New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-12-06
FINANCIAL RECORD
HERE And ABROAD
Security Prices Improve
nemand Sterling Off
Bank Surplus Lower.

-. wsek ended with distinct hrm-
my ho,ds on the floor and IN stocks
ness !" clearing House Of the exchange.
o.:a,er business at the week end IN no
sseeted the level az which transac-
N ~ we're being made, and undls-
uO,5hsS and probably enlarged seeur-
~ dealings are expected 10 continue.
~ a.syv conditions. as usual on a
a ie...S"y were practically unchanged
Ss" iosning rates, but in the foreign
ioi &c. no.. market sterling and francs
eAs.'il cwer. A decline Of 4 of cent
49, the price of sterling checks 10
~s-s| ~ cents below the final hgure
y ne Saturday before.
Tts number Of different issues trad
- In the bond dealing was small,
e. Jew new obligations were added
:. he list. In general, fractional ad-
Noes we're made on the day. Eoek
,J.,8 issues continued their specula-
80, advance, which was particularly
w - in case Of the collateral as Of
.la ysilroad company. Practically all
- NOR active stocks showed some
. ~ with good gains by
.--,nseontinental railroads.
A. result Of frequent conferences
,,,rsen representatives Of the banks
~ the stock Exchange, II is believed
-, nreparatious are nearly complete
!, adding business in stocks now be-
=, traded in through the Clearing
gs s 10 that done openly in bonds.
Tbs present method Is proving slow
nd unsatisfactory, now that transae-
Gsrs are made in increasing volume
N the change will be welcomed. The
~ssk's dealings in bonds have indicat-
u mat whatever may be expected from
r,ronesn holders Of our securities
,s,y are not going 10 throw them onto
AM market without regard to prices
they may bring.
The various committees that super
vised dealings in securities from the
TINE war broke out have gathered con-
eSsrsble information as TO buying and
.,lline orders, originating on this side
a the water and aboard, that has been
raj al the disposal OF Stock Exchange
srthorities. In addition, conferences
With International houses here have IN
sured that when business is begun we
nav feel certain that the time will be
cpportune and that all due precautions
have been taken.
Funds for financing any reasonable
amount Of business are available. Be-
fore the week closed call money was
offered as low as 3ls per cent, and yes
terdsy's statement of the actual condi-
ton Of Clearing House members al
the end Of business on Friday showed
reserve Of more than S119.000,000 IN
excess Of the new legal requirements.
Clearing House loan certificates have
nov been ali cancelled, and publication
Of the full report was resumed. This
included the detailed statement Of
average condition of individual mem
hers and summary Of actual figures at
the close Of business Friday. To the
general statement of reserves was
added the amount Of specie held in
vaults, a necessary item which had
been lacking the last two weeks.
Loans were expanded S22,0OO.OOO,
bringing about an increase Of Sl5,OOO,-
600 In deposit liabilities. Accordingly,
With reserve in members vaults and IN
he local regional bank reduced near
" $1,000 600, surplus was reduced
nearly S12.OO0.OOO. Local institutions,
IN addition TO furnishing market &C
eonnodation. were called on for some
corporate financing, and both these de-
usnds should be expected to increase
n the next few weeks. Circulation of
Clearing House members was con
irseied 10 the extent of about $1,000
800. though during the week some S2S,-
100000 in emergency currency was re-
tired here for local and out OF town
banks
In London discounts we're under 3
per cent. while day TO day money was
loaned at q TO l per cent. Charges OF
from 10 9 per cent will be made for
carrying over accounts 70 the next
settlement. The Russian Treasury
has agreed to ship 100000 TO the
Bank Of England. which viii discount
Under guarantee Of the British govern
msnt Sl2,000.OOO IN Russian treasury
Bills. From the proceeds of this loan
Russia will be able 10 pay for war
orders placed IN this country.