Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1914-10-15
FINANCIAL MARKETS
|, EASIER AND PRICES
GO BACK SOMEWHAT
Decline in New York City
Note Issues Reflects a
Bearish Sentiment in Trad
ing Generally.

Various factors made the situation in
New York financial circles less favorable
today, variations in known transactions
being chiefly to lower figures, although
there was no sound reason for this
change. New York city new bond and
note issues we're easier with the three
year bonds yielding to 1O2%d1027s, and
similar recessions of about "a were noted
in the two-year bonds and one-year notes.
IrreEularty prevailed In the short-time
ihaturlties, some issues being easier, but
Pennsylvania 3l5s were stronger, with a
good demand at 97%, and Amalgamated
notes were wanted at 80. There was little
demand, however, for longtime invest
ments and the lesser classes of bonds
were without nearby market through
the varioug Stock Exchange committees.
SHIPPING MORE GOLD.
1t was thought in some quarters that
the easier tone to the city issues was
die to the call for a fourth instalment
of pool syndicate subscriptions amounting
TO sT,67Ss5S. This amount has already been
paid into j. P. Morgan 6 Co.. the syndi-
cate managers. Shipments of gold to
Canada have been in progress as a re-
suit of this payment all day. and 1t is
understood that the total export today
TO Canada will amount to $5000,0 900.
Amalgamated Copper directors met at
noon and declared a dividend for the
quarter of so cents, or two-thirds less
than the regular rate of per cent, which
had been maintained for more than
year. This action naturally followed the
reduction in the Anaconda dividend
month ago from Is cents to 20 cents.
Amalgamated on the New street curb was
In supply around 40, against 49lH at the
close on July 80.
FOREIGN EXCHANGE QUIET.
There was no change today in sterling
exchange. demand holding at 49714 and
cables at 4.9Sh, but there was free sup
ply of Berlin cables, Reichsmarks selling
at 92Ik Other continental exchange, in
Guiding Dutch gui!ders. was at a stand
still, indicating that the bulk of the
weeks large exports to Sweden and
Holland had in reality been for German
account and a charge against Berlin
flnanciers.
There was a further easing of the
monetary situation. The First National
Bank of New York voluntarily reduced
its rate on call money to per cent, and
the first open offers of call money since
the Stock Exchange closed were made
on the board room floor at per cent.
This example is expected to be followed
by other institutions in the wall street
district.
Broad street curb trading was at
standstill and there were no important
changes in prices of the leading curb
stocks .. .-
As g. general rule business here in stocks
and bonds was not very large today. Penn
sylvania convertible 3I3s and Philadel-
phia Electric were those mostly favored.
Sales of the former were made at 977s
and the latter at 21A. The same price
was later bid for Philadelphia Electric.
Philadelphia Traction changed hands at
1915.
The attendance in board rooms was
larger this morning, although II was
nothing like in normal times. The larger
attendance was probably caused by the
opening of the New York and Boston
curbs, investors desiring to get the open
ing quotations. disappointment was ex-
pressed when it was announced that the
New York curb had been Officially"
closed.