The semi-weekly messenger. [volume] (Wilmington, N.C.) 1897-1908, 1907-11-08
WILL BRIk6 GOLD.
100000 Bushels Of Grain
Ready for Export
CAUSE FOR ALARM OVER.
Everything Tends to Restoration
of Public Confidence
National Situation Throughout the
Country il Sound-Bansers Agree
to Aid Threatened Trust COmpa-
nies-GOld Engagements Amounts
to $50, $50, 06O-Rise in Price of
Foreign Exchange ITO Obstacle
to New York Bankers.

EOFCISh L4CIfdISc HO oUstiACIc
to New York Bankers.
New York, November 1.-THE buoy
ancy of the stock market today re-
hected the ultimate decision of large
bankers to support the two institu-
tions-the Trust Company of America
forts of the comptroller of the cur
rency to get notes into circulation is
meeting with great success.
It was stated today that the eleVa-
tors, boat and warehouses at Buffalo
have $500, 900 bushels of grain and
soc car loads of merchandise and
many manufactured goods very large
ly for export against which drafts for
gold could be drawn the m 1t Is
loaded on vessels that are waiting at
Atlantic ports for cargoes The mag
nitude of this accumulation of Ameri-
can products is indicated by the fact
that the railways find themselves I'M
BILE to move it to SeabOard, notWlth-
standing the enormous developments
of traffic facilities within the last few
years. The New York Central lines
have increased the number OF
their locomotives 81 per cent, within
the last few years and the freight
enuiDment has been Increased Ct ner
, cent at an expenditure or over SI4O'-
OOO. 900. C1neT lines IliNS 49,
increases. but their combined faCll-
tiles are subjected to severe strain IN
getting the accumulated products
from the central west to the sea-
board.
and the Lincoln Trust Company
which have been subjected to most
severe runs during the last two weeks
The day was one of doubt and con
ficting rumOrs and the fact thai II
| nassel without adverse developments
is an evidence that the worse OF the
| situation is probably over. At a iale
hour his morning an a~grcfrnent was
reached, largely through the lnHu-
ence OF Mr.. Mean, by when lhe
trust cOmpanies will cooperate in fu-
ture for their mutual protection and
the directors will lend the assistance
Of their personal fortunes to meet
Immediate necessities. The assets OF
the two threatened companies We're
carefully gone over by experts on
saturday and sunday and both OF
them were found to be solvent Win
3 considerable surplus after paying
all claims and providing tor the cap
itaI stock. Under these circumstances
if WAS thought advisable by the big
men to support them Cordlally IL IHeS
would adhere to thoroughly conserVa-
tive methods in the future.
The achievements of these resuit9'
with the SitduN bpN w.
stock market till the close IS DelleEed
70 mark the turn of the crisis. 1he
hiss of 100000, 900 in cash by
the clearing house banks, ACCORDING
to their Saturday statement, IN spite
of 1000, 900 which had been pour
ed into their tills during the Weeh
from the treasury department, was
4 expected to have n disturbing erect Il
was a worse showing thar VIII Ut
POSSIBLE again in the face OF the heaN1
arrivals OF gold. Gold engagement
since the beginning of the presen
movement now amount TO S52.'oo'Vv>
which would more than brldge III
l loss in the surplus reserve last "eeh
The disturbances which are sweep
. ;na over the exchange market an
~arousing concern in foreign market
. we're indicated TO-DAY by the rise Q
l foreign exchange in New YORK con
p siderablv above the point at WhlcI
gold could p%roftably be lmporteG
= The fact that it is still coming LII
, way indicates the deterhilnatlon ~
New York bankers to strengtne
Y thair Dos:tion even at a loss. Tn
b hirb rate for bills was caused DE III
n demand for exchange to cover the "i
- rivals of gold. ell
. The cotton bills are rot yet luIl
Y available because shipments are $40,
i and the bills themselves are SupJeI'o
To COnSiIoIdbIc 81 I'LL ~
ore taken. The fact that the Ne
- York market bid sufficient prenalul
l. for cold 10 absorb 100000 from u
; onen market anG to q
additional amount of f4S3,o0O lr"I
fine Pank of England Indicated LII
the increase in the discount rate
the Rank of England made at q SIP
cial meeting today before the opeI
at ing Of the New York market. ITO
- to 6 per cent. was rot sul!lcle
le +o check the gold movement: men
arose much ak in London that =
q rate would be advanced to I per cei
at the regular meeting OF the n"a
of governors on Thursday III.
will be the highest rate attalnea l
he many years, but with s5Z''oo,o
n in gold already on the way 10 NJ
- York or engaged for shipments tN
at a higher rate at the Bank Oh I'll
lands would probably not lnJure ~
he terialIv American credit IL Is =
in believed that the Bank OF tFan
would all the Bank OF hngii
, by loans in sterling bills at ia
ne if the situation required 1t
.ge Reports from Washington lnolc'
NJ that the national situation
the country is sound and that the
Don't be discouraged IL other rem