The morning news. [volume] (Savannah, Ga.) 1887-1900, 1899-10-16
Total interest, November
- Th1vr

Ill | -
The interest due on Nov /, amounting TO
81. 363. pa payment of which begins with
Monday. the 10th inst, may be eNpecleu
TO he collected promptly; ands as a large
uroportiou of the disbursements VIII lhu
their way TO this center, an appree'aoie
relief to the local banks viii result, Whlch
may be expected to appear In next week
statement. During the succeeding eleven
weeks bondholders will have the option
OF collecting interest In advance maturing
IN to July /, 1907 but it seems doubtful
whether that privilege will be awaited OF
TO any large extent on the interest que
during the first half of 1900, the treasury
imposes rebate for advance payment Oh
oue-fifth Of one per cent. perpnonth, Which
on the July item would amount 70 L'
per cent of the interest 1t is an open ques-
ton how far the treasury's offer may pc
accepted in respect to the interest matuf-
ing on Jan. ! next, amounting to So,o9o,oZo.
The rebate upon il would be three-illti ~
of one per cent, if the demand was Haoe
before Nov /; and the Willingness OF
bondholders to pay such rebate Wouid
deDend principally upon the condition Oh
the money market 1t does not seem likely
that much of the January interest Woulu
be collected unless the market rate Tor
money should continue persistently hlgh
for some time to come; ana that does not
appear very probable.
1t would be entirely eXcepuonal 20 eNpe-
rience if a considerable proportion of me
money sent to the interior did not ma its
WaV back 10 New York in the second
half of November and during the interval
before that the loan market would be
growing gradually easier from receipts of
currency. 1t therefore seems quite pos
sible chat, in respect to the January in
terest, bondholders may prefer waiting Tor
It's receipt in due course to paying a con-
siderable rebate for getting it earlier; the
more so as the immediate disbursement
of the November interest can hardly fan
to afford a quite aDprecable relief. IL
however, the money market should remain
unexpectedly stringent, The five and haif
millions of January interest is within reach
at the pleasure of the bondholders, and
lenders may be found willing to pay the
rebate in order to be able to use the money
at high rates. This is an important stay
| against further apprehension
At the time of writing war between Eng
land an the Beer republics has become a
certainty through Kruger's foolhardy ultl-
matum. The notable fact that the event
has been attended with little or no ng-
gravation Of the financial situation in Lon
don shows that the worst outcome of the
warlike contingencies had been discount
ed in advance. In fact, the ending of the
suspense seems to have brought relief
rather Than aggIaVation. This war con-
tingency he's been cloud Overhanging the
situation both in Europe and this country
for quite long period, and so far as we
are concerned it may be considered as hav-
ing been fairy discounted. The way in
which we would he most affected would
be by the stoppage Of gold TemittanceS
from the TransVaal 20 London, which last
year amounted to S62,0000e0. If England
does not get these rcmittancvs 10 strength
en- her gold supply, it viii make il almost
impossible for this country to draw much,
if EUFOnp me3uWhilQ
il will be resisted by the Bank OF England
and continental banks; consequently We
are liable 10 get in payment for any com
nercial trade balance due us a return Of
securities instead
The population of the Dutch republic
numbers 100000 people of which only 300
| 900 are whites, including 225, 600 Outlanders
or foreigners; which makes President l<ru-
gers ultima tum 10 Great Britain a very
bold step to take, and apparently a very
weak one, considering the greater power
in money, men and weapons that his mea-
ger army will have to contend with. The
| outcome, providing II is confined 10 war
between the Dutch republic and Great
Britain. is easy to forcsce. IL can but re-
suit in q crushing defeat TO President Kru-
ker and his seven associates, who are
really the government Of his little nation.
In the event Of any European nations be-
coming involved, which some anticipate.
but is not very likely, it, of course. be-
comes a different matter. should France,
| Germany end Russia become involved by
| any possibility, the effect will be not TO
| put down American securities, but to
| make them SO sought for By foreign in
vestors as TO advance them instead. for
| the reason that this country Is so far re-
moved from the contest and less likely
| to be involved than any other, thereby
making investments in this country safer
| than any other while the war lasts. The
|
fair, and for that reason it is not probable
| that the interruption OF the African gold
supply will preciptate any really acute
financial results. And, in any event, We
arc having large current increase in
our home output. while the current Klon-
dixie supply Is variously estimated at from
S2D.gDe00 TO S30000,000 per annum.
We're he African output suspended for
SIX months, 1.-THE worlds supply wound
still ABOUT equal chat OF two o. three years
ago. 50 far as this country is concerned,