The semi-weekly messenger. [volume] (Wilmington, N.C.) 1897-1908, 1907-11-01

fencing no difficulty in securing ready
money. A prominent banker tonight
declared that the situation here was
entirely satisfactory.
Atlanta Banks .ot Worried.
Atlanta, Ca, October 27-Local
banker express entire confidence in
the financial situation and say they do
not expect trouble of any kind. The
situation, they say, is well in hama
and money is coming II fast from the
marketing OF the cotton crop and
there is TO reason to anticipate n
Stringency in the loca. market
Conditions Satisfactory II Charleston.
Charleston. s. c., October 21.-The
fairly satisfactory conditions at Sat-
uriay's closing cenes in Wall street
were viewed with satisfaction mere
and local bankers expect q return 10
the normal III a "ery short time, al
though Monday, all think. Will be a
very busy day in financial circles
everywhere. The quiet, even teEor or
affairs In the south has not been dis
turbed and local bankers predict a
"purging of interests which are 1nl-
nical to true banking ard as q Sc
ouence the couEtry's condl-
ton safer and saner tnan before
That the prosperous conditions IN tne
south will not be seriously affected by
liz TlCLf l0li . 0A
and east, is the impression prevailing
here.
There were similar reports in the
dispatches from other southern bust
ness centers, all expressing confidence
in the ability of the banks to take care
of the situation.
When u bankers and men who
make a study of the financial condi-
lions express confidence and declare
that there is no cause for uneaslness
the people who have heretofore placed
confdnce in the judgment and integ-
rity OF those men should be guided
by them in a time like this, when
there are SO many wild rumors start
ed by ignorant and irresponsible per-
| sons. The sooner the people stop
getting excited over this matter and
| stop originating or repeating extrav-
| agant reports about what is going or
or what is threatened in financial cir
| cles all the sooner will normal condi-
| lions return. The banks may be more
careful just now than usual about
making loans but those of our section
are all right.
AS evidence of what the cotton
movement has done to fortFy the
south against financial disaster be-
cause of the stringency of money at
| the north we will say the following
as to what Wilmington alone has
! done along this line. We know the
| facts will surprise most if not all OF
our readers. They have never been
duplicated by any cotton exporting
city in the county:
The business community of Will
mington, and incidentally all persons
| interested in the financial soundness
| of IL banks and commercial affairs
have cause for thankfulness that the
heavy movement of cotton from Geor-
gia, South Carolina and North Caro-
lima into the port of Wilmington has
been so promptly handled and financed
with such consummate skill, and with
such superior facilities, that through
! the medium of our Wilmington ex-
porters no less than nine million dol
lars have been distributed from Will
| mington in payment of cotton and for
freight during the past seven weeks.
On Saturday last twelve thousand
dollars in silver was paid to laborers
at the Champion cotton compress
[ alone. The distribution of these
large sums of money has not only
made the farmers Independent of any
| fluctuations In the cotton market and
money market by enabling them to
pay off the whole, or the greater part
it possible or convenient
for them to market, or hold, the re-
naming so per cent. of their crop as
their discretion. 1t has also benefit
ted largely the retail stores Of Will
mington by a greatly increased cir
culation of currency. We are, there
fore, not affected by the evil tidings of
financial trouble in the far southwest,
caused by the holding back Of crops
which gave us the advantage Of high
er prices and an unprecedented move
ment Of cotton to Wilmington i'm Sep
tember and October.