New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1873-09-30

If any one construed some remarks in this column
Yesterday concerning the dependence Of all our
financial institutions on Wallst., and the experience
of one of our best trust companies. illustrative
thereof into a reference to the t. 5. Trust Company
wemust beg them TO correct the unjust impression
The u. S. Trust COmpany-thoroughly known as
one of the sOundest and most conservative lnstlu-
tons in the country-dOes not lend half Its funds on
stocks at al-never lends on less than 20 per cent
margins-and did not have a single margin wiped
out during the entire PANEL Such record is I'M
paralleled and eulogy could 20 beyond that sim
pie statement.
There were no quotable rates for call loans to-day,
and the difference between greenbacks and certified
checks is rapidly disappearing In discounts fair
business is reported the basis of u to ID u cent
for choice grades.
The following was the clearinghouse statement
Currency exchanges, Sj2336,G0; currency balances,
S2,G49O3O; gold exchanges Sl,662Oj5; gold bal
ances, S53i,5G9.
The advces from London this. morning report
Consols and United States bonds heavy and lower,
on the continued withdrawal of specie from the
Bank Of England for shipment here necessi tating
this morning a further advance in the minimum
rate of discount at the Bank to per cent against
per cent, the point to which it was raised last
Thursday This was not unexpected, as the English
people dislike to see the SOLID coin of the realm"
leaving their shores and the rate will be advanced
to any point to check the outflow. Erie
was active and fuctuating. The occurrence
of fortnghtly settling day caused three failures
of brokers' and the purchases TO cover short sales,
caused late advance in Erie TO 428 a rise for the
dav of nearly two points The bank lost to-day
Gees 900 bullion, taken out for shipment here. and
this with the gold already in transit across amount
ing TO almost $SOO0,OO0 affords practical solution
to the deadlock i'll Foreign Exchange, and means
relief TO the export of domestic produce. A later
report says that GjO0,OOO of the amount Withdrawn
from the Bank of England to-day is destined for
Germany. If this statement prove TO be correct, 1t
will reduce the amount the way here correspond
ingly The effect of this gold was to depIess the
price from 49, at the opening to 11l., though 1t is
to be understood in calculating the causes of the de-
cline from last week that greenbacks also command
less premium against certified checks than they did
then There was less of speculative interest in the
market and the business to-day was conducted
without that exhibition of excitement noted on
Friday and Saturday. The Sub-Treasury commenced
to-day the prepayment Of the interest due NOV. ],
on the public debt. This amounts, according to the
statement rendered Sept. I, TO $l3,4O399 OF which
the coupons Sl041,935 p, are mostly held IN
Europe. The afternoon market was iiTmer Tor gold
with a reaction of half point from the earlier
decline. On gold loans the rates pald Tor use
were fat per cent per annum 1-S2 1-l6 !, l-64 per
diem, and finally fat The Assistant Treasurer PAID
out $1,000 in called Five-Twenties, and S45OOO ID
coin interest on the public debt. The balances III
the United States Treasury at the close OF busi-
ness to-day were: Currency, S2446.4S' special de-
post of legal tenders for redemption of certificates
of deposit. $11 $4,000; coin, S6,Sl9,56S; incl dng
coin certificates S3424O,OOO; outstanding legal ten
ders, SS56OOOOOO. The days operations at the Gold
Exchange Bank were as follows: Gold cleared,
1888 s42 900 gold balances, $99i1O5 currency bal
ances 81 2Ol 1914. The following were the quota
Il g.