The Vinita daily chieftain. [volume] (Vinita, Indian Territory [Okla.]) 1902-1913, 1909-06-12
BUSINESS OUTLOOK
IS VERY BRIGHT
Prospect of an Abundant Harvest Is
Already Having It's Effect on
Monetary Market.

Guthrie, Okla, June 12.--That fin
ancial conditions are conductive to a
good business year is the opinion of
Robert Schlberg, cashier of the Guth-
ries National bank, in statement
on banking matters issued locally yes
terday. During the last eighteen
months, he says, the situation has
passed from one extreme to another.
While in January, 1908, currency was
scarce, forcing institutions to resort
to issuance of scrip, within the year
the supply has increased until a pie
thora of unemployed capital is found
in every monetary center.
"As the interest rate always de;
pends upon the supply of available
money" Mr.. Sohlberg says, "the in
terest rate has gone to the lowest
point during recent years, and yet
even with this low interest rate the
banks are carrying large quantities
of currency in their vaults and on de-
posit in reserve banks
What is true of the country at
large is also applicable to the insti-
tutions of the southwest. Mr.. Sohl-
berg continues:
The healthy mean between the two
extremes which have existed in the
monetary market is now being await
ed by all people who are interested in
the welfare of the country. An ad-
1ustment of monetary affairs is being
earnestly sought by all business and
banking interests. Congress has ap-
pointed a monetary commission,
which is working zealously on the
situation. 1t is collecting data from
various sources in order to reach a
conclusion as to the proper legisla-
ton which should be passed. The
influence of this commission is being
felt everywhere. All financial legisla-
ton is being referred to it. An ex-
ample of the commissions activity
occurred when on the 2Sth day of
April 1909, reports we're called for by
the controller of the currency and the
state banking departments of every
state in the Union. This meant that
for the first time in the history of the
United States every bank and trust
company made sworn statements on
the same day.
"The prospect of an abundant har-
vest is also having its influence upon
the financial situation The effects of
winter killing which is the largest
element of determining the volume of
the agricultural products of the coun-
try are known as at the present time.
The experience of bankers through
out the country during the past years
affords the assurance that August will
bring a large demand for ready funds
in order to move the crop now ma
turing in the fields of the great west
and south. This demand will continue
strong until the 1st of January at
least and in anticipation of this de-
mand the money market is growing
stronger and more certain.
When all things are carefully
weighed in connection with the finan-
cial situation there is every prospect
of a prompt return to the good times
which this country has had with the
exception of the recent depression for
the last twelve years. There is every
prospect of unusually good prices for
farm products and fair wages for la
Dor. A disposition is shown on the
part of all business men to act upon
the optimistic side of the situation
and do their part in creating active
business conditions"