Show UNEASINESS IN fINANCIAL CIRCLES L OVER SENSATIONAL DISCOUNT RATES I 2 Blame for Bank of Gold Policy Is Placed on Oil the Banks of New York Which U Have ve Borrowed Immense Sums I I New York Oct n York are not entirely agreed as a to the influence of oC Ne Now York credit op operation In having forced the Honsa II advances of th thu last two weeks In the tho Bank of oC div rate Current of Now Yorks 1 I borrowings from have I run as high as a for Cor the tho season Jacob asserts that much exaggeration has attended estimates It Is a fact however that No York clearing house bouse banks con contracted contracted the loan account JO from the lie last week In August to Oc October October tober 16 without evidence of an any cur cor corresponding responding liquidation In the tock stock These loans were supposed to have hae bc been n transferred to a large laro to foreign banks At the sante time the foreign trade has been abnormal in the heavy value or of i Imports and tue tho scanty exports INI Ing no adequate of exchange e eto to meet maturing indebtedness ii Iian fOI flotation of new nen bonn bond is III sties also have hac been boen held up In which foreign bankers were expected to par participate and thus take up UI portions or of I maturing Indebtedness Miscalculation or of the autumn mone money markets Is admitted to have hao resulted from these hose abnormal conditions Tho rapid rise In foreign exchange rates In New e York fOr several days past shows that foreigners are aro Insisting on pil payment of oC maturing indebtedness and indicate that exports of oC gold may maybe be involved In meeting the require requirements ments Gold exports to Europe arc ara not Improbable judging from the in inI given out hr by bankers to today I far day The assay office has hag some soma 5 In gold bars on oh hand tn In i as to Its availability for ex cx Port was ma made e there today among amonS tbt hi international bankers today do de developed that all are Incredulous reo rc t the he reported German pur ur chases of gold old In London Bankers I fa say It would he be Impossible to Import I gold with profit nt at the present rate of exchange As Berlin bankers the London situation the present I stringency hero thero Is duo to the miR mis mistaken taken of tho Bank or of England In maintaining too low a discount rate durIng the lie summer This Thill speculation peculation In York and facilitated the purchase or gold for other countries as well HI as caused causer EnglIsh bankers to o offer mon men monC meney C ey In sums for German bills These latter operations were due rather to the demand from English bankers for temporary investments Investment than to the ac actual Germ German 1111 require meats ments for fOl mone money As n a matter mattei of fact Instead of Ger Germany many borrowing to excess In Lon Lan London Landon don bankers have largo large bar ances there One representative of a great International banking house In informed formed the Associated Press that It had larger balances In sterling than all th London bankers have with It In marks The Banle Is I also understood to have hae big bib bal bai ancos ances in London Bankers hero here hardly c expect the lie I London check rate at aL Berlin to rise I Ito to such a point that the gold export point will be reached because the EnglIsh demand Ihl lie diverted to I Paris Palls before that time |