Aberdeen herald. [volume] (Aberdeen, Chehalis County, W.T.) 1886-1917, 1903-01-19
TO THE w EST
NATIONAL ECONOMIST GIVES 40.
VICE. WESTERN BUSINESS.
While Financial Outlook is Encouraging, in
Eastern Circles the West is Advised to
Keep . Finger on the National Pulse.

things both in commercial and financial
circles that is well worth the study Of the
Western Business Man.
Taking New York and Chicago as the
center OF observation it shows the fol.
lowing state Of affairs:
The New York banks show $45, 900, 900
less Of deposits than year ago, but the
Chicago banks have scored an increase
OF $33 .O00,0 900, and the amounts not
shown in the banks at central points are
distributed in all parts Of the country
where they were more needed at the mo-
ment. The National banks of the United
States have individual deposits nearly
5000, 00O, 900 greater than a year ago, and
if the figures OF the state banks and pri-
vate Institutions were available it would
probably he found that an almost similar
increase has occurred there. The high
rates for money in New York, and Chi
cago cannot be understood, but they
have no alarming significance, and the
full rates throughout the rest OF the
country simply indicate the business is
so active as to take up the available sup
ply. 1t is not worth while for anybody
to count on a further governmental ac-
ton as means OF relieving the market
AS for currency reform it seems unlikely
that any serious effort will be made at
the present session OF congress to pass a
new measure. Dependence must be
placed, therefore, on the normal course
OF events, which experiences shows is
creative of new capital needed for bust
ness operations. Large additions to the
money supply are being made from the
gold mines, which will soon be greately
increased from South Africa. The amount
on the ordinary run OF public securities
is figured at nearly $139, 100000 in New
York, an increase Of about $4,000 900
over the total OF year ago and the
largest in the history Of the county.
Something like $50 ,O0O, 900 is distributed
in Chicago. OF course these payments
do not add anything actually to the
capital of the county. but they place the
money where it may be used for ordinary
purposes, and it is a matter Of expert
ence that recipients of dividend and in.
terest money soon seek channels of rein
vestment for large percentage thereof.
1t must be admitted, however. that the
changes of the past week have been
rather in the direction Of higher rates.
In New York call money has been high,
frequently reaching Is per cent and
averaging we'll above 6. Time money
has, however been comparatively easy,
with quotations at per cent for short
terms and 51s 10 & for four to six months.
The anxiety respecting gold exports
from this country which has Prevailed in
the past few weeks proves to have been
without due cause. No doubt it was pro.
NOTED largely by the leading tinancers
as part Of their policy OF keeping the
New York stock market down. Com
mercial war within the nation and be-
tween the nations is succeeding war with
the sword. One might add that war
within the corporation is another charac-
teristic, for demands for increased wages
and the strike have been conspicuous.
The truck teamsters, OF Chicago, have
effected settlement with their employers
which gives an increase to each man OF
about $l.75 per week.
Competition is pressing from Europe.
the importations OF iron and steel being
the largest for many years, but the home
market is steady and the demand for
product quite as large as heretofore.
Copper is stronger and lake may now be
quoted at a full IL cents per pound in New
York. A financial publication, whose
figures in regard to this metal are consid-
cred authoritative, finds that the produc.
ton Of copper in the United States in
1902 was 295.205 tons and the exports
169,635 tons. According to this authority,
the year 1902 began with stock OF 1885,.
600 tons in the United States, which had
been reduced to $500 tons at the open
ing OF this year. The statistical position
of this metal is therefore improved after
many vicissitudes. And this is an inn
portant matter in more ways than one.
The report Of the foreign commerce fol
1902 will show a balance in our favor
nearly $500, 900 900 less than for 1901, but
that balance will still be very large COM
pared with those of few years ago. The
exports Of manufactured articles for No.
vember were not particularly satisfactory.
The value was $3O,513,5l2 against $780,.
l54,S95 the corresponding month of las,
year. The proportion Of these exports ia
all exports, however, was 24.77 per cent
against 22.43 in November, 1901. For
eleven months there is moderately good