The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1914-08-14
WORK or ADJUSTMENTS
IS PROCEEDING RAPIDLY
Over so Per Cent OF Outstanding
Open Business When Stock
Exchange Closed Settled.
DONE WITHOUT AID or BANKS
Showing Is Remarkable, and Accom-
plishment Is Possible Only by
Sound Position of Stock Brokers.
Cheerful Tone Prevails.
ny nRoADAN WALL.

Now pTh AUGUST 40.-.N'1lciiCdu toccl
sugar. which closed al 10 OF July 30. sold
to-day at q. and bidders were not All sup
piled II should not br construed from tho
stock Exchange committee announcement
that trades only made on basis OF July -
prices that bidders may 10; trade above
these figures. The committee merely in
tended to make the july 80 prices the mini
over ~ per cent Of outstanding open bust
ness when tho stock Exchange closed has
committee more ,han So cl5olo OF this bust
ness has been adjusted between tho mem
The AID OF the banks This is a remarkable
showing. anu could only he accomplished by
rhe wcrk OF clearing up differences pro-
stresses steadily. although the adjustments
become slower aS tho days wear on.
ono OF the large odd lot houses reports
that $; per cen, of all open trades has been
these arc being settled through tho clearing
house 1,, whcrcyer possible ,,,,or,,, ro,,soo
to-day TO divuiSe any information as 10 the
The committee of tive further ruled that
dealings IN bonds suhjec; TO tho same
restrictons rs govern stock transactions.
Brooklyn Rapid Transi, Is favoritc, al
iaorsh there Is a fair inquiry for Interior
rho opinion Is expressed that the Inter
ns sy sIF sioc GH ,he
dend basis in the fail. Earnings continue
nnaftected by the war news. Then toe. the
shares did not enjoy an international mar
ke;, and no selling pressure Is expected from
Monsy is not senersly aysilahls in m, m,
the bankers werc again busy throughout
the day endeavoring to devise some method
~ d!schnrginE our obligations abroad with
on, the shipment OF gold to Canada or Lon
New York Central and numerous other
smaller ooligaiions shorty fa!iins ane ao VII ldi
have TO be reckoned with and some s'o.o COZ
OF New York city warrants sold abroad and
pEynhtn IT. sterling be
In the meantime central and South Amer
and exporters arc trying TO catch the ears
of tho bankers. that their claims may he
that Bra1ii i sending iicct of steamers 10
New York for part of the trade that he
lcnEcd 10 Europe barely a month ago
vailed III stock Exchange circles to-day.
Brokers arc bearing their trials phiicsophi-
Caliy.
New York. August l3.-Thc feature ot the
DAY III financial circles was further attcn-
ton given IN banking interests respecting
methods 10 bring abo:t resumption Of for
mcnt the national bank act. permitting
tho $40 Of bank notes as reserves, are out :
the clearing house committee has declined
10 consider such an cNpedient seems to have
An interesting Development wos contained
in tho announcement that \. r. Morgan ~
Co. has sounded tho Federal government
regarding tho adNisa bility OF large loan
10 France. No Information on this subject
Was obtainahic at the offices OF the bank
crs. and IL could not he learned what pros
meets there were that tho loan would he
placed. No information could be obtained
from the principal International banking
icus FOR which, II was announced At Wash
inEton,. were under way,
in Some instances to-day. u, most renewals
were at per cent.