Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1914-11-21
in COMMERCE.
AND FINANCE
Events and Tendencies Of the
Week in the World ofStocks and
Bonds.

Bonds.
The pronounced betterment Of Last week
in the financial and commercial markets
was carried stiil further forward this
week.
The most important event was the
opening OF the 10 new Federal reserve
banks, which are located in various parts
" the country, on Monday. Under the
new banking law member banks OF the
regional banks are permitted to reduce
mated sum of $3.50, 10000 from the vaults
which ls now available for the transao-
tion Of the country's business. The be-
ginning Of these new banks did moro
than anything else to strengthen conf
dence and generally aid the financial
situation
Other events OF import in the week
were the official opening Of the New
York Curb Association for trading on
Monday. the decision OF the Special Com
mittee of Seven OF the New York Stock
Exchange to permit transactions In un-
listed municipal and State bonds with
out restriction and without reporting
transactions TO the committee, the action
OF the directors of the Los Angeles
Stock Exchange in deciding to reopen
for unrestricted business on December
Z, the plan for resumption of business
Monday OF next week for restricted
trading in stocks other than local stocks
there, and on the Chicago Stock Ex-
change on Monday for trading in listed
and unlisted issues, the closing price OF
July 30 the New York Stock Ex-
change TO be the minimum price, and the
announcement OF the opening OF the
New Orleans Stock Exchange for trad
Ing In bonds on Thursday.
Secretary of the Treasury McAdoo an
nounced during the week that the s1ss,-
100000 cotton pool for the relief Of the
situation In the South had been success
ful and had been oversubscribed.
Samuel T. Freeman q Co.. auctionssr
announced that they would resume their
weekly auction sales OF securities on
November "a the sales made to be under
the Jurisdiction Of the Special Commit
tee of Five OF the Philadelphia Stock
Exchange
great deal OF interest was caused
during tho week by the report from
New York, that trading in bonds at
minimum prices would be resumed on
the floor of the New York Stock Ex-
change today. Later 1t was announced
that certain obstacles had arisen which
would make It impossible to begin busi-
ness. The Governing Committee of the
exchange will meet on next Tuesday, and
| II Is expected that II will take some
| definite action on the matter.
| Dealings in stocks and bonds through
out the week In this city, New York and
| other cities were reported to be larger
than they had been for some time. The
majority Of the sales and inquiries APP
| peared to be for short-term notes, rail-
road and municipal bonds. Prices, too,
were as n general rule slightly above the
closing prices of July 80 and in some
! cases as much as 4 and 5 per cent.
higher.
Banks all over the country retired large
~ ar4n Ina
| Gates and emergency currency. The
total amount OF emergency currency still
I outstanding in all sections of the United
States. according to figures given out in
| washington, is 1924. 100000. Less than
| one-sixth OF the Clearing House loan GER
tificates issued in this city since the first
part OF August that are still outstand-
| ing.