The sun. [volume] (New York [N.Y.]) 1833-1916, 1907-11-14
ma who called on a banker in some

nsss man who called on a banker in some
sI'm greatly worried said the business
man. My safe lie an Old one and ] have
never felt safe in leaving more than $4,000
IN
imeu.S repyled the banker. "lf,yOu've'gOt
$4,000 In currency you're lucky. no matter
where 10 TO-
But replied In business man, I've
got 10000 In 10 now. and IN worried 20
death that craftsmen will hear OF IL and
20 60 ork with dynamite and jimmy"
What thR bRnker replied cannot be printed
In ia entirety euuCed TO calm, eXpur-
gated nglish, the purport was that there
vas = saRs place for the money in hundreds
Of banks and that il was just such Oenighted
persons as this business m n who were
doing all in IN 'ir power TO pull the financial
str cture down on their o "a heads. The
incident, with others, led 90 the conclusion
that relief in many localities ust come
fr N an Oper ton of natural causes, from
return OF confidence. such as has been
witnessed here and which is the essence
suCoogsful business. In Philadelphia.
Pittsburg an elsewhere in the interior II
vas said there must be n return OF conf
dance in local institutions before local con-
ditiOns again GOMEZ normal. The problem
10 one that, to q large extent, every locality
must work out { r itself, New NOrk having
enough to do il moving the wheels Of usi-
meas and generally.
Bankers in small cite and villages thin
' aoh OF interior nOnCial centres and ac-
customed to carry balances In these centres
have built up their cash reserves in many
cases to an abnormally high point Pres
emily. IL ia expected, these bankers will dis
rover that they are losing money v main.
ts lining such high reserves. will recover
faith and Will ! uild up balances in the in
terror financial centres. VI oh relief to the
interior is expected from this m )vement.
Again. principally OH account OF urgent
demands from the interior, the premium
on currency, though softenIng toward
the close, ruled strong between ~ and 4
ner cent. most of vest erday. Bidding for
currency was particularly spirited ON the
part OF distillsrs. tobacco men, brewers,
sugar TefinerS or Others with
ness to the Government for internal revenue
dues ~ customs duties. These must he
paid in lawful money, though il IL under
stood that internal revenue dues have
been paid in some cases in certified checks.
and in scores OF places in the interior Cur-
rency or New York exchange has been
dificult or impossible 10 obtain. New
York exchange in hundreds of cases has
been taken ut the Sub-Treasurv. the Sub
Treasury collecting the currency from
New York banks. which in these cases cash
the checks freely and willingly.
One Pittsburg brewer was reported
Yesterday as paying $50 for 81 900 in New
York funds. presumably to pay internal
revenue taxes. This Is the highest re-
ported premium. On account OF the lack
NJ currency which has led TO the premium
the Government receipts FROM internal
revenue taxes are reported 10 have fallen
OF considerably.
At the close Of business on Tuesday the
Government had on derosit in National
banks throughout the country 1927 ,2SS, $40.
There was &4.S0O. 900 on deposit in the
Philippines. bringing the aggregate amount
mp TO 1882 ,0SS. 200. The available cash
balance Of the Treasury was S242. l36, OO0.
leaving a working cash balanceof SIT. 34S ,0OO.
The gold engagements announced yes
terday we're: Heidelbach. Ickelheimer 4
CO., 81 200, 900; Illinois Trust and Savings
Bank Of Chicago. $500 40: First National
Rank Of Chicago $500, 900; New Orleans banks.
o. yO0c, 900; total. So, $780, go. Yesterday
engagements brought the total for The
movement NJ 10 between SIS 900. 900 and
500, OO0, 900. estimates varying according
10 a variance Of estimates of the amount
cancelled. OF the total amount S3I $50. 900
has been received. Gold to the amount Of
$3.50. 900, mostly in bars, was brought in
BY the Oceanic yesterday consigned to
New York bankers.