The semi-weekly messenger. [volume] (Wilmington, N.C.) 1897-1908, 1907-11-01
FINANCIALLY SAFE
Her Present Need l. for Money 70
Move Crops-Cotton Movement
Slow OH Account OF Inability o.
Bank to supply Cash-CondiIlI'
Throughout South Mos EnCou~Ng'
ing.

throughout south Most Encou~as
ing.
New Orleans. October 29.-That the
south is financially safe and in posi-
ton to benefit greatly the other por-
lions OF the United States Wa ~"
opinion expressed today by New Or
leans banker and business men. The
immense exports OF cotton and
also sugar and rice are relied OF
shortly TO bring in gold from Abroad
IN index OF the south's prosperity "as
the mount Of shipping nj this port
today. There were fifty s~ea-goinE yes
sells in the harbor and In ADDITION
scores OF river craft piled high w'th
sugar. molasses, cotton and rice. The
harbor activity was all the more sig
niicant because IL followed on the
heels Of a months strike OF 10000
levee men. Within the last - hours
alone twenty sea going vessels have
arrived. Partly as a guarantee
the unhampered movement OF th"N
staples speculative activity involving
any unnecessary risks In other lines
OF business was today suspended In
New Orleans 10Th local stock eN-
changes closing until Monday. The
cotton exchange continued open.
Reports came in today from rdral
districts in Mississippi. Alabama. Ar
kansas and Tennessee, that small
banks have followed the lead ~ the
cities and have taken united action 10
nrotaCt dnDOsitors from loss or money
or confidence.
Following n conference of New Or
leans bankers. Charles Godchauy. pres
ident of The Whitney Central Nation
al Bank. today gave ont the following.
New Orleans and the south can hc
Of great benefit in relieving IN" 'i'u-
alton throughout the country. n ne
cast will assist hv ALLOWING som" NJ
the currency dcuCsitod with II hN the
government to come this Wa. in or
dor 70 move cotton ar1 o"""r r0U
THE cotton movement IS slow ow-
ing to inability of the banks here 10
supply the necessary cash The banks
are buviug foreign exchange literally
Getting New York exchange In pay
mont therefor. but thew will soon be
~ = etandetiil. rs the currency Canrot
Nn hrOv"ht down 10 suDnlv thor
~ r. somc plan can ro found 10
ro~odv this. conditions in New Orleans
viii 10 greatly improved This VII
cleo nlaco New York banks In pOs@o.A
sion of foreign exchange with Wick
70 obtain gold from abroad
The sugar crop. which prOmiseSV'
hc large. is not a disappointment. md
the yield Of sugar per ton Of cane is
fully up to expectations.
1.-THE decision of the clearir" house
here to isue clearing house certificates
10 restrict the daily Withdrawals ~
cash. and TO enforce the SIXTY day Tuie
for savings deposits. has met with
unanimous approval of the community
ar large"
Henry B. Schneider, president Of the
New Orleans board OF t-ado raid
Conditions throughout the south as
reflected in the finances ard ORR
merce of New Orleans are most en-
c~ouraging. The large movements or
cotton through the ports OF New Or
leans. Galveston. Savannah, Whining
ton and Norfolk and large sales OF
other commodities 70 foreigr upOints
are eyerting n healthful infueYc,. -
wn arc most sanguine ne TO the shcN-
ing the south will make in the year
1907.