The San Francisco call. [volume] (San Francisco [Calif.]) 1895-1913, 1907-11-14
Heavy Orders From Central
America Follow New
Treaty of Peace
MORE BILLS PLANNED
Issue of 81 Denomination
Is Expected to Com
plete System

A decided Improvement was
noticeable in banking circles yes
terday and any apprehension
that may have existed previously
is being rapidly dissipated. The
farm products which have been
held UP since the last days of
October have begun to move
eastward and with their arrival
there a new flow of gold will set
IN toward California. Coincident
with this have come large orders
from Central America following
closely upon the general peace
agreement signed a few days ago
by the belligerent nations. Some
of the largest orders that have
come to San Francisco from
Central America were placed
during the early part of the week.
This includes a record shipment
Of -four to Salvador and general
cargoes to the other Central
American states
In commercial circles 1t was conf
IDENTIFY stated that the call for the
extra session would come before the
end OF the week. While the governor
refused while here to commit himself
definitely, IL is known that he will
limit the scope of the special session
as far as 1t can be done. While he
made no promises. representatives of
the savings banks are confident that
the relief which they requested will
be granted. This will make the pay
ment of taxes to some extent a mat
ter Of book keeping, and instead of
locking $s,oOO,oOO or $4,000 600 in the
vaults will keep it in circulation
At the clearing house it was stated
that the new certificates had done their
work well. So far certificates to the
amount of s2,5oo.ooO have been issued.
Provision is being made to place in
circulation a number OF smaller bills
in the sum Of two dollars The one
dollar certificates have been absorbed
so rapidly that a further issue may
be necessary to meet the demand These
certificates have found their way down
the state and into Nevada, where they
are readily accepted in lieu of coin.
The subtreasury reported yesterday
that it had paid out to California banks
nearly 100000 in gold and silver coin,
on transfer orders from New York.
Most of the money went to Oakland
banks. Thirty thousand dollars went
to Seattle bank. $4,000 to Humboldt
county institution and 100000 to a bank
in Sacramento. The remainder was
distributed to various banks in the city.
The custom house reported that its
receipts for the day amounted to
s24,272
1t Is freely predicted In banking
circles that the holidays will be con-
tinued for some time to come. From
the governor has come the assurance
that they will be proclaimed for the
remainder of the week, and in local
political circles it is stated that they
may be continued until the legislature
is convened or even later
A local banker called attention
yesterday to the fact that the tons of
grain, beans and fruit which have
been held up temporarily because of
the furry have begun to move toward
the eastern markets. When the ef-
feet OF the stringency was first felt in
California, buying Of produce halted
for the lack Of necessary coin to carry
through the transactions. With the
clearing of the situation in New York
and Boston has come renewed de-
mand for California produce, and as a
result shipments will be forwarded.
This means an increased flow of gold
to the west Every fall California is
pressed for money with which to move
it's crops and in January, when the
payments begih to pour in from the
east, money becomes easy. There is
no reason. say the local bankers, to
believe that January will not see the
same conditions as formerly.
The directors of the California safe
deposit and trust company will mail
Ia statement today to their stock
holders. Rapid progress has been made
in arranging the affairs of the insti-
tuition and the proposed method of
procedure will be laid before the
Continued on Pace q (soI1r,D . -