Omaha daily bee., 1910-11-13
new YORK STOCKS AND BONDS
Business and Financial Affairs in a
Satisfactory Condition.
INTERIOR BANKS SHOW CASH GAIN
n epo-ts Indicate that Farmers Gener-
ally Are Holding Their crops,
Anticipating Higher Market
Prices.

NEW YORK. No,. I2--,s special Tele-
gram "A review OF the week in uusI-
ness and financial affairs SHOWS very
the fact that IL was generally looked
upon IN the markets as crucial period
because of the general elections.
The harvests are now practically COM
pleted. ana Washington authorities esti-
mate that the aggregate crops iu 1910
Will be % per cent greater than those
OF 1908 ana over per cent greater than
the average annual production OF the
preceding five years.
Wniie prices averaged 5ia per cent
lower on important crops than last year,
the increased harvests will more than
OFFSET this loss IN price. The great buy
viii result from this increase iu pro
auction VIII act as a pow erfui incentive
70 the business prosperity OF the coun-
Interest Rates Ease Up.
The salient feature of the weeks
monetary situation was a very percept-
ible relaxation in interest Ia the local
market 1nts is expressed ia cali loans
day by DAY. finsiiiy closed per cent
under the high point Of the week. Time
money followed with reduction of q
There was q small gain in cash by
banks from the interior, after weeks OF
heavy losses. Increased disburs ements
from the subtreasury also aided the
money market Other domestic centers
nave not experienced any such reluNu-
In the south. after marketing cotton
in liberal manner during the first two
months Of the new crop, planters in
many instances have adopted the policy
OF holding for higher prices Ihis has
prevented the return flow Of currency
from the south and has tended to keep
money firm throughout the cotton belt.
me greatest tension at the present time
Is ia the middle west, where money gem
orally is firm at per cent Throughout
the grain regions farmers, following the
example of tho southern planters, are
holding wheat and corn for higher prices.
RMS causes Interior banks TO draw down
their Chicago balances, and at that city
bank loans have been expanding while
bank deposits have been declining. thus
naBKiihs not only an unsatisfactory but
really an UNSAFE money position.
Drop in London Rates.
In London discounts first eased up and
then developed increased firmness during
the week. A factor in the weeks develop
lnents IN the financial world was the break
the result OF recent speculative borrowing
at London and Paris by American inter-
ests
w lille there was no heavy buying on the
stock market To-Day, prices rose to higher
level than prevailed Yesterday Prices
opened fIactionally lower than yesterday
put soon rallied, recovering all the losses
! before the close. The close was firm, but
there We're comparatively unimportant net
changes for the day
Even the usually active issues such as
United states steel, Reading, Union Pa
cific ana AmagGmated Copper were com
parauvCly neglected.
The banks were enabled to reduce their
actual loans $l0,ll50U during the week.
Ihis was due TO liquidation IN the stock
market and the general shifting Of loans
to London, This was regarded as the
chief factor In adding S8S3l,U5 to the
actual surplus.
The Foreign exchange market showed
weakness again today, owing to the larger
offerings Of finance bills by the interna-
/ tiOnal banking interests that have bOr-
I rowed fully $15,O00,O00 or 900 abroad
within the last fortnight
The time rates were Az to per cent for
and four months, and AZ to "a per cent
for five and six months
Number of sales and leaSzng quotations