The Richmond Virginian. (Richmond, Va.) 1910-1920, 1914-12-06
No LONGER FEAR
LIQUIDATION WAVE
RESUMPTION OF OPEN TRADING IN
STOCKS WILL NOT CAUSE
SLUMP IN PRICES.
BORROWING EXPANDS
NEW yoHk BANKS HAVE SURPLUS
HFsER.E IN EXCESS on SEQ
paa aso--A1.L CHANGES FOR
THE BETTER.

Nsx york. Dec adjudication of
the aefusl figures of condition Of the
sseAsiug a"a2e banking institutions
wag ~s%,:-asl today This was the
resa,t e. re retirement OF clearing
ho.sa eest bcases. and was a further
sivri-ca7t mark of the change for
10 better wsIeh has been effected IN
r~sncta. ta1 attions.
To- r,es wide difference be
srgeea tre actual and average figures,
showing afzt the monetary activities
~ Wal. Street were increasing to-
val the week lend, a development
which night have been inferred from
The urosr. ssive downward move mcu'
- terms ter all Kinds of acconmo-
ia dor The bank statement in its
pre- SEPT form has to be considered
WITH very little regard for returns
before the Federal Reserve system
was established and reserve require
ments wars lowered, hut the position
odsy - 20 strong that changes in
items - - returns cannot be spoken
~ IS 5seet4ae impairment, even
hoagE :-e. show losses IN reserve.
n SURPLUS reserve Of the clearing
34oiss. INSTITUTIONS decreased sl1.Ti0.-
200. f,3e -ss1G. part OF which WAS a
direct as i3Ss from the vaults Of
he bars trHrnselveg. Still the sUT-
Plus rsse~Ys = rot fsr fyem SEQ Geo.
Rs2 sfz@ shS margin IF banking
gss"c"0t GifnueS excessive. The
9pafs6e - reserves was tne Obvious
3a.seD4ey Il tie progressive Will
travail emergency currency aad
ne pag1aeg. 81 war taxes ~ ne gov
FrnmeTt. Tie decrease In cifCala-
.oE reported was about $500, 600,
s'heer Aoney Promotes borrowing.
4 lo4D expansion of s22. SOC 600
'est~iss 10 9re attention than any
1sng eiss n the showing. The i'm
pilaa an =. lear that borrowing de-
sEnnf being promoted by the
skea pong Of credit, Furthermore,
4. IS i4ssanahle inference ma the
hfsA%ar ~. of business IN securities
=a5 the comparative firmness that Sc
cttrity prices are displaying. are en-
an,ins The banks to find some employ
s33ent for tie pletho OF lending pow
- which they possess.
Announce ment was made by the
stock Exchange committee of five to-
ssv that no plan was ready for 1le
RES mptan OF open trading in stocks
1s las bee" manifest for several days
however. that both banking inter-
Asts anG ,he Stock Exchange author,-
t.eE were moving toward "a more COM
psete festefation Of the organized So.
4s44bifs f4-d +-fst4 anu NaI STREE "
eool-i@.g yo~ "a opening Of the stock
list t. 4 ding on the floor 'ls tls
mex few DAYS
Pa'a.e Dealing In Partial List.
IA aks - the departure In the ii e
reef.>n If published prices for stock
de- % through the Stock Exchange
clearing house, tho removal Of trad.
isc &c fs1e floor will not be such a
seeia forward az was the opening or
tho isand department Moreover Il
Is believed that in order not to u.n-
aev ak too much in the way of ox-
pertinent even though minimum price
restrictions are imposed the list Of
sioChs - y" dealt in openly will he
onty partial and at least exclude "A
eons dera ele number. although not ali
~ the scaled International is-
stpA
~ gujacance Of all this is that
20. ~ are no longer felt Of a
A1 VAC Of liquidation.