davidaulloa/AmericanStories huggingface dataset:
The Birmingham age-herald., 1906-02-24
5 Weekly Interior Cotton Towns.

Albany-Receipts 6; shipments 92; stock 5206.
 Athens-Reeeipts se5; shipments 6l7; sales A; stock 1sS50.
 Atlanta-Quiet: middling 101ke; receipts 131; shipments 3sS; stock 7151.
 Brenham-Reeeipts S5; shipments b4' stock 1491
 Charlotte-steady; middling 1os4c; re- ceipts S12; shipments S12.
 Columba--Receipts 14s6; shipments 1636. stock 2730.
 Columbus Ga.-steady; middling 1Ohe; receipts 89O; shipments So2; sales SO2' stock 22,032
 Columbus Miss.-Quet middling 1oc; receipts 6s5; shipments 7eS; sales 12eS Dalas-Receipts 14S5; shipments 1Gss; Eufaula-Receipts Ss; shipments H.; stock 1450.
 Greenvire-Receipts 67s shipments 22Oi stock 6lS3
 Greenwood. S. C.-Receipts 59; shipments 37; sales %: stock 6139
 Helena-Receipts 65s; shipments FPS; stock S644.
 Little Rock-Dnll; middling 10ikc; re- eeipts 1926; shipments 4100 stock 5l,Sss. Macon-Receipts 102: shipments S69; stock 996l.
 Meridan-Receipts 1511; shipments ITS; stock 2A257
 Montgomery-ste mddling 10ssc re- eeipts 1155; shipments 1169; sales 1869; stock 31, ,797.
 Nashville-Steady; middling 10ssc; re- ceipts 9; stock 11,S97
 Natchez-Steady; mlddling 10ssc re- cepits 347; shipments 1O56; sales 1732; stock 12,716
 Raleigh-Steady middling 10hc; receipts 121; shipments 100; stock 622.
 Rome-Receipts 519; shipments S66; stock 7411.
 selma-Receipts 3S7 shipments 957; stock 1897
 Shreveport-Steady: middling 10 7-l6c; receipts 1874; shipments 1167; sales S75; stock 29,7S1
 Vicksburg-Receipts 11O5; shipments 2S99 stock 24.254.
 Yazoo City-Receipts 974; shipments 2630 stock IA, 4S9.
The Birmingham age-herald., 1906-02-24
SURPRISE CAUSED BY THE SHR|NKAGE Stock Market Offers Little Sub-
 ject for Comment DEALINGS ARE VERY SMALL The Insurance Report Is Looked Upon as Having a Possible Important
 Effect On the Market In the Future.
DEALINGS ARE VERY SMALL

New York, February 2S.-Today's stock market does not offer much subject for |comment. The shrinkage in the volume |of business and the narrowing of the limits of the market in every way sur prising. The aggregate dealings for the day fell to lower level than has been touched for many months past How far this was due to the small remnant of the week left after yesterdays holiday must be partly aSmatter for Conjecture.
 That 1t was an influence in the dullness, is very probable, as professional opera tors are not inclined to enter on large commitments with interruption of trading activity in prospect. But there is ground for believing also that the general spec ulative situation Is exercising of a grow ing effect of repression in markets activi- ty. The high opening today in this mar ket was due to sympathy with the Lon don market which had advanced Ameri- cans which New York was taking a holi- day. These advances abroad were due to number of circumstances. The suc- cessful completion of a stock exchange 6ClbACiuclb iWllHOul SeTlOQS Qan1aRe WAS one of these. A somewhat more hopeful feeling over the Moroccan conference was another. A further possible influence was the cabling of orders from New York yesterday. which might be made sharply effective on prices in London owing to d small floating supply of American securi- ties there.
 A notable fact in the sagging of prices in the New York market was the small offerings of stocks necessary to effect it
 Some influence in this result was attribu- table to the report of the insurance invest igating committee Some of the recom- mendatiens of the committee regarding securities to be held by insurance com
The Birmingham age-herald., 1906-02-24
Ware & LeIand's Market Letter.

During the week developments in the cotton market have been of a rather ex- citing nature as well as of a depressing one. For the first time in months imme- diate options in the New York market sold in the neighborhood of 10 cent cotton in the south changing hands at declining figures.
 The cause of the slump In prices has the general liquidation before March notice day.
 As those who have followed the course of the cotton market for the last few months are aware, there has been a great deal of talk about the March corner on behalf of large financial interests in the face of any stock of nearly 100000 bales.
 The corner or efforts to force prices higher ended in a fiasco and with hold CTS attempting to sell out a line of long cotton amounting to thousands and thou sands of bales, the effect on prices has been one needing very little imagination to realize.
 In the face of an enormous worlds visible supply of all kinds the spring feeling beginning to show itself in the air, in the south. the attempt to liqui- date an extensive line of cotton has come at a time when the trade was but i'll prepared to digest the cotton thrown overheard by those who were taking their losses.
 Now as to the future: It would seem as though with March cotton in New York getting pretty close to 10 cents and the New York stock looked after, as it must be before next Monday noon, the situation is likely to clear up and the course of prices for a time at least be a little less one sided.
 That Is to say. while we cannot feel that the ultimate trend of the cotton market can be very much different from what it has been in the immediate past, the fact that so much distress cotton has been sold out and the next notice day for May cotton will be two months off. should operate after so extensive decline in favor of a trading rather than a slumping market.
The Birmingham age-herald., 1906-02-24
Fruits and Produce.

Lemons-Per box, extra fancy, S. .75QD4 Florida oranges, $3 .25a375; California navel oranges. s3.25a3.5O; grape fruit. $30I4
 Apples Northern grown. per barrel fancy. $550@6.00.
 Tomatoes-Per crate. s2.o092.5o. Limes-Per 100 s1.25.
 Bananas-Per bunch. fancy stock, 75eD $1.25 bunch.
 Peanuts--Fancy. per pound. 616q7c; No. 2, cents
 Sweet Potatoes-Y Yellow yams. 9OG95c. Celery-Per dozen. soc; per crate. s6. Cabbage-2c per pound: new crop Flor ida cabbage, S2 25 per crate.
 Egg plant. sl l.50a2 per crate.
 Lettuce-New crop, per crate, g. Onions-Per pound, 21ac.
 Onion Sets-Yellow, per bushel, e: white, per bushel. .25.
 Potatoes-Irish potatoes. soc Tennessee Second Crop Triumph Seed Potatoes, per bu. $1.10.
 Turkeys-On foot, 13Q14c; dressed. TO 1Sc.
 Game-Rabbits per dozen, q. 75@2; quail, per dozen, g. .25d2. 50.
 F,ggs--Per dozen. fresh, 12&13c Hens-35137c; chickens. large 2563oo: medium 20Gt25
 Butter-Fresh. 121s915c; renovated, 10, creamery, S2c.
The Birmingham age-herald., 1906-02-24
THE LOCAL MARKETS

The Birmingham cotton market yester- day showed the same inactivity that has characterized 1t for several weeks. There were no changes in the quotations, good middlng closing at 109s cents.
 Oranges and lemons are still scarce on Morris avenue and high prices therefore prevail on these products Eggs are steady at 121s cents and 13 cents with a well-stocked market. Fresh butter has dropped to 1215 cents to 15 cents but other wise the quotations are practically un- changed.
The Birmingham age-herald., 1906-02-24
RALLIES AFTER
 DULL FIRST HOUR Close Was Steady at a SmaI
 Net Advance SALES WERE 450,000 BALES A Big Demand for Spot Cotton Was Reported From the south-Break
 Made Early In the
 Day.
SALES WERE 45O,O00 BALES

New York, February 2S-After selling at a new low level for the movement during the first half hour the cotton market today rallied and closed steady at a net advance of SQ11 points.
 Sales were estimated at about 45O,oOO bales.
 The market opened barely steady at an advance of 40D6 points on February, but generally unchanged to points lower under renewed liquidation and bear pressure in the face of steady Liverpool cables and firm advices from the spot market The initial break carried March to 1017 and May to 1O.4o, or about $ points under Wednesdays finals, but at this level offerings were less pressing and a good demand developed from local shorts and trade interests. The market rallied to a net gain of about to } points, and then turned irregular during the middle session to firm up again In the later trading on the active demand from shorts and some fresh buying for long account based on the idea that March liquidation was practically com pleted and there was nothing to depress the nldrhel III tHe ldce ol the Ols ueiHaiiu for spot cotton reported from the south. The market closed steady in tone and at practically the top prices of the ses- sion.
 Receipts at the ports today 24,SOS bales against 20,230 last week and 23952 last yaer. For the week (estimated) 12O,0O0 bales, against 133,O02 last week and 115,S3S last year.
 Today's receipts at New Orleans 1898 bales. against 61,092 last year, and at Houston 4O76 bales, against 5332 last year
 New York Cotton Futures.
 New York, February 23.-Futures open ed and closed steady. Quotations ranged
The Birmingham age-herald., 1906-02-24
Taklna of American Cotton.

New Orleans, February 22.-Secretary Hester gives the taking of American cotton by splnners throughout the world as follows, in round numbers;
 This week 232.000, this year against 25l 0OO last year. 295,OOO year before last.
 Total since September l. this year 6444, 0OO against 6,7320O0 last year, and 1,49i,OOO the year before.
 of this northern splnners and Canada toolx 649 coo bales this year, against L. 4s1 .0OO last year, and 1,G9t000 the year before; southern spinners 1,Sl5,000 against 1. .2s5. GOO last year, and l,20l,000 the year hefore. and foreign spinners 3,4S0,0O0 against ss66,OO0 last year, and 3,59s0O0 the year before.
The Birmingham age-herald., 1906-02-24
LiuerpooI Cotton Market.

Liverpool. February 23.-Good business done in spot cotton; prices 1 point lower American middling fair, 6.52d; good mid ding. 5.gld; mlddlng, 5.73; low middling 5.57: good ordinary 5.39; ordinary, 523 Sales of the day, 10000 bales, of which 1900 were for speculation and export 95OO American. Receipts, 200 bales, all American.
 Futures opened quiet and steady and closed steady; American middling, G. O. e.: February, 599; February March, 5.59i March-April, 5.6O; April-May, 5.63; May June. 5.66: June-July, o.69; July-August, 5.77; August September, SGT; September october, 547; October November. 5.5i; No- yember- December, 5.50.
The Birmingham age-herald., 1906-02-24
Comparative Statement.

New York, February 23.-Comparative cotton statement for the week ending Fri day, February 2S
 Net receipts at all United States ports during week, 143, 343; net receitps at all United States ports same week last year, 112,575 Total receipts since September l, 6,142, ,227 total receipts to same date last year, 6,991 BOA Exports for the week, 151, 764; exports for same week last year, 13S 7O4 Total exports since September 1, 4,- 465, ,066; total exports same date last year, 5,52 143. Stock at all United States ports, S72,952; stock at all United States ports same time last year, 6S0,2S2. Stock at all interior towns, 649, ,29S; stock at all interior towns same time last year, 5S0,S1S Stock at Liverpool this time last year, 902O0. Stock of American afloat for Great Brit ain this time last year, 12,0O0
The Birmingham age-herald., 1906-02-24
Coffee Market.

New York. February 23.-Coffee. spot Rio steady; No. invoice sA mild steady. Futures opened steady at an advance of to 10 points in response to higher European cables and reports that the valorization bill of the Brazilian govern ment which is expected to advance the price of coffee by regulating Its market ing and supply had been finally approved. There was active business here and heavy switching from March to later positions, but the liquidation of the nearby longs did not check the advance and the mar ket closed steady at a net gain of 15 to 20 points. Sales were reported of 2S0,000 bags of which about 100000 bags repre- sented exchanges. The business included March. 6.55d6.60; May. 6.7596.S July, G. .95d7. .05; September. 7.20a7 80; December. '. 40fD7. 50.
The Birmingham age-herald., 1906-02-24
Bonds.
Monev on Call.

New York, February 23-Money on call firm, 4q41k per cent; ruling rate A.; last loan 4; closing bid BE- offered at 4. Time loans firm, sixty, ninety days and six months 5@5H Prime mercantile paper 5Q5A. Sterling exchange firmer, with &C., tual business in bankers bills at 4S6. 400 4S6. AS for demand and at 4S2. 9O6p4S2 .95 for sixty day bills posted rates 4S31RQ4S4 and 4S764S71h; commercial bills 4S26s@4S2s4. Bar silver 6615; Mexican dollars 51A; gov ernment bonds steady; railroad bonds ir- regular.
The Birmingham age-herald., 1906-02-24
Interior Movement.

Houston-Steady; midd1ing, 10 9-16c; net receipts. 47O6; gross receipts. 47O6; ship ments, 6515; sales, 21 stock, 69495.
 Augusta-Two days, quiet; middling 10Ac; net receipts 35S gross receipts, 925; shipments, 175; sales, 172; stock, 80, TAI
 phis-Steady: middling, 10 11-16e, net receipts, 9SS; gross receipts, 3023; ship ments, 5676; sales, 145O stock, 112,21S.
 St. Lous-Quiet; middling, 10a4c; net re. receipts, D; gross receipts, 1143; shipments 1143; stock 43.623
 Cincinnati-Quiet; net receipts, 9S0; gross receipts 9s0; shipments 533; stock, 15, ,64G
 Louisville-Firm; middling, He; net re- receipts, 110; gross receipts, 110; ship. ments 55: stock, 150.
 Total today-Net receipts, TAP; gross re- ceipts, 10,ss7; shipments, 14,O97; sales, 15s3, stock, 321, ,876.
The Birmingham age-herald., 1906-02-24
Local Staple Groceries.

Sugar-Granualted, 4Bc; Y. C., 4%c. Flour-Fancy patent. s5.75; standard patent, $5. .25; straight, $4.90
 Coffee-Green, 11q1Sc; Arbuckle's. s15 55; Porto Rico, s15.55.
 Meat--Dry salted ribs. Sc; dry saltsd rib bellies, Sc; extra clear, $40; hams. fancy, 131ac mediums, 121sc; bacon bellies. 11Ihc: California hams. 9Ac.
 Lard-Leaf Sssc; compound lard, 61s9Tc. Molasses-Cen 30135c; sugar house 40c; Georgia cane, 34c.
 Beans-Navy. s2.25 per bushel; hand picked Lima, 7c.
 Grits-92 pounds. s1.65
 Meal-"Jim Dandy" s1 12h.
 Birmingham macaron, 6s4c.
The Birmingham age-herald., 1906-02-24
Naval Stores.

Savannah, February 28.-Turpentine firm at Ssc; sales, s6; receiptss 24e; shipments 1000. Rosin firm; sales, 1496; receipts, 26s5; shipments, 1s545 stock, 4s.776. Quote: A, B, c. D. E, F. s4o5; c, s4o5;@4. .15; H, A.25; I, s4.55; K, $5.2o; M, 5.521a; window glass, $6.10; water white, s6.20.
 New York, February 23.-Rosn quiet; turpentine steady at 711k0p72c. Cotton seed oil nominally unchanged
 Charleston, February 23.-Turpentine and rosin, nothing doing
 New Orleans February 23.--Naval stores steady; pitch, s2.25; pine tar, 475; coal tar, s3.5O. Resin, per barrel of 2SO pounds A, B, c, D, E, F, "A; H, S4.15; I, $4.55; K s5.20; M, s5.45; N, $5.90; Window glass s6.10; water white, $6.2O. Turpentine firm at 69c.
 Wilmington, February 23.-Spirits of turpentine, nothing doing; receipts, 31 Rosin firm at s3.75. Tar firm at $1. 80; >re- ceipts, 252. Crude turpentine, sSQ4.75; re- ceipts, 12.
The Birmingham age-herald., 1906-02-24

Cash quotations were as follows: Flour-Weak and dull
 Wheat-No. ? spring, s1@SS; No. 8, 7s; No. red, S3dS3B
 Corn-No. 2, 99A; No. yellow, 39A@14O. Oats-No. ?, 29% No. ? white. 31QS2; No. white. 2914Q30%
 Rye-No. 2, 63.
 Barley-Good feeding, s71S9S7ss; fair to choice malting, 4Oa50.
 Flax Seed-No. 1, $1.OS1a; No. l north western, $1.18.
 Timothy Seed-Prime S3.25. Mess Pork-Per barrel. $15 35015. 40. Lard-Per 100 pounds, 7.65@p7 .671h Short Ribs-Sides, loose, S. .00dS 10 Short Clear Sides-Boxed, s. 45G5S .5O. Whisky-Bass of high wines, SIPS. Clover-Contract grade, $14.00 On the produce exchange today, the butter market was firm. Creamery, 17@ 2719; dairy, 170242.
 Eggs stronger, 1211; firsts, 121a; prime firsts, 131s; extras, 151s.
 Cheese firm, 11%@13.
The Birmingham age-herald., 1906-02-24

lon 1525S2: Wilmington 2s4,6s4: Norfolk 516.6ls; Baltimore 9.Ol4: New York 2S33; Boston 5l ,21; Newport News 12,441; Phil adelphia 4655: San Francisco 19,509; Bruns- wick 133020; Port Townsend a,oOS; Pen saeola 11S295: Portland. Ore. 2660: Port Arthur and Sabine Pass s4261; Jackson vile 15,305; Eagle Pass, Texas 2S49; El Paso, Texas 150; Laredo. Texas AS5l; mi- nor ports 13,201: total 6,142,227 bales.
The Birmingham age-herald., 1906-02-24
Live Stock Market.

Chicago, February 23.-Cattle, receipts 20O0 steady; common to prime steers. $3. .75d6 30; cows, $3.10Q435; heifers, s2 50 65; bulls. g. .25G4 .35; calves. $3@7 80; stock CTS and feeders, $2.75@4. .65.
 Hogs-Receipts. 22.o00. Market to 10c higher; choice to prime heavy, $6.25G6. 30; medium to good heavy, $6.15@6.25; butch CT weights. s620d6. 30; good to choice heavy mixed, s6.15@6. 25; packing. s5.sO@ 6.2
 sheep-Receipts TOO. steady. Sheep. s4a6; vearling, S. 50d16. .25; lambs, 6.25M7 10.
The Birmingham age-herald., 1906-02-24
Feed Stuff.

Corn-No. 2 mixed. 62c; white, 63c. Oats-No. ? mixed, 43c; No. white. 70; white clip. 4bc.
 Pure wheat bran, 80 or 100, ,23 Cotton seed feed meal. S26 prime, s2S.o Corn chops, N.l0.
 Corn hearts, s1.15.
 Shorts, 100 pounds s24
 HulIs-s0-lb c. s.. s9 ton; s0-lb. c. s., toc sack; 1OO-lb. c. s.. 30 ton: 100-lb. C. s. 45c sack; 70 lb sack hulls, 35c
 Hay-Choice timothy. $500. No. 1 timo- thy, S1S.50; Johnson grass, s14; clover, s16
The Birmingham age-herald., 1906-02-24
Metal Market.

New York, February 23.-Spot tin high CT in London f166 5s. futures unchanged. Locally shade higher, spot. s36 -25@S6. 50. Copper, sharp advance in London. spot closing e79 los and futures f76 los. Local market also steader. Lake and electrolyt- fc. $17. .871kd1s. 50: casting, SIT .6215n17. .75. Lead unchanged locally. London lower. f15 15s. Spelter unchanged locally. De- clined 15s to e25 in London. Iron higher abroad closing at 4Ss Cd for standard
The Birmingham age-herald., 1906-02-24
Treasury Statement.

Washington, February 23.-Todays 8 treasury balances exclusive of the gold reserve, s74,S12, ,0s9; available cash balance $151, ,215,921.
The Birmingham age-herald., 1906-02-24
cIearinqs and Exchange.

Memphis, February 23.-Clearings, $,- 199, ,952; balance, $114,7S8.
 New Orleans, February 23-Clearings. $3.659, 551; New York exchange 1 per sl00O premium; commercial 50 cents per 5000 discount.
The Birmingham age-herald., 1906-02-24
Cotton Seed oil.

Memphis. February 23.-Cotton seed oil: Prime crude, 24d25c; prime summer yell low, 271a@zSc; prime meal. 2450Q25; prime cake, $24. 4.50Q25
 New Orleans. February 23.-Cotton seed oil steady; prime refined in barrels, 30c, prime crude loose, 25c.
The Birmingham age-herald., 1906-02-24
Dry Goods.

New York, February 2S.-The movement in the dry goods market today was very moderate at first hands. Buyers were in- fluenced to an appreciable extent by the weakness in raw material and operated only as they needed goods The current anathv however, did not have any ap- nreciable influence upon prices which were held steady by the large advance on business which has been done. Jobbers continued fairly active.
The Birmingham age-herald., 1906-02-24

Chicago, February 23.-Active covering by shorts caused a firm close today in the local wheat market, although prices were trifie below the final quotations of Wednesday, the May option being off Ac. Corn was up A@ssc. Oats showed a gain of Ac. Provisions were PIE to 5c higher.
 The leading futures ranged as follows: Mobile & Ohio ct. 4s............... e7D4
The Birmingham age-herald., 1906-02-24
Hides and Wool.

G. s. hides, S1zc. Dry flint hides, No. 1. 15917c. Dry salt hides. No. 2. 13d15c. Clear washed wool. 35d37c. Unwashed wool. 35@37c. Bury wool. 15c. Sheepskins. 15q60c. Tallow, 444kc.
The Birmingham age-herald., 1906-02-24
Seaboard Air Line.

Baltimore, February 23.-Seaboard Air Line common and preferred, nothing do- ing.
The Birmingham age-herald., 1906-02-24
Weekly Cotton Statement.

New York, February 23.-The following statistics on the movement of cotton for the week ending Friday, February o3 were compiled by the New York cotton exchange:
 WEEKLY MOVEMENT
The Birmingham age-herald., 1906-02-24
Chicago Change.

foundry and ASS 101zd for Cleveland war rants. Locally market was unchanged.
The Birmingham age-herald., 1906-02-24
Total Net Recejpts

The following are the total net receipts of cotton at all ports since September 1: Galveston 2.090. .3S4; New Orleans m ,ssS; Mobile 197, ,5s3; Savannah 11s3.e55: Charles
The Birmingham age-herald., 1906-02-24

Loveman & Co.'s Market Letter. Although Liverpool showed unusual
The Birmingham age-herald., 1906-02-24

Sales. FIigh. Low. Close.
The Birmingham age-herald., 1906-02-24

Ala. Consolidated 5s .......9 92 94 Ala. Steel & Shipbulding Co....104 107 Alabama State Bonds
The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1906-01-01
MO GRAFT POSSIBLE.

The Louisville Courier-Journal, dis
cussing national irrigation, says that
"demagogues are now insisting that
not only shall each homesteader have
$50 acres Of irrigable land free Of cost,
though irrigation gives 1t q value Of
from $50 to $500 an acre, but that he
is entitled to free water also"
Such demagogues there may be, but
we have not heard of them. And GER
tatnly there is no such sentiment in
the states that are to be benefited by
the national irrigation act It is very
generally understood and accepted as
proper and reasonable that those who
acquire land under government irriga-
ton works should pay back to the
government, as the law requires, the
cost Of the undertakings.
There is no thought of turning the
national irrigation act into a great
western steal such as the rivers and
harbors bill has been in other sections
Of the country. Out here we are will
ing to give full value for every dollar
Of public money expended for our ben
eft. Nobody who knows the west is
at all afraid that any scandals will
attach to national irrigation enter
prises-
The semi-arid west realizes very well
that it is IN a manner on trial before
the nation. It is too much interested
in its own development through gov
eminent irrigation TO do anything or
to permit anything to be done that
over the greatest domestic enterprise
in which the government has engaged
for years.
The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1906-01-01
COME CURRENCY FIGURES.

The annual report Of the controller
Of the currency contains some figures
that show the great growth of the
banking power of the United States.
Included in the expression banking
power" are capital, surplus. undivided
profits. deposits and bank circulation.
It is estimated that if the present
rate Of increase in the United States is
maintained it viii only be six years
until the banking power Of this coun-
try equals that of all the other nations
Of the world combined.
For the fiscal year 19O4-05 the bank
ing power of the United States was
SIS. 1884. 600 900. All the other countries
combined had a banking power Of $19,-
15S, 100000 The American increase in
two years has been a little more than
Is per cent, or $2,024, OOO, OOO The in
crease in foreign countries during the
same period Of time was s1,O7O, 900, 900,
which is a little less than per cent.
Thus our net gain was 9 per cent. and
it is easy to figure out how soon we
will overtake the world
Other interesting figures in the con-
troller's report relate to the supply OF
metal money. The United States. holds
nearly one-forth Of all the gold and
nearly one-fifth of all the silver money
in the world. The figures are 1,348,-
200. 900 in gold and $685., 900 in silver
The gold coins Of the world are worth
s., 9S7, 100. 900 and the silver coins So
80, 100000. Yet it is said that in the
United States, thanks to the great
number of banks, more business is done
on less money than in any other ma
ton in the world.
Our clearing houses greatly facilitate
this sort of business. Cash in large
sums rarely changes hands. Payment
is made by checks. The checks go to
a clearing house in which each impor-
tant bank is represented. One bank
messenger has checks drawn on Bank
A for $50, 900. The Bank A messenger
has checks drawn on Bank B, repre-
scented by the first messenger, for s45,-
600. A therefore pays B $1,000 and the
account is square, but $4,000 worth Of
business has been done on that $1,000.
The United States now stands second
in per capita circulation with $314.
France heads the list with 1918 and
Germany is third with spas.