Panama City pilot., 1908-03-12
The Weeks Business.

The Weeks Business.
"On the whole, the developments
OF the past week have been favorable.
There are signs of improvement in
several industries, no calamities of
any sort have overwhelmed US, finan-
cial legislation has progressed ma
terlally, money conditions are excel
lent, crop news, such as we can OBJ
tain at this season, is good and we
are one week nearer the solution of
the political puzzle.
Stock prices have shown a firmer
tone, and many bears have turned
bulls-with the privilege of turning
back again tomorrow, be it always
remembered-and the general feeling
OF confidence has been materially
strengthened. And that is tiff that
confidence grows. sufficiently to get
to working like hard cider, it will
start things moving with an irresis
tible force.
Banks throughout the country are
shown to be in a most substantial
position by their statements to the
Comptroller, as of February IA. One
is inclined to wonder what the cOun
try banks expect to do with their glut
of reserves. 1t is just as well that
they retain a considerable portion of
of it, for they will need it presently
IN the financing of worthy business
ventures. New York banks are find
ing plenty of use for their cash in the
occasional bond and note issues that
are coming out, in dividend payments
and disbursements for the quarter
and for their portion of the $50, 0O0,-
600 that must be returned to the
Treasury in response to Secretary
COrtelyou's call.
Call money has ruled. at such a
figure and in such abundance-as low
as IL per cent.-and time loans
around AZ per cent. that the most
eXacting could not complain, and
there is plenty for market dealings if
the brokers bad the business, of
which they are Sun shy as far as the
public is concerned. Nor is the fl
nancial situation abroad strained. In
England, France and Germany finan-
cial matters have continued toward
a steady normal. The departure of
our foremost banker and fnancier
for Europe last week on his annual
vacation was passed without signif-
canoe. The situation has now re-
solved itself into the daily struggle to
pull out, and every item of news is
snapped at to further one side or the
other, with the hopeful element
steadily planting its feet on more solid
ground.
X
Of all that portends to our immedi-
ate future three things may be re-
garded with interest-politics, the
wage question and the crops. AS the
banking situation is perfectly normal
and country banks are well stocked
with funds, thus obviating the ne
cessity of Withdrawals from this cen
ter until the Autumn crop moving,
at least, we may we'll pay attention
to those factors Immediately affecting
US. Of politics little more than obs
curity cOnfronts us as yet.
Favor is clystallizing around Sec
rotary Taft, and his name is being
mentioned with more frequency and
pleasure. On the other side. it is
determined at this stage that Mr.
Bryan will be the candidate. Of the
wage matter, happily, we have so
far escaped strikes, and it is possible
returning business may overtake the
dissatisfaction resultant from read
justment disputes, and we may avoid
them altogether. OF the crops the
early news is good news, and 1905
may produce a bumper harvest. If
it does and we are blessed with the
right sort of a President there will be
humming tune in the industries of /
this country.
AT Washington il is recognized that /.
some sort of financial legislation
must be enacted and one of the bills, /
amended as the Congress is persuad-
ed is for the cOuntry's good, will be
passed. 1t will have to do. We may
not like it, but our financial system
must work out its reformation and
salvation CInr-I,- AM hill nnur mill