The daily morning journal and courier., 1906-02-10
RUSSIAN FINANCIAL
 OUTLOOK BRIGHTER
TIDE OF GOLD SETTING BACK INTO IMPERIAL BANK
 COFFERS.

SARsS OA UoNeHMment, ana Especially
 Those from the Railroads, Are on the
 Mend-Tension Which Was Recently
 Causing Supreme Anxiety Continues
 to Relax-Inorease of Nearly S2O.-
 O0O,O00 in a Week in the Stock of
 Gold in Hand shown by Weekly Re-
 port of Imperial Bank.
 St. Petersburg, Feb. 9--The tide of gold is still settling back into the cof- fers of the imperial bank. The receipts of the government and especially those from the railroad are on the mend. and the tension of the financial situation which recently was causing supreme anxiety, continues to relax. The week ly report of the imperial bank covering the period from January 29 to February shows an increase of nearly $200O0. .00O in the stock of gold on hand. The amount of paper money accumulated In the vaults of the bank increased dur ing the week to SAY, 100000. This cur- rency the treasury officials expect soon to put into the furnace and to retire definitely from circulation another S12,- 5O0,000 worth of notes.
 We feel that matters are now on the mend, said high official of the rnin- istry of the interior, to the Associated Press to-day "though We realize per- feotly that the situation is still serious. We are by no means out of the woods yet Everything depends on internal conditions. A serious resumption of disorder would throw us back again: but if the revolutionists give us a breathing spell we see light ahead.''
 The net increase of gold on hand and the return of deposits to the savings banks, much of which is in gold, the official considered to be the most en- couraging features of the situation next to the increase in railroad receipts. During the recent disorders railroad traffic was almost completely paralyz- ed cutting heavily into the govern ment's income as well as crippling the trade and industry of the country. Traffic is now being resumed, though it has not yet reached normal propor- tions.
 The Imperial banks balance sheet shows q decrease in loans, which is con- sidered favorable sign, attributable to, the high rate of discount charged .s}sss. sssss the Imperial bank, which is g per can't for ser1ni-annuaL loans and per cent. for time loans. The Moscow bourse committee has requested the govern ment to reduce the rate, pleading that, while the high rate was justifiable | when there was no free money in the country it should now be abandoned as hampering the discount facilities of pri- vate banks. The official already quoted stated, however, that the rate probably will be maintained as matter of fixed policy to protect the gold notes of the Imperial bank and induce the return of emigrant capital to Russia.
 | The American project of a railway | from Tashkent to Omsk has been re- Ijected by the cabinet and other projects have been postponed until the convoca- tion of the national assembly, the min isters hesitating to assume the respon- sibility of important measures which are capable of postponemsnt until the new assembly comes into being. Among the projects thus proposed is one for a railroad from Omsk southeast to Semi- palatisk, a town of Asiatic Turkey sit uated on the Irtish river, 250 miles southwest of Barnaul which, in addi- ton to opening country rich in min eral deposits, will be important strat- egically.