Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1914-09-15
INVESTORS SHOW A
DESIRE TO RELIEVE
| FINANCIAL TENSION
encouraged by the Better
Feeling Everywhere Ap-
parent, They Display Con-
6dence by More Active
Trading-Prices Higher.

.,ed successes of the allies In Eu-
having good effect on the Lon
.t,otion. and the better feeling
a,., "a anparent in financial circles In
..o,ronolis is being reflected here to
marked degree. The advance In Eng
oorso,s today, the almost sensational
n,tns In grain prices in TINS country the
peesnrod confidence of foreign investors
-. tbe stability of American securities
nrd more active trading ana cohsequent
tiiN.ar a,J nrices in Wall street and on the
lIs. ynrk Curb-all contribute to the
~ feeling which is apparent in near
,sIi petsIi anancIal centres and to a renewal
nradence in the ability of American
j ~ oaanoiors TO successfully cope with the
llilnlan,aiieled llllanlld situation that has for more
mlo a month enveloped the financial
Ensrkets of the world
sondon apparently displays far greater
,.ongth and courage than New York,
~ lnouirles from London were received
bsrs for the new per cent. New York
{,ey notes. European investors Know
4hat hIah-class American securities are
sior than their own, and many con-
ard that foreign liquidation would not
N heavy If the New York Stock Ex-
4hsnro reopened next month
II An indication of the altitude of invest
=. /. shown in the feat that there were
7 8nore buying orders in the local market
I'M afternoon than there has been for
u lang time From abroad came requests
H. several types of American securities,
Io,ahly Standard Oil, Union Pacific and
Eonthern Pacific. London brokers made
the Inquiries
4 Pennsylvania sold for 90; United States
#steel was quoted around 4S. and an order
1for 100 shares at 40 could not be filled.
$rhere were actual sales of Union Trac-
ktlon at 40. United Gas Improvement at
ID Reading at 20, Cambria Steel at 42l3
Several Philadelphia municipal bonds
4changed hands at 1918 and 1O2.
j In the unlisted securities the special
ssommttec supervising the transfers spoke
3encouragingly of the outlook, and ad-
4 5mltted that demand for bonds and stocks
IN this cac is more general than they
had expected.
better market exists in this city to-
day than at any time since the Stock
Exchange closed. Committees whion have
been supervising investment transfers in
both the listed and unlisted securities eX-
press much satisfaction with the turn of
affairs There has developed a better dis
position to trade on the part of investors.
land many brokers have been able to
materially reduce the amount of their
outstanding loans, much to the gratitica-
4 ton Of the banks. The latter have given
the traders every aid possible in the last
! few weeks, and there is no record of any
large loans having been called.
/ 1t is generally admitted that the first
necessity for safe and sound market
when the Stock Exchange shall finally
! open must be a return of confidence of
investors in the securities traded in. There
is but one way in which this confidence
can be encouraged. namely, by the alb
sence of unnecessary antagonism by off,
cials, politicians and others and by the
removal Of restrictions that have in the
past prevented corporations from con-
ducting a sufficiently profitable business
to render their securities attractive to the
savings Of the people.
Railroads need higher revenues to make
their securities thus attractive as repre-
sentlng successful business enterprises. If
the transportation companies are placed
In position in which they can obtain
new capital on workable terms it will not
take long for extensions and betterments
to be reflected by increased orders in the
IRON and steel industry. In turn activity
VIII be promptly communicated to the
other industries