The Birmingham age-herald., 1915-08-17
ACCUMULATION OF MONEY IS PROBLEM FOR THE BANKERS SkeltOn Williams Receives Reports Showing a Decid-
 ed Improvement OTHER FACTORS ARE VERY ENCOURAGING. Indications Are That Common Stock of One of Greatest Corpora
 tions Will Reach Par
 This Year
By HOLLAND

New York. Aug. 16-(Special.) )-Johr skelton Williams. comptroller of the cur. rency at Washington, cautious, as he al- ways has been in drawing differences from the bank reports which he receives seems now to feel Justified in declaring that his latest reports, not from national banks. but from 100 national bank ex- aminers, point to decided improvement in business, especially in parts of the coun- try where there has been some depres- sion
 Yet If anyone were permitted to see the daily morning statements made by the chief bookkeepers in the national banks in this city to the presidents of their banks, he would be likely to discover that the indicat tions are not very pronounced of decided improvement in general busi- ness. All of the banks find their reserves constantly increasing. All of them are accommodating deposits and cannot dis cover profitable use for a considerable portion of them. Some of the banks which year or more ago thought 1t rate of per cent upon deposits now find 1t inexpedient to do that unless the de- posits are for long time.
 The daily record of transactions in the exchanges would lead to the opinion that there are heavy demands upon the banks for loans with which to carry on stock market operations. In the presidents of flee of one of the larger New York banks the statement made to the president this morning by the chief boolxkeeper showed that the best the bank could do in lend ing money to those who are carrying on stock exchange operations was a charge of 1a4 per cent. There cannot be a very heavy demand for money with intent to use it in a stock exchange transaction when the banks are glad to lend at rate less than 2 per cent upon call loans.
 The rapid accumulation of reserves seems to point to the fact that those who borrow for mercantile purposes are not making very heavy demands Apparently much of the large war-order business does not necessitate heavy banking ac- commodations, since most of these trans actions are for spot cash. Nevertheless the indications of gradual and healthy
 
 strong to be overlooked If there could be proof that capital in large accounts Is making investment in the development of American resources, expansion of in- dustries and the improvement In rail- roads, then there would be excellent evi- dence that general business prosperity is under way.
 Rumors of All Kinds
 The air in the financial district, and, in ,s,a t.. ,l.... with rumors, some of which are very pleasant to hear, if there were proof that they contain truth
 They may be based upon accurate in- formation CT they may be based upon guesswork. One of the rumors most per sistently circulated and commonly be- lieved to be accurate is that the common stock of one of the great corporati tions will touch par before the end of the year.
 Another report speaks of very great profits which several of the leading manufacturing industries are now gain ing through their war orders. A rumor consistently circulated tells of the pre- sumptive ability of one of the large corporations to pay dividend before the end of the year which will be great enough to make good the passing of the dividends by this corporation for the past two years. These ultimately must be distributed. The skilled artisans are persuaded that these profits are very great and this explains why so many of them are now making demands for largely increased wages. Yet with many of the large corporations wages were maintained during the months of de. pression although dividends were passed.
 The Gold Shipment
 The curiosity is great respecting the securities which were shipped from London to the United States in compan- ionship with some s2O, 100000 in gold coin which bears the stamp of tue United States mint. Some of those who are inclose touch with large financial affairs are inclined to think these SC