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7| d < JEFFERSONIAN *—/ ' b|K’
' EDITED BY
f THOS. Et WATSON • Y
Vol. 11. No. 40.
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The Atlanta Conatitutioa. He Got What He Went After.
SOUTHERN BANKS ARE NOT
TOUCHED.
The Constitution presents below a
series of dispatches from Southern
cities which indicate that this section
has been in no wise affected by the
financial stress through which New
York has been passing.
The unanimity with which South
ern bankers state that Wall street’s
troubles have had on effect on the
South is cheering, for it indicates
that this section, as has the West,
has become independent of Wall
street and that Southern prosperity
which is buttressed on cotton and
tbs products of the mines and ths
Atlanta, Ga., Thursday, October 31, 1907.
factories, is of too stable a nature
to be compromised by a speculative
panic on the stock exchange.
No Nervousness in Columbia.
Columbia, S. C., October 27.
While conditions in New York dur
ing last week are greatly deplored
and are considered without justifica
tion, bankers in Columbia have not
been even nervous and are per
fectly confident that the mental ab
erration which was manifested in
financial circles in the great money
center has already passed and that
the coming week will witness a res
toration of confidence in the New
York banking situation.
The financial position of the South
in unusually strong. There is absolute
confidence of continued prosperity
this fall and winter.
South Carolina farmers have made
good crops this year, and there is
every reason, for confidence in the
future.
Columbia bankers all regard the
situation as bright and believe that
the approaching week will witness a
clearing of affairs in New York.
Charleston Not Affected.
Charleston, S. C., October 27.
The fairly satisfactory conditions at
Saturday’s closing scenes in Wall
street were viewed with eatisfaction
Price Five Cents.
here, and local bankers expect a re
turn to the normal in a very short
time, although Monday, all think,
will be a very busy day in financial
circles everywhere. The quiet, even
tenor of affairs in the South has not
been disturbed, and local bankers
predict a “purging of interests
which are inimical to true banking,
and, as a sequence, the country’s fi
nancial condition safer and saner
than before.” That the prosperous
condition in the South will not be se
riously affected by the “rich man’s
panic. ’ ’
Jacksonville, Fla., October 27.
Jacksonville banks have not been af
fected by the financial flurry, and
there has been no excitement or loss
of confidence here.
Outlook Good in Louisiana
New Orleans, October 27. —New
Orleans bankers begin this week -
with an outlook for better conditions *<
than for some time past. Aside fropa'
the fact that they regard the
York situation as better, a big sugar
crop is just starting to move. As r
this was financed months ago, its «
movement means the return of cash
to the banks. Similarly, but in less
degree, the rice crop, which is excel
lent this year, is expected to im
prove. conditions. Rice i is already
moving to the market.-
Lake Charles, Ll, October 27.
Local bankers' declare there is no
troubX . 'this Section, nor is there
likely to be. There is the utmost
confidence that money conditions
will remain normal.
Baton Rouge, La., October 27. —
With very little money from this
section invested in interests outside
of sugar, rice and cotton, and with
the first two mentioned of those
crops making a splendid harvest, the
financial/situation here is regarded
as secure.
Conditions Good in Mobile.
Mobile, Ala., October 27.—Mobile’s
bankers are confident that recent
Wall street disturbances will have no
effect upon the local conditions. Ex
cept for tjta usual demand for ready
money to Wre for steady cotton ship
ments and to handle the crop, local
financial conditions have shown no
general change from ordinary at this
time of the year. One of the lead
ing bankers summed up the situation,
as viewed by Mobile, by saying the
Wall street conditions are due mere
ly to a rich men’s fight, and that the
atmosphere there appears to have
been decidedly clarified, thereby pre
venting the probability of unhealthy
effect upon local institutions.
Montgomery Bankers Optimistic.
Montgomery, Ala., October 27.
The bankers of Montgomery appear
very optimistic over the present fi
nancial situation, and so far as the
local banks are concerned, they were
never in a more solid or prosperous
(Coitinuad on Page Three,) .