The Cairo bulletin., 1907-11-06

New York Nov. 5.-The arrival q
the FIRST treasure ship laden with
gold fer the relief Of the present
stringency was the feature OF the
financial situation today. The kroh
Princess Ceeilie reported on fife
island at 6 o'clock this morning ana
soon after 10 had locked and was
unloading s7.1o0000 gold which VIII
go to strengthen the New YORK BANK
reserves.
The Lusitania will follow closely ~
her wake with $l0.00o.00o, and ST.
GOA q I'D !. a.az6s,6xIiia1 fol low during INC.
a4'iIlalh'l N d I'D III Il
week.
the additional withdrawals Of Tow
0a0 pounds from the Bank OF England
today FOR the United States ana szo'.
mn for canada. brings up the total OF
gold engagements OF the present
movement TO $50 600, 000o. The news
tbat the Bank of France bought TO-
dav 100000 pounds sterling dis on
London was regarded here as az
event of importance, as IT inaica'ss
that French financiers are not oiiis
ab,e but willing to help London aha
Ting Indirectly, to help America ps
relieving the strain on the BANK "
England caused by the heavy Aiheri
can demands for gold. :,
The presence of Secretary Cortei
Won in the city on his way TO vote
gave him an opportunity for furthel
conferences with Morgan and othel
leading bankers.
The secretary came over IRON
Washington with President RooseVel
10 vote and on his way back from DE
home at Hampstead, l. l., decided =
stop off and learn of the financial SIT
nation. Besides Morgan, Corteiyo'
saw other bankersfi who acquaihte'
him with the progress of events
lie was told the situation In New
York was steadily improving becaus
of the developments in the last z
hours.
The bankers who saw Cortelyou Y
aav are convinced that there is no IL
tention on the part Of the presiden
m call an extra session OF congress
mass any remedial financial legNsi'
tion as II is understood the admin
tration feels the situation should Sc
tic down to a basis where proper Jud
mont can be formed on various pr
nosed changes in the present mon
tary laws. IL was further understoo
,ba administration has not yet de
niteiy shaped any plans of financi
legislation. which it may desire
nave considered at the coming sc
sion of congress. 81,
Measures for strengthening u
.,,,st companies upon which rul
have been going on. were under u
thor consideration utoday but thus
!. has not been clear how suiilcle
resistance could be rendered by oth
institutions. and bankers. without "a
,na over assets which they do n
consider absolutely gilt edged. y
nroiact for the acquisition Of the I'
naseae Coal aud Iron company
tha Irnited states Steel Corporate
has improved the situation some"h
bv making loans on the Tenness
company,s secureities more acce
able at the banks.
THAT the corner in the recent me-
tarv difficulties has been turned v
evidenced today when at e0hIefei
81 ! Pierpont Morgan with seNe
other well known financial men
teption was chiefly directed 10
situation in other financial cent
throughout the country to aseeFt
If the strain Of thel asst two weeks
disclosed any weak spcts- with
situation cleared here the eank
feel that they are now IN a posi'
:, render such aid as they can
other points should it prove ne
sary. l..
The treasury has a much reau
cash balance. which was noia.H'
available for deposit in the oanks.
s+iu actually holds about slSevv'