Show HIGH RATES I MUST MT tO GO i Money So Plentiful Credit Ira No Needed Longer B By fly X L Corre Corre- Correspondent Copyright IH 1024 bv v Tho rho Consoli- Consoli led dated Pi 1 CM e A Jan 19 H SIx per cent or or higher oil higher I money borrowed at th bank bids lid 1 film Boon coon to 1 a n memon So Somo mo mans million of ot lalo 1010 dollars arc re In the nation nations s a banki According to Iho ilie resen e boards Int and bore bor- borero roB bor ro roll era are so shy hy about asking a for tor moro morn thin th rate rates long ed on oil a l stable basis so seem oem em to to new no low leVIs within the Ibo next nest 30 diy deys or six x cel 1 om e ery ot of o th tile the coun country try e except ept Texas Toas where whre n agricultural tur tural 1 n lo loins sUIi still lie llo h heavy y In man many ank tho the story Etory I Is th the sam sama The eek S summary summary- sh that bor- bor rowers bor-rowers paid bade back to national husks b during the six Gay period an n excess ot of more oro mor than ISO over fresh borro borrowings borrow inS's lne The legal rf re- the tho r re- re resor erv o ot of told gold in sor banks bank the law law shall bo ho 40 per cen cell rose during the i a-i a n a consequence to more mors than SO 80 0 per pr cent cant Seldom has It touched this ml mark rk before GASH PILES PILE'S Tim The Th board s a implies also 10 that a Are coming more to a cesh c h bis b ls with witha a minimum ot of o credit While Whilo loans lonn dropped durin during th- th th Oh weel about In the tho chief national banks also alao fell off to th the tent o ot of about abot 13 The Tho Inference appears appear to b be plain Mer Mom Merchants chants manufacturers and who hase hao ha been ben doing business bulnes largely on borrowed funds runds now noss are doing bu to 10 extent wIth their 01 os 0 i money Not Men esen en a bull market markot climbing steadily upward 1 ard has checked the tho th flood lond ot of o loan repay repayments ments menta to the banks bank The Tho boards bords statement shows oho show tint thit loans lons s b by stocks stock and bonds bondt on ls declined by more than 19 13 for tor or the Iho oel It la is the monr money lent on that hind of ot that goes roca 1 01 large large- largely largely ly Iy ly Into stock market deals 1019 DONT DON'T CREDIT are ar somewhat som at a loss to explain tho the phenomenon The olum of ot business s remains large Though not w o 0 Jarg Irl perhaps as aa It was ns last lat summer or fall and and the stock mark market markt At Is active Business Is going ah onA as s il ci but doesn't seem m to need ned tOte tho th old tim time line IIno ot of credit Th The national banks bank alone base hao an untouched reser reno o ot of red credit It that approximately 16 15 1 let et this great lending power o er eem seems neither touched nor noticed notice The Th feeling is 10 gro growing crowing Ing that the realm of ot tl- tl finance tl-nanc tl nanc nance Is la becoming cro crowded dd There are aro more mor than bank bank- banking banking ing institutions In n the te country They ha ha haan 0 an n apparent pt arent o Ity oser o Ity for tor meeting bU business ne- ne demand The Tho banks appear fO o have hav out out out out- outstripped stripped I business ad nd h have v gro grown gron n faster th thin n the Iho th of ot the bu world demands s 's As A a reo me- re result suIt sult thousands thousand r rf nall r institutions tlona are re tin finding dIng It increasingly difficult to at nt the Iho th hand hand- handsome handsome some sonic profits of ot dan danE Esen E I en the th federal to 0 I Is feeling Ibe th Meets effects of ot the tho situa situation tion During the tle wai WI treasury receive rec 1 In a single yara year yer as much as as 9 Its Ita tax on th the profits of ot the reserve banks This seam ear of ot th the lack ot of demand for tor credit It will mil rc receive In the tho opinion of ot th the bureau bUdget 10 10 al- al although although al although though the tax nt rite ii 10 I the th same name The Th board boards s a statement this neck eek also alo shows an unusual departure from normal In hI another The amount of or gold goM held hold In the coffers of ot tho the o 0 ob banks b to red m fi roer e notes Dotes In th the tho hind nd of ot th the public Is 2177 21 H 61 amount oth ot of the notes circulating throughout the tho country however h owe r 1 I is placed at but 2084 i 4 In other words the se leae banks hl hse e more moro god go d In tho the vaults vault than the haic hase cun outstanding outstanding- about 83 53 0 moro momo Seldom do does the ct 11 acts actu il LI gold cold old the Ihn out outstanding standing goldIs not not xi Anil AntI yet yot the th gold Is held to ro redeem the notes not in a they y m be presented pre In addition to the tho gold In toe tae v It th the reserve bank anks also haic more than 1000 In oth gold goU gol not h held ld to redeem notes note roy For the th first time lime tim since sine the th war r apparently tho entre ot of federal Merv J currency could 0 he be l I without inconvenience or delay by tho the bold hi 11 held Id to redeem it II When It I Is that ot of the th y in circulation is 10 In the form of fe fc ler Ir 0 1 rOM note nott the volum o of n gold hold hold- holding l ing logs Ings comes come ner ncr th the ot of In terms term that the aver man Ion onn understand Gold GoM GoMI I could be he Bully i for tor formost formost most of ot the cu ncy In 1 day eser-day eri c e lay circulation K It desired delirOd opinIon Tha Influx of ot gold In the orIn opinion Ion ion ot of o some fomo official hero lIero Is In one ot of th Ih chief rC a hy by Interest rates rate are re doon ed to drop soon oon The Tho olden rolden flood 0 00 in unabated uPon our m money cheap and they say ay to tho borrower er and md at nt the Iho time s time making It coors difficult for Cor the banker to keep op ep to his standard profits profit actors As Aa A a result o 0 this thia and anti other taco fac- ac tom tor tors a n ot of o not only corn com com rates matot rato b bit it t ot of redl count rates Is expected soon |