The White Pine news. [volume] (Ely, Nev.) 1906-1910, 1907-10-31

On all sides men in every line of
business yesterday gave expression to
absolute feeling of confidence in the
local banks. Not one business man
expressed the slightest dissatisfac-
tion with or criticism of the action of
the banks in taking advantage of the
legal holidays declared by Governor
Sparks. On the other hand the fact
that the banks disregarded the first
holidays is taken as an absolute guar
antee of their stability, and has ac-
complished as much to assure and re-
tain the confidence of the people as
anything they could have done
Policy Is Sound.
The general expression of business
men is that the banks would have
followed an unsound policy had they
remained open in the face of the hol-
iday proclamation, when they could
not secure specie from their deposit
taries in Salt Lake. The majority of
business men are of the opinion that
if possible it would be well IL the
banks were to reopen as soon as
they can under clearing house rules.
This. they say, would keep money in
small amounts in circulation, and
would prevent, or tend to prevent to
a certain degree stringency In the
local market On the other hand,
there are few who feel that the
hanks should not open until they can
omen under ordinary business rules.
Mayor Clark's View.
'There is, of course, little strin-
gency," said Mayor f. M. Clark to
The News yesterday afternoon. "Thls
cannot last. l have left my money IN
the bank, and l have advised my
friends and business acquaintance TO
do the same. The banks of Ely are
founded on solid business principles
and are worthy of every bit of the
confidence they have always had.
They are permanent institutions, and
the confidence of the business men
of this community is mistaken IN
them. Present condition will set busl-
ness back a little, perhaps. but 1t is
the duty of the people of Ely to work
together. to put their shoulders to
the wheel and work for the progress
of the camp. We must help one an
other for a little while, until TINS
business crisis is over. There VIII
have to be a little credit extended, Oh
oourse Rusiness men should accept
checks of people who are known 10
have accounts, in payment Tor goous
and services and if there is any doup'
about these checks, ask the banks Oh
take small chance.
Under Business Rules.
81 would not recommend reopen,
ing under clearing house rules IT
would be better to wait until the!
can open under regular pus,hess
rules. 1t would be bad example u
the outside to put the clearing house
rule of limited Withdrawals lh1o ei'
feet. Business men shouid pe ooll
seryatiye; cut useless expense OF eA'
nenses that can be cut without say
rificing business and Keep tneir pusi
ness cost within lines that thelr p,si
ness will justify. lived mere wiei ei
we didn't do more than $3 CASH pusl
ness a day and there We're o.hu, ,;.,, .
We lived through it. and we can ii''
through this little furry
Still Selling Goods.
Postmaster w. b. Graham, OF tht
Graham Mercantile, says that tne .1
Srabam Mercantile company Is SUI
selling goods. NJ, oaso bt
said "Both the store here and tn'
one at McGill. All of the smel1el
@ work is going on full speed; we
wouId rather have one family Oh
workmen than twenty-five low ,..s Gas
foreigners. While there was a ii..i' =
difference in business today. the dlI
ference was not as great as had an
ticinated. There were many sales @ II
the dry goods department. ina Il.
looks good The dry goods depart
ment always feels depression h,or' I'
nnickly than anv other line. In ne, ne,
of money we will accept checks IRON
every person known to have an ac
count in the banks.
For General Protection.
Gail Hoag, treasurer of the Fly III
vestment company, said: Inc ac
tion of the banks was taken ior Wv
peneral protection not only OF TN
hanks. but Of the public as We'll
for any reason run started on on
~ hotb hanks. the first ones IN iii