The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1914-10-29
DIVERSITY OF RATES
CAUSES COMPLICATIONS
Customers Read of Call Money at
Per Cent and Naturally Object
to Higher Charges.
ousEs ARE EMBARRASSED
Some Notify Clients They Are Quit
ting Business in Order to Force
Settlement-Little Surprise Shown
Over Reduction of Steel Dividend.
ny pRoADAN wALI,.

Interest rates is causing all sorts OF COM
toners read in the daily papers Paper Of eaii
many houses have been unable to get their
rates reduced. owing TO the inability of
lenders " '' ''''' '''''''a' 'e'''N W. -
Rates vary with the ans5snse in the
quality OF the collateral: steady pressure
is notable against nondividend- paving Sc.
were acceptable early in July are not
ceptabe In loans to-day.
EMBARRASS HOUSES
THAT ARE STRONG
in some instances call loans were marked
below per cent to-day. and bankers pre-
figures only embarrass houses that
strong; as customers with credit balances
canno; be granted In some cases. as brokers
refuse to tender funds In fear that they
en na e wish to Withdraw his baianee I'll"
Some houses seek protection by notifying
business. and are urging the settlement OF
accounts or the payment OF balances at the
Some OF the older Investment houses
now taking an optimistic attitude. and are
bonds as are mentioned below. The yield
is on maturity basis:
southern Pacific con. is.,.:. = SIS
Baltimore and Ohio con. As. S9h 500
authorized for trading by the Stock Ex-
Little, surprise. and some disappointment
in the Steel div:Iend from e per cent to
2 per cent basis. Marlsct-wisc the action
ten points in the outside market for shares
Steel common closed S9SI39ss.
s" VI Hi6HGi IMPORTANT
Penns, ivania,s declaration of the quar-
Highly As pi hs Stock IS so MseS
h sek oy Outside prices for the
vania stock has been of the safest
the past.
There was a notable failing off in the
ms orders were eanceed. and the aa aTadnE
was reduced to , dealings In odd lots for
dealt in at 7s Union PaeIc ut around ios.
Northern Pacific at 81. and Great Northern
preferred at lo5S.
New York October 2s.-Foreign exchange
markets showed little change to-day. aside
from n slight hardening Of rates on London
and German financial centres. There were
Large offerings Of bills In censeauenee of
export. Competent brokers think exchange
on hondon SO far as 1t affects practical
interests profess to- see in the increasing
adjustment of exchange. They declare that
IL exports arc maintained at their present
high level for the balance Of the year. Amer
lean obligations across the water will be
changed to credits and the present menace
of liquidation OF American stocks by Eu-
rope automatically expelled.
Advices from New England and Western
points Indicate another hitch In consumma-
ton OF the cotton pool. Banks In those sec
lions hesitate to give their approval II Is
said. unless financial Institutions in cotton
srowins States show their ability. to con
n nd nfha
serve centres.
For The first time in several weeks the
banks showed fairly large loss OF cash
to the subtreasury the known money
movement. 1t was not believed. however,
with Its restored surplus. would be seriously
disturbed.
An increasing demand for money for mer-
camille purposes was reported here, and at
other prominent commercial centres the
most seasonable weather having given an
impetus to many lines of business.
An echo of conditions in the steel Indus
try was heard In further deferred or sus-
pended dividends and the weekly reviews
of trade authorities, which state that the
winter prospect IS far from cncoura ging and
that prices continue TO Yield. Almost the
fted by the war Is barb.d wire for which
many new orders have been received.
More gold was transferred to Ottawa to-
day In further payment OF debts arising
from the city loan note issues.
New York; October es.-closinF: Mercan-
siNty-day bills. slS65odsi.s7: for cables. sac: :
for demand $so& Bar silver. iSls.
-----