The morning call., 1890-11-12

}. Pierrepont Morgan of Drexel. Morgan
& Co., and that Gould had acquired
control of the Union Pacific Railroad. Gould
was asked to-day about the rumor.. II did
AZ have not seen him lately on
any. subject relating to railroad
deals. and l do not know of any conferences
that have changed the situation" When
asked directly about the rumor of his con-
troll of the Union Pacific he said with i'm
other properties than those am now con-
nected with" "May l give an emphatic
denial to this story?" he was asked.
That would dignity 1t with more impor-
tance than it is worth. have not changed
my views on the situation of railroads l
are secured everything would be well. be-
lieve that people with money will buy stocks
at these declines, and do not think that the
trouble will be serious"
SOUND BASIS.
Mr.. P. Peabody of Kidder, Peabody &
Co. said this evening: "While prudent bust
ness men are not at present spreading sail, l
cannot see otherwise than that the CONNER
cial, trade and general business of the United
States is on sound basis. There is no
great expansion and no large over-specula-
ton in the country, and the community, AS
whole, Is not oyerlnvested. Europe has
sent us an enormous amount of money for
we have the money and Europe has
the stock.
THE TREASURY DEPARTMENT.
WASHINGTON, Nov. 11.-Secretary Win
dom has been in receipt OF dispatches from
New York in regard to the money market.
and asking what steps the Treasury De-
partment will take. Secretary Window SAYS
that he has done all lie can to relieYe the
strain. The daily statement at noon to-day
shows only So, 400,0 900 in round numbers as
available cash in the Treasury, and with so
small amount nothing could be done. His
adviceS to-day, however show a frmer
market and he thinks nothing more is neceS-
sary to be done at present. 1t is stated on
the best authority that within the last three
months the Secretary has purchased $685.
100000 of bonds. When the fact is known
that this amount is in circulation it should
at once relieve the market. 1t is am ac-
knowledged fact that Secretary Window
has done more than any other Secretary by
his wise policy 10 sustain the Government
credit and hep the Administration, and
great credit is due him for his foresight and
judgment.
Secretary Window said this evening that
his latest information from Wall street was
that the situation was improving, with ndi-
cations that the worst is over. He declined
to say whether the Treasury Department
would or would not do anything for the re-
lief of the money market but admitted he
wis giving lHc uldllcE Ills otIlOuS CUuSlutld-
ton.
READY TO REDEEM BONDS.
"The department" he added, Stands
ready to redeem AZ per cent bonds to the
extent of its res urces but it is not
ready TO make any overtures to the
holders of per cent bonds" The
Secretary said further that the recent
heavy disbursements had reduced the
available surplus 10 $4,000, 600, and it was a
question in his mind whether this small
working balance could be still further re-
duced with safety to the business of the de-
partment.
ENORMOUS DISBURSEMENTS.
1t is true the National banks hold S22,-
000,000 of the public funds, but he did not
care 20 disturb those deposits at present.
In explanation of the small surplus, the
Secretary said that during the period from
July 18th last the date of the circular in
viting proposals for the sale of bonds, to
October 3lst, there was disbursed from the
Treasury S100. .0C0 000, through the purchase
of bonds and the interest on payments, and
$4,000, 600 on account of pension payments,
which, together with the issue of nearly
S13,000,001 in new notes for the purchase of
silver, made the total amount of money put
into circulation S163,000,0O0
These disbursements" said the Secre-
tary, were $4,000, 600 in excess of the total
receipts during the same time, and venture
the assertion that there never were before In
time of peace such heavy payments In the
same space of time"