Shoshone journal. [volume] (Shoshone, Idaho) 1884-1931, 1913-05-02
MONEY RATES AGAIN DBcLNE.
tDun's Reveiw.)


Still lower quotations for money
were noted IN the local market this
week and commercial paper also
reflected an easier tendency, with
choice six months names declin-
ing 10 81 per cent. All classes
of accommodation are in freer sup
ply; yet IT IS significant that the
Increased offerings are mainly for
the shorter periods, thus indicat-
ing That lenders are DESTROYS of
keeping their funds available to
meet the crop requirements IN sbe
fan Can loans have renewed for
the most part "a 2A per eeDt-Of
about the same figures as year
agO while Va fixed matlrltjes ere
sIftualiy on : per cent basis
which Is somewhat higher than
The charges current at This iimeI
la 1912. In 20 far as commercial
paper Is concerned. there is a feel
ing ia some quarters lhai the rate
may eventually feccde tp around 81
per cont, although IL is not con
sidered likely that anything below
that level Wall be named Bankers
{ here have recently been buying
shOrl-daied paper but 10 not seem
disposed Ia make commitments ex-
tending into the fall since a gem
sral tightening oi money Is antic
lpaied when ne crop demands be-
gin bO be- felt The members Of
the local Clearing House Associa-
ton continue iO strengthen their
position n gratifying way. the
returns lasl Saturday revealing a
further addition of fully Si.OOONOl
10 the actual surplus. which rais-
ed ihc gain within the past fort
night 90 over ssNlO. GO Most Of
This Improvement has been due 10
an expansion az about SS213.OO In
cash holdings dming That period.
yet The amount held on April 10
was approximately 50 10000 small
Ter than on the corresponding date
a year ago On the other hand, {
the loan account shows "a conlrac-
ton Of 800 10000 as compared with +
That time Late This week mod
crate amounts OF gold were with .
Drawn for shipment 10 Canada, an
outflow across The border being ,
usual al this season Of The year
After touching the lowest level
II The season last week. for !,
lig exchange reversed It's course
and sight drafts advanced close
o 1.SI, or gain of abOu. Ms. The
'ecent depression was due main
y To easier monetary conditions =
ID the leading worlds centers, =
While the subsequent recovery may y
~ attributed 10 some hardening y
II English discounts aud a further y
iecline in local interest rates -
The market iOr sterling was more =
ictlye and the demand for re- ~
uitlance was sufficient 10 absorb !
he light supply Speculative OPP "
irationg were also contributing "
actor IN the upward movement of f,
quotations. Offerings Of commerce. ~
i exchange are limited in vol i,
Ime, particularly IN the matter OF ea
OltOn bills hut II Is expected that "a
rain bills will become more plen- ~
iful when navigation is fully re- ~
umed. On Monday the Bank Of =
highland secured the bulk OF the
4 100000 of new South African
old available and on Thursday that
reported further in-
rcase OF about 81 100000 in hold
lgs OF bullion. This together
'ith another substantial c0ntrac-
on IN loans, raised the ratio Of
serve 10 liahiliteis to i9G3 per
snt, which IS about I y per cent
iglir than the figure reported ON "a
10 same date year ago Ad- ST.,
ices from London Indicate That the ml
Did movement 30 india Is lessen m,
g, there having been decline OF j.
YER 100000 pounds 10 shipments an
that country during March as er.
impaired with The same mouth
ST year pr
Call money was again easy rang an
& from 20 to 3 per cent. with tn,
ost renewals negotiated at 2M
NJ cent There Is only a limited lri
'mand for time funds and rates an
I'VE declined still further, prevail Coz
Z quotations being I per cent for OF
Nty and ninety days. 3 10 IA Bil
r. cent for four and five months Isli
IA ih Ia ii4 per cent for six its
,nlhs accommodation CONNER ma
n paper has followed the reces- one
in IN money rates. the choicest sua
mes running six months now be- org
Z ON n flat liA per cent basis ~