The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-10-17
FINANCIAL NEWS
AND COMMENT
Easy Domestic Conditions in
MOncy-FOrcign Exchange
Strong.
BETTER TRADE RETURNS

Contrasting tendencies continued to he
displayed yesterday IN the domestic and
international money market. Stock Ex-
change call loans were quoted at and I
per cent. and general symptoms OF an
easier position in money were manifested
In tho progress made with the banking
pcheme Tor a large cotton loan pool
The known movements of money showed
that the remainder OF the reserve deficit
which the Clearing Hous" institutions
have reported for two months might have
been oNtuguissled. Preliminary estl-
mates Of cash changes credit the banks
with a gain OF Sl2.OOO.OOO and upward.
A notice that the call would 20 out for
the payment ON November OF the first
instaiment of subscription to the capital
stocI, OF the new reserve bank evoked no
uncasin'ss. The aggregate amount called
for IN the New York district viii hc some
$4,000. 600, of which the banks IN this city
VIII provide about twu-tu rds. but funds
Tor domestic uses are now In increasing
supply
In the foreign exchanges the situation
was different ]: seems "A little ambitious
at the mom,n mt to suggest a $3.50, 900, 900
gold pool for the faCilitation of trade with
South America when the SiOO,uOO. 600 gold
fund has sti.l to produce relaxing effect
son sterling exchange. Demand bills We're
quoted yesterday at i9S. with cables at
ABS Is, although there was q o.! cent re-
action in each class OF rrmittanD" before
the close Exchange on Holland sold at
higher premium than sterling. and other
Continental remittance, with the exception
of marks was cpnspicuouSly firm
The situation IN German exchange Is
pudding. II Is believed to indicate among
other things that actual economic Cundi-
~ 10 nHtuN mt llln "A = an
Portable a. dispatches represent them TO
De on the surface. 1t is also understood
that Germany Is paying here for supplies
of one Kind or another ana taking the
chdnc" of getting them.
A. bearing on the sterling exchange
mark"t 10 o., of great Importance to note
that the British Treasury representatives.
Sir George Ialsh and Mr.. Backctt. are
now mere ON their visit which has been
awaited for the last week They bring
with them very encouraging reports OF the
financial situation in London and take "A
most hopeful view OF the developments 70
follow the termination of the British
moratorium nest month. These visitors
ar, VOL qualified 20 lend assistance In de-
vlsng means to bring about an improve
ment IN the International money market
and promote tn. foreign trade movement
~ well as to provide FOR IN, rcopeninR of
the stock and Cotton exchanges. Wall
Street will he greatly surprised II In the
course OF the next few weeks the intcrud-
uonal conferences which have begun do
not end In steps for a fairly wide rrsump-
tion Of financial and business activities
little ripple Of Commotion disturbed
the financial district during the day on
the publication Of letter sent by lead
ing bank To- Stock Exchange borrowers in
reference To- the m.rginiug OF standing
loans \ good many banks have In the
last fortnight negotiated with borrowers
on this gu,i,tf 4n ipt-4 ffn vi sat