New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-10-25
FINANCIAL RECORD
here AND ABROAD
O.serve Deficit Overcome
NJ Freak in Sterling Ex-
change Rates.

e, reserve Of Clearing
joe ;nstitulions, when h"u ~ ~, 10
Hose ~ eleven successive weeks, has
psTiel M NED out, yesterday SVV ..'li'.
sss showing a surplus OF nearly
.z;1seiIn following the crisis OF lgV'
s 5ote.Vv,' ,,.os made up after similar
ts deaes then international credit
cred VSssotcn down and heavy I'M
isl DO, IN, assisted in Strengthening
-oris q ed reserves. This year, ln
80 rP'.'.,,.b assistance, local insutu-
sss q been giving up gold for bn.
6ers ,e' cc.vmeut Of the obligations OF
cpt y iffS'New York, over S2S,OOO,OOO
Re VN sart 10 Canada and more than
ts w. oS has been paid out on ac-
lilRtSs', be cold pool organized to as
N restoring norman 'N'"'"e'
r,rke,. ;.- solos of unlisted Sc
~. D an and of listed bonds were large n6S
.ai'p.s ssible for reduction OK 81 'VVV'-
. 3 RS - of local institutions during
% p " ~ with a similar decline IN oe-
! he N'' TTsrouchout the country the dl-
'os',, -. voIume of trade is failing to
uiaisll"s If the great amount Of cur
~ .s OUTSTANDING augmented "s ~ !,i -
'siS I, N5rich-Vrccland notes ana loIe
!! " De-e beiuc transferred mere. Cash
1 nes - ;nereascd more than SGOOO,-
S.a.rS5 the reserve increased over S''-
aeeN oTerinrs Of funds during the
4 tIeel ..;oote5 this favorable bank
sees a. Clesr'uc House certificates
da',,l-..D,. eatired snd reconstruction OF
81 INA. ma money market should not be
2 go. F.tsnt as the flow Of currency here
. ~ continue despite some retire
1o.'. - emergency notes. The foreign
PEI. 80 - outlook yesterday was better
l'l'.' be8 been since the war began.
aA .H'.;sbt rate hearings at Washing
N - aid by those who had lis
a W.. .be testimony TO have been far
.. .- favorable TO the roads than had
..-.''.-si from the daily accounts that
" ,.,shed this City. The actual at
III the commission was said 10
-.--. gnfriendlv and 1t appeared de-
- n expeditng the case.
IN bis means progress toward re-
=, 8iFculties chat have stood in
v,v of reopcni0c the Stock Elk
80 Foreign selling must still be
.-.il,s-,5 with. but the amount of this
I,isr put considerably lower than
- rsstbs ago. Prospects of full re-
-,t;on Of trading i'm London have
i.l lass bright because the gov
800 failed 20 agree to the guaran-
=. SOD for, and we must still await
-, here before free trading can be
.-..,isS here. Since Great Britain.
.s-.rsr has done so much I'm other
4 ~, "a protect its citizens against the
go, u the war 10 is not too much
/, ,,ssct that the great losses result
\, fom failure Of foreign customers
i, ilal their obligations in the stock
-,rit win result in some Treasury
,,.i,- In the meantime outlaw bust
,.., n listed stocks, conducted without
-s-,3 70 the rules OF our Stock EX-
,ssrg, calls for some price concessions
q IA preliminary 20 official resumption
i 81 3silngs in securities.
Bakers yesterday sold foreign ex-
3Auu freely, considering that the
sTg z,es through the week were a
I ar q approach 20 permanent normal
gr3aons. Demand sterling closed at
ig drop Of nearly two cents from
fnly and Of five cents IN the week,
4 Rk francs and marks also were
VsiEH