The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1903-06-13
LIQUIDATION OVER.
The Financial Age Sees Signs Of the
End Of the Present
Movement.
INDUCES in Some Irony at the
Expense Of Western
Bankers.
LIQUIDATION OVER

LIQUIDATION OVER
weekly ssT Y ts1sy June Easncia
less volume and with an occasional cessation,
to this Mee By % In i
prices, however, bore number of earmarks Of
aaG sp dives ana by tse
interest which is being reinforced daily BY ad.
dgrunted holders to THROW na stock
Those whose bank accounts warrant show no
disposition to dispose Of their holdings, and
the present liquidation Is confined almost exclu-
siyely to weakly margined accounts, which the
bears" have been unusually successful in To-
eating.
This liquidation cannot continue much longer
at the present rate, and the position of the short
ment. There Is evidence that even now low It Is
sisted in bringing the market to n lower s level
from UNDER
"ouR WESTERN HAILuo1NAT1oN.,,''
Western banker INDUCES his annual haIiuctna.
ton regarding his independence Of the Eastpand
ent Every summer the S daily and ananeial press
| contains scores Of interviews with Western
that the BANKS 'f in o that ss are better
pared than ever to handle the crops, and that
Of s so ese int
occasionally, wind up with an editorial comment
Front the ws af tn Of the ess
region. Last year more than usually pro-
life Of this sort OF buncombe, and many usually
we'll informed commentators We're deceived BY
the apparent confidence of the Westerners. This
may have been true even Of New York bankers,
who at all events were unprepared for the heavy
drain of the summer and autumn, and the CON
sequence was the stringency in the money mar
rency was transferred through the b-treasury
to Chicago, New Orleans and other western and
He Of iso and as much dur
ing the season Of 1900 Claims that the outgoo
tha hat records
show the drain this year will be no less than it
usually is Unless the cash Of wsst
materially since the April call Of the comptrol-
Ter, there is but little difference between the
figures of this year and OF the corresponding
period in 1902
CONDITION OF NEW YORK BANKS.
Cash holdings Of the associated banks Of New
"a are 1S
years ago. and about $4,000, 900 less than 1900.
EaFes may BE tPsst
companies comp from the Clearing House, but after
making a most liberal estimate Of the amount
evident te that the local institutions are not as
well prepared for the crop moving period as
The extensive liauidation in the stock mar ar
ket, however, will do much to strengthen th ne
that there Will be no repetition Of the unwar
ranted speculative movement OF iast snnm el
t 1s 1aiy as we'll are unateraby opposed to
"bulr' market at present: The 9 pan so are
against 1t because OF Its 1nnuence on Tue nonei
! tary situation, and spectators realize that II
| would receive no support from the outside pup-
lie.
| The government crop report indicates yield
of 7sO, 900, 900 bushels, by far the largest on
record This is an Unexpectedly heavy yield,
especially In view Of the fact that crops have
| been materially damaged by the recent floods.
LABOR OUTLOOK BETTER.
| The labor outlook continues to furnish evil
dences of Improvement. Perhaps the most sig
| niacant feature Of the weeks events IN TINS
unions from the building trades organization In
New York. This action was based on d1ssatis,
| faction with the management Of the central
body It is healthy sign when labor refuses
| to indorse unM1se leadership. go -