Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1914-11-18
PLANS TO RESUME
TRADING IN BONDS
ARE BEING AWAITED
Financial District Believes
There Will Be Daily Calls
of Selected Securities.
Sterling Exchange Weak.

Formal announcement Of arrangements
70 resume trading in bonds on the floor
OF the New York Stock Exchange was
awaited with interest in the financial dis
trlct today. Full details of the plan have
not yet been decided by the special COM
mittee.
II is generally understood however,
that there will be daily calls of selected
bonds and other securities. Meanwhile
transactions in bonds are going on
through the committee and over counters
on a large scale at prices to points
above the prices prevailing a month ago,
and additions have been made TO the
number of stocks traded in through the
New York stock Exchange clearing house
The New street curb prices have not
maintained the high range established
at the beginning of the week. There has
been an increase In supply and de-
1ivcries, both on transactions In the open
market and through the Clearing House,
which have been made In foreign cer-
tihcates. Foreign houses, however say
that this does not indicate present
foreign selling, but release OF stocks
received from abroad in the first week
of August by the Olympic and other
steamers which have since been carried
by the banks to which they wete orig
tnally consigned.
These consgnees desire to avoid the
necessity of making transfers to their
own names In order to obtain dividends,
for which transfer books soon close.
Canadian Pacific. Union Pacific, United
States Steel common and number of
other Issues will sell ex-dlvidend on De-
cember 1 and are prominent among is
sues OF which foreign certificates are
now being delivered.
Present foreign orders are on the buy
ing side. One New York house has just
received an order to buy 1000 Anal
gamated and United States Steel from
Berlin. by way of Amsterdam, and many
buying orders have been received from
Berlin.
Arbitrage brokers received no cables
from London this morning about the set
tlement, and they assume this means
that the settlement progressed without
trouble. Some of the leading banking
houses received notice by cable that the
British loan had been offered and that
their correspondents would be pleased to
place subscriptions for New York ac-
count.
Money was freely offered at per cent.
on both time and call loans, with banks
disposed to be liberal In regard to coll
lateral. Sterling exchange was weak
because of absence of bids. Demand SiS7
and cables &.s719. French exchange was
SSdiCo anu lue IndTReL was strong, with
cables in demand at $5,12h.
New street curb prices: United States
Steel common, AZ; Southern Pacific, s2X
Atchison, T1s; Pennsylvania, 1OI; New
York Central 79I5 Reading, 1884.
With an improving demand for both
stocks and bonds In the local market to-
day prices advanced in some cases and
for some issues they were per cent.
higher than a week ago. The most
prominent feature in the days trading
was a demand for International Smoke
less Powder common stock Some
strength was shown In the stock yester-
day and there were sales reported at q.
Today. however, a new buying move
ment started and the price went up TO
% bid for 1Oo-share lots The stock sold
around 10 and 12 in July and there was
a very narrow market for It. The
strength and renewed demand was attri-
buted to the belief that the company has
received some larger orders from the
Government as we'll as from European
countries Pennsylvania Is of 1e4s were
sold at 971s and the convertible Shs were
sS%. Crhere was an inquiry for Spanish
American Iron Company ss at par.