Omaha daily bee., 1891-12-27

With-a view TO showing the actual condi-
ton of the financial and commercial atmo-
sphere of Omaha and Nebraska, Tue BEE
this morning presents a number of inter
views with iinanciers and merchants who
are thoroughly posted upon the subject.
John l.. McCague, president of the Ameri-
can National bank said:
"There is no use of so much complaining
about hard times. If these croakers will
simply keep quiet a very short time they will
perceive that their complaints are very
largely imagined. II every man will take
advantage, so far as he can, Of the impulse
that's now being felt n financial affairs ana
commercial lines there will be no room for
complaint. The financial conditions now are
so much better than they were a year ago
that they should not be mentioned in the
same breath. The prospects are very bright.
Last year, on account of the partial crop
failure, the west had to depend upon the east
for capital and the money market in the east
was depressed. This year, on the other
hand, all reports from the east at present are
TO the effect that there is a plethora of money.
Situation in New York.
Here is the situation in New York" said
Mr.. McCague, handing the reporter the fol-
lowing advlces from that great money center:
There is now more money in New York than
NV 10 un' Iols ho uhN Dlb wv V'ttON'NNNf
more than the law requires them to. Money
is flowing in from the interior and being dis
ply abundant, the demand has been small.
The spectators have needed Little, and the
To toerG a Very 'I Iow i iigsre, Na and n II So% %e', want
any money now, and have good collateral.
you can get it almost on your own terms.
respect. In II few days the corporations
and the government Will begin the distriOu.
a ai"h divlde 9NH. tiUU,e'O'V adding to o''r the
sum of money, seeking investment. Bankers
are som gncb tn that they haze Inoes never %NSr
ever, as II a use would soon be founo for the
surplus money. There Is a notable demand
for Investment securities. Tho sales of
bonds show this. In the stock exchange
alone, over fourteen and a half millions OF
counter" OF the banking houses. 1t would not
OF the plethora OF money and the big, earnings
and Increased dividends of the railroads TO
start another boom In stocks as soon as the
street, But before there can be II boom there
must he a willing public. There is certainly
things don't always happen just AS they are
expected to in Wall street"
How are the country banksW
"ln very much better shape than last year.
Many OF them have more money than they
need. Collections in the country are good.
A great many country merchants are dis
counting their bills, some even telegraphing
the money. If this continues for sixty or
ninety days the banks of Omaha Will be
overlooking with money. Omaha has not
felt the impulse quite so soon as Kansas
City, st. Paul or Minneapolis, because those
cities are in the wheat re~glons-kansas City
in the winter wheat and the others in the
spring wheat belt. Wheat Is marketed
earlier than corn, and of course the COM
munitIes that handle wheat feel the effect of
increasing money current before cities IN the
corn belt are similarly affected.
Easing Up in Omaha.
"Within the last thirty days Omaha has
begun to feel the effect of the corn ship
mcnts, ana the state has felt IL more than the
city, because it requires some time for the
increasing volume OF money among country
merchants TO make itself felt in the financial
~centers. | believe the near future promises
great pros perity for Omaha and Nebraska.
The city will enter upon u long period of
legitimate prosperity with an absence OF
anything having the appearance OF ln-
tiatiou."
Banker Millard's Prediction.
Mr.. J. H. Millard, president of the Omaha
National bank, said:
'"rhe condition in money matters is much
better than it was last year at this time.
The country Is all right, and the country
banks have plenty of money. The prospects
indicate that there will be an abundance OF
money in Omaha about the first OF February.
The condition has been slightly improving
for sixty days, but about the first OF Feb
ruary Is the time that deposits by country
banas usually begin to increase, and we eX-
pect All abundance of 1t this year, Judging
from The present situation"
Efect of Good Crops.
Mr.. r. II. Davis, cashier of the First Ma
tional bank, said:
'Good crops and good prices have had an
encouraging effect upon the financial situa-
ton. We noticed the Improvement begin
ming about thirty to sixty days ago. Country,
banks have felt the stimulating ehect OF
grain shipments to a greater degree than the
city banks, simply because 1t requires some
time for the money that is paid to the farmer
for his grain to reach the wholesale anu
financial %centers. The prospects are a great
deal brighter than last year, but | don't look
for n large movement in real estate. The dis
position of most people in Omaha will be TO
build substantially and safely"
Country Banks Prosperous.
MIR. G. w. Hamilton, president of the
United States National bank mad this to
say.
better than a year ago. Country banks with
which we do business arc in good shape.
Business has a healthy tone. Not much dis
position TO speculate. Our eastern adVlces
are to the effect that money Is much easier
than a year ago. rms mas a tendency 10 pun
down rates in the east"
Effect OF the Gar Famine,
Mr.. LOWS fteeu, ChsuloT u tho tooIuohh
National bank, did not paint the picture so
bright as some Of the other gentlemen inter-
viewed. He said:
The scarcity OF cars Is holding back the
of corn and the money Is not How
ing into the STATE so rapidly as it would II
shipments were expedited. We have noticed
but very little improvement in local finances,
but the country has experienced a decided
change for the better. Country banks are
not borrowing so much and they evidently
have a good deal OF money. The year 1872
will be presidential year and that may inter-
fero to some extent with the business OF the
country. Aside from that | think the pros
poets for the coming year arc very encour-
aging"
MIR. Wood Is Sanguine.
MIR. Ben b. Wood, cashier OF the Mer-
chants National bank, summed the situation
ln this wise;
''rhe condition is much improved. Advices
from the east indicate that there Is plenty OF
money there. The reserve now held by the
New York banks is very high. Only once in
a number OF years, as l r~ecollect, lras the re-
serve reached SO high a figure"
No u ard Times Here.
Colonel j. n. Cornish, president of the
National Bank OF Commerce, looked at the
situation thus;
1.-THE financial condition Of the country is
improving ana country banks have plenty OF