The Chanute times. [volume] (Chanute, Kan.) 1897-1913, 1907-11-15
The MONEY THERE
The Financial Condition in North
west Mainly a Matter of I'm
locking of Currency
WHICH is HELD BY BANKS
In Fixed Assets And Immediately Await
able Capital That Section
Is Richer Now Than
Ever Before.

Chicago, Nov 9.-The financial
situation of Chicago and the North
west is mainly matter of unlock
ing. That is to say, the ordinary
facilities for commerce and the trans
action of banking business have been
curtailed by the shortage of current
money. The bankers are taking steps
to return to the normal condition.
They do not consider it safe yet, how
ever, to begin the payment of cur
rent money whenever demanded and
checks on the clearing house for small
amounts are now in preparation to be
used as current money.
1t is almost certain that these.
checks will be issued on Monday and
several million of them will then be
available. But meanwhile the Golfers
of the banks and the pockets Of indi-
viduals have been somewhat replen-
ished by the importation of over S.
100000 of gold and the deposits OF
the United States government in ma
tional banks have been increased sew
eral millions. Seemingly it is qucs-
ton of few weeks at the longest
when money will be freely in circula-
ton.
But meanwhile there must be con
siderable strain. So far as is known
to persons closely in touch with finan-
cial affairs in Chicago there is not a
bank which may be considered in a
weak condition and the same is main
ly true throughout the Northwest
Small BANKS which have no special
protection may fail but there is hard
ly more Of that sort Of thing now
than in ordinary times. AS to large
corporations there Is no weakness ex-
cept that which is obvious to anybody
familiar with the reports Of such cor
porations and their methods for years
past. With some it is matter of
disseminating purchases and making
collections. Their collections will be
facilitated by the clearing house de-
vices now in use or hereafter to be
put into operation. There has been
some anxiety with respect to the
large amount of commercial paper
which has been pat afloat through
brokers but in many instances 1t is
known such paper has been met
promptly and no trouble from that
quarter has yet been announced.
There is no manner of doubt that
the Northwest Is richer now than ever
before not merely in fixed assets but
in Immediately available capital. AS
a small illustration 1t may be men
toned that the shipments Of wheat
and flour for 10 weeks of the crop
year amount to S2253,000 bushels
against GS.666,000 the corresponding
pericd of last year and the amount
of money received for this produce is
much greater per unit than last year
1t is to be assumed that shipments
from this time on will be less active
than heretofore because the supply of
currency is small, and many of the
farmers refuse to accept checks. This
very fact, however, shows that the
producing class are financially strong
enough to sell when they get ready.
The country banks have more cur
renew than ordinarily at this time
of the year. but are holding It for
fear it will be boarded by individuals
IL paid out. The excess Of shipments
Of currency over receiDts in Chicago
during October was $24.711.5l0 against
$166. 765, 500 the corresponding month
of last year. The banks in Chicago
are treating country banks as they
do individuals. that is, giving them
the little CURRENCY they must have
and holding the remainder for future
needs. The banks in Chicago also
have been calling loans to grain men
to some extent in order to force the
produce to market The consequence
has been a decline In the price Of ag-
ricultural products. The amount OF
monev that can be realized to the
West from AGRICULTURAL products Is
we'll indicated nv the fact that the
visible supply of wheat in this coun-
trv Is now over 430n0000 bushels as
apainst $1,000 900 bushels year ago.
while the price is materially higher