The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-11-03
FINANCIAL NEWS
q AND COMMENT
Wall Street interest in the Ma
tonal Election To-
day.
FOREIGN EXCHANGE FIRM

Today. cisctione ala nor enter 'FRONT.'
nently into financial discussion yesteriay
Tho point Is worth making. for \ national
vote has not within present recollection
seemed TO be OF 20 little outward interest 70
the Wall Street community. As n matter
Of fact bankers and business men are far
from apathetlc toward the outcome OF the
ballotlns for Congressman and Senators
and for such other officers OF Government
a. Will indicate the tendency OF public
opinion
The European war dominates all other
considerations now. but II should not be
forgotten that before the war the domes-
tic political programme carried out or In
prospect was "A matter OF much financial
and commercial concern. Although the
Administration at Washington has lately
declared its purpose to devote energies
to what may be called constructive meas
ures In contrast with some OF those which
have been put through. there IL a good
deal OF desire in business circles 10 know
whether or not and 10 what extent CON
sentative Views are beginning 10 prevail
in the electorate over the subscription OF
recent years to radical policies SO re-
gnrded the election may lend itself 70 an
Interpretation bound TO bs reflected IN
volumes and values
The news over tho weel, end relative
20 Turkeys entrance into the war did
not seem 20 change tho military situation
materially. General uprisings throughout
tho Moslem world might mako trouble,
but Europe u providing and promises to
provide all the trouble which any one
cares TO think about. And right here II
might be noted also mat some apprehen-
sion Il felt that the country's growing eI-
port trade movement may be seriously
checked BY me efforts under way TO make
the conflict more desperate both for Eu-
ropean belliSerent and neutral countries.
The rising rates for MARINE insurance tho
controversies over contraband, all suggest
that matters may be In train for limiting
very materially the shipment OF goods.
At the moment this ms no; evoked any
response from the various markets, al
though foreign exchange continued firm
and "a .!;tle higher for sterling than at the
end OF las week. with demand quoted
around 49Ols and cables az 4olis. Trade
figures show that goods and merchandise
and commodities are going abroad IN an
urgent fashion. accelerated perhaps by
tho credit loans which fore gn Govern
mcnts have been negotiating with our
bankers.
on partial returns W shing on an
nouuces TIA; an export lance Of more
than S33. coo, 900 accrued Ia October. or
fully twice the export excess In September.
Cotton shipments are IN rising volume.
tho movement being stimulated by the ar
rangements that arc almost completed
for restoring the regular market, in which
prices made IN q normal way serve as
basis for credit operations for which no
artificial substitute can ne provided. The
wheat marke: answered 20 the export
demand by making further advance, the
May option closing a cent higher. and
corn and oats were firm.
London advlces were distinctly encour-
aging. The approaching termination %
the British moratorium on Wednesday
was not anticipat ted by any disturbance In
the money market What was OF partlcu-
lar Interest to Wall street was tho news
OF plans to prepare FOR reopening OF
the stock Exchange Il would appear
that the British Government Is again
going 10 put It's credit behind business
and financial positions nv i~dorsl0g agree
mcnts with the Bank ~ England Cor tho
extension OF stock exchange loans.
Domestic money conditions were com
Portable The surplus reserve ~ ;iS.-
O0O. 900 reported ny the Clearing House in
stltut ons and tho Increasing retlremen;
Of emergency currency are all signific mt
- further impending changes for the bet
ter unless on account Il tho war there
should be some new arrangement OF the
International money market.
A Hymptom Of tho Improvement which
has been going on IN tho investment mar
ket was the announcement that tne SNndl-
cate formed last spring 10 underwrits
$40 600 600 OF New York Central re-
funding and improvement; AZ per cent
bonds would he dissolved on November
IL a month ago the syndicate was eE-
tended. II wns understood then that
about Sc OOO. 900 II the bonds remained
to be sold Apparently the. managers
feel that mo syndicate members can
handle mo remainder Of the Issue salts
"a nm fbelr own account