New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-10-10
FINANCIAL RECORD
here and ABROAD
Currency Gain from the
V '%n,erior--Prices of City
Notes Improve.

:, appears from known move
M :, currency between this centre
n',s - interior that local financial in
'ra ~ have gained moro than
'p' ~ to make UP for the loss through
'noss 'h;,uents to ottawa. The indi-
s' ~, "a ssin from the interior this week
"". IND slA,OOO.OOC, a most unusual ,
& sNu"N; the crop moving period
sfsS'hf a,,ergency currency, however
lsss % less. as present needs seem
vFeNnfsd To-day's Clearing House
vi sup a, viii show the loan item at
ssie,s'br, current corporate financing
'S's' Nv sales Of city notes ny SUP
s w institutions. Demand 1oI
ST'" SSIeations continues strong, ana
'ssss S The bid price for the three
yss'elvs.sss wss 1903. only fraction be-
Y''i ~, IN hest offered before the banks
~ '" free 10 dispose of their aliot'
rstts- ,;,~,orts for the week were
Nae. ~ record volume Of the lweeE
vieeI nv, the total Of more 'than
Nis'oa o bushels was around 2,OOO,0VO
WV. r. last year, and corn exports
we y s..s $4,000 bushels were also ex-
q i...;Sopslly hesvy. Grain movement as
esg's Us acted slowly in cutting down
y" a" ,rIus Of idle freight cars. The
'ss s-sfted equipment on the first or
s',.o'~"rth. though decreased some 1900
ne ,as sortnight. stood at $4,000, as
. ;u only 10000 last year at that
lTS =, ;s understood so be the begin.
W.T. general movement toward
iias commodity rates by roads west
"a, Mississippi River was seen IN an
" 'A W. of 10 cents a ton IN coal tar
~ flsd BY the Southwestern railroads
IA ~ ne Interstate Commerce Commls-
s,n II lines in the Central Freight As
W. a.:..;o, territory have filed new
sXsSsIes making the 5 per cent IN
- - Granted BY the commission IN
s. Ss,;s,on on the case of the Eastern
~. The Baltimore & Ohio has de
- - IN simplify its financing through
-, iis stockholders 10 approve
,sfnndins mortgage for $500, OOO,>
"a, Tbis. il is explained, viii make II
~, 20 avoid note issues and 10 sell
~ Inis Of bonds when necessary.
TSs Southern Railway declared q de-
a-,sS dividend on the preferred OF :
~, cen. instead Of 2is, payable IN
scrip ,,.. e Al.
IN checked security trading. Dis
,,r,,;rs was only moderate, though
ne ;eint stock banks were reported as
lag hills rather freely. Higher
rsirs for capital was indicated by n
,s,oy.eJ New South Wales loan OF
Il WNOO0 for year a. So per cent
p.-e sterling rates were trif'e iirmer,
WITH The gold pool managers selling
little exchange
LEGISLATORS in Washington from the
cotton belt, in spite Of opposition by
,be administration, were reported as
insisting on a bill requiring a federal
Ss,osit Of s250,000,Oo0 in states grow
irs cotton or tobacco, 10 be loaned TO
rro1uee-s at not over 4 per cent. s.
Ions fnanciers appeared in the ma
to,al capital 10 urge their plan for a
rational cotton pOOl. To this they ex-
ret New York 10 subscribe S5O,OOO,OOO,
one hundred cities in all to make the
AMOUNT up TO $15O,0OO,O00. Banks here
viii doubtless DO their share toward
snsneing the South ii its time OF need,
bvt tier prefer to land their money as
nstter Of business rather than to tie
II up il speculative corner that they
realize frnm he start is unsound.
This is not the first time that failure
Of market for staple crop has caused
great hardship. Corn has been burned
10, fuel before now because II could
ra be sold One difficulty with such
f,rastic plans for relief is that they
tend 10 prevent the holder from selling
nn enough Of his crop to pay his
most pressing debts and hinder con-
unptiOn, when =, should be most en-
tsgnged.