The Bridgeport evening farmer., 1914-09-16
NEW YORK EXPERT
 REVIEWS SITUATION IN FINANCIAL WORLD
Wall Street Regards National Bank Call As Indicative of Change For Better in Finan- cial AffairS-StOck Market Resumption of Business May Not Be Far Off.

(The Barron Financial News Service.)
 New york Sept. 16-Wal1 Street re-, gards the national bank call for con dition as of September 12 as an aus pdcious event, indicating that the f1nan- ciaI situation in the past fortnight or so has undergone definite improve
 ment. On the outbreak of the war treasury officials lost no time in thor oughly acquainting themselves with the position of the banks, and that it was deemedI necessary to defer the call only about a month beyond the period it would have been issued un-
 der normal conditions is regarded as significant. The previous call re-
 quested condition as Of June 30 and the corresponding call of last year was August g.
 There is more optimism in financial circles now than at any time since
 the 4losing of the Stock Exchange, and the belief is spreading that the. sit aatioi is gradually shaping itseh to a poi 1t where the resumption of Stock Exch ange business can be undertaken, with safety The matter may be
 said to rest entirely with the bank ing interests. Nobody knows how Is pending, but whatever it's extent 1t must be absorbed in orderly way and at the ughtest possible sacrid flee to holders. To accomplish this strong. financial assis stance will have to be Iaccordede those who are willing to buy the securities. At some of the recent conferences between the Stock ESk-a
 change and Bankers comm itteess the formation of a pool to support the market was discussed, and step of this kind will probably be taken before. a time Is set for the reopening of the Exchange.
 With the announcement that $5, oO0,- GOO was to be shipped to Canada by the syndicata managers of New York lcftys new bond issue. it appears that the recent ban on gold exports has been ren1oved Tt may be expected
 that from now on further engageuents l of gold to Canada will be announced on this account The local banks are therefore entering into another stage looking to the rehabilitation of the IL nanciaI situation. which will tax then resources. The first shock of the crisis compelled them to draw heavily upon their resources, so much so that they showed a deficit If $z8 GOO coo They have since reduced the deficit 10 s35. .o00 .0oo. but 1t is to be feared l withdrawals that are now likely to
 be- made to Canada during the next
 few weeks there will be little oppol- t1nfty to fuT4F CT restore bank reserves
 if the deficit Is not actually increased
 again.
 ! 1 last the Ford Motor Co. turned out E221Ss3 cars. compared with about 1852 lo00 cars for the samee period of 1913.
 an increase Of 36O cars or 20 per |cent The fiscal year ends septem-
 Der and 1t is believed the output I will cross the 2250o0 mark
 s. U. eSehoonmake has been elected I 8 director of the American Locomotive tcompany He will be elected chair man Of the board at the directors
 meeting to be held in the near fu- tt1re MT SchoonmaKers entry. Into l the management of the company is ! expected to do much to Ae-establish peace between the company and some of the minority stockholders, who have |been seeking a change of manag ement for some time. Other changes in the 4 fdirectorate are expected, which 1t Is believed twill mean some new policies
 in the management of the company,s I affairs. MT. Schoonmaker was 2 df- Erector of the American Loromotive Ecompany from the time or it's organ
 ization up to 1907, in which year he resigned.
 Owners of pig iron furnaces in east tern Pennsylvania will spend $1 ,oOO- II 900 to modernize their plans in am
 ticipation Of a healthy expansion in business when industrial condition Il begin to improve.