New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1890-09-13
A TIGHT SQUEEZEFOR MONEY
MANY APPEALS SENT TO WAsHlN"loN

INDICATIONS THAT Mr.. WINDOW WILL N"
HIS PRICE FOR -FOUR PER CENT BINDS
suGG Esr1oN WORTH CONSIDERING
rbsra w,s little excitement In Wall street yes"i""y'
.,cent IN the money market. The rules VI '"o
Excbange adopted after Saturday was "a"o -.
hw holiday nroyide that demand loans maze oh ri".
shall cxtend to the following Monday Inv go. nv
becn the Withholding OF loanable lunos y" -, ~
bankers who uncertain ABOUT tho "ao an cotur
and other payments they may have 70 mec' vi .,o
dors Although the rate for demand money a' ''e
stock Exchange roso yesterday to ~ po' W."
n,.m,um which Is equivalent to about Aoo po1 WI.
year the fact that the ratio WAS LOT 'hoo on
The comparative rate about 02 per CENT "s"."'' ~.
per cent on Thursday, or II per cent p'o"""' -''
day. .,r.r.r IN start
The stringcncy WAS sufficient, ho"o'or,
roors ~, frcsh action by tho Treasury. IL was IT,
ported eorly in tho afternoon that secretary ""nuo
vas In town and when 10 Was learned Oy na""y "
the subTreasury that no intimstOn OF VIZ, ~
him had been received there, 1t was pou'.Vo- '~.
would be In town Oh his way nom Wiii'M''o""'
whore he Is spending his vacation, 70 wao","e
could not be learned that he had ien MS cou"'' ~
r..t and tho later rumor that Acting secretary eV
t.ton WAS IN tho cty was equally without iou"au''
Tho basis OF the r1imors the hope Una. ''' .on'
ury would furnish rcllcf to tho money TIA" NOV -,
appeals from bankers and mcrchaii'S W. -.
Wnshlng top and there 10 no doubt tha' '"o r.
wss hsut fully informed Of the financial si'uaoh
$50 ,ha, hs was generally urged TO ad'pt
was 70 advance his former price Tor pcr vi.
bonds or to ask proposals for rouhu Az"
he would raise his price was ino'c""u =,
acceptance Of $GOO.OOO at 10. I"e
was instructed W receive aud pay for tncm "~'',
Int the name OF the seller was not made nno""'
is Suspected In some quarters that az s,,'N 'u'"
advance the holders Of a lot Of ten miiio's "o''u
Ii,,Irv, roff Init
hc familiar with the large holdings insisted that ho
such amount was held for speculative purposes
The pressure that has boon brought upon t"e
Treasury to buy per cents mas pec" p''"' ia WV
sequence u the slow progress in redcomi 'c
under the circular Of August 80. anu III Tue payment
Of tho advspce interest on the a. iho '""
Treasury Yesterday redeemed $303.8oO 41-2s ana pre-
maid arc 7vl Interest on about s24.JOOOoO Is.
Tho psvments OF interest ut IN the three DAYS
since the Treasury order went into operation nave Dcc
on only S15,OOO.OOO bonds out OF S'7o'oVV'ooo oa'
standing. A ruling OF tho Treasury department ''H'
interest on registered bonds would not be PAD ior
part OF any holding has prevented the pftscHlA.,o"
Of considerable amounts. The purpose Oh u'' i"',7
IS not plain while has undoubtedly worked h'iu''up
In few cases several millions Of bonds have been
rcIcrtcd ut the Sub-Trasury Oh this account
In tho case OF trust funds. for instance, the Jonas
stand In the name OF the trustee. ana II that
happens TO be Of the large trust companies
one cslac cannot secure the advance interest uic>'
all the others that have bonds In the same company
consent to do 81. similar instance. might be multi
piled and IL IS not impossible that holder OF any
number Of millions might bc deprived Of his Interest
because lie had bold "a few thousands, and the buyer
hid not had the bonds transferred to his own name
Under this ruling the holders might both want the IN
and bc unable to obtain 1t because the bonus
were not presented together Great dissatisfaction
ha, been aroused Ly regulation which Is said III
Wall street 10 be entirrly unnecessary.
A sugscstioD for the relief Of the money morKct
was made Ly John Thompson the venerable VICE
president oil the Chase National Bank It was TINS :
AS the Government Inns the power TO relieve US from
tho danger OF panic. Is reasonable to expect tnat
such rief will come speedily. such retef might %
obtained ny placing money IN the banks secnrc4 ny
Government bonds. was done BY secretary fnir
child but. rs the Republican Administration Is com
mittcd against doing this. ii occurs to me that an
equally beneficial Nnc perhaps more popular measure
can 10 acted npon nov before Congress adJ 'rns
Ny proposition Is that IN act lie passed author
laing the Treasury to advance say par ON the per
Of The bonds waving ntefest while Viey nre on A.
post and csCh party having the power to evvrse TINS
money Transaction the deposition OF the BONDS naShS
power ~ recaim his bonds at any time and the Treas
ury having the power Tn reclaim us money AZ any
time. ,, 81, III, . - .,.s
,ictv t the crrrnry volume 1T IN" Nation. and can
Ia, ,r,l,I ur,u H. III" future we'll as at present ana
prove beneficial 10 all business Interests