Evening bulletin. [volume] (Honolulu [Oahu, Hawaii]) 1895-1912, 1902-10-28
BANKERS(0NStRVAT|Vf
HENRY CLEW'S REVIEW OF
MAINLAND CONDITIONS
NEW ECONOMIC PROBLEMS LOOM.
ING up UNEXPLAINED
SPECULATION
PASSED.

New yorp 10, =, wall c,.. l..
having Tho nenol,ios ,or ovoo.aa. :,
tho las, twelve ,on,hs EorooI 1T
dation upon n verv ovto,s,,o col 30.
been going nm for soyoraI ,,ooI'a 90
ticuIarIv In s,octs With haa 49,, pa
vanced bv sevoroI uo,, ,,,o,., ,,,oa,,.,,
i clioues whose ao,,,i,io, hod ,ua.,,,.
" been n subiec, NJ ,,o,dor a,d ori,I
cism AnnarentIv tbosa .on,tonon
had not sunficientIv nrotected then.
selves against tho ,a,, r,ono,ar,, s,,in
sepoy. Cali money was shorn,,, ,.i,L
drawn and ma time Ioaps r,o,,,rod ,ho,,
could not no renewed unon tho oId
terms or upon tho old collateral panL.
ers found good and moro Io,i,imo,o
employment for tbeir funds In ,ho ne
ual crop and trade demands and roe.
olutely set Themselves q, onnos,,io,
to continued fostering NJ rooLioss snoo-
ulation. Al last New york hanLs
found n IN their common in,oros, 90
nut a check upon the nlurgino onora,
tons which have recently cbar,ctor,z.
ed the transactions of certain cI,,nos.
and this thew have done nona TOO
soon. in n manner and With an o,,i-
CHENEY that deserves tho tbanLs NJ Tho
entire financial and hus,noss oo,,,,,,
nity. New YORK hankers with thoir
vast contro, or credit have n nowor Of
restraint unop snecuIatiyo oxcossos
which no other bodv or mo, nossoss.
and tbeIr breadth or ,,Ioy annoror,I,.
convinced ,bon, tho, tboi. our tn,o,
es,s ,ro hoe, oonsor,,od h,, ,,i,a,,,.
acting for nuhl,c wo,,aro uod 4, ~,
boen for tho consorya,iyo ot,itudo ~
tho honl,s s,,,,,,,Ia,od 80 -, -,
awkward mono,ory oo,d,,ions and
serso or soI,.nrooorya,,on 600 sho,IJ
M dorh, ha,,o ,.,,,, in,c n Iii, 80 ,,a
a., sroo,,ta,io,, ,,h,oh ,,.a,,i, - -
cd IN promaturo nonIo and d,sos,or AZ
4, ,s nrosor, I,,nido,ior ,,,,It oIoo, ,ho
financial otr,os,horo. a,d ,,r,Ioa,o,,,
conseouoncos ~ snob ooor, n,,tI no
confined IN wall Stroo, ins,ood -,
srroading into tho chon,oIs -, ,raao
and irdus,r,,
Tho none, or,looi, 10 Ia. M ,oo,,
set,Iod Much roIio, hos hoon oeord
cd no tho boo,,, ,Iouida,,o, 4, s,ooI,,
I'm, tho ,onsior I. IIloIv IN los, With
orootor a. Ice do.roo ,n,iI ,ho on.
of tho voar Eurono hos d,oonnoin,od
II. in No, sordIro cola IA h,ild an o,,r
donIo,od honI, rosor,,os Annaron,I,,
fore,,n h,nkers aro of oninion tho,
tbev have made annie advances IN
American borrowers and that n ,,r.
thor extepsiop nj credit In this dIrec.
tiop ia undesirable in Wow NJ tho spec.
uIotIve temnor bere paris Rer,i, and
.ondon all of which vare In n nosi.
ton 10 snare A few millions sterling for
the limited States have changed tbe,r
attitude towards this market and rails.
cd the terms on which we could jmnort
more gold IN nrohibitive noints A
few millions have lust arrived or are
about dine. but this will he ouIte insuf.
ficient 10 afford any substantial relief
Even tho Treasury aftor exbaustinp
almost every resource is unable to
give the desired assistance A forced
contraction In loans ia tho only rom.
edy nainruI as n NAV he for denIetod
hank reserves. According tn the last
official returns the loans in tho 600
National hanks in the United States
IN Sont,mber IL stood at 81 $50 600.
COO an increase of s26l, 900. 900 over
the high figures of 1901. During the
Same period there were decreases of
| 500 OOO. OCO in specIe. 80. 200. 900 in le,
gal tnders and $500. 900 in National
bank n,tes. No better reason for
drawing i'm the purse strings need to
be produced.
Railroad earnings continue to show
remarkable gains; partly a result of
heavy wcstbound traffic which usual.
" commands high freight rates. Net
earnings, however, are frequently not
so satisfactory as last year: the high.
er cost of materials. the increased cost
OF operatIng and the advances in wag-
as all making heavy inroads into prof.
its. Very likely the railroads are not
III, ,pIy ,nn,arns fooIiny tho affnrt :