The Washington herald., 1914-10-10

other products to Europe are increasing
and substantial relief to the exchange
market VIII be brought about through
that cause. It also Is considered desir-
/ able that our imports should be cut down
as far as possible, so that consumers
may depend on the home supply to 9
greater extent than they have been do
ing In recent years. Present conditions
IN the exchange market tend TO bring
about the desired result, a. foreign ex-
porters are not willing 70 ship without
knowing how or when they may be paid,
and American importers are no less un-
willing to bring in supplies without being
sure OF their ability to make payments
without sacrifice Of reputation or profitS
II is considered probable that a large
part OF this country's indebtedness to
Europe viii not have to be discharged
at this time, and that IL obligations can
be held over until Great Britain's conn.,
dence becomes q little more firmly es-
tabifshed. not only will America be al
lowed TO retain what II has. but may be
able to borrow further large amounts.
This would be a development Of the
greatest importance. in view Of the prob
ability that the period Of depression here
will be short lived and that IL will be
followed by a new era Of business ex-
pansion.
AdVIces Sent Bankers.
New York Financial Bureau to w. B.
Hibbs & Co.-'FfnancIaI Interests are re-
ported to have been privately warned by
British banking factors Of crisis immi-
nent in the war situation abroad. VitaIly
important news is declared as likely to
develop during the next few days. It Is
intimated that both the allies and the
Germans are bracing themselves for a
great blow. Attention is, therefore, To-
cusing more tensely than ever in Wash
ington and New York upon the advices
from the front.
the tension to a certain extent, and there
is evidence Of manipulation in the trad
ing. accompanied by all sorts OF rumors,
with irregularity and jumps in prices
AS near as We can learn, the hints con-
veyed from London are to the effect that
the British navy is becoming active coin
cident with the Zeppelin rumors relative
to an attack on the English capital.
Forces of the allies are also concentrat-
ing for a surprise attack on the Germans
in Belgium not near Antwerp, but else
where, according TO this information.
The latest reports received in New
York financial circles regarding reopen
ing of the stock exchanges is that ar
are being made whereby
both London and New York will stimuli
resume business buttressed by
the backing of the British and American
Foreign interests have advised certain
New York private banks that not only
will a large number of selling orders be
in American rails, but buying
orders will replace them in some cases II
the roads get higher freight rates in the
near future"
English Hanks CozdItIon.
The Bank Of England yesterday issued
a very favorable weekly statement show
ing reserves amounting to PA per cent
Of liabilities, as compared with 22a per
cent last week. During the week the |
bank added SIS, 900 to its gold reserve, !
making a total OF S2S3, 10000, as compared |
with S1S7, ,990, 900 last year, and the largest |
sum its vaults ever contained in all Its |
history.
After the statement was issued the |
bank bought S7,92O,O00 in gold In London |
and gained A.50o0oo at Ottawa, so It Is |
likely to be still more pIethoric next |
week. According to the weekly state |
nents.y the bank has gained aA, so. 900 -ins
yold since August u the low level fol-
owing the gold run caused by the war
rhe bank has succeeded in reducing its /
oans, and the statement reflects a de-
;ided improvement in the general situa-
ion in London.
Dynamite Losses Noted.
That the manufacturers Of explosives
lave not suffered as much as those in
Iome other lines OF business from the de-
,ression is indicated by figures which
iave been compiled by a high trade