The semi-weekly messenger. [volume] (Wilmington, N.C.) 1897-1908, 1907-11-08

'. -
New York. November 5.-The arri-
val Of the first treasure ship laden
with gold for the relief OF the present
~stringency was the . feature OF the
financial situation today. The Krun
Princess CeCiIlc soon after 10 O'Clock
dOcNed and unloadcd $t.70o.0O0 in
yellow metal Which win 30 to
steer ~trrn Ne% York bank reserves.
Inc new Cunarl Liner LNsitania viii
follow closely in her wake with $iQ,-
100000, and ,Sl4.0O0,0O moro will fol-
low during the remainder ~ the week
anu carly next week. Tn" additional
Withdrawals OF $4,000 from the
Bank of England today for the United
States, and $4,000 for Canada brings
up the total gold enEa7crlents on
the present movement 20 about $780,
600. OC0.
the news that the Bank of France
bought today 100000 in sterling
bills OF London was regarded here a.
an event OF the first Importance az
indicating that French tinuncicrs were
not only able but willing 90 help Lon
don aud thus indirectly to help Amer
lea by relieving the strain on the
Bank of England caused i'ythc heavy
American demands for gold. IL ii
hoped that this action OF h BANK
Of France viii deter the Bank srN
England from raising it's discount rak'
to : per cent. at the meeting OF d.
~rcctors on Thursday n the Imperial
Bank of Germany from raising ie-
rate from 62 TO II per cent.
The presence OF Secretary CortCIyou
in the city on his way to vote gave
al opportunity for further confer
crccS with Mr.. Morgan n other
leading bankers. The secretary came
over from Washington With Presidents
l r 1870.
from his home at Hampstead. Long
Island. decided to stop or anG learn
Of the financial situation. Besides
Air. Morgan, Secretary Cpl telyou saw
George w. Perkins and one o. two
other bankers, who acquainted him
with the progress Of events. He was
told that Ihe situation in >Icw York
was rapidly i~ntproIihS because Of the
Developments jA the last t~w"nty-iaur
| hours.
Those bankers who cav Secretary
CortelvOu today are convinced that
there is 40 inteation on the partyt
president Roosevelt to call an extra
! session Of congress 70 pass any rem
! Tdial financial legislation. rs II IL un-
! 6erstnOd the ADMINISTRATION feels that
| the situation should settle dow1 10 a
basis where a proper Judgment can
be formed on the various proposed
| changes III the present monetary laws
1t was further understood that the
] administration has not vet definitely
shaped the plans Of financial lcgisIa-
ton which it may desire u have con
| sidered at the coming session Of con-
gress.
A conference at which ictailS for
taking over the control O; the Ten
ne5seo Coal and Iron Company by the
United States steel corporation were
discussed was held in Mr.. AOrghn's
library today ami attended BY AIR.
Morgan. George w. Perkins, SecTe-
tary' Trimble. of the United States
Steel 30 Corporation. Vice President
Davidson, of the First National Bank,
and Grant i. Schley, one 81 the other
members OF the pool which heh con-
troll Of the Tennessee company stock.
No statement vas made following the
conference.
The taxing over Of the stock Of the
Tennessee company' held az collateral
for a large loan removes o menace 10
the Trust Company OF Americas
AFFAIRS and 1t regardede by bankers
generally as a safeguard against
further financial trouble.