New-York tribune., 1901-05-12
LONDON FINANCIAL REVIEW.
MONEY ABUNDANT-EFFECTo OF THE WALL.
STREET COLLAPSE

London. May l1.-Money was abundant and easy
to-day. partly owing TO the bill brokers' indisposi-
zion TO do business Fixtures over Nav II how
ever, were In strong request Discounts were firm
and were strengthened by the quotations at which
the Treasury bills taken, together with the
possibility OF the withdrawal OF American can,taI
from here the result OF the IN the United
States
Business the Stock Exchange was more
cheerful. In consequence Of the Improvement In
Americans Operators were hopeful that the worst
OF the crisis was over. Though the fears regard
ing the settlement were not past they were soroa
what allayed by the belier that the difficulties viii
not equal previous expectations. II is thought I'm
some quarters that very small account will be
carried over owing to the forced closing OF the
last few days. Americans fuctuated considerably
closing weaker. No further changes are exnectad
before the making up Of prices, fixed for Monday
at noon. The settlement OF mines though IN
some Instances difficult 10 arrange was satisfac-
torily accomplished.
The plenitude OF money through free eovern
ment disbursements, the accumulation of funds
preparatory to the settlement and the meeting OF
the balance OF the f24o0oO nstalments of the Con-
soils loan. May Il, enabled the market to redeem
Its Indebtedness TO the bank. Events I'm New-Yor,
ana the Impending Russian loan, however firmea
discounts. The dearness Of money I'm New-York
combined with the panic is regarded as an effect
ual stopper OF considerable gold imports from
there The suddenness and severity OF the coll
n 10
precautions and import gold New-York from
Europe to meet the certainty OF the great deman
for money had the immense speculation continued
one effect OF the panic. THE Statist" thinks will
probably be to diminish greatly the demand for
money in the United States. and the ensuing ar
cumulation OF cash In the banks may dispose
American bankers to leave their balances abroad
Therefore, the danger of ultimate gold shipmants
from London to New-York is reduced
Regarding the important bearing which the Rus
Of fsn
market THE statist" says:
As portion OF the balances Of the French banu
ets IN London Will probably be required To hhanc.
she forthcoming loan further decline in EXCHANGE
~ hkely. resulting In gold shipments. In view ~
,he position at New-fork not likely IA se-
cure gold from America for some time conseouent
y We may have to meet any demands unt,n ~
from gold now in the Bank of England or en- rorta
from America, India and Australia. Thourh ths
easlness OF money In Berlin may possibly diyert
p1ruon or the French demand to German IL Is moi
Wlse 10 rely upon this, consequently there Is no
prospect OF easier conditions In London rnonav
market at present. rendering a reduction 81 M
nank rate out OF the question. Indeed should ths
RUSSIAN loan INDUCE French bankers TO call I'm bai,
money from London or the position nj Newyarr
INDUCE Americans 10 withdraw their money fro,,
london. an advance In the bank rate wouia -
course, be necessary 1' vi
Commenting on the revelations of the Eoard =,
Trade returns, THE Statist" remarks:
For the last year the excess of imports ovs, 80
clu6ing the value OF the new ships AGAINST t,ss