Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1914-09-14
FINANCIAL OUTLOOK
BRIGHTENS AS BOND
TRADING is RESUMED
Local Committee Begins
Sessions to Arrange Off
cial Prices for First
Authorized Business Since
Exchange Closed.

Trading in unlisted securities was re-
sumed here this afternoon under the
supervision OF special committee named
by the principal bond houses and APP
proved by the banks and the Philadelphia
stock Exchange similar committee be-
gan work along the same line in New
York. Each announced, at the close Of
the first days session, that the situation
in the investment markets had assumed
a more decided tone for the better. and
that there Is every indication in favor OF
q moro general resumption Of business IN
the next week or So
There was general response locally 10
the requests of the COMMITTEES for sub
mission by brokers of offers to buy and
sell and thousands Of dollars worth of
hlgh-grade bonds changed hands today
under official supervision The COM
fnittee, at the close of its first session.
expressed its complete satisfaction with
the progress of affairs and while II is
announced that there would be no pub
icity given the prices at which the varl-
Gus types of investments changed hands.
the rule that prices as of July 30. when
the stock exchanges OF the country were
officially closed, would form the basis for
OF course. with unlisted securities.
there is a wider margin between the bid
and asked prices than there ls in the
case of the listed bonds. and this fact the
committee has taken into consideration in
its approval of sales and purchases In
the case of bonds for which a certain fig
ure was bid Just before the close of the
Exchange, II there is evidence that there
has been no material interference with
their worth because of the war situation.
the trades are being officially endorsed on
the basis OF the bid price.
The bond houses and the committee
have agreed that there shall Re no price
cutting OF any kind. nor will any at
tention be given to mere bond exchanges
The idea is to afford some relief to the
market in a legitimate way, and II is
believed that under the restrictions to
be laid down by the committee a con-
siderable business will he done in high
grade securities
- The Stock Exchange Committee con-
tinucs its dealings in listed stocks and
bonds, and has already approved the plan
for trading In the unlisted securities
With both branches of the investment
business working in complete harmony
there is every Indication for a healthy
resumption OF trading. which shall go a
long way toward imparting to the mar
ket a conservative feeling of confidence.
Europe. OF course, holds the key 10 the
entire situation. Progress of events
abroad governs conditions here. With the
reported successes of the allies comes
better sentiment and the general opinion
seems to be that improvement from this
time on Is likely 70 be quick and drastic.
There is talk In New York today OF Pp-
openim )the Cotton Exchange and more
than rtte broker has ventured the pre-
dictsar'that by October 10 the exchanges
of the country will again 20 in ful. swing.
I!--hs.4of course. is a.. a matter OF guess
work. No one can forete,l what j. likely
10 happen but Judging from recent events
In the fnancia. field indications are not
lacking that the guess is likely 10 be a
good one.
There appeared 70 be more selling than
buving orders In the local stock market
today Very little interest was shown,
and the public st!ll shows no inclination
of doing anything one way or the other