The Birmingham age-herald., 1907-11-06
COLD ARRIVES
 FROM EUROPE Financial Situation Aided By h.
 aux of Real Money
$24,OOO,OOO MORE ID COME
New York Bankers Agree in Their ,Ex- pressions That the Financial Cen ter Is Sound and Is Now Ready
 To Help Others.

New York, November 5.--The arrival of the first treasure ship laden with gold for the relief of the present strin- gency was the feature of the financial situation today. The Kron Prinzessen Cecilie was reported off Fire Island at o'clock in the morning and soon after 10 o'clock sailed up to her dock and unloaded s7,100,000 of the yellow metal which will go to strengthen New York bank reserves. The Cunard liner Lusi- tania will follow closely in her wake with s10,000,0 900 and $14,O00,000 more will follow during the remainder of the week and early next week.
 The additional withdrawal of f75, 900 for the United States and f25,000 for Canada brings up the total gold en- gagged on the movement to about s36.- 600,O00. The news that the Bank of France had shipped f3 ,000, 900 in sterl- ing bills of London was received here as an event of importance indicating that French fnanciers were not only able but willing to help London and the United States indirectly by reliev- ing the strain on the Bank of England caused by the heavy American de- mands for gold. It is hoped that this action of the Bank of France will de- ter the Bank of England from raising it's discount rate to ' per cent at the meeting of the directors Thursday and the Imperial Bank of Germany from raising it's rate from 6is to 7k per cent.
 The inference is drawn that it is likely to have this effect because not since 1873 has the Bank of Englands rate been above 6 per cent, and only for twelve days in each of the years 1899 and 1900 has the German rate been above per cent since 1870.
 Conference of Bankers.
 The presence of Secretary Cortelyou in the city on his way home to vote gave an opportunity for further con- ferences with MT. Morgan and other loading bankers The secretary came over from Washington with President Roosevelt to vote and on his way back from his home at Hampstead, L. l., de- cjded to stop off and learn of the finan- cial situation.
 Resides MT. Morgan, Secretary Cor telyou saw George w. Perkins and one or two other bankers, who acquainted him with the progress of events. He was told that the situation in New York was rapidly improving because of inc deyelopments in the last twenty four hours.
 Those bankers who saw Secretary Cor teIvou today are convinced that there ia no intention on the part of the Pres ;dent 10 call an extra session of Con ,,ress to mass remedial legislation, as 1t is understood the administration feels that the situation should settle down to a basis where a proper judgment can be formed on the various proposed changes ,n inc present monetary laws. It was further understood that the administra- tion has not yet definitely shaped the nIans of financial legislation which it may desire to have considered at the coming session of Congress
 Corner Is Turned.
 That the corner in the recent monetary difficulties has been turned was evidenced today when at a conference of J. P Morgan. Levi P. Morton, George w.. Perkins. together with several other well known financial men. attention was chief Iv directed to the situation in other fnan- cIal centers throughout the country to ascertain if the strain Of the last two weeks had disclosed any weak spots. With the situation cleared here, the bankers feel that they are now in position to tender such aid as they can to either