The Washington herald., 1914-10-07
COMMERCE AND FINANCIAL

New yoFk agaia ana the paymsnt of ths
October Endorsements % Interest enf
diVidands has not niralnod the banking
resources of that city a. much as usual
Heavy experts from the port of New
fork also help by creating . supply q
forelgn exchnnss bllis Il d en- open -
cret that most % theao exports % hns-
land and France rspreesnt goxern'nsn'
purchases or guarantees ana therefore m
volve no risk On collection-
Largs Quantities of msrchandise and
supplies are going out through Canada
and many ahlpmontB do not figure in
outbound mauifegts "for reasons Of
state 20 our exports are undoubtedly
much larger than the ofiiciai trade re-
turns indicate. A German protest tells
Of very large purchases Of contraband
OF war. but the traf1c cannot be stopped
and Il % apparently bringing millions
the week opened with a decided improve
ment IN general trade conditions.
sitaatIaR shows Improvement.
with. the Federal Reserve Act soon to
become effective these are busy days
for the bankerA A great deal Of pro-
gress has been made in solving the pro-
blems produced by the war; but while
conditions have been extricated from
the tangie into which they were thrown
two months ago, there are a great many
ends to be Joined up. 1t is quite evi-
dent. however, that the bankers are
wen pleased with their progress. They
report that conditions are improving
hourly and might possibly be restored
to normal within a short time.
About the. only members Of the bank
ing community who do not take an
optimistic view Of the outlook are those
who say the need Of an immediate In
crease Of railroad rates is the first nee
essity, and that until such relief Is
granted II will be hopeless to look for
permanent Improvement No one can
deny the importance OF that matter,
but there are many who think the prob
ability OF favorable action by the com
mission may be sufficlent to help the
situation. and the country win begin to
discount q favorable outcome
Western Railroad Rates.
The conference to be held in Chicago
today between trafic chiefs of trans
lines and those of eastern
lines relative to an equalization of all
rail freight rates from the Atlantic sea-
board and interior points to the Pacific
Coast and the water and rail-and-water
rates which became effective with the
opening of the Panama Canal, is of
widespread interest ana 1ar-reaching
Importance. The chief object the west
sru roads have in view, 1t is stated, is
to bring about reductions which they
are threatened unless a different con-
Hilton can be established than now pre-
Vails- This Is illustrated by the fact
that the present all-raIl rate on steel |
rails from Pittsburgh to the Pacific |
Coast is sixty-five to eighty cents, |
against that Of forty-six cents rail-and- |
water, plus about one cent for insur- |
ance, etc. Approaching that trafiic is |
pound to follow the line Of least resist
lnce and that this means to them a
Zig loss of business. the transcontinen-
al carriers propose to lower their rates,
'ut desire at the same time that their
.astern connections shall assume, q part
II the decrease.
Railroad August Reports.
The Norfolk ard Western Railway re-
'orts to the Interstate Commerce Com
mission for August: III