The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1896-11-13
GOLD CREEPING OUT.
ALL THE SEATTLE BANKS NOTE An
INCREASE OF DEPOSITS.
LamheP Orders Come Rolling In
That We're Held for the Result OF
the Election-La Conner Farmers
Getting $22 = Ton for Their Oats
merchants Getting Better Prices
and More Business-lnterview
with All the Leading Bankers.

All the bankers Of the city were waited
upon yesterday and asked whether any
rippies from the wave of prosperity start
ed by restored confidence were yet dis
cern.bie in the local current of business
affairs They one and all declared that
there was undoubtedly more activity In
business. and that boarded gold was being
restored to the banks. These bankers, and
in addition most of the leading merchants,
were in receipt of letters from the East
containing anxious inquiries as to the ef-
feet of the state election. These CORE
spondents pointed out without any mine
ing of words that Popuxstic admin.stra-
tton, whether state or local, had proved so
disastrous that capital now fought shy of
any community in which that element pre-
dominated. They desired assurances that
no legislation inim;cal to vested interests
was likely to be. attempted by the new
legislature. and that all investments
would have just legal status. These as
surances were generally given with conf
dence, and from the number of such let
tiers betokening keen business interest
in this state and a confidence in its re-
sources, now that the m;sgivings of coy
capital are being removed, hopes are en-
terta.ned that Eastern capital viii once
more look to this state for safe and profit
able investment.
+. O. Graves, president of the Wash
ington National bank. said there was I'M
I doubtedly an improved tone in business
circles. The shingle mills had received
many orders that had been held over un-
I'll the election was decided, and the num-
Der Of such orders already received would
bring large sum of Eastern money into
the state In addition 10 this encouraging
condition. money that had been boarded
was being returned to the banks and
getting into circulation. The actual i'm
provement was not particularly large, and
could not be expected 10 be in so short a
time. but the indications were exceedingly
promising.
tionai bank, said: The country seems to
. be rapidly gaining ground. and a great
deal of money has already come out of
boarding. / notice quite a marked i'm
provement in the shipments of shingles
and lumber. and the drafts against these
shipments are more promptly paid than
before election. look for an early i'm
provement in this city both in mercantile
and manufacturing interests. and when
capitalists in the East are assured that
the state legislature will not make any
laws that are inimical to capital, more
will be brought here for investment"
Maj. J. r. Hayden. manager and cashier
OF the Peoples Savings bank, said: Our
deposits have increased materially but the
found in the fact that many who had
given notice Of the withdrawal of their
accounts. under the term rule. have with
drawn their notice. as they are now no
longer afraid of being paid in silver
w. R. Ballard, president of the Seattle
Savings bank. said: Business Is cer-
tainiy much better. We have a larger
number of small deposits than We have
seen for years, which is the best indica-
ton We can have, ! think. of returning
confidence. We think. however. that
there VIII not be large amount of money
coming here until after the legislature
meets. We have some letters from the
East inquiring about business and what
effect the political condition of affairs will
have on us. We write them that the state
Is still Republican; that II was not Pop
ulist victory, and that We are satisfied
there will be no vicious legislation en-
acted. We think that when the leg.sla-
ture adjourns without having done any
thing 10 scare people East there will be a
great deal of money to loan here on prop
critics. Yes, there has been a great deal
better feeling in business circles during
the past week"
Z. w. Andrews president of the Seattle
National bank. said There is decidedly
a better feeling all over the state. Theo-
dore Halter came back from La Conner
few days ago. and he says the farmers
instead OF $l1 and $12 and 1t Is in their
own hands. That means great deal.
People with mortgages maturing are al
ready beginning to pay up, and money is
| easier In every way. These are improve
ments that we know OF. but the improved
conditions resulting from the election
everywhere else have not directly affected
| US as yet; II Is too soon
A. NJ Brookes cashier of the Boston Ma
| tional bank. said: I've have had num-
| Der of new deposits that have undoubted-
| ~ come out of stockings. and undoubtedly
there is a better feeling. but / think II is
| too early yet for any improvement TO
| show itself in the way OF increased de-
| mand for our rroducts-tco soon after
election. Our Industries win no doubt be
! affected by the returning prosperity OF the
| country at large and as soon the new
| conditions begin 10 assert themselves. we
| shall see an enlarged development of
| every kind.
1T may take the Eastern people some
| little time TO overcome the prejudice which
| they aiwa - have against Populist sta.e.
| but when they find. as am sure they Will,
| that vested rights will be secure In this
| state. and that Investments here are prof
| liable. they will gain send US their capt.
| tai. which rs so necessary in building up
/ our industries
| Lester Turner. cashier Of the First Ma
/ fional Bank OF Commerce, said: There
| has been fair Improvement In business.
/ fully as much as I expected Hcarded
! money that has been out OF sight Tor
/ awhile has come into circulation again.
/ and as money keeps getting easier the
/ number OF those who are bringing money
out will Increase more rapidly. The I'M
provement wilt therefore be more marked
/ as time progresses
Lester Twiner. cashier of the First Ma
.ional bank. said: 1.-THE great hindrance
| TO return Of prosperity has been re-
moved In the settlement of the silver Gn@s-
/ ton but we cannot expect 10 jump from
| depression 20 prosperity at one bound The
/ merchants whom have talked with speak
| OF a revival OF trade There ts gradual
I advance in the prices of almost all kinds
/ OF goods. and with restored confidence
that part Of the community which has
/ been boarding gold viii gradually come
cut and seek Investments We cannot ex-
l pect q decided and immediate change In
/ that direction, but IL viii come soon
II think the outlook for the lumber BUSH
1 ness is better than II has been for a MINI
| her OF years. with the prospects for very
large foreign orders Aiso the advance In
| corr wheat and oats all over the country
I Is making 3 demand for our products.
expect 10 see next year decided advance
In the price OF sfurnpage 81 this state. We
/ viii probably, ho~eTer not get good times
/ IN this state as quickly as they viii In
other parts 81 the country because our
/ people have not very much to sell There
Will be- for a tine anyhow. some rinidt.y
on the part OF outside investors because
1 our state went Popuiisr. but that will
wear out pretty soon. On the whole, ev-