The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-08-08
Makes Purchase Of S1O,775,OOO
in Coin and SI,37O.OOO
in Bars.
INDIA RELEASES 81, OOO,OO
Bank Rate to BE B Per Cent. To-
day, Lloyd George An
nOuncps.
Special Cable Dsspdtch 10 Tpr srx.

LONDON. Aug. THE Bank Of Eng.
land purchased to-day American gold
coin to the extent Of f2.1bb 900 (siO,775..
ooo) and fs74,o00 N4.37O, o0o) Of gold
bars. The bank received from the
Argentine 10000 s45o, o0o). from
Brazil f447. 900 a2,235. oOO). and s2so. OOC
Sl1b0, o0O) was withdrawn from France
The Secretary for India released
Il 900, 900 t5. 900, Ooo) gold and a similar
amount in paper reserve.
Chancellor Lloyd George announced
In the House OF Commons that the hank
rate, which rose to 10 per cent. will
he per cent. from tomorrow.
The reopening of the banks found
business plentiful. but there was no
rush Prior to the opening Of the Bank
OF England there were only ten persons
In line. The bank cashed check OF the
correspondent Of THE SuN in gold and
notes as usual
The Stock Exchange il still closed.
but brokers are dealing privately. Com
soils are at 70. The exchange commit
tee notified the members that II hopes,
despite the moratorium, to endeavor to
settle outstanding trades.
In the House OF Commons Winston
Churchill. First Lord Of the Admiralty,
announced that the new arrangements
for the banks were proceeding very salts
factoslly. There seems to he no sign Of
a panic or any commotion anywhere. The
governor " the Bank OF England reported
that there was no pressure anywhere
throughout the country except In Man
chester. where the situation was easy to
cope with. People are paying into the
bank freely. Other banks report that
everything liz working smoothly and there
seems TO be nothing abnormal.
The banks weekly statement Is consid-
cred to be reasurring. The figures show
several records
The note issue stands at f44,4el 900
s222.455. o00). against f26.0ti. 900 $780,
2O5.0QO) gold and fis. $50, 900 t92. 250.-
OOO) In securities. showing that the efilux
OF gold has not been so great as was
feared.
II is worth noting that In the banking
department the reserve IL 9,9s7, 900 fi9.-
$4,000. which IL a decrease OF f1s.s0s.-
900 Cssi.5iQ. Oo0). causing drop in the
ratio 20 liabilities from 40 per cent. last
week to li.6 per cent
Active note circulation II f36 l05 900
tlsO,525, 10000. an increase Of f6,S9o0
E3l.9s5, OO0) coin and bullion, f27.622.-
600 sl3sllOOo0), a decrease OF no.
sos. 900 Cs52, 545,OOO). Deposits and Gov
eminent securities show n slight increase.
while In other securities there is an in
crease OF fls,O44O00 $3.50. 900. 5000. show
ing the extent TO which the bark helped
the market last week.
There was large loan and discount
business nj SO and per cent respec-
lively.
Bar silver II AT Esd. an ounce. an in
crease Of 2i,d. II is believed the Govern
ment IL buying some silver.
Copper is $50 (S300) a ton.
Bankers explained last night that the
purchase Of gold in America probably
means that the Bank Of England has
bought in the open market approximately
sll 100000 shipped from this port on the
Carmania week ago. The Carmania ar
rived In England yesterday. Officials of
the Guaranty Trust Company said that
about So ,000. 900 OF this shipment was se'lt
AT the request OF its London branch. They
believe TINT this gold was intended for