The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-10-15
FINANCIAL NEWS
AND COMMENT
Efforts TO Make an Active Curb
Market Encounter Re-
strictions.
EXCHANGE AND WHEAT Up

While larger Affairs remained at more
or less of standstil Wall street in
terested itself some what yesterday in
curb market maneuvres to establish more
active dealings IN unlisted stocks OF low
price. Tho Boston curb market opened
In rather regular way for trading in
such issues, chiefly mining shares. but
the simultaneous endeavor of the curb
market here encountered various Ubsta-
Giles. The upshot OF operations toward
tho end of the day could hardly have been
satisfactory to the promoters of the move
ment.
It Il still regarded as desirable by
I financial interests that no currency should
he given to exact or approximate quota
tons for transactions conducted under
permissive rulings even, in tho case OF
securities which have not been custom
arily regarded az acceptable collateral
for bank loans The idea back or this
notion IL that too much risk attaches
to gratifying even an inclpient demand
for quotations because tho demand s
likely TO grow with the supply and the
financial situation as n whole can pre-
sumaby best be handled with the re-
strictions and safeguards surrounding the
cash purchases and sales effected under
official supervision which, while deny
ing publicity TO tho transactions. anords
the protection OF authority TO the neso-
tiators.
The circulation Of quotations yesterday
resulting from transactions on the Broad
street curb in unlisted stocks under $40
n share was promptly put under the han
OF the Curb Association and had the con-
sequence OF evoklng notice from the
Stock Exchange reminding members OF
the exchange that their dealings in un-
listed securities must be submitted IN
advance TO the supervisory committee.
This OF course qualified very much tho
original purpose OF the curb market move
rnent M the bulk Of the outside business
comes through stock Exchange houses.
Various considerations, more or less
critlcnl Of prevailing policies easily sug
geet themselves when Il Is obvious that
the restraints from which the securities
markets suffer are a hndrancc 10 enter
prise of all sorts. but conditions are 40
abnormal that most criticisms appear TN
reasonable especially rs every EFFORT Is
being made by financial interests to find
prudent ways FOR relieving business In
securities from the embargoes placed
upon g.
The war news was not calculated 10
encourage undertakings % AN extensive
sort particularly In advance Of the die
closure of the recommendations which the
representatives OF the British Treasury
may have to OFFER. Their visit has been
awaited with lively curiosity. and they
will ind the financial community NJ least
disposed toward every cooperation that
does not involve recklese neglect OF III"
contingencies Of the war. More gold
went 20 Canada and the gold fund COM
mlttee continued 20 supply exchange In
moderate amounts. hut sterling hills re
covered to the highest level since tn"
decline OF the adoption of the gold fund
scheme The most encouraging develop
inent In money was n persistent shading
OF commercial discounts. the placing OF
some paper being reported ~ low as
per cent.
Wheat very apparently responded 20
the Implications of the war adNices that
the conflict would be prolonged. Another
rise In the May option carried its price
to a net advance OF two cents a bushel
AT the close. Corn and oats We're both
firm The progress Of the Sl5O.OOOuhO
cotton pool scheme was watched closely,
and II may be said without enjoying gem
eral approval IN local banking circles,
where IL Is looked upon IS project pri-
marty designed To prevent cotton from
going into consumption at prices Mt which
II would be absorbed.
Conditions In the steel trade. according
to the weekly review of the Iron Age, are
slowly but steadily deterioratng. MIN
operations are declining all tho time. and
II IL observed that British makers nave
begun "A price cutting competition.