The Washington times., 1901-11-03

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the railway business. is an excellent
barometer Of general trade
OF the Norttfafsl Pacific matter it need
only be said thst, the-sftuation is reported
by insiders to he entirely satisfactory. A
settlement that all will be willing to
agree TO is likely to be. arranged at any
time in the near future. There was much
rumor during the week of an immediate
announcement regarding the settlement.
but the failure of such an announcement
has not produced any disappointment In
conservative quarters because the story
was not credited when put out. Other
railway deals of Importance are under
consideration. and may be announced at
any time The Chesapeake and Ohio Rail-
way Will go into The coal business IN a
large way If the facts have been reported
correctly. 1t is arranging 10 buy up
large block of coal lands along its line.
and will be in a condition to control coal
prices and freight prices, and to increase
output heavily and with much profit.
There is still talk, and based on good in
formation too that there will be a deal
among the vanderbilt properties in the
near future Some people expect to hear
its announcement as soon as w. n Van
derbilt returns to New York
Financial conditions are somewhat un-
usual and somewhat complicated. but
careful people are not disposed TO consider
them at all alarming, on this side
Of the Atlantic at least. The Bank OF
England has increased its discount rate
to / per cent a jump Of / per cent. where
only u per cent advance had been ex-
pected. The price OF British consols Is
lower than IL has been at any time before
in the past twenty-seven years, or since
1874 and there is no certainty that 1t Will
not go lower. The lack of confidence
shown by these facts emphasizes the oad
condition of things in Germany and
France. The need of gold In the latter
two countries. and the unwillingness OF
Great Britain TO part with the precious
Hkgr. si4HH a
be a strong demand on this country.
The fact that the exports of cotton
and corn this year have been far less
than expected by the financial world, with
the plenty OF gold on this side and the
ease Of money rates, accounts very sat
isfactorily for the exports OF gold that
have taken place and for the probable
continuance OF this outflow during the
coming week But the export Of gold
need not be considered "A very serious
matter surely, when it IS based on
superabundance on this side, and when
IL is known that il will be stopped at any
time az soon as money rates are ad-
vanced by lack of money. As matter
of fact, although cotton shipments have
been delayed, they will be heavy from
now on without doubt and this fact alone
is likely TO stop the gold shipments
On this side two developments of great
importance have occurred during the
week in the financial world. The return
fow Of money from the West and South
has begun and the banks gained from the
interior during the week for the flrst
time In more than two months. IL Is
expected that the receipts VIII be heavy
from this on. The Secretary of the Treas
ury has again made his offer to purchase
Government bonds and already II has
been responded to by considerable offers.
which have been accepted by him THIS
avparently ensures gains for the banks
from the Sub-Treasury as well as from
the interior. If these conclusions OF the
financial experts are correct II VIII De
seen that yesterdays bank statement VIII
probably be the last one to show poorly
this autumn and winter The purchases
Of bonds on Friday and yesterday did not
show in the bank statement, of course.
The statement figures We're poor, but not
as bad as some OF the experts had eK-
pected They were as follows:
Loans increased ..............--..... I,'5s8,zVO
Specie decreased ,....-..-,.---...-.. 4,5t9,Ip
Legal tenders increased. Llio.5VO
Deposits increased .--......--.....--. 5,.'o6'sSS
Circulation increased ...-.-......-.. IL, foo
with business conditions good. and
with the promise of easy money In the
near future. II is not surprising that the
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