The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1903-10-31
In the Business World,

. The long overdue money movement
fl ON east to west is at last under way
and currency shipments this week
We're considerably larger than at any
previous time this season. The move
ment was augmented by some round
sums sent from New York to ST.
Louis Reports Of these larger money
shipments coming coincident with the
financial unsettlement in the latter
center, were at first thought to be in
some manner deeply significant, an
idea not discouraged by the bear OPP
orators in the Wall street district who
thought to make capital of the appar-
ent turn for the worse in central west
financial affairs. There was a natural
disposition, duly increased by the Cos
sip Of the alarlnists, to see close con-
nectiOn between the suddenly in
creased movement of money to st.
Louis and the runs upon the savings
departments Of two of the larger trust
companies. But. as. a matter of fact
there was not much foundation for
this surmise, and with fear al1ayed
the excitement subsidized, and there
were fortunately no failures or sus-
pensions to aggravate thu situation.
Money transfers. for the week were
by no means heavy, but rather some
what under the average, vet since
they have been unusually light so far,
a moderate gain makes the total look
large. Chicago has drawn upon the
New York sub-treasury for less than
100000: compared with $5,500,Oo0 to
this date last year, and total ship
ments to interior points since July /
are only $S,60O,0OO" compared with
$13, 100000 in" the same period in
1902. This has resulted in part, at
least from the operation of the plan
evolved by Secretary Shaw last sum-
mer, of anticipating requirements in
great degree by heavy deposits of gov
eminent money in western banks In
the south, where there have been
practically no increases in govern
ment deposits, money has been re-
quired in volume about up to- normal.
and more than ~ average quantity
will probably be led ultimately as
the south has high, cotton this wear
With more money required to handle
it. -. NJ. rig .st.s - =
Discussion Of the recession in in
dustrial activity has passed: beyond
the plants and the manufacturing dis
tricts directly affected and has been
taken up more, generally by the rail-
roads. Lines east Of Chicago admit
that merchandise is moving in small.
er quantity, and western lines say the 4
traffic situation is not SO strong as
last month. There are, nevertheless,
car shortages more or less serious in
several western states, and Z. grain
shippers in Minnesota and the Dako- (.
tas are in some localities Offering
more tonnage than the roads can
handle expeditiously, while in Mime
apolis there is some difficulty in get
ting cars as promptly as desired.
When navigation closes and the heavy
lake and rail business is diverted to-
all rail lines, some difficulty is likely
to be seen, but it is believed that this
year there will at no time be serious
COMPOSITIONS Of freight or3car shortage,
for which shippers, with the expert
ences of past seasons fresh in mind,
will be very thankful. 6S
Railroad earnings are holding UP,
the third week of October showing al
most s per cent gained over the cor
responding week of last year. in the
gross receipts Of forty-three roads,
while one large western system shows