New-York tribune., 1914-11-18
BOND TRADING
MAY BE RELEASED
Wall Street Believes Definite
Progress Has Been Made
on Plan.

The special Stock Exchange commit
tee of five and bankers were in practi-
cally continuous session yesterday,
and while no official statement was is
sued Wall Street was sanguine that
definite progress was made on the plan
TO reopen the exchange for trading I'm
unlisted bonds. 1t was learned that
the committee placed before the bank
ers. who are the real cause Of the
delay IN resuming unrestricted secur-
ity dealings, data collected 20 show
that foreign liquidation of American
securities Will not be so great as many
Of them think.
Emphasis was also laid by the com
mittee on the fact that bond prices
duri.C the last few days have shown
"a decided GptuIn, which they point 20
as evidence that snc investment de-
mand from this side of the Atlantic
will absorb q vast amount of European
selling.
According to report, one of the feat
ures of the plan for reOpening con-
templates the re-establishment of the
old call system, with calls each day of
selected bonds, and possibly guaran-
teed stocks. This scheme, il was said,
does not meet with universal favor but
it is the one suggested which presented
the smallest number of Objectionable
features. Resumption Of trading on
the floor Of the exchange in bonds and
guaranteed stocks would bring about
the re-esablishment of the quotation
service on the tickers, which have been
silent since July 80, except for an oc-
casiOnal sputter when some ruling Of
the committee Of five was announced
or when the operator was testing the
instruments.
Members Of the committee Of seven
representing the prominent invest
ment houses in the financial district
have made known their willingness 20
remove the restrictions still in force
on bond trading. One Of them said
yesterday that so far as he committee
felt he embargo could have been lifed
two weeks ego
Further evidence that a resumption
Of trading in all securities viii be
fraught with less danger than some Of
the timid ones think was furnished at
the Stock Exchange il was said that
about thirty listed stocks are now sell
ing at or above the closing figures Of
July 80, or those prices minus the first
dend issues, and that the volume Of
business through the Stock Exchange
Clearing House committee has largely
increased in the last few days.
An official of one Of Germany's fore
most banks, who conferred with stock
Exchange governors yesterday, predict
ed that there will be little German sell
irg in this market after the reopening
He said most of the liquidation from
the Fatherland began more than year
ggo. when il was seen that the attitude
Of this government toward the rail-
roads was a hostile one. For this rea-
son. ne said, most Of the selling Of
American securities had been comp tied
before the Stock Exchange closed. lie
thought that q favorable decision IN
the Eastern freight rate case would be
an important factor in forestailing fur
ther liquidation His estimate OF Amer
lean securities now held IN Germany
was S25000O,0 600.
A table published by "The Wall
Street Journal" shows the following
present bid and asked prices for eleven
high grade issues, compared with the
July 30 prices.