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STEADILY IMPROVING. The Bank Situation Is Growing Strong Again. The local financial situation continues to improve, and in banking circles especially there is a much stronger and more hopeful feeling than for any time the present month. The first ten days of May there had been a large withdrawal of Eastern money by maturing loans and money sent here for use and for investment, which has, it is said, almost entirely stopped. Some of the leading bankers are satisfied that money will now begin to come back again, which will operate to relieve the market, and give to the sound business men the accommodations which they need in the ordinary course of business, but which the banks have, under the circumstances, been largely obliged to withhold. The continued very flattering reports regarding the crop outlook for the whole Northwest has also materially assisted both here and in the East. At the Farmers and Mechanics' bank yesterday morning business was entirely at the normal stage. The socalled run of a couple of days this week was entirely over, and, in fact, more money was being paid in than was being withdrawn, although it is a time of the year when the drafts for ordinary business with the bank's customers require large withdrawals. President Morrison and Director De Laittre both said that matters were at the ordinary condition, with plenty of money on hand and no one wanting it beyond their immediate uses. President Casey, of the Northwestern, who called about the same time, said that the general situation was rapidly improving. When the bank closed at o'clock for the day the amount of deposits for the day exceeded the withdrawals by about $1,000. Since Monday cash has continually come to the bank from bonds sold at the East, and there is $150,000 more in transit. But the condition has changed so favorably that the bank is not decided as to whether it will sell any more bonds. Including the money in transit, the bank has $850,000 in cash on hand, against $762,000 when the run began on Monday morning. The Farmers and Merchants' is rapidly straightening out affairs. President Scofield said that the additional stock which they are securing for increase of the bank's capital stock was being rapidly obtained, and it would only be a few days until they would again be in shape. The matter of a petition for a receiver for the Northwestern Guaranty Loan company, upon the complaint of Goodnow & Lawther. came up before Judge Russell at 1 o'elock yesterday afternoon. Attorney Bartlesen was on hand for the company, and Cobb & Wheelwright for the petitioners. It was an amicable arrangement by both parties as being the proper way to settle the existing difficulties, the bill owed to the firm being but $371. The attorneys stated to the court that they were not prepared to present the matter, and so departed until such a time as they shall report to the court the fact that the application 18 ready for presentation. Attorneys were present for the Northwestern Fuel company, to which the Guaranty Loan company confessed judgment yesterday for a bill of $190. It is thought that when the matter comes up for a decision a receiver and all the details will be arranged so that the settlement will require but a short time. The Minnesota Loan and Investment company is likely to be chosen as the receiver.
