New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-09-09
FINANCIAL RECORD
here And ABROAD
,uhsst Prices Drop Lower
Foreign Exchange
Closes Steady

-,.., broke sharply yester-
Gram tentative advance in the lat"
day' ~ W 81 last week putting the mar
ter h''- s..,,ion where successes by the
ksl - "a rumors Of peace neTO'iS-
aliss ,n5,snite as these last were
t'0ns - hiring about an abrupt break
ss',ss !, The lowest was around six
W. :. under Saturdays close and corn
''lS =, also declined. Foreign ex-
ana r.tss here continued in their
shsnSS tive reasonable levels wnl'e
esnPeIW Washington word Was received
NV a.. Federal Reserve boaro was
hsI ~ a deposit Of SoO,OOO'OOV oil
sonsiVve' Cansda against which America
s0'e vu.lsnd could clear their traaeS'
ane ~ nn5on discount market, accord
lec .shle adyiccs, made further prog
lHs sorsrd normsl resumption Of ousl-
ress ~ ~, that acceptors Of prc-mOrHto-
bessl ALL will not be held liable Tor
rlam thcy do not receive Until after
ahvu"kt - bssn restored. How greatly
PeaCe ,eeJs foodstufs is indicated
t' report that wheat nouI anu
,sts viii not be allowed 70 DC export
p si6e Of the United Kingdom save
.I,.rgb Specisl permission IN aao'-
W. 10 our great shipments. OF gram
.v W. is going out IN almost nor
,ojun,c Las. weeks merchandise
A,s .r+s from this port reached a value
sP.rrr Sl9OOO.O00. some S2,OOO'OOO
tbsn the week before, and only
nv, savio over $1,000. 600 under the total in
10 same week last year
me- government crop report OF condi-
.;,.s an the first Of the month, while
.tsv.;nc deterioration as expected from
~ Srv heat. left the total wheat crop
..,;r,sfed Al the record figure Of S96,-
~ ooO bushels. The indicated crop OF
ling ,o,;nv wheat fell of 100000 bushels
tbe month 10 221 100000 bushels,
"a ccrn dropped back some 36,000.000
S,.bsls 70 a59S. 100000, which, while
80 than the average was better than
i,t year. Oats, in great demand by
SorpiFn nations, are expected to yield
4, IRON Of l,lI6,000,0O0 bushels, less
,b,n for the two preceding years, but
Lst.sr than normal. The Census Blu
rssp's cotton ginning figures showed
bou discouraged the South is at the
iossensd European demand for its great
stsple Only shout 475,500 bales had
bsen ginned up 20 September I, as
compsred with 10000 al the same time
LAST wear. In Texas, the failure of
planters 10 90 more than hold the cot
ION As picked in the seed cut down the
bales ginned 10 less than one-hslf of
last years total
From Washington, the Federal Re-
serve Board was reported as consider
ing the recommendations of the com
mittee appointed by last weeks confer
enee Of bankers. These are, II is under
stood, that the banks Of the country
form q syndicate 10 furnish by reserve
districts Up TO S1jO000,000 for payment
Of our debts 70 Europe, with an immedi-
etc gold deposit in Canada. in this way,
il IS hoped, England will be able 70
finance the movement Of needed grain
stufs and eventually little gold will
be lost 10 this country. The interior
bankers now realize that the foreign
exchange question is one that they
must help New York meet, and with
their cooperation bankers here expect
rates soon 10 tall TO d point where
gold exports 10 Canada will be unprof-
table Yesterday demand sterling got
down to 49625 but closed at Satur-
days final figure Of 4.9S
Much interest was felt in the result
Of to-day's conference Of railroad men
With President Wilson. How pressing
are the needs Of our transportation
systems may be seen from the high
rates recently paid for extending loans,
and it is estimated that within the next
year some S500,000,000 of railway obli-
cations will mature.