The Birmingham age-herald., 1907-06-17
BANKING POSITION
 BELOW AVERAGE Loans Expand $95,299,693
 Since March 22 REQUIREMENTS ARE HEAVY The Financial Markets Canvassing Obligations to Be Met in Com ing Half of Yearly Set
 tIement.
REQUIREMENTS ARE HEAVY

1 tons Which must be met in the coming | half yearly settlements and to take &C., 1 count of the resources which will be available. The abstention from any active l participation in the stock market, which has been exceedingly manifest is prompt ed to a large extent by caution, owing to l the money outlook The requirements to 1 be met this year are unusually heavy and the banking position is below the average for the season. The dividend and the in l terest disbursements on June l. was, in large measure. responsible for the halt in l the market
 The condition of the New York clearing 1 house banks on which the principal bur- den of the settlements will fall, has been declining rather than improving, the sur plus reserve of those institutions now standing at sf.514.625 compared with $7,07S,- 375 in this week a year ago. The compila- tion of the reports of national banks throughout the country for May which was made up at Washington last week and revealed the extended credit posi- l ton the country over.
 1 Compared with the preceding statement on March 9, loans had expanded somo S95, 99,69S while the comparison with June i IS, of last year. showed a growth in the l loan item, reaching the formidable total 1 of 613. For the eleven months i period. the national banks had added but 1 $4035S,544 to their cash holdings, and of l this amount $35. .371 ,597 had been secured in ] the sixty days preceding the statement comparison of the changes for the sixty days in the items of the New York bank statement shows that the clearing hon I. .rfa1r, &I,,A l... T loans $4,S19,100 and cash holdings $32, ,752.- 900, thus accounting for a large portion of the changes made by the national ; banks a whole The inference is plain ! that the intererior banks were recalling ] credits placed in New York for use at home, while the New York banks were called upon to replace the loans thus re- called. ~ssas= -a-ssr--
 The decision of the secretary of the treasury to recall sso000,o00 of govern ment deposits on July 10, will defer that operation until after the payment for re- demption of the maturing per cent bonds .Gn July 1. which the tfeahGrs t1epa sf- I nent's estimates will amount to .0oo. ] This leaves a margain of possible benefit l to the money market of S60O0,00O when i the operation is concluded, but the usual delay fin final presentation of government bonds for redemption is expected to post pone the full effects of the bond redemp i lions on the money market. Efforts at i recuperation in foreign money markets ] especially in Paris. have placed a burden on New York money markets by gold withdrawals and have helped to deplete the resources of the New York banks The gold export movement was interrupt ed last week. but the sustained flrmness i of foreign exchange led to it's redemption att he end of the week.
 --~-~~~-~---~--~~-~-~~-~-~ 1 dollna into Il means cf fighting agalr st the government and exciting distrust to- wards it among large classes of the peo- pie.
 Lastly, an act was committed unheard of in the annals of history. The judicial authorities discovered a plot by members of the douma against the state and power of the Czar and when our government de- manded the exclusion until judgment mad been passed on fifty-five members ofAthe douma implicated in the crime and the arrest of those among them most com ! promised, the douma failed to carry out immediately the lawful demand of the au- thorities which admitted of no delay.
 Believes in Patriotism.
 All this compelled us by ukase to the senate to dissolve the second douma, fix i ing September IA as the date of the con- vocation of the new douma. Believing however, in the patriotism and national | spirit, we have decided to modify the choosing of elective representatives, of | the people in order that each section may have it's own representatives.
 The douma was summoned to strength- | en the Russian state, and ought to De Russian in spirit. Other nationalitics | forming part of our empire ought to have representa- tives of their needs in the | douma, but they ought not to appear, and shall not appear, in such number as will make 1t possible for them to be biters on questions which are purely Rus | sian.
 ] within the confines of the state, where | the people have not attained sufficient | civic development, tine elections to the l douma must be temporarily suspended. 1 "All these electoral notifications could not have been introduced in the custom ary legislative way by the douma, whose 1 composition is recognized by us to be unsatisfactory by reason of the imperfec- ton of the procedure for the election of | the members of the douma-it is only to l the power which gave the first electoral | law-the historic power of the CZar, that l the right of the abrogating that law and | replacing 1t by new law belongs. God 1 has given us the power of the Czar over our people. It is before his throne we | shall answer for the destinies of the Rus sian states. Believing this, we have made after a firm resolution 10 carry on to the very end the work begun by us for the reformation of Russia. We give Russia | a new electoral law and order its pro- mitigation in the senate From our faith | full subjects we look for united and viz orous service in the direction indicated by us for the country. whose sons have been 1 in all times the foremost support of it's l strength, it's greatness and it's glory. l NICHOLAS. "Giyen at Peterhof."
 Conspiracy Charge.
 | The dissolution of the Russian douma | arising directlyi out of the refusal of | that body to permit the arrest of a num- 1 Der of it's members on the charge of con l spiracy against the state, does not come | as a surprise. In fact, 1t had been freely predicted ever since the lower house hrst 1 met on March 1 of this year that it's dis | solution was only question of time and | the many official denials that the douma would not be dissolved never carried con- 1 victon.
 1 The history of the douma, like it's pred | ecessors, has been one of almost con | stant clashes with the government This l in spite of the fact that consistent ef- l fort was made in some quarters to make | the douma an effective legislative body, and the governments programme for leg
 
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