The semi-weekly messenger. [volume] (Wilmington, N.C.) 1897-1908, 1907-11-05

mium bringing Hoarded Currency
TO Lght-Markcd improvement I'm
EfaanCiaI Situation BApcctcd.
New York. November y.-The nnan-
cial week came to \ close today with
out any notable developments. The
stock exchange was comparatively
steady during the day with little ac-
tivity. The runs upon banking insti-
tutions seem TO be pracuvcally at an
end and few important conferences
were held by fnanciers. The decline
| in the reserves OF the New York
clearing house banks was heavier than
in any recent experience. but will be
largely Offset by the arrivals OF gold
next week. The apparent loss In the
reserve was about s37.ooo.ooU' out ~
| 900 900 of this was due to the require
ment or twenty-five percentage against
an increase in deposits Of SIS 900, 900.
| This increase in deposits in the clear
| ing house banks apparently represents
| the transfer OF funds from the insu-
tutions which have been subject TO
runs The actual loss in cash, there
fore, was about $30,OO0,OOO which re-
duced the recerve on hand TO about
s225 600, 900. The gold engagements
| increased slightly today by orders
from Pittsburg and other points, maxi
| ing the total engagements TO date
500, $50 900.
| If all this amount should go into
the reserves of the clearing house
| banks it would practically restore
their loss of cash during the past
week Even the diversion of a part
os the amount TO other cities VIII
leave the bulk of the gold arriving to
go into New York banks and will
probably result in an increase OF re-
serve next week. A part of the de-
cline in cash in the face OF heavy
deposits of treasury funds, has been
due to the calls of the country banks
for currency 1t Is believed that these
have been pretty largely met and that
1.-The amount will not be nearly as large
during the coming week. Reports re-
Iceived from various parts Of the coun-
TRY indicate that the system of meet
ling payrolls by checks instead OF In
currency is being largely adopted
without any essential Inconvenience
to wage earners.
William A. Nash, president OF the
Corn Exchange bank. and membsr
OF the New York clearing house CON-
mittee, said in explanation OF today's
bank statement that the clearing
house banks have been taking over
the loans called by the trust COM
hnt fnnro0aAd "a
bank loans. Mr. Nash added:
The trust companies have increas-
ed their deposits in the banks. The
total deposits have thus been increas-
ed without any addition to the stock
S of cash, and naturally, the percentage
of reserve has failed. | do not regard
$ this as significant because the increase
- of deposits by the trust companies Is
O payable, not in cash, but in clearing
l. house funds.
=, THE real matter in the bank state
? ment is the supply OF cash. The loss
n es during the week are not greater
r. than / expected. The shipments To
5 the interior and the boarding or cur.
~ rency account for the loss reported.
E. II believe that from now on there
rs will be an improvement The hoardec
- currency will respond. as IL always
has, to the tempting premium that Il
being offered. The gold on the way
=, from Europe will begin 10 fow II
~ next week and with II will come
F. falling of in the excitement abou
st cash"
/. r,,.
ra Washington, November S.-Treasur
n, officials are agreed that the hnancia
- situation is distinctly improving da
= by day and advices from financial Ger
"a tres today were Of a very reassurin
=, character. News of the opening tn
u morning for business Of the banks
oh' Oklahoma and New Mexico. was
Ne eeiyed with general satisfaction ar
at there is said 10 be abuEdant evidenc
me that the fear or more serious cone
IN tions is subsiding. National banks
geo all parts OF the country are arrangt
ISe 10 increase their circulation and {
al t-easu-- ofRcials and clerks are wor
tort ing overtime In the efoft to keep
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