in. There
Is but one way in which this confidence
can be encouraged. namely, by the alb
sence Of unnecessary antagOnism by offi-
Gals politicians and others and by the
removal Of r,.tiictions that have in the
past prevented corporations from con-
ducting sufficiently profitable business
to rendtr .l"ir securities attractive TO the
savings "i the people.
Railroads need higher revenues to make
their securities thus attractive as repre-
senting successful business enterprises. II
the transportation companies are placed
In position in which they can obtain
new capital on workable terms it will not
take long for extensions and betterments
10 be reflected by increased orders in the
IRON and steel industry. In turn activity
viii be promptly communicated to the
other industries.