Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1919-08-15

New York. Aug. I5.-The New York
Evening Suns financial review this
afternoon is as follows;
Today's stock market was unsettled
despite the fact that news Developments
over night were favorable scarcely with
ont qualification. The vigorous manner
in which the attorney general is going
after profiteers, the virtual settlement
of the shopmPn's strike, the more
tolerant attitude Of the labor leaders
and what looks like the unmourned de-
mise of the Plumb plan. as well as the
favor with which the Warfeld plan
seems to have been regarded of late,
gaining immeasurably by contrast with
the fantastic scheme Of the brother
hoods, all were conducive to distinctly
better feeling in the street.
That this sentiment was not more
strikingly reflected in the securities
market was traceable to the circum-
stance tlAI lbinbTlO" Win " q A'''''''N'
for the exchange and accordingly price
movements were largely governed by
desire among individual traders and
commission houses alike to reduce com
mitments. whether long or short, against
nossibIe events during 'the extended
week end.
Trading was very light and was quite
devoid of feature of more than passing
interest.
Money rates were again easy, call
loans renewing at and Az per cent.
and later receding to 3l2 and 4 per
cent. Money was, indeed, in plentiful
supply, but only for the moment; that
is to say, it is felt that it can be used
only in a way to insure its speedy avail
ability almost at moment S notice.
The volume in which banks in this
part of the Federal Reserve district sub
scribed to the Series 4 ISSUE of 1920
treasury certificates of Indebtedness,
the total having exceeded S121 900 900
out of the districts total of something
more than $192. 900 900. illustrates,
/ pointedly, what calls have been and
may be made on the national banks.
| There will shortly be a heavy over
flow of funds with which to move crops.
although not as heavy as was estimated
month or two back, because of crop
deterioration. 1t will nevertheless be
sufficiently heavy. taken in conjunction
with the other burdens which the in =
stitutions must face. in the way OF
foreign credits, the financing of our
foreign trades and of industrial and
commercial development at home.
From the outset, price flucmationl
were decidedly mixed. The STANDARD
shares. as a rule, did very well. Cru
chile Steel and American Car an,
Foundry were strong. and the oil grou
was bid up moderately, particularly tn
Mexican group. because of the an
preaching time for a showdown betweel
Washington and Carranza. Condition
in Mexico cannot be worse for us, an
they might be n lot better. American
Beet Sugar. American Sumatra Tobacc
and Brooklyn Rapid Transit were reac
tonary to a degree.
There was an improved tone in III
rail department, although those issue
were, not wholly consistent as to sur
face movements.
''iuSSlHH uuSeJlement marked th
: closing hour. Here and there a stron
issue stood out. Cuban American Snea
was one of these, being pushed up 2
points to 250 on talk of a coming stor
, dividend. Continental Can and Amer
ican Woolen were others. Steel bovere
around 102 and Baldwin Locomotiv
: around l07. War bonds were soft
. New low records for francs. lire m
r marks featured the foreign exchanp
market. francs being quoted as low a
100 francs to the dollar, lire 9.19 lin
to the dollar and marks 495 cents III
4 mark. Sterling bills were down 3 cent
! to $4.27A, nor were pesetas and krone
. immune from the general weakness. |
normal times the mark was quoted ,
I much in American currency for
r marks, par being 95.2 cents for mark
I Now, however, the quotation is
terms of the exchange value of the sin
{ gle mark and this will be continued unit
Z new credit arrangements have bee
made with Germany.
There was an improved tone in cor
aud oats Cotton was unsettled with
/