New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-10-17
FINANCIAL RECORD
HERE And ABROAD
Visit of British Treasury
Officials May Bring
Much Benefit.

Mach is expected from the visit Of
=. pr,tish Treasury officials who are to
w Ger with our federal authorities and
Svs..hI;sh a better understanding with
~ eountry's fnanciers and those OF
r-s,snA Among possible benefits
$3.50 for as the result of this exchange
syyks-st hand information as TO financial
o.S,aons are a freer movement OF our
...san abroad. with q consequent I'M
ssvsst,a,ent In sterling exchange and a
pa rtopening Of the securities mar
20 xsre aud in London. The British
N.,sS. expects that some arrangement
eli haVA been perfected for opening
~. Stsek Exchange there, probably
.tsough government guarantee OF a
-.;on of loans on securities, before
y ,,oratorium is ended on November
% A. 90 our fear Of overwhelming
~;4s.inn in our securities from
49, tho British Treasury's adviser
80 Is as his opinion from his knowl-
r. ~ conditions on the other side
-, there was no reason TO expect that
.t selling would be heavy. Now that
- heCirninCs Of r real money market
lsre prove that our domestic dlhcuIues
ere being gradually overcome, such re-
assurance is most important
csu money was again offered by the
- "a borrowers other than their
20. customers at Z per cent yesterday
va !, some exceptional cases as low as
80, cent was reported, and some new
~, rorfhs' money was put out at Z
w .en+ Reportcd movements Of cur
w indicate further large gain by
s.sreisl institutions here. Against
~ exports of less than Ss,000,0OO,
ss.,lv 100000 appears to have been
49, from the interior and over ST.
ssoa ma On ordinary Sub-Treasury oper-
.st-s while the deficit last week IN
80 Clearing House statement OF aver
w conditions amounted TO less than
100000.
cor,o disturbance of the loan posi-
- an,eared 10 he threatened by one
- tbe larger banks, which wrote its
.,.orers suggesting that possibly
ssiss in New Street might have beeD
se 49, enough TO establish lower
Us an certain securities. As such
f-rsrr,1ar transactions have been gen
.,sliv ignored and the market is one
'rSsre sales are made through necessity
- nnrchases are few, II is not eX-
s.s,s5 that such action will become
ffsnsral The bank in question finally
synIained il had no intention of de-
-snding more collateral, but merely
~. willing 70 receive more margin
vSsn It's customers deemed II neees-
stry.
demand sterling was again slightly
,Sbsr Yesterday. getting to above
ION Our exports are making prog
,s.. in having our debts, but that prog
,s,s does not seem TO be fast enough.
4 favorable trade balance appears IN
10 governments preliminary estimates
~ lsst months business for the first
lime since March. Exports, which
,sowsd an excess over imports OF
,s,rlv sl7OOO.O00, were S46,OOO,OOo
,Ssvs Aueust's low level, while I'M
,orts were only S1OOOO,OO0 greater. In
Tsw Of the failure of cotton ship
rsrts drop of around S62,00O,0OO be
low the figures Of September, 1918, was,
rot surprising. In the week ended
Tiursdsy. exports Of wheat and -four
vsrs about 100000 bushels, nearly
100000 less than the week previous,
gopgh only slightly under those OF
nd wear. Export buying, however, has
bsr resumed in the last few days and
rssst closed about one cent higher IN
Qizgo yesterday.