Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1914-09-25
RESTRICTIONS ARE
AGAIN LIFTED IN
NEW YORK TRADING
Bond Houses Given More
Leway to Encourage Sales
Because of Better Feeling.
Talk of Reopening.

Another step toward a general re-
,umptlon of business was taken today
IN New York. The Stock Exchange is
,ped an announcements to the effect
that It has been deemed advisable that
,rsding be permitted in unlisted stocks
a, moderate concessions where neces-
ssry from those prices prevailing on
1ulv 30, provided it is not considered
harmful to the general situation.
There was large disposition to trade
an the part of local investors. Bond
houses are reporting a fair Increase in
buslness. one firm having announced
that its daily transactions for the last
n DAYS have aggregated about $4,000 a
day.
There came into the market his after
moon inauries from London investors
enxious to get hold of some high-grade
raIlroad securities. One larger buyer
asked particularly about st. Paul. This
a a good indication of the general feel
ing abroad and reflects the greater con-
fdence apparent in the future of Ameri-
can Railroad Securities. This confidence
has been helped materially, both at
home ana aDTOdu, lllIOuBil lnb lHltTSlHlt
Commerce Commission decision to re-
open the Eastern freight rate case and
the general belief that the rate adj
yances to be asked by the Western lines
will be granted.
Londan cable says that Government
action in some form looking toward the
re-opening of the Stock Exchange Is ex-
pected to follow the announcement of an
extension of the moratorium to November
.,C N.N,sta 70
cease Action may take the form of
guarantee by the Government of unsettled
accounts.
governor of the New York Stock En-
change when questioned regarding the
re.opening of the Exchange following the
announcement of resumption of trading in
unlisted securities, said that he could see
no reason why the Exchange should not
be opened again by November l, provided
the Federal Reserve system is In oper-
alton by that time.
The 500 100000 good pool has been sue
cessfull completed. Announcement of
the success of the plan to raise S45,OoO,OOO
IN gold among the New York banks and
trust companies as that city's quota of
the slOOCOO,OOO was sent to Washington by
Albert H. Wiggin, chairman of the spe-
clal Clearing House Committee and presi-
dent of the Chase National Bank Mr..
Wiggin notified Governor Hamlin. of the
Federal Reserve Board, that sufficient
subscriptions had been secured to assure
the success of the project and to warrant
the board in giving its approval to the
plan.
SEarly advices from banks in Chicago,
Philadelphia, Boston and other cities in
dicate that those institutions are ready
TO give up their quota as soon as they
IRE called upon to do so.
Contributions of the more important
New York financial institutions will be
approximately as follows: Chase, $780,
0O0 National City. S5.5OOOO0; First Ma
tlonal, 1880 900; Bankers Trust, 81, 100000;
Guaranty Trust S3.6OOOO0; Hanover, 81
5OO,COO Commerce, s3,2OOOO0; Mechanics
and Metals, s2,2OO,0OO, and the Park,
q, 100000
Securities were firm in London today.
Trading was moderately active. There
was further increase In deals offered OH
the tape. American railway shares were
dull, the August earnings of the Bal
timore and Ohio producing n Oppressive |
effect on the issues of that system.
Steel common was firmer at 5O1k.
The financial district Is anxiously |
awaiting a statement from the Stock |
Exchange Committee relative to reopen
ing, now that the end of the mora
torium has been settled upon A call |
for G5l3OO0 on city of st. Petersburg |
loan was due today.