Fort Worth gazette. [volume] (Fort Worth, Tex.) 1891-1898, 1893-03-23

r ne flNtNWMFtN WIZ II tAfff'NN'f'@f
bnlarces S4S.gSt.19 For the CORES
pondug day last year clearances, 49,
5000; balances, S8G9tOvO'
FINANCIAL NOTES
The Wall Street Daily News Of last
"a decided change has taken place In
the character Of the money market with
in a week past, aud indications are NOT
wanting that the worst has been seen.
Ten days ago the demand for money
from this center to meet requirements
of interior banks was simply enormous,
running into the millions from day 10
day, and there was. nothing IN the I'M
mediate outlook to Indicate the amount
which might be required TO satisfy the
hungry maws of other sections ne
situation was anomalous and the Oldest
and most experienced hnanciers In New
York were unable TO give reason when
even TO themselves was satisfactory as
to the cause for the currency move
ment. A prominent officer of one Of the
leading banks Of New York, which mas
an extended correspondence throughout
the country, voiced the opinion of num-
crous others on Saturday, In the follow
ing statement. made to representative
of the Wall Street Daily News:
ct now appears that the country
banks became somewhat alarmed on nc
count of the agitation of the money
question aud the predictions that we
were rapidly approaching silver basis
of values Being a little lame, they
started In early to replenish their COT
fers with the funds which they felt cer-
tnin would be needed in settlement OF
spring accounts. The time was when
April / was an important day IN the
years calendar on account OF the heavy
payments due mt that time. Year by
wear settlements on that day have been
I 1tttt NhUtr uffll II
tor In the money situation. II now
seems as If Chicago knowing that y
large sum of money would he needed
this spring and summer, started n move
ment to accumulate funds sumclent 10
meet possible contingencies, and this
movement excited more or less alarm
among bankers at smaller hnahcal CEN
ters The net result Of II all was that
nm unprccclputcd demand for money from
New York came from nearly every prom
incnt city in the country. IL seems rehs-
enable 10 expect, therefore, thnt the us
uni April requirements have been Qnucl-
patCd As far MS one can judge the IN
| terror banks are now abundunty sup
piled with funds to meet any demands
| that are likely TO occur during the next
| thirty days. In other words, the IN
! qury that usually comes Just before
| April /, has been anticipated TINS yehr
and from this time onward we ought 70
! have an easier money market provided
! ouly-nud this Is a point to be emphn-
! gizpd-rOld shipments are not resumed.
! The outward movement OF the yellow
metal furnishes n problemutcal question
! that Is simply impossible TO answer. II
] European capitalists should take y mo-
| non to buy few American railway
| stocks and bonds. the balance of trade.
| which for the time being Is heavily
against us. would hc Offset by the for
wording of securities. Again, u , hu,
ropeau Golfers have been sufficiently tilled
! with gold, so that further nccretions are
NOT impcratiyely demanded, 1t may be
! that the money which otherwise would
hive 10 bee forwarded. will be left here
| for use mt better rates OF interest than
can be obtained abroad,
1--WE in New York hardly appreciate
the amount of business that Is being
done outside OF the city We are TOO
| amt to limit the scope Of our vision TO
Manhattan Island alone, and think be-
cause money is stringent here, II must
he SO all over the cOuntry and because
| stocks are weak business must be IAN
! plishing On the other hand the clear
ing house returns from all over the coun-
try reflect II handsome gain for the past
week New York improved Z per cent
which Is the largest increase this city
has had in many weeks and that too
considering that We compare with the
returns for week last year, when there
was no stock exchange clearing house
IL Is really worth while 10 note where the
changes have been greatest. President
| Harrison has returned to indianapolis
but the falling off In the business there
Is us great as ever, the loss being 81
| per cent while the office holders and the
attendants upon the inauguration cere
monies have raised the clenrances al
Washington more than 30 per cent
The heavy gains are IN the South ant
in the Northwest. Omaha milwaukee,
and Tacoma have Nn average increase OF
almost 30 per cent and Galveston aul
Houston about the same. Out of II
cities reporting only 13 show a falling
OF and those are the manufacturing ant
the iron cities. The statement as ,
whole shows very healthy condition u
trade.
The Financier of New York, on Mon
day, the 10th inst, published u long and Is
hnustiye article ON the Atchison, Topeka
and Santa Zee consolidated railroad sys
TEN, covering II mileage Of $3.50 miles
or more than 3 per cent of the Nggrg
gBte railroad mileage OF the United
States. This article is based on the de
tails of the last annual report Of tn,
company. and on the figures for the frs
: seven months of the current fiscal year
In this article, The Financier stated un
resorvedly its conclusions, that after ,
| cNfelul STUDY OF inc whole situation, o.
the manner In which the finances of IN,
company have been successfully reor
r gauized, of the conditions under which
its diversified systcm is operated ana
{ of the superior ability and tact, Wit
b which every department. of this EXTENDED
] system is administered, no person car
fail 20 admit that the property is deyol
oping great earning abilities. aud tba
p with the normal growth of the country
. and the development of It's resources
o the Atchison, Topeka and Santa Fe rail
road must become IN the near futur,
one of the most valuable railroad proper
ties west of the Missouri river: and tba
for the fiscal year, ending June 80. 1904
the net income win represent dividen,
. of IL per cent ON the entire shar,
y capital stock of the company.
MONEY AND EXCHANGE.
) New York, March Money ON call
y easy, 204; closed, offered at ..
Prime mercantile paper, Gar.
, Sterling exchange firm, 4.S5 81. sivt,
y days, 4.Sf 3-lqlASS; demand.
n WYATT ffryr.r,f,st, 49,,