Abstract

The Week in Trade and Finance

The article provides recent economic developments in the U.S. The chief event of importance last week was the advance of the Bank of England and minimum discount rate from 6 to 7 percent. The money market at this center has remained very easy at 6 percent and under. Commercial paper is easy of late at 7 and 8 percent. The bank statement is unusually favorable, and the gain in reserve was such as to carry it up to $10,815,325 above the, required 25 percent, a gain of $5,896,225 over last week. The stock market, partly owing to the absence of leading operators at the West attending the election meetings of a number of important railroad corporations, and partly to the recent yacht race and the Jerome Park races, was very dull, and at times almost entirely neglected.