The evening star and Newark advertiser. [volume] (Newark, N.J.) 1907-1908, 1907-12-02
MONEY RATES
CURRENCY PREMIUM s
BY WEEKS END.
Active steps Have Been Taken 8
Resumption by Banks Of
Cash Payments.

CaSh Payments.
- s.
!
NEW YORK. Dec. "A good recQ#EzX ~
prices was made in last weeks stoe# #a.
kets and. compared with a weeH 4*5
many substantial and even smart net *4=.z
were recorded. IN the closing Sessions Sd
the week speculative and financial Esn<I<
ment became SO improved that a hfIz.zAf
tone ruled. or something not In evtdzIlze'
for over a month.
Short covering was an influential fae@ez3
in the rise. but there was also good bnxE +
ing. some of 1t credited TO large intefeztzI
OF considerable importance was the f=Et|
that the bond list also enjoyed a azasI
rally and reflected am increased investmzlt#
demand.
While it must be admitted that ~pro=z=
SionaI sentiment as 10 the markers in,z=z
it, f,t,,ra l. s+i,, n,ivad ~ aan,tzz2
on,rian owe, In co,sarvativa bo,pi,@
cies is thar tbe recovery win no co,t o.
80 ~ -. saa - ~
= M n''e p'opos
.eatss..S - soa,r.t,- - 49,
~ s 80 pl.oes Mqs -
on - /" "
'als eisuas'on.
NO. oi'y was .n's Improvement suas.z===
tlal, put II ID expected 10 continue anu -
be accompanied by q rurther recovery 2
quotations
Ihe iact that there Is SUN OUTSTANDING :
considerable snort interest," is expected -
prove of assistance In forwarding this re-
coyery.
lhere Is every feason 10 oeieVe 'nat Ms
currency premium will disappear befofe
the end of the week-many expect within
the next two days. Last weeks steady de-
cline in this premium wa regarded BY
many as the keynote to the financial situa-
ton. The maximum premium was outy i
per cent, against S1a the previous Week..
Late last week the premium dropped TO u
per cent, sales at tnat leVei peins Nnaoe
on Friday and Saturday.
There were similar declines In the cur
rency premium at PhnaoeIpnia, Uneasy
and other centres. where confidence Is also
expressed in its early disappearance.
Active steps, particularly through the
West, have been taken for the full resump-
ton of cash payments by the banks. ms
favorable development is also expected TO
take place gradually throughout this week
and within another fortnight cash pay
ments by the banks will probably be re-
sumed at all centres.
With the early ending of the currency
premium at this centre 1t can De eonn,
IDENTIFY said that the New YORK pahks Will
shortly resume full cash payments.
1t is of interest to note that the currency
premium was hrst quoted On
and il it continues until next Ihursuay
will cover a period of nVe weeks oi -
actlv the period covered by the currency
premium in 1898. The rate has gone as
high as 8 per cent. or also equal " nv
maximum in 1898.
The main cause tor the early return .,
normal banking conditions is to be louls
In the record gold importations anu ~hiSn
are more than twice the previous reeoia
gold import movement, also hlaoe az
the 1898 panic. uad
Another cause was the return OF hoa
| currency premium and party 90
the return of confidence. Inc soio half
ment was continued during inc eaiaS ,ants
Of the week, and totai
amount to s10o, 1885, 800. q a+ated
In banking circles, ho"eNei' have
that mony OF these ensae been an
been cancelled, otners NV 4ba actual
nounced IN dupheate anu - Is ap-
or revised gola import mossarS .h,z about
~ = srr,Sed hera
So5,ooV,ooo mas pom .,sfeu I
In the iateel ,ha,l ~ Io bulk
eSenahe $500 aaia iynnorts have been "a
of the recent gold imports 1ass ,n e
sdseu oAAS - aada . nroet On tha
currency pieuiun. ~ - - 49,
trahsao.lon' - hat pren,i,n is na furaIiv
appea. = re and Of tba eold
eApesso1
Althoueb some further engagements are
so"is auna1tad 20 ne m small
po, snDn IA .ha cold movement NAV now
W M .n have sndad The turn in the
pe eot4tan 49, aIso he said 10 have
INN LEI .astardov,s a ia 175 raduction
oS tna aaac;, ~ q total of s52 $50. AS. A
sa,oh wore ranid ,eduction ran be safely
nnaIao4as sou ~ ~, eanr yeeLs
mr. u,1dasnraad annrovaI w;fh which the
United States Treasury announcement