The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1907-10-30

4 points lower than yesterday. Uniol
Pacific and Canadian Pacific were tn
specially weak points.
Notices of Withdrawal Stop
| Chicago, Oct 30.-The local f1nancia
situation showed today Improvement
over yesterday, and matters were NOV
ing along smoothly in all directions
The savings banks reported that the
withdrawal notices had practically
ceased and that all uneaSinesS among
depositors had been allayed. The crowds
! in the banks were no larger than ordi-
narily.
speculation in margins compelled some
weakness on the board of trade many
holders being unable to carry their lines
for a longer time Aside from this one
feature financial conditions seemed
normal
On a Notice Basis.
San Francisco. Oct 3O.-Acting on
| the advice of the clearing house asso-
| citation, the savings banks of San
| francisco decided to place their de-
positors on notice basis" They
| will not pay out funds unless a notice
| days, according to the sums to be
withdrawn. Notice of 10 days will be
required on sums from 500 to $1,000
and more time if the amounts be
greater.
1t was stated that this step was
taken not because of immediate neces-
sity, but to provide a precautionary
measure and to act in accordance with
the clearing house representatives.
The savings banks are not members
of the clearing house association.
Every savings bank Of this city was
reported to be in excellent condition.
For months preparations have been
going on to meet any eventuality, yet
1t has been impossible to withdraw
every dollar deposited from invest
ment.
r. NJ. Tobin. secretary of the
Hibernian bank, said after the meet
ing:
1T is believed by the savings banks
that the reasons which made this step
necessary will soon disappear and
that an abundance of the circulating
medium will soon render it possible to
resume the regular course of their
business"
The mercantile community accepted
with complacency the adoption of
clearing house certificates by the COM
mercial banks and no serious dis
turbances of the usual routine of busi-
ness life was reported. Secretary of
the Treasury Cortelyou today tele-
graphed authority to Subtreasurer
Ralston to pay the local national
States government bonds deposited
with the subtreasury, which has $39,-
100000 in gold and silver in it's vaults.
1t was confidently predicted that
present conditions will last for only
few days.
More Money to Hand Out.
Washington, Oct. 30.-The comptroller
of the currency, under the direction of
the secretary of the treasury, is max
ing special effort to increase the cir
culation of national banks where the
maximum amount is not already taken,
and in money centers, where the in
crease will be most beneficial 1t is
expected that quite large addition to
the circulation will be the result.
Plan to Get Ready Cash.
New Orleans, Oct. 30.-Cotton ex-
porters here are discussing a plan for
securing ready cash for export cotton,
thereby lending relief to the export
and domestic markets and to tn Q
movement of the cotton crop. This
plan cOntemplateS requesting the
European buyer, who purchases in this
country, to deposit with the European
fiscal agents of the United States gov
sires to apply to the purchase of cot
ton. 1t is believed that through the
treasurer at Washington there can bo
obtained a transfer of credit to the
subtreasury in New Orleans with tho
result that the American exporter will
draw against actual currency in New
Orleans instead of selling so or 90
day bills of exchange.
1t is pointed out that aside from the
present low prices of cotton to be
taken advantage OF, some European
buyers might find the system ad-
vantageous through the prices now
obtained on foreign exchange.
A Run Started in Pittsburg.
Pittsburg, Pa, Oct 3O.-A run was
started shortly before noon on the All
Nations bank, a small concern in the
South side section. Depositors, who are
mostly foreigners, became frightened
over a report that one of the banks
officers had left the city. This was de-
MED. The bank is declared solvent.
Opening Date Indefinite.
Pittsburg, Pa, Oct. 3O.-The direc-
tors of the Pittsburg stock exchange
met again today and decided to keep
the exchange closed. The suspension
has been in operation one week today
sumo.
Financial conditions continue to show
a favorable tendency.
Proclaims Holiday in Washington.
Olympia, Wash, Oct. Ex-Governor
Meade has declared legal holiday for
the balance of this week. This meas
ure was taken principally for the pro-
lection of the country banks their re-
quests for money having been denied
by the banks in the clearing house
cities.
Ogden Banks Have Plenty.
Ogden, Utah, Oct. 30.-The bankers of
Ogden met last night and decided not
to resort to clearing house certificates
as safeguard against withdrawal of
deposits. The banks here hold such a
large surplus of cash that their CORE |
spondents in northern Utah and Idaho |
are being supplied with money to the
full extent of their requirements.
A statement issued by the bankers |
after their meeting was to the effect |
that never in the history of the local I,
institutions was there a sounder finan-
cial condition.
No Holiday for Them.
Bellingham, Wash, Oct 30.-The local |
banks today decided to ignore the legal |
holiday proclamation of the governor.
Not Even Certificates.
Helena, Mont, Oct. 30.-Helena bank |