davidaulloa/AmericanStories huggingface dataset:
The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1899-10-29
Many Bears Caught Short,
Violent Price Changes
A SCRAMBLE FOR STOCKS
BULLS TAKE THE MARKET
AWAY FROM BEARS.
THE BANK STATEMENT is MYSTIFYlNG
The Surplus More Than Doubled by the Re
duction in Requirements by Loan Con-
traction. The Market Closes
Eeyerish but Strong.

New York, Oct 2S.-The week closes
without change of moment in character
of demand. Tone strong throughout
Advances of 1sc reported in yard sheet
angs. Other brown goods against buyers
Bieached cottons tending upward. Wide
sheetings strong, but demand quiet.
Coarse colored cottons in steady request
but difficult to buy Prints hardening
in staple linens. Print cloths without
change. Cotton yarns strong and higher
with demand in excess of supplies.
Worsted yarns also strong and advanc,
ing. Jute yarns scarce and dearer.
COTTON.
New York, Oct. 2S.-The opening of
the cotton market was steady with the
near months one to four points higher,
and September one point lower. The
cables from Liverpool were better than
counted upon, and this fact, in comnec-
ton with distinctly bullish review by
the Chronicle sent shorts to cover
Europe and the South sent fair buying
orders, which demand, together with
room covering, sustained prices during
the first hour. The usual aggregation of
bull news from the belt put in an APP
pearance.
The market for futures closed firm,
with prices net three to five points
higher.
New York, Oct. 2s~- Cotton futures opened
steady.
The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1899-10-29
WEEKLY BANK STATEMENT.

New York, Oct. 2S.-The weekly bank
statement shows the following changes:
Surplus reserve, increase $780,, 400;
loans, decrease $4,766,900; specie, in
crease $685.. 600 legal tenders, decrease
$3.50 200; deposits, decrease S6,740, 200;
circulation, increase $SS,000.
The banks now hold $3,03S,525 in ex-
cess of the requirements of the % per
cent. rule.
The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1899-10-29

orators under these conditions should
not be misled by wild enthusiasm.
While we believe the crop to be of mod
crate dimensions, and think business
conditions warrant not only the present
prices, but probably higher ones, we
favor taking profits on moderate adj
yances and Refreshments on declines
On this basis the market, in our opinion,
presents every opportunity for profitable
trading
The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1899-10-29
NEW YORK MONEY.

NEW YORK, Oct. 27.--3 p. M Money on call
easier at per cent? last loan at per cent.
Prime mercantile paper 6aJ1-2 per cent. Stei-
ling exchange firm, with actual business in
bankers bills al S4.8704.s7% for demand, and
at A.s3k0483 liz for sixty days. Posted rates
S.s4a4.4 la and si.8Sa4.s8 Ia. Commercial
bills "a S.a4.82k. Silver certificates So l-2a60.
Bar silver SIX. Mexican dollars AK. Govern
ment bonds firm. State bonds Inactive. Rail-
road bonds irregular.
The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1899-10-29
GRAIN AND PROVISIONS

Chicago, October 2S.-Wheat got down
to 69Am697s today for the December
option and closed with loss of &c, or
within fraction of the bottom. Lack
of support owing to an overabundance
in sight was mainly responsible for the
decline. Corn was steadier by an inn
proved cash demand and closed UNI
changed. Oats advanced &c and pro-
visions from 213c to 712c.
The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1899-10-29
WORKING NIGHT AND DAY.

The busiest and mightiest little thing
that ever was made is DIR. Kings New
Life Pills. Every pill is a sugar-coated
globule of health, that changes weak
ness into strength listlessness into en-
ergy, brain-fag into mental power.
They're wonderful in building up the
health. Only 25c per box. Sold by all
druggists.
The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1899-10-29
New York, Oct 2s.- Cotton futures opened
steady.
Futures closed firm.

Spot cotton closed quiet and steady; middllng
uplands 7x; middling gull ~; sales s93 bales.
LIVERPOOL.
LIvERPoox.,~ October 28.=4 p M.-Spot cotton
quiet, prices Ibid higher: American middling
fair 13-32d; good middling 4 3-l6; middling
Id; low middling l3- led; good ordinary 3Hd;
ordinary 3 ltd.
The sales of the day were 5000 bales, OF which
500 were for speculation and export. and in
cluded 1900 American: receipts IL 900 bales
including lO.S09 American.
Futures opened steady and closed quiet at the
The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1899-10-29
WHEN YOU RIDE YOUR WHEEL

Always shake into your shoes Aliens
Foot-E Ease, a powder for the feet. 1t
keeps your feet cool, prevents sweating
feet, and makes your endurance ten-fOld
greater. Over one million wheel peo-
pie are using Aliens Foot Ease. They
all praise it. 1t gives rest and comfort
to smarting, hot, swollen, aching feet
and is certain cure for ingrowing nails.
At all druggists and shoe stores, 25c.
Sample FREE by mail. Address Allen
s. Olmsted, lie Roy, N. Y.
The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1899-10-29

President King, Farmers Bank,
Brooklyn, Mich, has used DeWitt's Lit
tie Early Risers in his family for years.
Says they are the best. These ia
nous little pills cure constipation, bill
iousness and all liver and bowel troubles.
Bobbitt Wynne Drug CO., w. II. King
& Co., Adams 81 Moye, VIM. Simpson.
The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1899-10-29

Eat plenty, Kodo Dyspepsia Cure will
digest what you eat. 1t cures all forms
of dyspepsia and stomach troubles. =.
r. Gamble, Vernon, Tex, says, 1T re-
lieved me from the start and cured me.
It is now my everlasting friend" Bob
bitt- Wynne Drug Co., w. III. King &
Co., Adams & MOye, VIM. Simpson.
The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1899-10-29
Don't Try to Make Money
But Watch Others Do 1t.
and Dream About it Yourself.

Have you $50 to invest7
VIII you invest it?
If you have and WILL write Us for par
ticulars.
Fortunes are made from small capital
nj speculation in stocks and grain.
Now is the time to make money.
Write us for particulars or for any
information on the market. Reference
furnished.
SOUTHERN INVESTMENT CO.,
Marine Bank Building, Baltimore, Md,
NOTICE.
Durham and Northern Railway Com
pany.
Portsmouth, Va, Oct. 8th,, 1899.
The regular annual meeting of the
stockholders of the Durham and North
ern Railway Company will be held at
the office of the company in Raleigh, N.
c., on Thursday November 9th, 1893,
at II o'clock, m.
]. M. SHERWOOD,
Secretary. .
The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1899-10-29

Occasionally a barber combs mans
hair as he combs it himself, but ton
serial artist never does.
The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1899-10-29
OaJoAeo, October IS.
Opening. Highest. Lowest. Closing.

Fionr steady; winter patents sseca3.7O; dc
straights S3.S0a3.40; do clear SS.20a3.a0; sprine
sPses,s s @ BAKERS naaa S !sos a' wSestNo
?, spring 69a7. No. spring 63a70; No. rec
70a7l. Corn--No. Q, 80 1-2. Oats No. 2, .3a2}k
No. Q, white 2s; No. 8 white 2lNa25k. Rye
No. 1, l2Sal Ia Prime Timothy seed $3.50
Mess pork, per Dbl, So 0jas,l0 Lard per leo lbs
s. 2 a5.27 l-2. Short rib sides. loose, M.7 a5.1O
dry-sated SHOULDERS. boxed, 57a087h Short
clear sides. boxed. S5.3ja5.45. Whiskey 1924
NEW YORK
NEW YORK, October 2S Flour quiet; wiu-
ter patenLs IS 60a3 s.; do. straight S3.4003.h0i
Minnesota patents 395ai.25: do bakers S2.90s
8.1O winter extras $255aS.00; do. low grades
S2.30a2.40.
Rye flour firm; good to fair s3.4oas.45.
Buckwheat flour quiet at S2.30a2.50.
Buckwheat steady at Class.
Corn meal quiet; yellow western 80aS2.
Rye dull; NO. 2, western 50; State rye 62a65,
Barley stead y:feedin2 Al l-2a42: mating 46aS0
Barley malt quiet; western 55aS5.
Wheat spot easyj No. red T51s; optionr, May
Corn, SPIT steady; No. 9, 4l2s; options, May
38A December S{T.
Oats, spot quiet !: No. 2, mixed 2sk; options
inactive and barely steady
Beef st ong, 1aAll y $I1O1DI2.00; extra mes
s9.50al0.0O; beef hams S2l.00a25.0a; packet Sl0t0
al1.O0; city extra India mess s16.00al8.00.
Cut meats steady; picked oellies LAS
picked shoulders z; picked hams Sks9M.
Lard steady; western steamed $3.50; city S53oa
5.9s. October $3.50; refined steady; to the
continent $40; compound l2.
Pork firm; mess S9.00a9.50; snort clear s105Os
200: family SIl.7hNat200
Butter firm; factory H<al5; western creamery
Ea2i; imitation creamery IL i-2a221s; State
dairy I6hag2.
Cheese steady: large white 70.
Eggs quiet; state and Pennsy4vanf 20 l-2s2l
loss off; western, ungraded, at mark, l4alS,
Petroleum firm; renneu New roTk, 1910;
Philadelphia aud Baltimore 1895: do IN bulk
$685..
Rosin steady; strained, common to good
S.22 l-2a1.25.
Turpentine quiet at 81 l-oa52.
Rice steady; domestic, fair to extra 47<s74;
IapRu Aa55S.
crude o mills EalS; prime summer yellow
49, OF summer yellow ~; butter grades
s002l; prime winter yellow S0aS2; prime white
2sa29 1-2.
Cabbage quiz t: Long Island s2.ooas3.00 per 100.
Freights to Liverpool quiet; cotton by sCa am
20 la; do grain
Potatoes quiet; Jersey Sl60al.25: New York
s1.0041.25; Long l land SLIP l-2a1t0i Jersey
sweets Sl.50a 100; southern sweets Sll2 l-2aSL25.
Talow firm; city 3AaiM .country4M.
Peanuts firm; fancy nGnd-plcked l-2a6 Ia;
other domestic I-2a5.
Molasses quiet; New Orleans, open kettle.
good to choice, 32a26.
Coffee-Options, November $3.50: December
s. %; spot Rio firm; No. invoice 8 l-l6; No.
jobblng 9-l6; mild firm: Cordova 6Mau%.
Sugar, raw firm; iR1r REIN ny H. l6; CEN
trlrugal 96-test. 0-l6: molasses sugar 3 9-l6;
refined sseady and fairly active; mould A f-l6
granulated $40.
BALTIMORE.
BALTIMORE, Md, Dc ober 2S.-FlouT quiet;
western super s2.25@2.35.
Wheat weak; spot and October 7oa70X; No
The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1899-10-29
BALTIMORE.
BALTIMORE, Nd, DC ober 2S.-Flour quiet

BALTIMORE, Md, Dc ober 2S.-FlouT quiet;
western super s2.25@235.
Wheat weak; spot and October 70a70x; No
vember 7Ua70A; December 7ls4a7z; Southern
wneat nv sample 6sa7Il-2.
Corn weak; mixed, spot and month and No
vember 3S ka38 -; December 3Sas8A; Novem-
Der or December, new or Old 37S37A; January
36ks37; Southern white, new 3,aA0.
Oats dull: No. ghits ~taGer', new 3ca3l.
Rye eady; No. 2 near-by 6Sab9.
Butter firm; fancy creamery Aa25; sto e.
packed i4al5; rolls lJai7.
Cheese firm; large I2Aal3.
Eggs finn; fresh l7ais.
The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1899-10-29
RALEIGH STOCK MARKET.

Corrected daily by Grimes Il Vass.
RALEIGH, N. o., October %.
BOMBS
The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1899-09-18
CONVINCING PROOF.
Tho Average Wheeling Citizen Must
Accept che Following Proof

Tho Average Wheeling Citizen Must
Accept thc Following Proof
The great Sir Isaac Newton. one Of
the most profound reasoners the world
ever produced. once cut q large hole in
a board fence to allow a favorite cat
access to two gardens, and cut SMALL
er hole to allow her kitten to follow
her. The weakness manifested IN Sir
Isaac's action was due to want Of
thought. Any reader who mentally de-
bates the proof offered here about
Doau's Kidney Pills. and arrives at Uny
other conclusion than that stated in
this citizens statement Is as short OF
reasoning powers as the philosopher
when he turned carpenter.
Mr.. w. S. Neiswnnger, painter and
DECORATORS No. 20 South Wabash street.
says: my back was weak for several
years and never got anything that
gave me more than temporary relief. l
always thought there must be some
thing that would do the work for me
and kept trying, so when ] saw ac-
counts Of Doan's Kidney Pills went to
the Logan Drug company and got a
box. ! was well repaid, as they thor
oughly rid me Of my backache and
made me feel better in every way.
Doan's Kidney Pills for sale by all
dealers. Price 50 cents. Mailed by
Foster-Mllburn Co., Buffalo. N. z, sole
aFentS for the United States. Remem-
Der the name-DOan's-and take no
substitute.
The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1899-09-18
Wool.

Bradstreet-The market shows fun
strength on values. and some kinds
have been further advanced in price.
Sales are large. but are mostly In spots,
some houses cleaning out large blocks,
while Others are doing but little. Bos-
toms sales for the week foot up in ex-
cess of 100000 pounds, of which over
100000 pounds were territory, Includ-
ing Texas, California and oregon. The
larger mills have been the most free
buyers, which makes 1t appear that
they have confidence in the situation.
Fleece woods are flrm. but trade is mod
crate. Sales Of fine Ohio washed de-
lalne noted at ss9Ss 1-Sc. Pulled woods
are firmer, A and B supers secured be-
ing about 1 cent higher Australian
woOls are scarce and nominal. The Lon
don auction sale opens September 10.
and higher prices are looked for. Car
pet woods steady, but quiet.
The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1899-09-18

HAVANA, Sept. 15.-Gualbert Co
meg said to-day that he had no inten-
ton of joining the Cuban National
League or the Cuban National party,
but will soon form new party upon u
platform around which all the old revo-
lutionary organizations can and will
rally. I'm the event OF the Americans
declaring Cuba independent" he said
today, II think General Maxine Co
meg Is likely to be elected president as
he has large backing. He will not.
however, remain long In that position
He Is n tyrant and overbearing, and
the people OF Cuba would not endure
the Injustice which would certainly pre-.
vail under his administration.
The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1899-09-18
WANT WAR.
Youthful Bocrs Arc Anxious to Get
Into the Fray.

Youthful Beers Arc Anxious to Get
Into the Fray.
CAPE TOWN. Sept. 17.-Further tel
egrams from Pretoria to-day confirm
the forecast Of the reply of the Trans
vanl to Great Britain. which does not
accept the demands Of the British gov
ernments as whole. Great excite
ment prevails at Pretoria over the con-
sequences which may ensue.
Tho young Beers are asking to be led
into the field Immediately. It is lmpossi-
bic TO predict what viii be the sltua-
ton after the delivery Of the reply In
London. The feeling here is that It will
be impossible for the imperial govern
ment, and undlgnlned on its part. to
again enter upon an interchange Of mr.
gumenta. Tho Royal Munster regiment
has arrived here.
The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1899-09-18
PARIS EXPOSITION.
WIN Be no omciaI Boycott BY En-.
Rland-Dreyfnsv Case.


glnnd-Dreyfasv Case.
LONDON, Sept. 17.-while many In
dIvtdual decisions to boycott the Paris
exhibition continue to be announced
there is no sign OF any official action
upon the part Of any country. The
spectator says: "The trading classes
implore the government to withdraw
from the exhibition, which is impossible
because 1t implies interference in the
internal affairs Of an independent state,
and they also threaten to withdraw
their own exhibits, which is futile, as
their competitors VIII Immediately ac-
cept the vacant places"
A dispatch from Paris says that
Dreyfus is to be pardoned next Tuesday
and that the following semI-ofIcIal an
nouncement was issued there to-day:
I'm consideration OF Dreyfus' health,
which is daily weakening, Premier
Waldeck- Rousseau has requested the
family OF the prisoner to withdraw the
appeal for revision.
This will facilitate the granting Of a
pardon which, under these conditions
and solely because another months
confinement in prison will mean the
accused's death, will be signed next
Tuesday"
The Indignation over the verdict here
seems to have somewhat subsidized. This
Is doubtless due to the rumors Of his
probable pardon. Esterhazy is staying
at n hOtep on the Island of Guernsey,
practically in hiding. for he spends HIS
days in his room, only venturing out at
night II is said that the feeling Of the
channel islanders toward him is by no
means friendly.
In Belgium the Dreyfus excitement
has resulted in the issuing of pictorial
prominent figures In the Rennes drama
and even reproductions OF the hand
writing Of Dreyfus and Esterhazy.
The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1899-09-18

To be bound hand and foot for yenrs
by the chains Of disease liz tho worst
form OF slavery. George d. Williams.
OF Manchester, Mich, tells how such a
slave wnR made free. He snys: ',My
wife has been 10 helpless for Ave yenra
thnt she could not turn over I'm bed
aIone After using two bottles OF Eler.
trio Bltters, she Is wonderfully i'm
proved and able TO do her own work Z"
This supreme remedy for female dis
eases quickly cures nervousness, slccp.
lessness. melancholy, headache, buck-
ache. fainting and dizzy spells. This
miracle working medicine IN a Eodsend
TO weak, slckly, run down people. Every
bottle guaranteed. Only 20 cents, Sold
BY Logan Drug Co, druggist
The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1899-09-18

WASHINGTON, Sept. l5.-Frlends Of
Louis Lnnge, late United States consul
Mt Bremen. have been In communication
with the state department regarding
the statement published In Il German
newspaper to the effect that Mr.. G.ange
ascribed his retirement to the fact thnt
he had published nnti-lmperlallstlc mr.
tlcles In the newspaper to which he is
attached In this country. The depart-
ment cabled Mr.. Lnnge upon this sub
feet, and he has. II is understood. re,
pIied with q broad denInl,
The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1899-09-18

The finest quality Of loaf sugar IL
used In the manufacture Of Chamber.
inin'a Cough Remedy. md the roots
used In it's preparation give It IA favor
similar 10 that OF maple syrup, making
II very pleasant 10 take, ~ nedl-
Gine for the cure Of coughB, colds. 70
grippe, Group and whooplnE cough II n
uneduhlsd by amy other. II always
cures. and cures quickly. For sale BY
druggists,
The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1899-09-18

DOVER, England Sept. 1.-THE pres
ident and about 800 members Of the
French Association for the Advance
ment Of Science arrived here to-day
from Boulogne- Mer, on visit to
the British association. The cordial re-
ceptlon showed the British association
did not sympathise with pro-Dreyfus
RonII1U
The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1899-09-18

This is not promising situation. I'm
expectedIy, we are brough: to condi-
tlon Of things in which the national
property threatens 10 be SERIOUSLY
crippled through the legal restraints
upon our banks, and by the lnslast!cIty
Of our currency arrangements.
What, however, most concerns Wall
street at the moment Is not so much
that we are confronting a theoretically
faulty system Of finance as that we
stand face % face with a delicate and
difficult anacI9l situation. Two mil
Mons OF surplus reserve and s to per
cent for coal loans at the middle OF
September are ugly and dIsquletIng
facts. The situation comes so near to
n deadlock that there must be some
yielding somewhere in order to avert
very unwelcome conditions. It would
be irdulglng a frail hope to expect eff
fectual relief from importations Of
gold. The situation Of the foreign ex-
changes hardly suggests such a proba-
bIlIty. A fall in the prices of securities,
or cotton, or cereals might 50 stimulate
exports as to bring exchange to the
gold importing point. but who would
desire to see gold procured at such a
cost? And relief could not come from
such a source until 1t was too late to
be Of much service. Nor is 1t possible
for the secretary OF the treasury to nt-
ford any help to the situation beyond
preparing some E5.sOoOOO of interest due
on the first OF October; which, though
relatively small palliative, would be a
valuable aid under the circumstances.
Much, however, may be hoped from the
resourceful expedIents Of the banks,
which were never stronger or more eS-
fectlvcly administered than to-day, The
hedglIng corporations which. pending
the recent extreme case in money, OBJ
talned certain recognition among
lenders. must expect to take care of
themselves; and the relief from that
The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1899-09-18
FINANCIAL FACTS:
Wall: Street Passing Through
Pfehature EqGinOetial Gale.
ELEMENTS OF DISTURBANCE.

Finance has Encountered Foreign
Obstacles to which There Can be
no Aaectatton of Indiaerence-T The
Situation calls for Caution, butt Does
Not Warrant Alarm-WoOl Market
shows Considerable Strength.
The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1899-09-18
IN LOOKS OMNIBUS.
England is Making Every Prepare.
ton for War.
TROOPS LEAVING FOR AFRICA.

Tho Situation at Present Is Hinged
with a Warlike Fue-An English
Navy Captain Pays a high Tribute
toAdmlrnl Dewey The Manchester
Peace Meeting.
The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1899-09-18

The situation caili for caution but
does NOT warrant alarm. It affords lit
tie reason for expecting upward reac-
lions in securities in the early future,
but neither does It justify any Incon-
tlnent realizing. When the cOmplica-
tons have had their worst effect upon
the stock market, basis win be laid
for recovery in values that can hardly
fall to result IN a very active "bulr'
campaign. Upon the whole. sharp
squeeze IN the money market would
have important compensations.
HENRY cLEWs.
The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1899-09-18
Special Correspondence Of IntellIgepeeF.

Special Correspondence Of IntellIgepeer.
NEF YORK, Sept. ls-wail street
seemi % be passing through a some
what premature equInoctial gale.
Trained observers have seen the signs
OF Its coming and have prudently held
In their sail; but to the majority the
storm has been unexpected. and they
are taken unawares.
The elements Of disturbance are few
and simple, but they are mot easily con-
trolled by ordinary trimming tactics.
Finance has encouraged foreign obsta-
eles OF kind to which there can be no
anectation OF indifference. The African
question has lost none Of It's acuteness
and may, at any moment, become an
element Of serious disturbance at the
worlds chief money center. The semi
revolutionary condition Of France and
the continued agitation Of the Dreyfus
question are factors which impose
more or less restraint at all the none
tary centers ofEurope; and these joint
dangers appear at time when our for
elgn financial relations are surrounded
with some uncertainty. SO that we can
not well estimate the bearings upon our
exchanges OF any adverse happenings
across the Atlantic. We .cannot be GER
tain. that anything now remains to our
credit Of the large balance arising from
our extraordinary surplus Of exports
over Imports: on the contrary, there
are Indications that the return OF our
securities has about lIquldated that ball
ance, and we have for some time been
closely verging upon the possibility Of
an outflow Of gold to Europe.
Whilst these external possibilities
confront US, the condition of the home
money markets. not assuring. TIE ex-
traordinary revival Of business has
caused a corresponding expansion of
bank loans and has at the same time
Increased the demand for currency in
the retail circulation. With banking
system that indirectly compels the
banks to augment their stocks Of law
full money In proportion as they extend
their loans, we are brought face to face
with an acute scarcity in the circulat-
ing medium. The universal employ
ment Of the working classes at rising
rates Of wages, the increased holding
of cash among country retailers, and
the rapid rise in the prices Of goods.
have conformity produced necessity
for an expansion of the volume of
money; and this need makes itself felt
at the moment when the banks of the
interior ARE drawing their deposits
from the metropolitan banks In order
to facilitate the marketing of large
crops Of cotton and cereals. Unfortu-
nately, we have no effective resource
for increasing the amount of the money
circulation In order to satisfy these
necessities; and the result appears in a
reduction of the cash reserves OF the
New York banks to close upon the
"dead-line." at point about midway
in the usual fall effiux of money to the
agricultural sections.