St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1889-10-22
Secretary Window Sees No
Indication Of StPingency
in Uncle Sans Doodle.
The Predicted Bond Corner
Does Not Loom TO Any
Conspicuous Extent.
Banks Have the Surplus, and
Are Feeling Quite Easy,
Thank You.
No Prospects Of a Tight Mar
ket or a Big Demand for
Money.

NEW YORK. Oct. 2I.-The Washing
ton correspondent of the Times yester-
day had an interview with Secretary
Window in regard to the money mar
ket. He was asked whether he feared
a stringency or knew OF a corner in the
bond market. arranged to force the
treasury to raise the prices for bonds.
a can see no indications of strin-
gent money market" replied the Secre-
tary. LAS far as l can learn. there is
no abnormal demand for money; moth
ing more than what there IS usually at
this time of the year. The interior mas
made but the customary demand on
New York. but crops have been pretty
we'll moved, and money appears TO be
reasonably plentiful"
''Can you detect any sign OF a bond
corner? Have you any information as
TO whether the bonds or a majority OF
them are in the hands of few people,
or are they pretty well scattered?'
Il have heard nothing to lead me TO
believe that there is a syndicate at
tempting to get control of the bonds. L
believe that the registered bonds are
pretty well scattered. There are some
10000 holders of this class. The IN
registered bonds. of course, we cannot
tell anything about. Some of the form
or bonds may have been transferred of
late by their original holders. and the
treasury department would not neces-
Sarily know anything about that, but L
have not heard that such transfers have
been made, OF that bonds are being alb
sOrbed by few people"
If money were tight and commanded
heavy interest. would not the holders
OF bonds be more anxious to sell than
they are nOw?"
That would naturally seem 10 be so,
but the purchases have not been small
by any means. They are about what
they have been for some little
time back. cannot give
you the exact figures. as
have not been signing the
mail during the last few days, and As
Sistant Secretary Batcheller has acted
as secretary while l have been busy on
my report. but | believe that we pur-
chased last week about SS.O00,0OO worth
of bonds. The money we are disbuTSing
in the purchase of bonds is about equal
to the daily surplus shat is, 10 the eX-
cess OF revenues over disbursements"
Suppose there were danger of a Strin-
gent market. would you feel justified in
paving more for bonds than you are at
the present time?'
Il should not like to answer that queS-
ton Off-hand. and l should want to know
the extent OF the danger before l should
act. The surplus. however. i'll any case,
is in the hands of the people at pres
emit"
In what way?"
by being distributed among the ma
tiOnal banks. the policy inaugurated
bY the last administration in this re-
specI has not been disturbed as yet"
But the banks are naturally not
leaning this money as freely as they
would if it were not sucject to CALL
THAT need not cause them any an
prehensiOn." said the secretary, ''as the
deposits are covered bY bonds. and if
they are not able to return the money
when the demand is made on them for
it. it is easy enough for them 10 sell
their bonds"
But at loss. pTObably?"
"NO. think not. l do not believe
that the majority paid the top prices for
the bonds. and the loss would not, in
any event, he greater now than it would
be if the bonds were held until MA
turity."
Then you see nothing in the present
outlook to cause any dlarmY'
Il do not: and. unless something un-
fOTeseen arises. there are no indications
to point TO tight money market or an
excessive demand for money, which
cannot be readily supplied"