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CREDIT BALANCE ABROAD IS BRINGING GOLD HERE the president, Secretary Cortelyou and Representative Tawney of Minnesota, chairman of the house committee on Movement of Crops Facappropriations, at which the financial situation was discussed. Secretary tor in Relieving Need Cortelyou reiterated his statement that the financial situation was substantially improved. He stated also that for Money. the government now has on deposit in national banks $213,615,242 and that if it becomes necessary to secure additional funds to deposit in banks, he MUCH GOLD ENGAGED could use the bonds for Panama canal construction work, as was done by Secretary Shaw. It is stated the president approved the adoption of that Western Banks Take Measplan, should the expedient be deemed necessary. Iowa Conservative. ures to Safeguard Their SupDes Moines, Iowa, Oct. 29.-Four ply of Currency. Iowa cities have adopted precautionary measures for the protection of their cash reserves, Des Moines, Sioux New York, Oct. 29.-The financial City, Dubuque and Council Bluffs. In Des Moines the rule was receive situation was without notable developin good spirit and there was no disments today. Abating interest indiplay of uneasiness at the bank councated the public had pretty well gotters. Reports from many other Iowa ten over its scare. The stock market cities indicate a normal condition with was a little unsteady but without exabsolutely no restrictions upon the treme agitation. The announcement business. Burlington banks have a that the Imperial Bank of Germany surplus cash and were sending out had raised its discount rate from 51/2 some of it yesterday. The state audito 61/2 per cent in order to protect its tor, who supervises Iowa banks. exgold holdings was not unexpected by pressed confidence in the stability of bankers here. Iowa's banks. "Their condition is and England May Follow. has been excellent," he said. It is thought quite likely that the Legal Holiday in Oregon. Bank of England will follow suit by Portland, Ore., Oct. 29.-At the reraising its rate at the regular meeting quest of the Portland Clearing House Thursday. Last year when the Unite association, Governor Chamberlain last States was absorbing English gold the night declared the next five days rate was raised by the Bank of Englegal holidays in order to prevent a land at a special meeting and it will money famine in the state. The banks be a favorable sign if the matter is of this city are absolutely sound, and not taken up until the regular weekly there has been no run on any of them, meeting of the directors. nor has one been threatened. New York High Bidder. Banks All Closed. The scramble for gold is such at all Oklahoma City, Okla., Oct. 29.the financial centers, London, Paris, Every bank in Oklahoma City remainBerlin and New York, that metal will ed closed yesterday, in accordance go to the highest bidder, and under with orders issued by Charles Filson, present conditions New York is likely acting territorial governor. It is unto appear for a time in this role. Its derstood that the order affects all naability to get gold is due not only tional banks in Oklahoma and Indian to the need for it, but large credits Territory. which are being established by the The action was taken because the movement of crops and other products. banks of Kansas City and St. Louis notably, wheat, cotton, copper, bacon refused to forward cash to the banks and meats and by the sale of Amerof the southwest. It is said that a teiican securities. ephone consultation of many of the Should Restore Normal Balance. bankers of Oklahoma, Indian Terri These influences are usually more tory, Arkansas and northern Texas potent than artificial measures to obtook place during the early hours yestain yellow metal, It is believed terday morning and that all decided this will be effective to place sufficient upon similar action. gold at the command of the New York One Bank Absorbs Another. market and to maintain credit and Kansas City, Oct. 29.-The Wyandott cause a resumption of banking operaState bank of Kansas City, Kan., with tions in the usual manner within a few deposits of half a million dollars, was days. Runs upon banks have practiabsorbed this morning by the Commercally ceased since the banks adopted cial National bank of Kansas City, the policy of paying the large depositMo. The absorption caused no comors in checks. ment and is considered only an inciGold Will Help Relieve. dent. New York, Oct. 29.-Great assistance
