New-York tribune., 1914-11-24
FINANCIAL RECORD
HERE And ABROAD
Sterling Exchange Again
Rises Against Needs of
Bond Trading.

..,,r,ent buyine Of listed bonds
ah'SSssh, yesterday, buyers appar-
Nss asitinc 20 see n the Stock EN-
enu! ,.,veTnors would decide to-day
ehsns. tber, an open market Short
70 60 and unlisted bonds were in
term .,o6 demand. In spite of the
is'i si Surplus produced by the lower
Erve requirements, the banks CON
49, the announcement that they
hr.iS hrn'SSS not consider this great fund
Ny.o5 Ny..s Tor investment. They held
le.ssSs.fv 70 the loaning rates Of the
as last week. but borrowers, where
enc NE POSTPONED operations in hope
r., the market would soon work
ewer
s,,cs the cause Of last weeks sud
- reversal Of position by the Stock
ST-.honre authorities was understood
!. - ~ unimportant an announcement
20 $50 the foor 90 business in bonds
ol svnected. Provisional banking
nys.n,,;es have been tentatively ar
So for and the general trend Of
49, has been such as 20 suggest no
Pat inrush Of foreign liquidation.
Trading was resumed on the Chi
- stock Exchange yesterday with
...sv-ities listed in New York held TO
S..re prices Of July So Buying or
-. we're renortcd i0 good volume. and
air amount Of business was done.
.. phils6e,vhia Stock Exchange is to
I've restrictions on number Of
.'..t,ve stocks. but will act in accord
- our authorities In securities on
.rt;cb there .s active speculation. Lon
s,- /, said 20 be greatly encouraged
S~ ,be resu't cf the Stock Exchange
....i,ment. bat opinions conflict as TO
-~ts.ler there viii be any general
tr,;ress before the beginning Of the
Sesr Par.s viii probably reopen its
Porrse before long for cash transac-
tons.
p.,rssertatives OF the British Treas
- vbo have been In this country
'~c-si,e 20 bring about closer rela-
.5s,. vith London are soon TO return,
.tsrs thew w..l be Joined by fnanciers
s-,-, this side. Foreign exchange con-
Etiors have so improved that unusual
-.-,s5ies suggested. such as establish
-s,t of formal credit In Great Bri-
uin and paying here. Tor foreign Sc
.--i.iss purohesed with negotiable GER
,iAca.es Of deposit, may not be needed.
Svch remedies. however. VIII probably
h held in readiness, like the resources
n the gold pool. for use should Euro
sss1 sales ir .his market reach such
,o,als as seriously 90 threaten our sup
Ply Of gold.
Sterling exchange yesterday was
Amer. Commercial bills were not Of
isred With .he freedom usual at the
nd Of the week The approach Of the
nd o. the month caused heavier buy
~ snd there was renewed speculative
ABSORPTION r preparation for the re-
-irements eXrected 20 arise from open
E,d trading Demand sterling ad-
urced about @ cent in the pound and
a,srcs were higher. Exchange on Ger
-,ry was decidedly weak, mark checks
,snirr below Sc The German govern
-srt. &. is reD0rtcd, has found II ne
.sssry 20 allow gold 20 be sent 70
Denmark ,- spite Of stringent regula-
IONS against such export, as German
,sser money is deDreciating in value.
News was received OF further heavy
vr orders Such business, centring
mh does in this city, produces an ef-
isr on sentiment out Of proportion
VI. the volume Of the nations bust
1sn One Of The country's great rail-
rst men poir-ed out that so long as
decreased railroad earnings told Of
smaller quantities Of commodities
5sirg moved. trade reaction was still
. be reckored with.