The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-11-15
FINANCIAL NEWS
AND COMMENT
Last Bank Statement Published
Under Old Con-
ditions.
WALL. STREET OPTIMISTIC

what interest attached to yesterdays
h... ..it-ment was derived chiefly from
r... t,.' that i was the last to be made
ua... tl. oil form. The opening OF the
Federal reserve banks with the shifting
a. ..,.,t, and loans involved and I've
..u.r..r u. the clearing house association
.,..... .uurrmeu,s 80 match the new
..s.. .. a..,u. established render the last
v,... ..lufr more or less academic.
LOFTS decreased about sli.5oo, 900. pre-
,Y..., t.prrscrtiug the retirement OF
a.. .... lug., certificates and emergency
,,.,.. \ sm11 gain IN deposits and
.....-r t.s OF about $500. 600. rejecting
t. a.H shipments iu the first half OF
-.. v.... resulted .u reduction OF about
s, ... n the surplus reserve. How
etc.,. .. another week the reduced reserve
,a-.....1,S ,Nnctod 10y law will result
J.. -. .r. the banks a large actual in
,,..-. .. f.' excess of reserve holdings.
T.a.. was NOT much else in the day..
rse. a.t.. calls FOR comment Securi-
t.e l.,..v,i sustained strength. Satur-
,.. .. always an or day in the domestic
money wgr.r'. but foreign exchange was
... .. 4 .i.'u,r rally an around. Prob
co.,. '.r ".,D end upturn IN foreign
.. .... WIS nothing moro than a nat
w.. r,tuund from the violence OF the
g.. ..v.,. decline.
T banking community read with
a,..t.- ...,..f .ns virCumstautlI. dcS
r....., from Washington which purpurted
.. ...... NcNdoo-paish plau for
Tt... ..l'.H'c" OF Sl0u.001.oOU credit
... h.I..r- To use In foreign exchange
on'i The last suggestion relative
o. '.. .H. 'uus conference between our
T.,.-.r Hs1 tho British ENchrquer seems
a- t'...t t- a,l Of It's predecessors. - No
credit Lu.'tulcr Of the Kind IN called
.l' wiz. tH. i'up.o'0,uU0 gold fund has
N.,n ura .ffoa,iy rendered supcrnuous
b. OIL. ..l.-. of sterling remittance in
..,r.... FOO Our foreign trade movement.
,.r .....s. of Efforts to discharge Amcri-
c., n.. rs~- debts abroad and the glut
o. r.. in London. which has made the
I... bankers more anxious to continu.
c-f.- fp american business than TO
T.-- t..r withdrawal.
T.. extent 10 which the international
s.r. pos ton has mn roved is clearly
show. .. tH, ease with which 'hc man
ara'- .' 'ID N.w York city loan operstt ion
a......H Exchange to cancel SIS 600. 600
OIL. cty's maturing obligations in
Europe :. was the disclosure OF this
v..s directly caused the latest general
tgor u sNchunEc
N. Wall Street business closed yes
'sr... tI- sentiment WIKI which the APP
r~.t week was regarded was more
'..H .'i. than at any time since the
oa'HU'. t of tl- war. The opening OF
'.- = '"r.I r-~erN" banks on Monday
rt' u.ru preceded by gratifying svi-
i.rr. .H.t fh" now system IL going TO
s-.. handled and VII AFFORD great
'.rt-. .t financial strcugth Tor the
'ru-..I 'ou of American business re-
'.'.fs. rhe transition to the new system
.nrtr.nf't going 20 be accomplished
without. trE disturbance.
To- anticipation Of the new financial
#.''.- and IN response also To the
r.'isrurut Of tho International money
r.".'. domestic money conditions have
come m'reaslngly comfortable. Lead
~ trUt,-s have marked the cali loan
1 .r"r Us obtaiudbie at per cent. Com
r.r'l paper is established on a Big per
'.r' minimum. but bankers acCeptances
40 much lower.
TIN, rsopening Of tho cotton exchanges
".H l-o occur simultaneously with tho
% .s"r zion OF the Federal reserve bank
r. system. This means a full restora-
'... ~ all the machinery Of American
hH. Ness except in the department Of the
~'g.. Exchange. and Wall Street has
hesU" 'o feel that Stock Exchange re-
on"0.r- cannot DC long delayed. The re-
royal of 'hC emh ,rgo on dealings In UNI
s'.1 SHARES and the commencement OF
unrestricted dealings In bonds, with a
oros .. against foreign transactions, are
7om...- which herald the solution or the
problem of stock Exchange resumption