OCR Text |
Show Conditions Improving ..New York, Aug. 10. Developments In the financial world today were of a more cheerful character.. The fortnightly fort-nightly report ot Idle freight cars re vealed a decrease of nearly 30,000 bringing the number of unemployed cars down to the smallest since April 1. The United States Steel corporation's corpora-tion's monthly report of unfilled tonnage ton-nage showed an Increase of l2G,732 tons, the amount ot business on hana ht the first of the month being the largest for Ave months. Steady progress waB mado toward clearing up the tangle among stock exchango horses and their customers, caused by the closing ot tho market and tho violent slump which preceded It. Unofficial prices ot stocks quoted today were similar to tlioso Heard last week, in most instnees approximating tho figures which prevailed at the tlmo business was suspended. In the money market there was no Important change. Banks as a rule confined their operations to tho satisfaction satis-faction ot mercantile demands. No money was offered on call In tho open market and the demand for accomo datlon of this description was reported re-ported as being light. A few call loans wero mado ht tho banks at C per cent, tho ruling figure at the cloau of last week. For a small amount of ninety day money 7 per cent wes paid today. Offerings for ilxcd date3 wero smnll. Sentiment lmp:oveu over tho week ending In tho open market for mercantile discounts Jin" paper was purchased more freely al though tho total was still small. Long term paper was most in demand, de-mand, with 0 per cent ruling for nil dhtes. Although attempts were made to do business In the foreign exchango mar ket and some transactions were carried car-ried through In the purchase of grain bills there was still great difficulty In realizing upon credits resulting from merchandise exports. This was generally the case on the continent and In some Instances In London. International In-ternational bankers Bald little difficulty diffi-culty was being experienced In regard re-gard to letters of credit for small amounts, although foreign bunks wero conserving their cash resources and were unwming to advance large sums. |