The Birmingham age-herald., 1907-10-30
SOUTH'S FINANCES
 ARE SANE AND SAFE New Orleans Bankers Express
 Satisfaction REPORTS ARE OPTIMISTIC News From Principal Southern States
News From Principal Southern States Indicates That Banks Are Solid and That the Crop Move
 ment Is Good.

New Orleans. october 29.-That the south is financially safe and in posi- tion to benefit greatly. the other DOT tions of the United States was the opinion expressed today by New Or leans bankers and business men. The immense exports of cotton and also sugar and rice are relied on shortly 10 bring in gold from abroad
 An index of the south's prosperity was the amount of shipping at this port today There were fifty seago- ing vessels in the harbor and in addi- tion. scores of river craft piled high with sugar, molasses. cotton and rice. The harbor activity was all the more significant because it followed on the heels of a months strike of 10000 levee men. Within the past twenty four hours alone twenty seagoing yes- sels have arrived.
 Partly as a guarantee for the un- hampered movement of the crop sta pies. speculative activity involving any unnecessary risks in other lines of business was today suspended in New Orleans, both local stock exchanges closing until Monday. The cotton ex- change continued open.
 Reports came in today from rural districts in Mississippi, Alabama, Ar- kansas and Tennessee that small banks have followed the lead of the cities and have taken united action to protect depositors from loss of money or con fidence.
 Following a conference of New Or leans bankers. Charles Godchaux. pre- ident of the Whitney Central National bank, today gave out the following: New Orleans and the south can be of great benefit in relieving the sit uation throughout the country if the east Will assist by allowing some of the currency deposited with it by the government to come this way in order to move the cotton and sugar crops The cotton movement is slow. owing to the inability of the banks here to supply the necessary cash. The banks are buying foreign exchange libefalIy getting New York exchange in pay ment therefor, but they will soon be at standstill, as currency cannot be brought down to supply their wants If some plan can be found to remedy this, conditions in New Orleans and the immediate neighborhood will be greatly improved This will also place New York banks in possession of for eign exchange with which to obtain gold from abroad
 'The sugar crop, which promised to be large, is not disappointment and the yield of sugar per ton of cane is fully up to expectations.
 "The decision of the clearing house here to issue clearing house certificates to restrict the dailyR withdrawals of cash, and to enforce the sixty day rule for savings deposits, has met with unanimous approval of the community at large"
 Henry B. Schreiber, president of the New Orleans Board of Trade, said
 "Conditions throughout the south as reflected in the finance and commerce of New Orleans are most encouraging. The large movements of cotton through the ports of New Orleans, Galveston. Savannah, Wilmington and Norfolk and large sales of other commodities to foreign points buyers are exerting d healthful influence. and we are most sanguine as to the showing the south will make in the year 1907." 
 last night. but it has caused little furry The banks were all busy today receiving money and paying out in drafts. The small banks in the surrounding country are prosperous and have plenty of money on hand.