New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-10-27
FINANCIAL RECORD
here AND ABROAD
nemand Sterling Gets I'm
der Export Point-dood
Month for Atchison.

a.-,hsr break In the price Of de-
= ,,.rline yesterday carried ths
mar" lew $500, a decline Of more
~ ESQ cents from Saturdays close
ma" seven cents from the final fig
sn' ,bs week before. II demand
uI' -. 1. kept below the export point
sN." r,,ll no longer be the temptation
''.. - = profit by shipping gold to
80, and selling exchange against IT.
a.. August there have been num-
sD such speculative transactions
IN themselves. but in the Sggre-
NJ making considerable drain on
enI sO's snpplv OF exchange yesterday
tn -, tban sufficient TO meet mar.
vas nv Elements and gave evidence OF
ht Sort selling. A recovery would
sont s,nstural after the violent de-
lel y. tbe last eight days, but with
GIN, " amount OF exchange created
ne ~ and merchandise shipments
" - movement Of cotton and the
nc 49,. ~ the gold pool that VIII be
pnvsuSS sgain,t any too abrupt an ad-
uel.'0 sTrbanre on London may be
yshe. .,ronnd normal levels.
Hg' .s,v'. favorable bank statement,
IA recorded the disappearance OF
u, sefeit in reserve, produced no
- change in money. rates oelng
..sslv discounted Ia the increased
~ he week before. Loans yes
- were made more frequently on a
- rent basis, and renewal or car
,.t per cent wss exceptional. a
N,;ssrable amount OF Clearing House
.sfSstAs is still outstanding. These
800 !. cancelled and emergency cur
~. siminished IL the release Of
1900 oO0 Of reserve money predict
~ he Secretary Of the Treasury as
".ssujt OF the coming installation
W w. Tsdersl Reserve system is not
-.-s.se the credit facilities Of the
49,, hanks 10 on undue extent,
\. ,,,oupeine the establishment Of
"a regional institutions AZ the mid
=. ;,,tssd Of al the end Of November,
80, tbe recommendations of the d.
-, N the banks. the Secretary OF
q. T-.asurv argues that this early
....i,s should be helpful 70 the cotton
...Sr and should aid fnancisl con-
......, h the South and in other parts
y ,Ss eountrv where need has ap-
,,S This may serve 70 allay the
[ ....s,trsnt OF Southern legislators
400 sxtravagant plans for cotton re-
M have failed Of support. The Fed
81 Reserve Board has approved the
-, for cotton financing presented 70
~ he bankers, and now the consent
= Wssterr and Southern institutions
4 /. Ming obtained 70 the stipulationS
s.S.tsS mon BY New York fiuaneiers.
yrrthsr proof Of the great amount OF
,.+or nroAuced this year appears IN
IL Census Bureaus report that on DC.
,sbsr ls there had been ginned upward
4 100000 bales Of cotton, over $780,
g8 more than 40 the same time last
,,,, and within about 10000 of the
srvrss of 1911, when the crop reached
trttord total.
I.ebison's September report, with q
air Of nearly S90O000 in gross and
kB00O in net, made pleasing contrast
vii hose Of some Of the Southern
ines. where failure Of the cotton mar
i fst has resulted in heavy losses. In
| psr; this better showing is due 20 the
/ abundant grain harvestS in the terri
4 serv served bv the Atchison. but COM
/ pfrison with September of 1913 is
rs,Asr Misleading. for in that year
4 poor crops in the Southwest caused the
Fratt earnings TO fall off some $780,
/ 900 IN gross and $4,000 in net below
hose Of the year preceding.