Tulsa daily world. [volume] (Tulsa, Indian Territory [Okla.]) 1905-1919, 1915-02-02

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the ensuing year would amply take
care of cotton values.
In talking with friends engaged In
other lines than banking Mr. Mason
found similar views oppressed
j. g. white OF j. O. White & Coz
Inc. who are among the largest Of
the engineering and construction
companies Of the world, expressed
tho belief that thcro was no occa-
sion to fear for the future OF Amori-
can Industries George w Bacon
OF Ford. Bacon " Davis engineers
and contractors, who have charge OF
the operations of a great number Of
electrical railway systems throughout
tho oast and middle west was Of the
same opinion, and stated that so far
as their line OF business was con-
cerued the prospects were good.
Othcr Figures Show.
Speaking OF the general situation
yesterday Mr. Mason said:
There arc many other features Of
the recovery which are apparent For
example tho port receipts show that
the trade IN chemicals, which almost
ceased at the beginning Of the war,
Z
inability 10 secure dye stuis which
threatened TO close many American
PIahs requiring such materlals' mas
N.Y. '9i,r, "a '"'6V ", '1,o ost,g, t,tS,,
nc W ,''
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..,.,,,,.'tias nu.rod nNrnnd NM
tor 80 s,ct nrlrrs are gor ina most
,a,t btrbn, hon, thau tba,, u,oro In
Ink. Lcfnra tho ,,,,,, hegan r,hIs rn.
snrf is ,ttrihutohin IN several enurcns
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mn Tho n,arnjoI s,tr,tIor ,h,nad
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lrl-y r,eIire, e,,Lgid,d Another a. thn
s,ci 40, A1,,,.ri,',,, I..,l,a,,' 's,,Lecrihnd
and s',UnIind bnndrcd milItnn dollars
ir Okla tn t,I,e r,ra af tba nayncni
nf S.y' vorl, Iit,, L,nd.. o,ynad In nm
,.nn,. Iu,t urnLaIl,, thn runst suhstop-
tiaI r,.,g,,, ~ nIi ~ tbc nrIic,- adnnted
NV tba D,nt Of Fnpiond tn lend
aooinst bnnds issuod on tho English
,y,,. Io,ns nroctir1IIy mn IN tbeir nor
y,iuc mis- has made il unnecessary
~ i,,,,,lt,h t,,,',tors 4, coll tbniy
-, ,,,,,,i,,.,,, sao,,rI,Ias H., nrde, to suh-
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i'
Reduce Speculation
"That the stock and cotton OK
changes are determined that spccula-
tIon shall be reduced to minimum
FOR the present, and arc determined to
prevent any raids ON the market, is
shown hy tho fact that short sales of
securities on the stock exchange are
closely controlled and on the cotton
exchange the commissions have been
raised from S15 nor hundred bales to
$2b per hundred bales. thus making
trading so expensive that it should be
limited practically To bona hde trans
actions This is nm entirely new atti-
tndc for the cotton exchange as here
tofore every device has been sane
tICned bv n To allow spcculatiye trad
mo This. exchange has had n system
az "riruIne ONT contracts" offsetting
,urcbosns End saIes and taking down
margins which had made II one Of
the most speculative mark in the
country,
The New York banks have been
equally dlligent In trying to help the
situation Not only did they raise
one hundred million dollars In gold
to help pay for New York city bonds
held abroad, but they raised an equal
amount TO control the rising rate OF
foreign exchange. In addition to
this they are now adopting what has
long been one of the most beneficial
features OF foreign banking, namely
the purchasing of 'acceptances.
Abroad II has always been possible
for a merchant or manufacturer to
accept bills Of exchange payable at a
future date and to secure his bankers
guaranty OF payment after which the
bills could be negotiated as 'accep-
tauces on extremely favorable interest
rates one Of the largest New York
banks, as well as one Of the largest
Chicago banks has now entered upon
this business on large scale, and
each of these banks at the first of
the year showed nearly five million
dollars of such acccptaucCs. II is cX-
pected that this phase of banking as
sistanCo will develop rapidly and
win provide much relief
Dcncnd I-pon Cron,
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