Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1914-11-25

News 0vershadowS All Other
Developments Of the Day.
Only Restricted Operations
10 Begin With.


New York. Nov. 2i.-The New
York stock exchange win re-
open next Saturday for restricted
dealings In the several classes Of
bonds which are formally listed and
approved by that institution and
which run into hundreds OF millions
Of dollars. The decision TO resume
operations In this tentative way was
reached today at a largely attended
meeting 81 the governing committee
and Is the outcome Of many weeks OF
agitation on The part Of a majority OF
the exchange members.
In the formal statement announcing
the resumption Is II specifically de-
clnred that all dealings are to be un-
der the supervision OF the special
committee OF five which has exer-
ciscd absolute authority over the al
fairs Of the exchange since July ~
last the day Of It's suspension II Is
Furthermore prescribed that All trans
action are 10 be for cash, thus pre-
Guiding virtually every element OF
speculation or marginal trading. Also
there can be no trading below the
minimum prices authorized by the
committee from time to time. ANY
nfraction Of these regulations VIII, II
Is understood, bring immediate pun
shment upon the offender
lille the trading will partake of an
open character. In that II will be done
ION the floor quotations viii not be
to the ticker service, but
prices will BIO issued at stated times
during the day. This will be sur
prise TO many members who expected
a broader and freer market The
question Of quoting Ibid and asked"
prices OF bonds not actually sold Is
yet TO be determined.
There were rumors of money
pool, amounting TO many millions OF
dollars might be organized to take
care of such firms or individuals as
may need financial assistance under
the proposed reopening. No such
movement Is contemplated so far as
could be learned, but Il IL an accepted
fact that any member OF the exchange
requiring financial assistance viii re-
ceive all reasonable accommodations
from the banks. so far as Is possible
every effort will be made TO mimi
mize foreign selling. though it Is not
clear how this can be done,
The decision OF the stock exchange
TO reopen next Saturday for restricted
dealings IN listed bonds overshadov-ed
all other developments in the financial
district today. ~
Apart from the action. of the ex-
change. the greater case shown by the.
local money market helped to stimu-
late sentiment 20 an unusual degree
Call money was offered IN abundant
quantities at 4 u per cent and ninety
day loans at ga per cent were read
lly effected. Renewals of one ana
two months loans were made at an
average rate OF per cent. There
was a decided increase in the supply
of cash for all manner of accommo-
dations. including mercantile paper.
Financial institutions and bankers
with foreign affiliations reported a
further strengthening OF credits here
by several Of the nations now at war
and this was accentuated by the plac-
ing of additional orders for war ma
terlals. general merchandise and fin
lshed iron and steel. Another advance
In the quoted price OF copper suggest
ed an increased inquiry for that metal.
The entire export movement from
this center for the past week was
somewhat under that of the preced-
ing week, but for the calendar year II
exceeds almost 100000.