Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1914-09-18
|ST0CK TRADING is
LARGER BECAUSE OF
|. BETTER WAR NEWS
.Oorted Victories for Al
/, Influence More In
o,,;riies-Foreign NJ a r k e t
Situation Vastly Improved.
Confer on Gold Pool.

rSspks to an Improvement in the Bu-
nor situation, due largely TO the
IOps1 yictories OF the allies. each day
Fl 5fepC,os an easing up of conditions in
N',,oioI markets with buyers show
more noticeable desire to get into
,roaine There is a broader dis
.nion to buy stocks. This is apparent
~ Increasing number of daily sales
u ~, market here and in New YORK.
f " ,apies that last week could tind no
',lss because of an Indifferent demand
row being bid higher. Quotations
,u,oin a stability which is surprising to
.,,,ont brokers' and the situation. on
.o,o is considered in general good
Sshape. ,,.,,,,, Of Neu York city's
so debt influenced in q large meas
n sS. martial collapse of foreign eX-
rrices for which are now at
~, iorost level since the war began.
4, reason to believe that within
royt few days the exchange market
vi assume fairly normal proportions
ordon news Is more optimistic and the
.,Droyement there has been one OF the
~, notable features of the whole finan-
ii sItuation. There still continues tn l
|, reonening the Stock Exchange therc,
"A "A conferences are daily under way be-
Econ English bankers and brokers and
H. Cuyernment representatives looking to
.ne early action along this line in view
4, recent French and English successes
\, fhe European battlefield. French
8ssasury bills are being offered in London
IL ,,l tn1
3s have been taken freely at this figure.
4 ,bnther evidence of the improvement
sroad is shown in the weekly return
F 4 the Bank of England, which has just
#hsn issued, and which gives the proper
Fan of reserve to liability at 2l.lS per
&,nt This represents gain of per
snt AS compared with the reserve as it
H,,nod at the outbreak of the war, and
IL increase of about lia per cent over
Ihs, week The institution has added
Int&O02 TO its reserve during the week,
nd $50 900 to its bullion holdings. while
Insre has been a big contraction in
hans, other securities showing a decrease
q n SIS 100000 There is n net falling off in
Iisposts of S7.COO.0O0 A decrease in cir
4niation is noted of s2995. 600 This finds
EXCLAMATION in the contraction in trade
,rd restricted expenditures in different
directions,
There was good attendance of
llrokers in the London financial district
Inday but trading in securities was not
|,risk. Gilt-edged investment issues were
3s,sless as brokers are not willing t.
lake risk of advising clients because of
ilyed prices Australian mining issues
hardened on the announcement that the
iiydney and ADELAIDE Stock Exchanges
+ would be reopened on Monday and that
4he exchange AT Melbourne would resume
business shortly.
An issue of s2,OOo,Ooo sterling Sac
& Paolo Brazil, notes matured today.
4 METROPOLITAN Water Board bills to tho
Isneuntis of Cl,OOO,OO0 were paid for.
3Cahioans we're plentiful at liz per cent.
aThree months bills were per cent. An
isse Of G2no00 Indian Government bills
will Ne offered next Wednesday.
1 AnmHetinG will be held in Washington
ciap between bankers and a special
committee. appointed by the Federal Re-
erye Board, to report on the advsability
ti forming a $3.50 600, 900 gold pool to re-
9lere the foreign exchange situation, The
j General belief prevails that only a small
aimount of this sum will be actually
leeded, bur the fact that it is proposed
70 make such A large sum available is
Expected to aid materially in the further
reduction Of foreign exchange rates.
An announcement from New York to-
.day said that there has been a very gR
.sral demand for the unallotted portion of
|ihe NOO,gp)000 New York City six per
cent, corporate stock and two and three
year revenue bonds, and that the loan
.Sould undoubtedly be oversubscribed.
Corporation and individual investors
.re taking extensive accounts of the
Nn eYftv -
~ the syndicate managers as to the
'lmount OF applications. but It was made
.nown that subscriptions were coming in
tspdly from all parts of the country
,nd also from abroad. One New York
Fo'poration subscribed for 100000 and
'lhother for 5000 roo. At the same time
II great many letters and kilograms wore
|sceVed al the offices of ]. p. Morgan
Il Co., and Kuhn, Loeb & Co., where
descriptions we're taken. bidding for
.cnds in amounts ranging all the way
|"om $40 m to MANY thousands
number of the New York institutions
Fave signifed their desire 10 withdraw the
per cent of their subscription for their
wa account, to which they are entitled
accordance with the terms of the
.sNement The agreement stipulated
lal mot more than one-half of any sub
ENpuon could he withdrawn. This was
oHe IN order that the syndicate man
|gers might have available for public
laerings at least 100000 of the $780,
300 city securities.
.ne ponds and notes, as offered on a
sent basis, are particularly attractive
~. we large number of investors. cor
suons' and individuals who are seek
IN, safe temporary employment for
Ss Isr money pending the resumption of