New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-09-05
lNCIAL RECORD
RE And ABROAD
...ters to Aid City with
.to0OOO,OOO Loan-Drop
Il Foreign Exchange.

,.,o consideration plan for
AlieI irLiSystions Of the City OF New
s,.Sns vOI rssture in Europe between
i5lA Y.rnary has been agreed
Nv leading bankers mere, Mno
~ teit that to preserve A,neI van
~. broad the municipality 5 notes
54a' u Maid promptly and wlthouS
~, ,aD All the banks IN TINS cry
.sked 70 take part IN SlVV'-
" ~ y Ian At s per cent interest. II
aavsv 49, some gold will be Shipped
l,es,.i. believed that the moral erect
lsi y = rrsst fund placed at the city S
q ph LII be seen in lower exchange
t5losa.t will make little actual trans
raii. - necessary IL Is prooaoie
81 y new obligations to be ISSUED
~ - for one, two and three years;
", ~ f.Seral authorities, fortunately
Ihs Ne able to meet their hnan-
- S.sds without calling on Ihe imam.
for assistance. The freslu'h'
80 .nrealed to Congress TOT enact
h,s "a "a tax measures 70 yield at once
~. steady addition TO treasury
8 ss.'., r,onnting 10 SlO0,0c0.oOO q year
~, = rssponse is expected, and the
4 ~; -,Dosed will without doubt be
80 cheerfully in realization thaS
~ 5;.ts occasion was in the clrcum-
A-.s' bsvond this country'S ability 10
$50 7, ;s true that national finances
Ue11i have REQUIRED readiustment be
so.i1 ,nc since the income tax has
80 10 bring lu anywhere near
..,asgh 10 make up for the loss oue %
'..s,rsd tariff rates. The present 'het-
80 however, with decrease IN IN
$3.50 ..toI.s in August OF over SlV'ooV'o9J
-, last year, has brought matters TO
hesd. ,s;sorss;rg with
FsSsrsl Reserve Board in Wash
s y. The extent Of our international
.,f~.t;ons. exchange rates here con-
$3.50 their decline, demand sterling
49,. a. low as 5.OO5O and cables TO
WA EXPORTS Of wheat and flour
49, ee.s' ts;s country and Canada reached
"a totsl for the week OF over y
-,6ssa bushels. greater even than IN
1900 week OF July. when shipments
ssr' being FASTENED to reach the otheF
IA. before war broke out. NOT all OF
- Il is true, creates exchange Tor
a. market, but the balance OF trade
...;.st MS is. Of course, reduced by
- srports. Wheat prices yesterday
.-in advanced sharply to new hlgl
~, an the crop. Corn was firm and
80 were higher on export buying.
Commercial reviews continued to re.
~ irregularity with movement OF
~nodities fairly well maintained.
R-s;rsss In the West Is fair. but the
80 continues depressed because o.
4. uncertainty over cotton. The lum
n trade is particularly unfavora6ly
1900 by withdrawal Of foreign de-
M Total bank clearings for the
- are still abnormally small, but
.-s,ide of New York City decreases are
IA erest. and some cities report gains;
s-eSs railroad earnings are low, ana
nshssize the need Of some rellef 10
iFoW the Presidents conference with
rilrosd men next week
Tpown movements Of currency point
/, mailer gain from the interior by
i,,,l hanks. the indicated increase this
ri smouating TO only about s2,OOO'-
Ee Some further reduction OF loans
n Stock Exchange collateral is re-
p,rted as the result of payments by
customers of Stock Exchange houses,
but to-day's Clearing House statement
NAV show that this has been largely
oFsst by accommodation granted TO
k,gfnere mon