The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-11-01
FINANCIAL NEWS
AND COMMENT
Banks Continue to Build In a
Surplus Of Re-
serves.
MONEY BECOMING EASIER


reserve of about Sij.U0O. O0O. win rpas 1T
the beginning or G.tuhpr a dnt.t of
$4,000 GOO appeared The movement OF
cash toward She bank. WAS carried or
and resulted Goo % gam of about St.aou.ou1.
Furthcrmpr loans continued to shrink
moderately. although tn, d,.rots, seemed
10 be almost who'll, accounted for h.. TN.
further retir.iu,pt OF ,.r,pI,t|1o
Altog thor Wall Sfu.,t f.'t tina. , most
sa,iarartorv V,I n,d cl,s,d p,vot,p-
men.a a., mos d.r,c.t,ns furnlsb,d stron p
,,nnrma,ion NJ ,,r.yl,us Indications that
80, ,ro.,o.. b "a -, III 40, 10 AZ,
s.o,,or, ., ,...,-',,,. ,l,, n,,,,.,., a,,d h,,,,
40, .,u,i,h -,u,r ,n, sf,u,tfon rorls ro,
\. -. ,,NIoa..d ~, a.. Ito, 81.
uV' ~, , . - '',, e.,
49,, -, -, 49,
~ -. -. 49,, ~
49, I"'oir' "' ''',.o. % -
s a.u.IS ''
Wv e',' ,'v.'"' ."''.
sNe ran IN rnt'S In.e"' almost 3S "t-
ncuIt 10 h'"''" As 'h' '..'.. ''' ''N''''
"''vn o''urf'u '"' &c i"'',''. '"'
bN'ntS 'l ''' ''.' OF N'' were nor
c9"u''''u 10 u''"" 'u''''''''t. IT,
spread OF the h''r t'u''.oh .. S"A. I'D
AFRICA was nor EdfI'l hS iN..t ~ u'
serious unless D. should 'Nr"i'N '' N"H'1
African 90 product on The "n'rin'.
OF Turkey INTO ia" $50" was interpreter
cnicfy az sign ar desperation ora iH'
part of - rWgry and us likely 20 bring
neutral Egrp",in Countries into action on
IN, side of Oh, 1000 .s and so make for an
shbreviat'ou o. fh. conflict Nor vas the
check adm r.s,o"s1 10 Germany on both
trout, iuterpr tod as adverse 20 the pos.
s'bIltloy or au early termination Of the
war
Tho financial position abroad which nf-
fccts us most ;he situation on the Lon
don money murket-promisos no dcrange-
nent 10 follow the coming termination OF
the British moratorium The Bank ~
I.a - ...'r q
and the ratio OF its reserves 20 Liabilities
is now doubl, the figure 90 which II was
reduced In the first week OF August. lf
the moratorium Is brought 20 a success
rul close the way viii be cleared for the
rcopenlng ~ the London stock Exchange
which will IN turn help 90 prepare the
way for Stock Exchange rcouon'nE here.
Arrangements are already making for
resumption OF business on the Paris
Boursc
Investment confluence IN 'N's country ~
Clearly ROWING. iHe fna'hti 'NF f"'i
time notes IL very active ana s,r"nF' an"
broadening business j. nc'hg zone Nv
nonas NJ price" WHl'n' N'r.H ~"
IeVci rnHhg ~ tne cru Oh .u.F' I'P....,.,',,
ue.'.eu sa,,. 49, a,,o p,,t,r,g am,
sFs t..-,,. ar, ~, ,,si,, %, i.r,,
ouS.,.e.s ~, ,,,i,, so..o v,,ib IN
he do,orr,,,rd ~, tho elections newt vrco';
~, 80 ,%n ,.o.o sho,,Id rcn.r. an incr,as-
,,a,,, oo,.or,.o.t,o J,sno.itjon throurhou,
,he countrv I, v,o,Id make a very helpfui
coordination ~, business and financial re-
co,.-,
Dones.,c +rnh. and Industry need
some stirnulus In addition 10 that which
10 derived from the growing export COM
uarce The drastic reduction 81 the
United States steel Corporations dividend
from the rate of per cont. a Noor TO
per cent. tostlhes 20 the severity OF
current Industrial depression, except whore
aNfyy, httAH Il. ~
and all the domestic circumstances go !"
show that the country suffers from ,h'
suspension OF tho organized cai''a' mar
ket
Everything winch con'uc's 10
opening OF restoration OF the FeEu'F
securities market makes Tor "',nnsn
and some OF the necessary conditions "I
resumption have already been NIuchSated
IN the substantial b'tternent OF N" BANK
ing position and the money situation NJ
home and abroad II the Interstate Corn
merce Commission grants the railroads
tho relief asked for IN the reoperef
Fastern ratio case q IS altogether probable
TINT banking intcr~g.s will not 10 long
In da,iJinr tha- thr time has arrived
To- Sell Trvchanre reopenirg
parl clearlnps cunning continuously
-. raa,c,Ion az ahout Oh pe- cent from
s.o--o-.ro,dIrr e,,uros last ,,,ar measure
o,,s,a ,,,,troctlor IN domestic enter
,r,,o av+,ort ,ro1a which the coun.
pIl9 - 49, 49,, go , ,o,rarr,,,
Wy - ~" ''.,h ,.., t,,,y,r'.sa recovs-v
.Hn'.us " -. C,,,,,,o- a,J
oVh'h GU, 80 e, ,o,,o ,,,o,,i,,,
Cotton VA. "~u 80 ,,o,,,, o,.I
70 'he out""ru o'c'",'.l vs. ,',Ia5 -
commodities "''ch as ',1U,' '''',u' 80,
rising t"war" Ie'"ru Io-u."eH, tl,u ~
The same time the 'e'"'h'S VI I'PO -
was relatively toward r. Sup''ahl.h ~ u'-
cline. although the impnr' movement
stlll rather wal H"l'''"I'''N' 80
believed that the export Flo' VIII .'
disastrously interfered with py we az
hculties which the war !s creating as
denoted by the st!n insurance rates ana
the controversies over controhand.
Tho rcopen.nG OF the cotton exchanges
seems TO be IN the very near prospect
The scheme FOR a banking pool 20 furnish
loans On cotton makes Nu' laCgart head
way because II is evident thai win the
future rl,et for cotton restored mo
nrIcc ~ tho staple and the Credl' 20 be