Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1902-08-15
WEST HAS TIE MONEY
Bankers Will Not Need Aid
From the East to Move
Crops.
No Fears Of Panic OF Even
stringency in the
Market.
Western Bankers Interviewed or
the. situation-Friends AD.
pear Plentiful.

New York. Aug 15.-The one import
amt subject in financial circles at pres
ont is the question as to the immediate
| effect of the big crops on the money
market. and whether the expected and
robable demands on the New York
banks for money with which to harvest
and move them will cause such a 1inan-
cial stringency as to bring about an
enforced liquidation in the stock eX-
change securities market
The concensus of opinion of the local
New York bankers, both foreign ana
domestic. is that there is no need for
apprehensien. that. Notwithstanding
/ the low surplus reserve of the associa-
ted banks. $9.Oo0ooO last week, all the
money necessary would be forthcom-
ING, as ample preparation had been
made for all possible needs in that a.
rection. and, furthermore, that II the
demands from the country became ur-
gent and in such volume as to threaten
unGuly stringent conditions here. so as
to upset security values gold couid
easily be imported in sufficient amount
to afford immediate relief. ana not OILY
that. but the banks here We're prepared
to take out additional circulation to an
amount thai would be ample for all
needs. OF course, an opposite view WITS
taken by one or two pessimists, who
pointed to the high prices prevailing
Tor some ock-eXehange securities. III
justification of their representation of
- money-marllet panic, but they found
little or no support for their gloomy
views. on the other hand the bank
ors, Mho said there would be money
enough for all purposes. said that the
banks in the west. etc. and particularly
in the reserve cities, We're better pre-
pared than ever to supply the caSh
needed for crop movements In order
to ascertain the facts on this last mead
and to bet the prevailing opinion of the
bankers in the west and south on the
subject. the following query was tele-
graphed to some of them: What is
Your opinion of the monetary outlook in
connection with probable demands for
money for crop moving? Will your 10
cal banks require assistance from their
correspondents in reserve cities. and to
what extent, if any? How far can the
demands be met without help from
New York ?"
The replies to that dispatch fully COR
roborate the opinions of the majority OF
the bankers in this city on the situation
as already outlined. Thus Mr. Forgan.
of the First National Bank of Chicago.
SAWS Il believe all demands can be
met without help from New York other
than later on some shipments of cur
rency against balances
A Sioux City banker says: This part
of the west is practically independent
of the east"
Kansas City says: "The larger crops
can be handled without calling on the
east for any funds
Minneapolis is of the opinion that the
"western banks will furnish a larger
former years.
Omaha is of the oninion that the
eastern banks will not be called on for
assistance" while the increasing salts
factory condition of the south is shown
by the statement of the president of the
whitney National Bank of New Or
leans. to the effect that their New York
balance will exceed amounts borrowed.
and the statement of the president of
the Peoples Bank of Mobile. Ala. that
that section of the country will not
need much outside assistance.