Show Straws Are Numerous Numero S By Ira C. C Tichenor Tichenor- r I LIE direction of the current in the financial stream toward a TUB 1 smoother surface has been indicated of late by straws which seem to be be growing more numerous as time progresses toward the now flow year One Ono of tho the of these is an among banks Its throughout the country for prime commercial paper It Sit t is stated that while New York City banking institutions are are not enlarging their purchases of commercial paper In tho the open market there ha h been een a i decidedly broader inquiry for this class chass cass of purchases among the tho lt lY banks It I is declared by bankers that this increased buying of or commercial f eral paper which has been on the increase during the tho past pat two or oris or l w Q is proof that credit cedit is easing casing up at least at certain points an and ani t that t banks are using their surplus funds in the purchase of commercial bills bis yf i Until J comparatively recently the tho demand for commercial paper was rather whilo Q r rates tes when quoted at all al were 8 and 8 81 84 per cent For s reeks vert weeks there has been less Jess borrowing by industrial houses housea owing It Is stated to lower commodity pr price e movements and the bele belief that money Crates will m follow tho the downward of commodity prices The Tho result has b been cn t Wa that a the tho tho volume of commercial paper in the tho hands of bill bi brokers has ha d decea materially decreased d materially while the demand of banks banks' for such paper has ha caused a slight casing easing of rates which now are 7 and 8 per cent i ft h is stated that many bankers banker confident that commercial paper pe will e willbo be still easier easler within the next few weeks have advised Intending I Ius customers us Jo 9 delay seeking accommodations Still SUl ano another her straw indicating an an improvement Jn it the prevailing credit situation nd showing a brighter outlook is a broader demand for treasury certificates of indebtedness There Is reported to have bave been a broad de demand de- de mand inand and r recently centy for the tho 6 G per cent Issues now outstanding while bankers com complain that it I is difficult to pick up up any ay large largo blocks of such certificates some of of which recently sold sole at 1007 1004 It is generally conceded that each week sees further progress on the theroa te rca roa roa deflation measured in prices pries and also aIso In respect respect to financial conditions con con- I i |