New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1890-11-22
BULLS IN HIGH FEATHER
r.vo..nnx REPORTS STIMULATE THE MARKET
ISSUING MORE CLEANING HOUSE
CTRTIFYCATES

CERTIFICATES.
IN. onlv depression in Wall Street yesterday was
among short sellers Of stocks The "ouls' ~eo ~
bah feather and the stock market scored gains
out the list Of about 2sS per cent Aasw .s.,rs
London ware favorable and It was said that the
Of Barring Brothers ~ Co. weuld be transferred % y
,o,nt stock company at the head Of which wouio NC
Thomas Charles Barring, who withdrew MS csP''a' AS
the firm some time ago. Another 1nnuence IN 1a'o
Of . better feeling in Wan Street was tao se"o'"
understanding that Jay Gould had scco"pn'o1 ~
necessary changes in varicus railroad management
which would assure his influence In favor OF msner
values Money on call extremely easy ana many
stocks were borrowed "fatn even COMMANDED
premium. The issue Of Clearing House oeruhoHoo
YESTERDAY amounted to 81 100000 increasing INC ~
sum to 90 4c5,OOO. While tho aggregate OF tne i'u
exceeds the estimates made in the last few Gays oy
.on. ontmistic hank Officers the more liberal taang
ont of certificates was recognized as the result Oh he
action of the associated banks in lessening the cost
Ry disseminating the issue Of detailed pahK st"'o
ment II will be impossible for customers III ''e e"eo'
10 know exactly how each bank STANDS III us roSe'"
This is expected to prevent any lessenhs VI ouse.
~ the hanks with low reserves by transfer OF prokes
accounts TO tho banks which are in notably sS0hs
position nj,
The PHILADELPHIA failure little discussed. Inc
announcement of the formation OF syndlcate Oh Deh
ers to protect the two companies winch were Organize"
through the efforts Of Wharton Barker aayed Ioss'
syndicate is composed OF inc saVheeo'
financial organizations and the local interests OF DreAe
Morgan a. Co. and Brown Brothers q Co. were rep
resented The Newly York banks are without dlrcc'
interest IN the failure so far can be learned
The Bank of Commerce was the first OF tho solvent
hanks to exhibit its Iberaiy TO customers ana its
defiance Of prejudice by taking ont Clearing House
certificates Yesterday the board OF directors OF the
Fourth National Bank took actsn that oughe 70 70
lieve the possible fear Of monetary stnsency In com
mercial circles The following preamble and resou-
tons we're adopted, on motion OF Charles 5 smith,
president of the Chamber Of Commerce. with Cornelius
n. Bliss tho seconder:
Whereas 1t is Of the utmost importance that the man.
eia stringeney which has prevailed among the bankers
ana brokers Of London and NewYork should not DO al
,oed serousy TO affect the mercantile community OF this
country. and a.,
Whereas The Fourth National Bank hss had during the
month November S. 900 Of paper
fan due all Of been promptly met ct maturity
thereby showing the merchants TO be in prosperous con-
dition, and
Where's The strngency In the money market has SUD
stantay stopped the purchase Of commercial oiis aho
thereby deprived the mercantile community Of Its aecus
toned facilities. therefore be 1t
buv freely Of hrstass commercial and they are
hereby take cut necessary, liberal amount
Of Clearing House certificates for that PURPOSE