New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1890-12-14
PRICE FIVE CENTS
SECRETARY WINDOW IN TOWN
A CONFERENCE WITH BANK PRESIDENTS
AND FINANCIERS.
THE SUBJECT OF SILVER LEGISLATION occu-
PIED ATTENTION 40 DEFINITE

ACTION TAKEN.

PIED ATTENTION - no DEFINITE
ACTION TAKEN.
Secretary Window came TO New-York yesterday
morning and held long and important conference
with leading bank presidents and fnanclers at the
Sub-Trcasury. He left Washington on Friday
afternoon with POsmaster-iieneral Wanamaker az
whose house in Philadelphia he spent the n15ht.
His visit to this city not expected until in
vitations TO meet him were sent ont by Ellis II.
Roberts. Assistant Treasurer at New-fork. The
Secretary went directly from the to the Sub.
Treasury, but he will not return 10 Washington
before tonight. Efforts TO conceal his presence
in the city were not successful. After the meet
ing at the Sub-Trcasury lie authorized the state
ment, through Mr.. Roberts, that he was in New
York on public business but that he had nothing
to say about his crrand. He positively refused
to see newspaper reporters, and said through Mr..
Roberts. that it would be a relief if they would
not annoy him by their attentions. He declared
that nothing had been accomplished AT the con-
ference whiTl was held merely for discussion OF
public questions
The bank presidents who were at the meeting
we're George s. Coc of the American Exchange:
George G.. Williams, of the Chemical; John
J. Knox, Of the Republic; George F.
Ba kerr Of the First; Henry w Cannon, of the
Chase: Richard King, of the Commerce; Frederick
D. Tappcn, of the Gaatn; Brayt0n Ives of the
Western. and Edward II. Perkins, of the In
portcrs and Traders. Others who were present
we're Cornelius y. Bliss j. B. Colgate. J. PerpOns
Morgan, John A. Stewart and Jesse ScliGman.
Mr.. Morgan remained only short time. but after
the conference had adjourned the Secretary again
requested his attendance and was cl0seted with
him for a long time Mr.. Morgan defined to
say what had been discussed or accomplished
al either meeting. All the Others who were seen
were equally rcticcnt. MesSrS. Coc, Knox, Baker,
Cannon. King, 1appen. Ives and Selgman refused
to speak definitely on the subject. and Mr. Stewart
and one or two others left the meeting before it
ended.
II is understood, however, that the subject
of silver legislation WAS really the only one under
consideration. Tho Secretary said that he had
done all that lie could toward relieving the
financial situation by purchases Of bonds. hnt
that he was willing to do anything more that lay
in his power. He is not IN favor of a free
coinage OF silver, and probably 10 one Of tie
bankers who were present Is IN favor ol II. 10
is understood that Mr. Window intmated plainly
that such measure was likely 10 nc
passed at the present session OF congress-
unless forcstalled by some action. Ihe sugges-
ton of United States Treasurer Huston, whlch
wa, published Yesterday, that the fractional Sill
yer coin should be transferred 10 the hulllon -"
count and that the Secretary should ne althor
lied 10 issue silver certificates for If, was clscHS'
The Treasurer also wished to include the trade
dollar bullion, which, with the fractional silver
would make a fresh issue of about S!5.0oo,"o9
currency. Another proposal was that the Treas
ury should buy each month, in addition 10 the
legal requirement of 100000 ounces Of silver,
,aoagl, more TO counteract the retirement OF Ma
topal bank notes. The Withdrawals of National
bank currency amount 10 about Sl,21O,ooo
month, or 81. 600 600 year. and II was proposc1
that thc Secretary shoEld buy enough silver tI
make good this contracton. The proposition thai
was received with most favor was that the IieaS-
ury should be authorized To buy Al once all tie
silver IN sight of American production. The
amount cannot he a>certaincd The official re-
port of the Mercantile safe Deposit Company,
made yesterday to the stock EXCHANGE showed
o296.N - ounces of silver hulIlpn on hand ana. IN
some quarters, l. W'N cNilm9i'd mar al 'elS' iS
much more would be brOu-ht out ny thN f-lN-
larion II seemed 80 De- ruc general oplaion at
the meeting Yesterday. and II was encouraged hy
Secretary Window. HAT even II IN" amount was
above SI3.OUO.po0 tins cours" would %" prefer
able to "a frcr-colnagc bill About the AMOUNT oi
silver that mi-ht have T. b" purchased under ms
PLAN Mr.. Morgan >ald do not know h'W murn
there IT, do not tnl'N II Is over Sl"'oOo,""o,
hut You ml-ht aS we'll ask tLat boy there, Tor lie
knows rs much about % - do.
Secretary WmIom ARD the persons who con-
no definite action LaD h,cu taken 20, result II
the conference. The Secretary autEou1cd
the statement thai he had done nothing
for the immediate relief of the money market.
snd one Of his intimate friends said that he could
Go nothing more than attempt - affect leelNla-
tlou. The dangers of a wild silver imitation. u
w., said. were fully appreciated, and the opin-
ions of the President and the SECRETARY of tho
Treasury were well known llr Nnioms SUI
DEN visit 10 NcW-lork Was explained on tins
ground.
.lcs>r Sc.man was seen 10y Tribune reporter
after the meeting hUt ne declined IL discuss the
details of the conference. " The only thing that
you can say" MI Scligman remarked. l. that
The Administration l. willing and ready Ia 10
everything IN It's power 10 relieve the SITUATION.
Another banker in diScuS>'ng the situation SAID;
There is no doubt about the position OF the Gov
cruucut The free coinage of silver - opposed,
bui larcrr uSr ut the white metal ls favored.
The opinion of those al the meeting l. that every
effort viii bc used L. prevent any scare aS 10 the
currency question. while fully recognizing the
uc,i of bringing silver further 10 the front"
The question of the issue of an lnterconVerilhlc
per cent Government bond WAS sad by one
banker to have been considered. some pleas
were entered for this plan. but the subject vas
dismissed. i'm view of the more important subject
of lecislation on silver. There are. however,
mauy supporters of the iutcrconNertlhlc bond
scheme. and lis adoption may be pushed further
than talk.