The Bridgeport evening farmer., 1914-11-28
NEW YORK EXPERT
 REVIEWS SITUATION IN FINANCIAL WORLD.
Barron Financial News servioea

| ABafTOn E1Qanc1al N6WS <9SENACS-l
 New York. Nov. 2S+-AiI preparations
 for the resumption of bond business
 on the floor of the stock exchange have
 been completed and while today was
 named as the first day, the exchange
 members and bankers at large have
 come to regard next Monday as the real tryout for restricted dealings.
 While at first it was thought mad Visable to permit the bond quotations 1 to go over the official ticker the com mittee of five has moaIned its plans l and full transactions will be announc- ed on the tape. The minimum pricea will be made public on the morning of each day of trading and when occa- sion demands the minimum prices will be reyiaed
 Somebody in Denver persists in talk ing away the control of the Denver & Salt Lake Railroad Company from Newman Erh of New York. At least these are the advices which have been wired on from Denver several times during the past week, but which Mir. Erb vigorously denies. MT. Erh and Frederick H. Prince of Boston headed ] syndicate about two years ago which took over the so-ca1led Moffat road, rehabiIitated it's finances and plan to put a tunnel through the Rocky Noun tainS which would materially shorten the coast to coast haul as we'll as eliminate some dangerous grades. Dim
 
 s1ble the immediate carrying out of the project. Plans intended are that the bore will be made as soon as the financial skies clear.
 | It does not appear that exchange is going to sell off materially just yet. Our maturing obligations cannot be ignored and this must tend to support the market. It was pointed out some weeks ago that exchange would be pegged" at about the gold export point and developments have proved this prediction to be correct. There is reason to believe that exchange will continue to be ~peEged" at the gold export point for some time to come. One thing is certain, there is no possibility of a recurrence of any, thing like the nigh exchange rates witnessed in the past. New York or gold bars at the assay office Tor export purposes and, it is the ready resort to this stock which will keen exchange from soaring above the rate at which it is possible to ship gold to Canada. By reason of an increase in the premium on gold bars 10 i've cents per hundred dollars, the technical gold export point for bars is now raised to 4.8965. It is also to be noted that there is now available large supply or new full weight gold coin, the ex- port point of which is 4 s971 or about D. The last remaining difficulty in the way of the consolidation Of the New York Central with the Lake Shore and the other roads which it now operates bids fair to be cleared up at hearing which the upstate Public Service Commission has set for December 2 at Albany, on the petition for two amend menta to the Commissions order ap- proving the consolidation.
 Henry CIews.)
 The reserve banks made a successful start. and have already created a highly inportant source of relief in case of future emergencies. All things considered the financial situation in New York has marvel1ous1y improved Money is abundant and credit is cas- fer, the demand for commercial pa Der showing steady fnprovenen For etgn exchange is nearer normal than at any time since the war began Our bank reserves have been largely ex- banded by the new system, and both emergency currency and clearing house certificates are being rapidly witdl- drawn. The latter policy should be perststenxly followed in order to check gold exports which will surely follow Ion liberal scae if money becomes too redundant or too cheap. Forum atey our export trade is rallping from the blow Of the war. ana is being further stimulated by heavy war con- our factories busy. Meanwhile i'm ports are comparatively light; go that liberal excess of exports is in pros- peet, which will tend to keen down our foreign obligations and restrain gold shipments. Our own trade aI- ready shows signs Of having turned the corner.