Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1894-01-22
FINANCIAL SITUATION.
a God Situation Reported by New
York FinancierS.

VI d
SECRETARY CARLISLE'S ACTION
Into the Financial Life of the
Country - Prominent Brokers
GIVE Their Opinions About the
Financial Condition of the
Country and Comment on the
proposed Bond Issue.
sr,-o, 7,',orern 70 n, Rssis's-.
NEW YORK, January 2l.-The Clear
.ec House statement OF the Associated
Banks or New York City, FOR the week
.pi.ng January Goth, shows large in
.-ea>es in every item. Larger In fact.
,han FOR some weeks past The gain in
cash was sl3, 76s, 600 This money came
-a.eNy from the interior, although the
hanks gain So, $50, 900 from Sub-treasury
..erations. The increase in deposits is
slt. t.al2. 800, and the aggregate net de-
amount TO S543, 300, 200. Loans were
Ilended but Sl,5Ou,5OO and the re-
serve Of the banks is now seas, 331, 900,
while the amount they are required to
keep on hand (25 per cent. of the net
atp0,its) is Sl35, 576. $50, making the
amount Of idle cash locked up in the
vaults in excess OF the legal require
meurs slO2, ,45O. One bank has over
s3oo00,OOO in deposits and eight more
have over $40, 600, 900 each. They come
DO the following order:
National Park Bank .................t $50, 3g7. 800
i.. er''rs "a Traders ....-.........-.. 29.SAO,OOO
Chemical ............ - O93, 100
National city ......... .............-. - 5l 100
'.-tn Nauona' ........... Sool 800
fst NHl 'uAi -...-....--..-..... -. lt4UOJ
Ns..aal Bank of Commerce 2, 100 30
Hanover National. .......... ~, go 500
To the financial situation, conditions
were duh at the outset OF the week,
hut the action OF the Secretary Of the
Treasury with reference To a new issue
OF per cent. bonds has infused fresh
life into the financial transactions OF
the country because the absorption of
500 O0O 900 aud $40, 600, 900 Of idle capt
"a, by the government bonds, will re-
Ieve the COngestive condition OF the
money market; tend 20 an equalization
OF value and stimulate 10 some extent
all business industries.
Regarding this issue, there are prob
ably 10 men or set of men, whose
opinions on the financial and business
situation are so highly thought OF as
the prominent bankers OF New York
hav -. Ill. 4
oHs1ess interests of the nation, and
-Sbbw the exact condition OF trade in
the different sections OF the country.
hence the interviews appended will be
read with avidty. The information
iuruished by the following bankers will
Naow nSt where the trouble lies. and
may assist those who have been work
Ing in the dark to see their way clearly
ioF bright future.
GEO. G.. WILLIAMS.
George G.. Williams, President of the
chemical National Bank. and President
oI ine Clearing House Association. said:
'ln regard TO the general banking
business Of the country, the deposits Of
lI' out of-tOwn banks have not in
creased in the same proportion that the
deposits OF the New York City banks
rave. This would indicate that either
CONFIDENCE has not been fully restored
'' IT'S normal condition, or money has
.'t tue localities 20 pay debts in the
Lastern cities. Almost all countrv
UaHEs com plain that they have no sur
Pus CASH yet they appear 10 have
enough Tor their Immediate wants. as
ih" demand for re-discounts is very
Moderate.
be general business depression all
over The country can be ascribed 10 the
reaction after the panic. As a fever Is
a.uost always followed by prostration
llr human body, so IL is now in the
o'ly polite. The panic brought every
.N'hR 10 a standstill, and every one cur
a'ed business, terminated old obliga-
.'h'' aud created new ones. They are
waiting for that gradual recovery
'S sure 20 come in due stime. I
'.' hot IKE TO assert that we have
the worst OF the depression. and
hard' look for material inprovement
' BUSINESS Tor some time to come. The
.Nrlus gained in the progress down
.'. h'I during the panic was very great.
DO ls hard 20 stop, but / trust we
very near the valley now. and. al.
Rh 10 WIZ be much harder to climb
'Hs hIIi than 10 was % get down. I
we VIII eventually reach the sum
r where 10 is to be hoped we will
.it Tor a number Of years.
De relief they want now is the re-.
rom tne log OF uncertainty. In
ihey are laundering regarding
'ha disposition Of the tariff hill
Conservative tariff measure should 5e
out The time for Its operation
'.1 oe postponed a suitable length
''Ile TO allow tho people TO prepare
a'apt themselves to the change.
soon as the country is assured AZ 10
"hdJ congress will do about the tariff
mere need be no fear but what the peo.
wv 90 to work, and will be as sue
.''iu' as they ever we're before. The
t.erta'nty is delaying recovery, and
"ui be repaid.
10 EDWARD SIMMONS.
..-.S 70 yard simmons. president OF the
urn '..r, National Bank. said:
AIt StagnafiOn Of uarorat b,,.t.. ..