Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1914-09-21
BOND TRADING is
RESUMED HERE ON
MORE ACTIVE BASIS
Supervising g
Sales Lift Bars and Decide
to Permit Statesmen to Go
After New Business.

49,. meek since the, outbreak Of hos
,u,,iss in Europe has opened under more
f.,orsbIe conditions than the present
The thing OF most import locally
a, the announcement today of the
committee on Unlisted Securities that
,..dinq would be allowed by Philadel-
uhia houses, under less rigid rules than
,.vs been in effect heretofore. Brokers
- ,pvestment bankers are now per-
,,,i,tsd TO send out statesmen and to So
,,.,t business by telephone, but the
,.,,.sc,ions must be made with the
o,nroyal OF the committee. Similar
.,1,rgs with regard to bond trading by
r,,ubers of the Philadelphia Stock Ex-
change we're announced today by the
e,eclsl Committee of Five. The only
adherence Is that the transaction must
bo handled through the Stock Exchange
.ommittee instead of the Committee on
Unlisted Securities.
The official announcement of the COM
mittee reads:
"on and after Monday, September 81.
1914 and until further notice, Philadel-
mia houses dealing in securities may
solicit business by statesmen. or by tele-
nbone. under the following conditions
y '"All unlisted securities before being Of
Jared must be submitted In writing, to the
,ommittee on Unlisted Securities, who
will place minimum prices at which sales
will be approved. Dealers may offer only
securities which they actually own. and
then. only at prices not less than the
minimum prices fixed by the committee.
Each and every sale contaminated, must
be promptly reported to the Committee.
"No circulars or lists of offerings shall
no mailed by any dealers until further
notice, except at the request of GUS
toners.
"All transactions must be made for
cash. and no trade based on exchange of
securities will be sanctioned.
I'VE wish TO emphasize the fact that
onerings made must be of securities
actually owned by the dealers making
the offerings.
"All buying or selling orders in securi-
ties not actually owned must be submit
lied to the committee. II the committee
have buying or selling orders in securi-
ties so submitted. they will try to COM
plete the transaction"
Another favorable indication of uhe
better feeling apparent in financial circles
Stock Exchange had today resumed trad
ing brokers being permitted to make sales
At prices as OF July g. when the stock
exchange officially closed. special
Committee of Five will supervise all
transactions. 1t was announced also that
the Stock Exchanges at Sydney and
Adelaide Australia, had reopened this
morning.
Baltimore brokers expressed general
satisfaction after a tryout today of the
plan for limited trading in stocks and
bonds
Orders to buy and sell, nled with the
Committee of Five of the Stock Ex-
change, which Is required to pass on
such transactions. were about equal.
and absence of large offerings strength
ems the belief in some quarters that the
exchange can go step farther and
permit unrestricted sales of unlisted
bonds, owned by dealers, without
danger.
Reports from London indicate n bet
ter general feeling, with a greater de-
sire on the part of investors to get into
the market. Passing of dividends OF
some Of the important industrial COM
panles has restricted somewhat the
general volume of trading; but the gem
eral effect has not been in any way
depressing. Foreign exchange rates
normal is expected to follow the work
ing out OF plans for the organization
Of the new $l0O,OOO.OOO gold pool, to
which the Federal Reserve Board has
given its sanction.
II is announced that the German war
loan has been oversubscribed by about
No'Vn,WD. Because OF the success of
ms loan final terms OF payment have
peen postponed until December
transactions in the trading groups in
New York were small in volume through
out the day and the changes were mod
erately regular Brooklyn Rapid Tran
tlt was most prominent feature, being
IN good demand for fairly large amounts
At about the closing price on July 80
ana there were inquiries for Central
Leather at slight recessions. The COP
pers were comparatively in free supply
win those issues offered by some at
Soout the lowest prices so far reported.
ssles IN Philadelphia today included:
iehlsh Valley 6lB Northern Central.
new new stock at 50. Sales of Anglo American
VII m IN New York We're made at 1885,.
rhlladelphia Company common stock
vas offered at 81 today, unchanged from
ihe last sale, There are orders both ways |
VI united Gas Improvement at So