Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1893-08-11
.THE BUSINESSOUTLOOK
SEEMS TO Be GROWING BRIGHTER DAT
BY DAT.
The Cash Balances in the Banks Increasing.
Plans for Recognizing the Exchange Bank
Under Informal Discussion.

Yesterday was another encouraging
day for local business men.
The banks reported an increase In
the amount OF cash on hand, deposlts
coming in quite freely, considering the
general slackness of trade, and there
was a marked growth Of the feeling OF
confidence which has been abroad since
the furry OF last Monday morning
Everyone seems inclined to the opinion
that no more trouble will be expert
enced In this city, and that with con-
tinuation OF the eminently sound sense
which has so far controlled local ousl-
ness matters, and with an exercise OF
spirit of mutual forbearance in financial
and business affairs, made necessary by
prevailing conditions, all Wheeling cor
poratlons, business houses and indivld-
uals will not only come out Of the pres
;; ent pinch in good shape, but with an
enhanced credit abroad, and much
better feeling for each other al home.
There were q number of illustrations,
Yesterday, OF the faith Of the public In
the banks OF the city. One OF them &C.
Cured during the afternoon, when a
gentleman who had given notice some
time ago of an intention TO draw sum
of money, appeared at the bank coun-
ter with his notice In his hand. The
time had expired, and the cashier had
turned to count the cash, when the
holder Of the notice stopped him and
said:
81 don't want that money! 1 merely
called in to show the notice to you,
and to tell you TO tear IT up!
The notice was destroyed, and the
cash remained in the bank.
Another gentleman was absent from
the city when the recent trouble &C.
Cured. He arrived yesterday, and at
once went to his bank and deposited all
the cash he had, with the remark: 81
don't need this money and the bank
does. That's the place for it in times
like these"
This is the proper spirit to manifest,
and IL everyone would take the same
! course, and stop boarding up cash, the
| financial difficulties would be solved at
once, and business would experience
big jump back into It's accustomed chan
nels.
Another good slEn-indeed, a most
excellent indication OF conhdence-ls
the fact that number Of gentlemen
are already Informally considering ways
and means OF effectlng reorganization
Of the Exchange Bank, with a largely
increased capital, and the resumption
of business. Several Main street bust
ness men have the matter in hand at
present, and yesterday they were sound
ing depositors and others upon the sno-
ject, presenting the details OF plan
which would bring all the old stock
holders and the depositors together In
the new corporation, save both deposits
and the old stock, and at the same time
release very large amount OF money
now tied up in the institution. Men
who were depositors but not stock
holders seemed anxious to take stock
under the proposed arrangement, and
nearly all spoken TO were OF the
opinion that the thing TO do was
to get the bank in running order again
without the loss Of any more time than
was absolutely necessary. The Ex-
change Bank was one of the most use
full to business men In the city, its policy
having been a most liberal one, and as a
result OF this it has a host Of warm
friends, who will strain every nerve to
set IL upon its feet again. From the
tenor Of conversations among business
men yesterday, 1t is likely that the pro-
ject Of restoring the Institution to a
new career OF usefulness will not be al
lowed to drop, but meeting OF stock
holders and depostors may be looked
for at IN early date.
The only business embarrassment an
nounced yesterday was a small one, 1t
being the failure Of Philip E. Schenk,
who has been doing business in wall
paper, ETC., at 2135 Main street. Mr..
Schenk made an assignment TO V. W.
Berry, but his assets are said to exceed
his liabilities.
There is quite a demand for money,
one broker yesterday having six appl-
cations for loans Of large amounts and
others reported like enquiry. This
money, in most cases, WAS to be used for
improvements Of property, development
Of business, ETC., and was looked upon as
q good indication.