The morning call., 1890-12-12
RELIEF MEASURES.
Proposed Bill to Relieve the Financial
Stress More Failures.

WASHINGTON. Dec. 1.-THE House Com
mittee on Banking and Currency to-day
adopted resolution to request the House
to set apart a day for the consideration and
disposition of Chairman Dorsey's bill to re-
due to $1,000 minimum the amount of
United States bonds which national banks
shall be required to keep ON deposit, and to
permit the issue of circulating notes by ma
ii onal banks to the full amount of the par
value OF the bonds deposited. This would,
it is said, increase the amount OF money in
circulation by S1S,0c0,000, and would result
in the further issue of national bank notes.
When the bill comes up In the House Chair
man Dorsey will move an amendment to
provide for the issue of greenbacks when
ever the national bank circulation falls be-
low S1S5, 100000
MEASURES TO INCREASE THE CIRCULATION.
Morrill, of Kansas was authorized to re-
port favorably bill to subject national
bank and United States Treasury notes to
a state of taxation.
Dorsey, speaking Of the situation, said !:
"The circulating medium of the country is
too small. but we could get along as we did
before If confidence could be restored, and
we hope to do that and increase the circula-
ton somewhat by the bill which we will
call up. The banks all have more money in
their vaults than they ever had before. Our
little banks have twice as much money
in their vaults as they formerly carried.
The big banks wont discount our bills, and
we have to protect ourselves. Then great
deal OF money has been taken out Of tho
banks by people who became alarmed at
the course OF legislation, and locked their
money in safe deposits. A great deal of
money has been sent abroad to buy consols.
Only the other day man told me he had
put 81, 000,0 00, about all he had, in English
consols. OF course, it is foolish, but people
are alarmed"
SUSPENDED FIRMS.
NEW YORK, Dec. u.-Venable & Hey
man, wholesale liquor-dealcrs, assigned to-
day, giving preferences over $4,000.
PHILADELPHIA, Dec. 1.-Assignee Mil
Ter Of Barker Bros. IL Co. states that tho
most important creditors of the suspended
firm have given a years extension to meet
the Indebtedness. 1t Is believed the firm
will resume soon.
NEW YORK. Dec. 11.-Henry Seibert, to-
bacco commission merchant, suspended to-
day, with liabilities at $250.000 and assets
about the same.
Venable q Herman, wholesale liquor
dealers, assigned. with liabilities at $500, 900
to $500, 900.
BosToN, Dec. 1.-THE Bay State Las ting
Machine Company has failed for $751; 900.
BIRMINGHAM (Ala.), Dec. 1.-The Bssse-
mer Rolllng-mllls to-day went into the hands
OF receiver as temporary arrangement.
The trouble was caused by recent failure
OF the United States Rolling Stock Com
pany.
GOLD FROM EUROPE.
NEW YORK, Dec. 11.-Interviews are
printed here with leading banking houses
| on gold importations.
Seligman d Co. say: eve ordered gold
to relieve The situation here. Profit is not an
ohle t. The rate of exchange only per-
mitted profit of one eighth of / per cent"
Heidelbach, Ickelheimer Il Co. say: 1.-THE
rate OF xrhange gave an opportunity to
import gold. The country needed it badly.
OF course, 10 banker would import gold at a
loss. We called our orders at an insigni6-
Cant profit. to tighten the gravity OF the
situation here. We will receive double
eagles"
August Belmont & Co. stated: "Gold was
ordered by us because the price of bankers
bills permitted profit on impOrtations.
We took the American double eagles be.
cause they have ready market In New
York"
Kuhn, Loab & Co. say: at was a business
transaction which afforded good margin
Of profit. The interest on money for ten
days enters into the calculation. Our gold
is in double eagles"
Lazard Freres said: I'VE saw profit in
cable transfers. 1t is nobodys business in
what form our gold is coming. 1t may be
double eagles, soyereigns OF bullion; tnat Is
our own business"
A STRONG POSITION.
NEW YORK, Dec. 1.-THE Evening Post,
in its financial article, says: The only per-
ceDtage reserve to liabilities, as shown by
the statement of the Bank of England this
morning, is now 46.1 per cent, against 50. IS
per cent at this time lost year. In the last
week the bank has lost 60, 567. 600 in specie
owing to Withdrawals for Paris and New
York, but the bank still holds 9322, 329, COO in
specie, which Is comparatively strong po-
sition.
VIEWS OF THE LONDON TIMES.
LONDON, Dec. 1.-THE Times says: The
whole monetary system in the United States
is in muddle. This condition is due 10
Iators. Unfortunately, instead OF there be-
| ing signs of amendment, it looks likely that
further attempts would be made to legislate
in favor OF particular classes. The most
ominous of these attempts is the demand of
the Farmers Alliance for more currency,
and that the national banks be compelled
| to lend money on the security of real estate
| If the latter demand Is ever granted America
will be launched on the dangerous path
which the Argentine Republic has trod since
| the evil day when the first cedula was issued.
| The present crisis Is of an ordinary charac-
| ter, but Is made worse by foolish monetary
arrangements. The only safe cure for il is
| liquidation.
| BRAZILIAN BANKS CONSOLIDATED.
Rio JANEIRo, Dec. 1.-THE fusion of the
| Bapco National and the Banco Estados
| Unidos has been authorized under the title
| of the Banco da Republica. The new or
ganizat:0n will have capital of !, 200, OO0, 600
| milreis. A Government decree also author
ICES the issue of loan of co.. 000, 900 milreis
against one-third of that amount in gold.