New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-08-16
FINANCIAL RECORD
HERE And ABROAD
Quiet Day in Financial
DiStriCt-BankS' Loans
Increase.

So Far as matters of financial inter-
est were concerned, yesterday IN Wall
Street might quite as we'll have been
a Sunday or one Of those holidays
when sll the great buildings arc shut
up and the district is deserted except
by csretakers and infrequent police
men. There was activity OF sort, but
even routine business was greatly di-
minished in the face OF war, midsum-
mer dulness and a closed Stock IN
change.
For the time being the sphere of
activities has shifted to Washington
The Secretary Of the Treasury Is busy
trying to help bankers to pay our Tor
eign debts, and Congress is consider
ing its plans for getting mercantile
marine under the American flag and
for protecting the growers of grain
and cotton. The government has IN
its power 70 do what the efforts OF
private citizens, individually and IN
combination, have found beyond them.
While IL is making up its mind what
form the measures of relief shall take,
but little can be done. Like the war
abroad, business and finance wait un-
I'll great forces can be mobihzed ana
brought into position.
The bank statement and the clear
inCs OF the banks throughout the
United States for the week just con-
Guided were about the only items of
interest in a bare budget The first
named. covering only the average con-
dition OF clearing house institutions
and giving no indication Of where they
stood at the close Of business FRIDAY,
showed the deficit in reserves to have
increased 10 S47.992, 250-a result not
wholly unexpected. For reasons not
Together plain. in view Of the reports
Snrins the week Of the unwillingness
~ the banks 10 increase their accom-
nodstions 20 borrowers, loans cameo
e.s42. 600 There was cash loss OF
&c So. 600, or about what was expected
The bank elearings Of the week
showed plainly how serious an erect
the war in Europe is having upon tne
volume of business being done IN TINS
country. being no less than S37l ,oOO,OOO
smaller than those Of week ago. IL
must have been plain before now thhU
those who could see fortnight ago
nothing but great prosperity lot TINS
country in the event OF general bu-
yoDesn war were deceived by their own
ontjmism, but through figures IKE
these the extent Of their error IS mace
rrsphic. OF course, there IS oounu u
he a certain Offset TO the loss lor
time OF established markets and Gus
toners, and the early weeks OF the War
are likely 70 tell more severely upon
American business than those "hlcn
shall find new enterprises uhoer Nay
ana new trade routes being trANerseo'
Nevertheless. Il must be evident that
q r,isfortune for the rest Of the evil
"a World takes much labor and in
renuitv TO translate into pehehV iOi
the United States. x.,
Wssbinpton brought no information as
~ tbe Governments attitude on the
,,ronosed loan to France. II is not eX,
,,srted that the State Department VIII
i've a definite indication OF now u
staods on the question, and the BANK
50 will probably have TO decide wnolIy
h., themselves what they will do ABOUT
- There is no intention. It has oeen
o,,,Iained. TO ship gold abroad IN any
event hut merely to establish IN Ihi9
o.,,-,+ry stable credit upon when
Fronce may draw ia payment tor sucn
,,acessities as foodsfuffs. The whoie
--,s.tcr hinges on whether the grant
no of a loan will be 10 violate heu-
.rsli+v the United States cannot DC Wv
careful 70 preserve. Inc pahhlhs 49,
has explained that it has commltIeG1
itself to nothing, and will be goVeIhe.u
i'm any decision it may make Dy MnaV
ever opinion the State Depart -l'.i. :
chooses to give forth. Ihere o t5at
not to be any apprehension over enSr n
M onlv markets that were open
,.etterdsy-the grain msrkets-refeet-
- J;souiot 20 forecasts from Eu-
80 that the war was likely. TO be
iopS,eontinued and without decisive
action for some time 20 come, by re-
Sording a drop Of from 2 70 PA cents
a bushel in wheat. There was De
Cline Of about a cent a bushel IN corn
but as that is a crop largely con
sumed within the United States, tne
movement had no unusual significance