OCR Text |
Show BULLETIN OUTLINES OCTOBER BUSINESS Washington, Nov. 3. Outstanding features of the October business and financial situation, cited by the federal fed-eral reserve bulletin today, were con tinuatlonof heavy exports and of the net inward gold shipment, extended domestic trade activity, rising prices, easy money rates and full employ-metn employ-metn of labor. Heavy balances due from Europe it Is stated have given riso to demands for new financing a feature of which, of especial concern to the federal reservo system, is the extensive resort to the ubo of acceptance accep-tance credits arranged, pr to be arranged, ar-ranged, on behalf of industrial and commercial borrowers in' Europe. The often predicted slackening or reversal of the gold movement in thh country has shown no indication of developing to the present date, the bullotln says., Official statistics show that to the middlo of October the net inwardd movement or gold, .since January Jan-uary 1 was approximately $204,000,000 against $200,0000,000 for the corresponding corre-sponding period in 1915. "The only symptom of a change in tho international position of the United States as respects gold," the bulletin adds, "Is found In an increase in the gross exportation of tho metal from the beginning of the year to the middlo of October, bringing the total f outflow to about $96,000,000, against $13,000,000 the same period of 1916." 00 |