The Montgomery advertiser., 1907-10-31
.MciEY CALLS ARE SATISFIED Financial Situation Is Nearly Normal. HELP FOR MOVING CROPS Cash from Suspended Banks Put
 in Circulation. Secretary corteiyou !. Planning to Aid tAe Movement of Cotton and sugar
 at Port of New
 orleans.

| New York, Oct 3o--The financial
 situation today was so nearly normal that there were no new features of iri- | portance.
 It was stated by. bankers that the | calls for money from the neighborhood of New York and the entire east ap- I peared to be practically satisfied, as such calls for currency of an urgent character as were heing received came from points west of the Mississippi.
 These calls are being met as fast as Mr. Williams. the new state supertn- tendent of banking. gathered up most | of the cash in the suspended banks to- day and deposited 1t with going insti- tutions, thereby adding several mil- lion dollars to the funds available in | the market. The debit balances against banks at the clearing house were smal z | tions. such balances aggregating only little more than $e,oo0.0Oo on clear ings of $266,00O,000.
 One of the points at which the most |. serious pressure for money ia ex- pected is in New Orleans. in order to rnance the movement of the cotton crop. The pressure there is always heavy at this season of the year and prom 1 ises to be even more intense this year than usual unless special preparations are made. The New Orleans bankers appear to be more fully alive to the situation and are sndeavoring to arr range for transfer of money from Flu rope in payment for cotton through the fiscal agents of the United States in Europe and its direct transmis- sion by cable to New Orleans.
 A committee of New Orleans bankers is in WashinEton and hopes to secure a promise from Secretary Cortelyou of the deposit of rubstantiat sums of pub lie money in New Orleans and ether Southern institutions. Secretary cor telyou appears to recognize the fact that benefits conferred by this policy viii not be limited to New Orleans and
 fhe eouths hut will asd In the fuova-
 naenf for the prompt deliver yof' Anaerica's products in Europe and the creation of . credit bAiance which VIII covsr the imports of aaIds Cotton nAiis arc being closely scrutfnized in New. York and cannot always be negotiated quite so promptly as in normal times but where their character is unin- naarhable, they are recognized as Forming one of the best means of covering the gold import movement.
 Purehase of Securities.
 One 1.-the most interesting develop rnents of the situation is the large amount of 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 over time executing such erders and at tending to the transfer of titles 70 the securities on the books of the corpora- tion nv mich they are issued. This ts one of the decisive marks of invesk-
 Tt ia estimated by good judges that there are four hundred thousand more names of stockholders on the DOCKS o' the railways and industrial corpora lions than was the case year aEo
 A single large firm reports sales pe- tween $500 900 and s750,000 per day
 Another firm states that it's wires tn o,,tlvina, places are crowded with snaH ordsrs. directing the transfer Of the Securities to the names of new owners while still another firm declares tnet there has not been movement oI tnls kind of such volume Tor twenty ses ss.a.
 while 1t requires a good many saies ,,, san,ail lots to reduce the congesteo
 ss.,,rifies on the stock market, the eI- e~ct oT every withdrawal from the
 aTs,tJtv of speculative stocks ts bene-
 6cial 10 the market. This IS regaroeu as good augury by the pond aeaisss s
 whose market has been very nat TOT ,.anv roonths. but who believe that thev will be able to dispose Of many
 vood securities as soon as the present
 furry has substded.
 The cables from Europe were not dfsauieting to those familiar with tne situation there, The fact that tne Rank of England has allowed the ques- lion of raising the discount rate to go oyer until the regular meeting Of the
 -avsrners on tomorrow, fs regarded as an indication that the demand TOT gold is not causing unusual anxiety there Tt is generally expected that the rate as the Bank of England will be ad- ysncad tomorrow, but this will be too late to affect foreign engagements of gold already made for tho United States
 hs,is is regarded as an indication that Ina rrench bank is well fortified and is willing to pursue under Governor Pal- Iain the generous policy which has usually characterized its action In emergencies financial or mercantile, In, New York of any importance, except that of kess- lar and Company, a private banking firm, and the offer of call money at lower rates than during most of the l time yesterday were the other tavor- | able symptoms of the situation.
 / Attorney George I. Rivas today was | Q annointed by Supreme Court Justice | Tester w. Clark as received for the | Knickerbocker Trust Company in place | of Otto T. Barnard, president Of the New York Trust Company, who de clined to serve. A bond Of Sb0O,eOO was required. ,.s.- MA are Ernest Thalman and Henry c. Ide. |
 INCREASE CIRCULATION.