The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1890-12-08
THE TACOMA MONEY MARKET.
Banks Have Funds for Legitimate Busi-
meas. Eut Nothing for Snecuiation.

n
meas. Eut Nothing for Speculation.
TACOMA, n C 7.-lSpeciai. what Ia the con-
ditou of the rnoaev markets p" half a dozen
bankers. repr asentins rs many local banking in
st;ut ons, w-rs assed ,oday.
IL ep.y they said in substance: I'VE have
money enough ami 10 spare for our customers,
but W. fa@n't a cent for speculative pu rposes,
Further. they declared 70 man that gilt edged
security woult not 'empt them. I'VE nave
been putting our reaiy cash by for q rainy
day" ONE Of the bankers asserted. I'VE are
soing help our customers out, and help them
Continue bnsiness-if any are caught In the
hpancia! saueeze-just as ii they had any guam
tity OF ready cash.
"a few dsys ago / heard Of gentleman" said
mortgage loan end trust man, "who could not
raise $500 for me life OF i'm at the anks
He wanted the cash 10 sp .culsle with, and that
was the reason that re could not raise the
money. He was ready to .urpish signers to bis
paper. men representing $o05,0O0 or more. not
dollar o which Is In any wise iacum oered.''
Had he wanted the cash to use in his busi-
ne's quite likely 1t would have been forth
coming p
Certainly"
AS rule all of the local banks have more
money on hand lhan is usually the case. Still
the fu ry has pat them on their guard, or
rather. as one of the bankers says, ION the safe
side"
However, there is no lack of con fdence. Bust.
ness generally is good. Bankers aud merchants
chat about the condition OF affairs. Tue fact
that veIy little Eastern money is being sent this
way for inve stment is not viewed with any
sh W OF apprehension.
"Tnat fact," said a railroad man today ''is
utterly devoid OF significance. Tie fact is, no
money is b ing sent out. it is q natural condi-
ton OF affairs following the financial furry.
Al er January l, when the crop m ney. the hol-
n an fraA
mtnts ar IN, money will come out OF the stot k
ings as Wizard Gould says And there will be
plenty of IL, too"
but why is IT, asked q quiet listener, "the
county courthouse bonds the city hall bonds,
the Tacoma Railway ani Motor Company's
bends, Lave not been placed? Way is it. / would
IKE to know, unless the bottom has fallen out
OF something?"
There's less danger Of the bottom falling out
OF things just now than there was three months
ago." IL Was the railroad man that spoke. "Tl
iell you the reason why he added leisurely.
Money was plenty three months aso. 1t went
Ia ali rect ons, ana then there was some
danger Of the bottom falling out OF something
But Tor the past two months the money bag
soopers have been dong little else bat tighten
up the hoops on the coin barrel, aud now the
bottom Is rs tight as drum. No, there is no
oaLger OF the bottom falling out OF anything
Just now. We are strong how because every
outlet is guarded. Mon, is secure"
"But how about the bonds?" persisted the
qui listener
Simply this: There is little or no money
coming into this Western country for invest
meDt jass at present. The loan companies have
rot the money to advance on Jnds. The mar
ket IS unsettled. And now let me say the prin-
cipal reason why money Is not fJrthcoming is
tue tact that the money kings are fighting for
supremacy In Wall street a hiing among them
selves Those whom Jay Gou.d terms the men
with money in tneir St cklngs, are standing
aioof, Interested spectators. When the Uis tisn
stop fighting, the stockiIgs viii come iorth
You don't think for moment That If there WAS
money in ths COUNTRY ready for investment, its
hold rs wuuld let the griss rrow under their
feet while there was Tacoma city or Pierce
county bona, or T-coms R9iiwsy ana Motor
Company tohd to be ad. do you? Tacoma and
Pierce county have praeticaly no inde bt ed ness
at all As forthe Rii.y and Motor Company, It
is earning haadsUmj d.yllends on its property
night iong."
President schulze says; "Ths Railway and
Motor Compsny IL pusning ahead with it, work
ana paying It's bills. As tor the bonds being
placed. that is a matter OF no public interest"
Nerk on the lines OF the Railway and Motor
Company has been going on steadily for months,
fifteen miles Of electric road aid two miles of
caDle Rad having been built so far during the
year. Just at present the force Is smaller than
usua,.