The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1914-08-19
REMARKABLE SHOWING
REFLECTS GREAT CREDIT
Cooperation OF Brokers. Help of
Public and Assistance of Banks
Responsible.
NEARLY ALL TRADES SETTLED
But Financial World Is Not Yet
Ready to Discuss Resumption of
Public Trading-NIodifcati I'm
Rules Discussed.
ny nnoADAN WALL.

NEW YORK. Angus S.-Nincty-
seven per cent of the clearing house
transactions between the members of
the Stock Exchange have been settled.
When the remaining ; per cent is
wound up. the sheets viii be returned
TO the brokers. This truly remarkable
showing reflects great crcdi; on the
operation OF the brokers and the help
full attitude of the public. plus the as
sistance OF the banks.
IL should not he gathered from the
success iu clearing UP old trades that
the financial world is ready to discuss
the resumption of public trading. The
lifoblood of speculation flows through
the channels OF the money market, and
there gre no immediate prospects of
and. aside from this. the market for
foreign exchange has not as yet
reached the point where the bankers
can remit for the stocks Siill remain
ina in London. although sold here
such offerings as were made of
grain and other bills of exchange were
sterling is strong. az pointed out by
Jacob ~. Schin. Any attempt to cvade
Or delay the payment OF our debts in
Europe i'll the present emergency
would ut least jeopardizc our credit.
No attempts were made by stock en-
change houses to- day to deal in stocks
or bonds except for cash. and the pub
lie is urged 10y the board of governors
OF the ASSOCIATE Of Partners of Stock
ders Oh the books of their brokers,
with Wow of avoiding errors. 1t is
further suggested that brokers advise
their clients that they viii not accept
orders AT the market" recommending
that all orders should have fixed linz
Its, and that business should only he
transacted with those who have sup
piled ample margins. or for those who
wish TO make purchases for cash. and
further that stop-loss orders be elimi-
mated
Brokers are already discussing modi-
hcations In stock exchange rules. 1t
rate the banker from the broker, and
with proper regulation Stock EN-
change members should regain the
by the banks and trust companies In
many cases banks have acted as a
detriment OF Stock Exchange business
in the purchase and sale OF shares
Commission houses viii undoubtcd-
~ be required TO Keep wider margins
on customers accounts. and spectators
who ensineercd market movements on
other peoples credit will find their
operations curtailed.
Methods OF tranSacting business be
tween London. the Continent and New
revision. but care should lie exercised
not to restrict the freedom OF the
market for the foreign investor.
NEW YORK, August is.-More activity
n any time since the war began This
accepted az evidence Of further improve
ment ~ the general flnaclal situation Rates
We're frncr. however. because much OF the
recent accumulatious had been disposed OF.
bolnes:te monetary operations also
more numerous. many loans being placed
by loca! banks for interior investments at
tracted Is the prevailing high rates.
Little ground for cncouru cement was Of
torel 10y the official Weather report. which
told oil Increasing deterioration to corn ia
states west OF the Mississippi because az
continued drought In fact. ii IL now geu-
orally recognized that all cereals except win
ter wheat have suffered severe rcvcrscs since
the official July report. This change found
reflection In a sensational advance Tor Sep
tcmpc! wheat In Chicago to-day.
Tho committee which has been directing
the affairs of the stock Exchanges during its
enforced suspension is au;hotity Tor the
statement that the position OF IT. news mem
beers IS Inherently sound. THIS has given rise
- ruinors q! an early rc0pcluS. all Of which
prove 10 have foundation in fact The ex-
change II Is declared, NH no; attempt to
DO any business except Tor east. 80 long a.
INC Britsn moratorium veiuains effective.
Mercantile manor Sfi-. rxcbanras ,,-,.,o