The Richmond Virginian. (Richmond, Va.) 1910-1920, 1914-11-01
i RESERVES
Nun GRATIFYING
INCREASE FOR week

New York. Oct 81 How much the
i <xncial situation is changing for the
4 &4ef IL denoted by the bank state
ut published today. The clearing
09N institutiens now report a sur
q ~ reserve OF about sl5,o00,ooo.
Il ofeas st the beginning of October
341lcit of SIS e00, Gee appeared. The
4 4Homent OF cash toward the banks
kon carried on and resulted in a gain
~ about $500. 600. Furthermore.
10nno continued to shrink moderately
sAtkhcugh the decrease seemed TO be
|a&NlMOof wholly accounted for by 1he
G3ther retirement Of circulation.
Altogether. Wall Street felt that a
Nfoot satisfactory week had closed
in most directions fur
o&1ohod strong confirmation of pre-
sUns Indications that great progress
3Ad been made In the direction of re
s44Nring the financial and business
equilibrium. The situation could not
~ better indicated than by sayinE
<l1At there IL now r. feeling that money
- likely to become almost too easy .N
t3kA near future. This opinion obtains
srN9Afding not only the domestic. bu'
the International money market, An
eHeeessve fall In rates might he al
snOet a. difFicult to handle as the ah-
normal advance which occurred three
months ago.
Sign OF German Desperation.
Events in the field of war were not
calculated 10 disturb confidence. The
seftrAnce OF Turkey into the war was
chiefly as a sign of des-
perafion on the part " Germany and
m likely TO bring neutral European
countries into. action on the side of
the allies and 50 make for an abhre-
walton OF the conflict Nor was the
check administered 70 Germany on
roth fronts interpreted as adverse to
the possibilities of an early terrnina-
ZION Of the war.
The financial position abroad was
Substantially better: the situation in
Tho London money market promises M
Sl3fangement following the coming
steemination OF the British morato-
Sf3um. The Bank Of England has
nfxengthened itseIf greatly and the
efcAn. CT its reserve is now double
the Agure to which IT was reduced in
rho hrss week OF August
10 the moratorium Is brought 20 q
sanccesSfui close the way Will be
uaeared for the reopening uf the Lon
don Stock Exchange, which viii IN
turn help TO prepare the stock eA>
change for reopening here. Arrange
nsenta are already making for a re-
sum ptson OF business on the Paris
Bourse
s Investment Confidence REEVES.
investment confidence In this coun
~ n clearly revivine, the market for
~A0Tt-tfme- notes is very active and
f0ng and a broadening business is
ing done In bonds at prices which.
Vile below the level ruling at the
q Of July, represent decided ad-
niece from the depressed range Of a
~ weeks ago.
AZ The export trade which the country
now doing can afford a powerful
&1lnuluA to business.
~ The reopemng OF the Cotton Fx-
change seems TO be In the very near
fixture. The scheme for a banking
pool to furnish loans on cotton makes
ut faGgard headway, because It is
evident that with the future market
Tor cotton restored the price OF the
ukaple and the credit to be granted
ssspn n ara matters which will take care
NH thomsefves
~ the beginning of the week ster-
! 1fnx exchange fell sharply and held
shfteFwArd around the level OF $4.90.
hlch II 20 near a normal figure as
Specifically to eliminate any further
I Far respecting the countrys foreign
indebtedness. London bankers no
IoneeT have any doubt about our fu-
InHA and have shown the greatest
readiness to extend obligations and
accept new ones.
Is@ Grain Featurciess-
Chicago, Oct. sf.--The grain mar
zkef today was dull and featureless,
Prices huctuated within a narrow
range and closed but little changed
from yesterdays figures