Lewiston evening teller., 1907-12-13
Resume OF Wall Street
. A E1 By Henry lclsvs It'll

- NEW YORK, Dec 13.-Another
weelOof gratifsingirecoysry has been {
experienced, and since the panic Sc
curity, values show, an advance of 10 !
points and over On the Leading is
au5s. Int bohds, IS well psl Stocks,
there have been substantial gains,
and the whole draft Of the financial
sitastion shows l genuine recupera-
tion.h Z The premium On Currency lis 7
gradually disappearing and call
money is becoming more and more
easy rates having touched as low as
3 per Gent during the week Time
money continues scarce at 10 to IL :
perY cent for short G dates;3 not. $50
much from any deficiency In, supply, !
as from the conservative attitude of
the banks, which are still Obliged to
exercise caution in the granting Of
credit. Gradually, but surely, the
money market lis working back to
normal conditions. iaoc b95ia3
iuso Bank Reserves Are Rising
EG5The disposition I to hoard is abat-
I ing and bank reserves bare rising,
] having been materially assisted by
the engagement of about 500, 900,
900 of gold, the bulk of which has
already arrived. Fortunately our
interior banks are rapidly getting
4 over their fright now that the situ-
alton i'm New York is improving, and
within few weeks money will prob
ably. be abundant, and much easier
than at present. There is no lack, OF
IcuFrency.a The amount of eircula-
tion ON November 4 S0th was $2,-
876, 1000, 900, an increase of nearly
F$132, 100000 within the month, and
d $13g, zoo, 600 within twelve months.
This Is a circulation per dAafta OF
t$s471o compared ~ithiol $32.42 a
year ago 9Of the increase ih1Feircu-
lation during November $4,000. 900
was in gold coin, and $53.OQ0.0QQ
in bank notes. NpYetnher was thus
month Of antishaf I expansion, in
currency. Considering the lessened
tvolume OF business and the lower
prices at when lit lis beng transac-
ted, It'll is evident that we are rapidly
running into, condition of none
tary redundancy; a fact which has
been wisely recognized by the gov
d ernmentI and is reflected In It's de-
ciston to modify its recent relief
measures. From all parts Of the
country there come reports of steady
improvement in the money situation,
and it is confidently believed that
the complete resumption of specie
payments As only a matter OF COM
paratively short period ,9alm
Business Recovering Its Shock ;
There has been distinctly more
hopeful, feeling in, Stock Exchange
circles. although Efollowing the
rapid advance last, week. more or
less realizing Is about due. Specu-
tlative operations are! Of course, re-
lstftcted and likely btp be until in
terests rates decline to more nor
NAL level. Thus far the revival has
been quicker and more complete
than was anticipated 2 Buying pow
er' is of necessity limited. and time
will be necessary for further recu-
peratioh. Now that the disturbance
+ has subsided in wall street, general
I business is also recovering from the
shock administered last October.
| Mills temporarily shut down owing
to the monetary stringency are re-
starting, and merchants are conduct
ing their operations extending into
the future with visibly greater con-
| fidence than a month agoguoIt is
not to be expected, that business will
go back to the old scale of activity
and profits, Nevertheless business
,, conditions are generally sound; and
Il We. ,now, see no reasons for serious
4 apprehensions in this respect, Quite
J, possibly some further DECLINE in the
commodity, markets will have to be
eTperienced, and this will prove in
convenient, to concerns already over
extended; but mo serious curtail-
ment in the consumption of the ne
cessities of life seems probable, and
the reaction will fall chiefly upon
what may be classedsa as eluxuries
which are largely obtained from
abroad and already show a, marked
decline in importations slsf9ef fns
laod Backbone of Prosperity ~
A shrinkage in imports, however
;