The Norfolk weekly news-journal. (Norfolk, Neb.) 1900-19??, 1907-11-01
PARIS OFFERS MILLIONS
CABLE AN OFFER OF $4,000, 900 IN
GOLD.
STOCKS STRONGER IN EAST

Confidence in New York Continued to
be Rapidly Restored and Stocks on
the Exchange Were Stronger Than
at Any Time Within the Week.
New York, Oct. 31.-Contidence con
tinued today to be rapidly restored in
the financial situation.
Paris banks today cabled an offer
Of fifteen millions of dollars in gold,
If it is needed.
All stocks on the exchange ruled
stronger today than at any time dur
ing the past week. -
New York, Oct. 31-rhe financial
situation is 50 near normal that there
are no new features Of importance.
II was stated by bankers that the calls
for money from the neighborhood of
New York and the entire east APP
pear to be practically satisfied, as such
calls for currency OF an urgent char
acter as were being received came
from points west OF the Mississippi.
These calls are being met as fast as
conditions permit. Mr.. Williams, the
new state superintendent of banking,
gathered up most of the cash in the
suspended banks and deposited 1t
with going institutions, thereby add
ing several millions to the funds
available in the market. The debit
balances against banks at the clearing
house were smaller than usual under
normal conditions, all such balances
aggregating only little more than
100000. One of the points at which
the most pressure for money Is eI-
pected is at New Orleans, in order
TO finance the movement of the cotton
crop,
Public Buying Stocks.
One Of the most interesting devel-
| opments in the situation Is the large
amount of the purchases of securities
in small lots for investment. Most Of
| the large private banking houses
which sell stocks and bonds have been
keeping the clerical force at work
overtime executing such orders and
attending to the transfer of titles to
the securities on the books of the cor
poration by which they are issued.
This Is one of the decisive marks OF
Investment buying. 1t is estimated
by good judges that there are 400, 900
more names of stockholders on the
books Of the railway and industrial
corporations than was the case year
ago. A single large firm reports sales
between 100000 and S750,0O0 per
day. Another Arm states that its wires
to outlying places are crowded with
small orders, directing the transfers
Of the securities to the names of new
owners, while still another frm de-
elsres that there has not been a
movement Of this kind Of such vol
ums for twenty years.
Cables Not Dlsquletlng.
The cables from Europe were not
disquieting to those familiar with
the situation there. II Is generally ex-
pscted that the Bank OF England's dis.
count rate will be advanced today,
but this will be too late to affect en-.
gagements of gold already made for
the United States.
The disposition In Paris to aid the
London market by loan on sterling
bills 10 regarded as an indication that
the French bank Is well fortified and
IL willing to pursue under Governor
Pallain the generous policy which has
usually characterized Ats action in
emergencies. The absence Of any fail
urss in New York OF any importance
except that Of Keasler 4 Co. a pri
vats banking Arm. and the offer OF
call money at low rates were the 9th
or favorable symptoms OF the situa
tion.
Attorney George l. Rivss was ap
pointed by Supreme Court Justice
Lester w. Clarke q receiver for ths
HnickSrbOcker Trust cOmpany