| Show SECURITIES MAY MAYBE J BE THROWN AT US Limit About Reached Reach d in the th Importation of Gold From the Old World CROPS MOVING TO MARKET SOME SIGNS OF ANXIETY AP APPARENT APPARENT APPARENT PARENT ABROAD AB OAD 1 New York Nov 10 The progress of last week was a steady Improvement In financial conditions in New York rork which was reflected in strong closing quotations In the time stock market When the crisis arrived In New York Amer American AmerIcan Amerlean ican lean obligations to foreign lenders were at an unusual ebb the London and Paris money mon y markets having been exercising ng severe discrimination against American borrowers for f r several months past This policy was prompt prompted ed d by the recollection of the troubles precipitated on foreign money markets last fall by heavy American borrow borrowings borrowIngs borrowings ings attributed by foreign critics to speculative operations in American and which gold shipments to New NewYork NewYork NewYork York at the time of the autumnal strain in London and Paris This year foreign lenders have hesitated to make even the usual advances In anticipation tion of the export of our merchandise and the consequence consequence is that there are few maturing obligations of American borrowers now falling due to offset the debit accruing for the payment for commodities we are exporting Foreign Crops Short The shortage of foreign crops and an anthe the time low level leel to which copper supplies In Europe had been allowed to fall leave alternative no to the buying of our commodities and the low level of our securities tempted investment pur purchases purchases purchases chases of these also for foreign ac account account account count American bankers who have purchased bills of exchange against these exports have their choice of commanding payment in gold and have hae exercised the choice But with the en engagements engagements engagements of gold already accrued now rising above and th the effect of relaxation manifest from the time supplies already received New York bankers are beginning to canvass the desirability of more lenient exercise of their control over the gold supplies The perturbation of foreign markets mark ts Is keenly manifested mani Sted and signs are seen of ofa a disposition to meet American ex cx exactions exactions actions by free offerings of American se to the New York market The reflex renex action a tion on American affair that tl at may result from pushing demands I for more gold is coining coming into growing consideration i Demand for Currency I Interior requirements for currency have continued heavy heay and every re resource resource resource source has been sought to meet them and to assist thus In the movement of crops and the keeping open of the currents of commercial activity vital as these processes process are to the working out of the situation and the facilitating facilitatIng ing of liquidation The success to be obtained In this now commands the almost undivided attention of the financial world The contraction contract m of credit must work some hardship and ald damage but the hope Is maintained that this may be limited and conditions placed early on the road to Increased number and liabilities of failures fall In prices of commodities les and reduction of forces of labor there also have been The rec record record record ord of failures thus thug far and the fall n prices of commodities find explanation in overextension In new enterprises and a price inflation due in some son e cases to withholding of stocks which must now come to market at a disadvantage disadvantage disadvantage tage |
