Evening star., 1914-10-09
FINANCIAL CONDITIONS
ARE MORE CHEERFUL
Expect Plight of Railroads Will
Bring Freight Advanee-Lon-
don Is Hopeful.
Washington Places $1s, 500 Lawful
Money at Disposal of the Gold
b.. Pool-Gossip.
BY I. A. FLEMING.

There are numerous signs of improve
ment and betterment in financial cir
| cles. These have not taken positive
| shape in all instances, but bankers are
| more hopeful and are caring for their
! customers up to legitimate require
| ments. while some few good real estate
loans are being made from day to day.
But the real improvement is senti-
mental. hopeful and promising. The
| rehearing in the rate case. with the
| increasing belief that the emergency
| of the railroads will be made so plain
| to the interstate commerce commission
that even better than the 5 per cent in
crease may be expected. is one cause
for betterment. New York financier
claims to have information that the
antagonism of the commission to high
er rates has been eliminated and the
financial and railroad world hopes that
the information is soundly based.
All officials, etc, of the various dis
trict banks in the Federal Reserve
Association have been named, and the
operation of the system cannot be so
very long delayed.
It is also a fact that deficits in legal
reserves in national banks will be
turned into surplus reserves once. the
new system Is installed. Much COM
mercial paper which banks are slow
to receive today may be readily ne
gotiated with the system in force.
Moreover. London itself shows signs
of better feeling.
Local Gold Pool.
At a meeting of the Washington
Clearing House, held this morning, it
was decided to pay into the hands of
local committee 25 per cent of the
$750,000 allotment of this city in the
gold pool, to a committee consisting of
w. J. Flather, George w. White. w. T.
Galliher and H. H. Mckee. This pay
ment, s1s7,5oo. will be in gold notes or
coin and will be held subject to the
call Of the New York managers. First
receipt for the fund will come from
the correspondents of the contributing
banks in New York city and the final
receipt from the managers of the
gold pool.
Foreign Holdings.
Foreign holdings of the Consolidated
Gas Company of Baltimore are $685.
900. OF the Batopolis Company $500
shares are owned abroad, and but $40
shares Of the Consolidated Copper Com
pany.
Financial Notes.
$34s.342.O00. 1t is expected that the to-
tai issue will be inside of $500. .00O, 900.
New England has $27.000,000. eastern
states $173,000.0O0, middle western
states $4,000, 900, western states $4,-
100000. Pacific coast states $11, ,00O, 900
and the. south $46,000.O00.
,Endicott, Johnson & Co. cleared up the
hide market Thursday with the pur-
chase Of 100000 hides. evidently for
foreign order of shoes. The concern
manufactures 1900 pairs a day.
Atchison's gross loss for fiscal year,
$6,700.000. largely set of by economies
in operation.
Great Northern's surplus for fiscal
year, $3.311.571. as compared with $4,-
2S2. .168 for the previous fiscal year.
The Richmond Convention.
Plans for the entertainment of those
who attend the annual convention of
the American Bankers Association in
Richmond, Va, October 12-17 have been
completely matured by Richmond bank
ers and the city authorities.
The gratuitous entertainments run
the gamut from steamer trips to old
jamestown Island, visits to historical
points of interest, golf tournaments
and balls to concerts by grand opera
stars.
While the convention proper does not
begin until Monday. October 12, many
delegates will reach Richmond Sun
day: For them there will be a special
lay service. to be conducted by men
well known in financial circles. at
o'clock Sunday night in the new Second
Baptist Church.