OCR Text |
Show MONEY CONDITIONS IN THE EAST That a better feeling prevails in flnfncla! circles Is disclosed by Henry Clews, in his weeU letter on business busi-ness The New York banker says "A partial change for the better de-'.r-loped In the earh part of the week j T his had Its first origin in a decided improvement n financial and poli-'tical poli-'tical affairs abrojd. Th fall of Adrianople induced a decidedly more hopeful feHing In foreign financial i circles, since that ever.t ;nds the war laud settles another point of serious difficulty. An additional factor of wide-reaching importance 'as the In proved monetary conditions In Kurope, particularh In CJerraan The much feared crisis arising in Germanv from excessive Industrial activity and the Balkan war has been safely pro- . trided for Much e3sler conditions now prevail there, and no serious trouble Is anticipated The Imperial Cank of GermRn has been able to materially strengthen Itself by recent j?cieesions of gold. I.owcr rates have prevailed for money, and ere long It 11? expected that the hoarding of funds in Europe, which seriously aggravated aggravat-ed the situation, will he cradually released. re-leased. The other great European j banks have also succeeded in Strengthening their reserves, and conditions con-ditions consequently will be more fa-ncrable fa-ncrable to financing the new Issues .forthcoming after the war threat as-Sl as-Sl :nnce has been rendered by the K lO.tiMi.ono of gold taken irom the United Stairs during !be recent out-wail) out-wail) movement. While the bulk of 'his wnt to Germany, it will now gradually find Its way to other banking bank-ing centers. In response to these im-iinvin im-iinvin conditions, Europe was a large buyer nf American securities foreign purchases being instrumental in changing sentiment here and in o I ettlng the weakening effect of ou disa?trous floods In the west.' |