Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1914-08-24
STOCK EXCHANGE
. OPENING HINGES
Z. 0NDEVEL0PMENTs
Should Germany Meet With
Initial ReverSeS Resumption
Of Business Would Be Ex-
pedited, Is Expert Opinion,

rpse,sL copEssrorDanca TO nowNNa JoosNAlJ
New York, Aug. 23.--The subject
Of reopening the stock exchanges is
yet as much a problem as ii was ten
days ago. While there is increasing
demand for the resumption of stool,
exchange facilities, both at home and
abroad, opinion of leading banking
interests is that nothing win be done
until German has met with decisive
initial reverses either upon land or
sea Obviously recurrence of business
would he expedited should any first
defeat to German aspirations occur
upon the water, AS this would natur-
ally clear the way for further and
more definite control OF transatlantic
commerce by English cruisers, thus
opening up the avenues for export
business and enabling the return of
close-to-norma, foreign exchange re-
lations. Speculation as TO the reopen
Ing of exchanges should always take
into confederation the fact that pres
ent coalitions as TO international fl
nance viii continue to rule until some
defr.ite result of the war situation
/ has been attained.
| hdt httth tAtiidliGt iHttftetSs HOW
/ that questions of immediate settle
ment with banks and customers have
been exceptionally well cleared up
d should insist upon the restoration OF
trading facilities is but natural, and II
q is probable that their demands will
now be reinforced by corporation in
4 terests who have begun to feel the eff
fects OF the strained financial situa-
4 ton. In this connection the president
OF one of the country's leading rail-
roads was quoted recently as favorinp
an early reopening of our markets
4 Under proper restrictive conditions
~ VIII be generally agreed upon that
there has been Fan accumulation OF
funds available for investment and
no doubt the restoration of stock ex-
cnange facilities would bring out con-
siderable Of the idle money which
cannot now be easily placed Restric-
Tons under which the stock ex-
1 changes are now permitted a limited
business are not conducive to interest
a ing the investor on any considerable
scale as Is evidenced by the fact that
buyers are not yet as much in force
as the sellers.
Inc Detterment In trade conditions
when II is expected will be brought
apout through the cooperative mea-
sufes taken by the government and
nnanelal and business interests. is
waiting upon the practical application
VI 'pe steps mapped out
Shift Of Trade.
The steel trade is beginning to re-
ileet very clearly some of the cross
currents of trade which many of OIL
industries will encounter II the wal
vVhtlnues. Two weeks ago Ii was put
under the necessity of bidding up
.aplaly Tor ferro manganese, an alloy
~hch II obtains from abroad, large
from Germany. but already new
ouiees OF supply, SO far as this coun-
~ Is concerned are making their
appearance. thus lessening the acute
NESS OF this special trade problem.
neei manufacturers here moreover,
az peglnning to receive orders to fill
n demands which heretofore have been
,uea by other producers. The Pacific
coast is now looking to home steel
makers instead of to those of Europe,
anu orders from England are maxi
ms Their appearance here. In an
nsner direction the shifting from one
nafket to another is lessening the
,aiuship which the present extraord-
naafy conditions impose. Thus it was
E'ported that Japan is likely to take
m'sely Increased supply Of cotton
auih tue American market for the
Eraip"se OF filling demands in the Far
,, qsa which heretofore have been pro-
a'eu Tor by Germany. All will have
snare in the burden of this war.
o n" 40 country Is better placed than
NJ own to reduce its i'll effects to a
lh'hlum so far sd our own interests