New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-11-15
FINANCIAL RECORD
here And ABROAD
cood Demand for Bonds
Banks Reduce Loans,
but Surplus Drops.

week closed with confidence and
item Of continued Improvement
NF,e, throughout the financial dis
Nancy rates showed further re-
"', =, and the Clearing House state
r.vesled no unusual call from the
-. - on banks here TO finance trans
:. reserves 10 the new regional in
J" ..,,;ons Security prices generally
firm. Bonds, it is understood
" a.slt in last week in the largest
W. -. since the exchange closed. In
- 80 500 OOO.O 900 Of bonds have been
.1 IN through the various supervis-
smmittees since the end of July.
s Ttousb exports Of gold to Canada
49, nearly SlS.OOO,OOO, the average
- holdings Of Clearing House insti-
80 Cor the week resulted in a loss
i."s chan $500 600. Loans were
O Ell 100000 lower. but deposits in
ee. go some $4,000 600. so surplus WAS
G,a.s S 100000 90 under $4,000
~. ,,eek lower reserve requirements
w w. rew Federal Reserve act and Of
"~,snded banking laws Of this state
EJECT and even II there is some
F".'5 transfer Of out-of-town depOs-
49, because Of the necessity Of
s..,;o~ reserves IN the new regional
s,sts credit facilities should be great
o c,:s-.rietion Of Clearing House mem
=, wss S2S.501.Oo0, and retirement OF
80 currency is being continued.
t.l..,;rc House certificates, u is under
800 are being gradually turned IN.
-. viu be made easier BIS the Re-
=. bs,k here will be able 20 issue
60, .,+ss against such Of the collateral
.r-5 these certificates as consists or
....--~srcial paper available for redls-
-. The new banking system Will
-. with cordial cooperation by the
- hanks. They viii turn in practi-
~, an their required reserve in gold
IA certificates. and some Will de-
80. more than the law specifies.
E'S,s,lirc exchange closed well under
- gol8 EXPORT point in spite Of liber-
= hgvirr bv mercantile houses. For
=, ,resent,our financial relations with
60, Britain are adjusting themselves
...,r-b the ordinary channels Of trade.
i,.s- h may be that return of our Sc
---i,;es Will be in sufficient volume
- than 10 offset our increasing ship
80. of goods TO the other side. IN
N, ease our bankers viii avail them
-irss Of the privileges of drawing
M against credits established
S,,prh their British correspondents.
=. representative Of the British treas
- Mo has been visiting US has an
...,eed that the London money market
rrsnsred 90 discount freely, which
-,sss that 6nance bills should be
rsdy accepted.
h London yesterday arrangements
q, he stock Exchange settlement were
y,tinped. brokers generally accepting
..,hsr interest rates for settlement
ans IN place Of heavy collateral mar
ne Discount rates were easier, two
-on,bs' paper being bought as low as
III per cent. Special cable dispatches
vport that the British government IS
arranging for q loan of $3.50, 100000,
n be issued on favorable terms. Word
vas received here from the Chicago
S,O,s Exchange that its plan for re-
srening on November % would not
conflict with the interests Of our mar
ke, Trading in New York stocks will
moi be allowed under closing prices OF
Julv 80 unless concessions are mace
tsre in the meantime.