The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1890-09-15
SATURDAYS C0SFlR.NCE
at New YOrk-Srcretary Window E1pressea
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New IoEK. Sept. l4-Secretary Win.
dom arrived at the Sub.Treasury at
ll:S0 yesterday, and notices were at
once sent out to II number Of bankers to
attend conference and exchsnge views
with him. Among the first to attend
were James B. Colgate, President Knox,
OF the Republic; President Coc OF the
American Exchange Bank; President
Vermilyea, Of the U. S. National Bank;
President Perkins, Of the Importers ard
Traders Bank; President Simmons, OF
the Fourth National President Cannon,
OF the Chase National; President Bank.
er and Vice President of the First
National, Isaac Seligman and others
equally prominent,
The conference Tas in session for
nearly two hours, and at its close Sec.
retary Window stated that he had no.
decided yet what action he would take,
but that he would devote the day TO the
consideration Of the subject, and an.
nonpce his plan in the evening. He
said that suggestion was made to de.
posit the Government funds in the Ma.
tional banks. but that the suggestion
was rejected. He is in favor of extend.
ing the time for paying duties OIL goods
now on hand ut the present tariff until
February !. Hc will take every possible
step to relieve the present strinpcncy,
and believes that he has ample resources
at his disposal to effect this purpose. II
is the general idea that he will decide to
purchase Glarge amount Of Government
'bonde.
The question Of putting the Govern.
ment money oD deposit in the National
banks was brought up at the conference.
Secretary Window reiterated tho posi-
ton OF the Government, aud emphnti-
caliy declared that such a proceeding
was impossible. The proposition was
discussed Of buying s2O,OOO,O0O OF the
four per cent bonds at l25, but i. was
the opinion OF some OF those preaent that
comparatively few bonds would be offer.
ed for redemption at that price, as
holders would demand higher figure.
In regard to the proposition OF the
Government preparing years interest
on the $50. .00O,0 600 currency SKIES, bonds,
Secretary Window stated that Congress
would have to authorize the payment Of
this advance interest.
The proposition which met with unan.
imous approval OF those present, includ.
ing the Secretary Of the Treasury, was
to suspend the payment of customs
duties from November to February |.
Secretary Window said that the pres.
ent difficulty in the money market he
believed 10 be one that extended all over
the country, and was not confined to
Wall street, or even New York. He
said it would require a great deal OF
careiu! consideration to settle upon the
best method Of relieving the stripgeucy,
and for that reason nothing would be
done hastily.
THE ZIG SCARE.
In regard to tile scare which is based
upon the belief that large amount Of
money, according to many, more than
S50,W0.COO, will be required immedi.
ately to pay duties to take goods out OIL
bond in case the Mckinley bill goes into
effect October /. Assistant Treasurer
Roberts says: ut might be suggested
in the first place that this amount IL
overstated, for the custom house authori.
ties have estimated that the amount oil
duty payable on goods now in bond
| does not amount to more than Sl0,000,.
600. In the second place, il these goods
are Withdrawn in large amounts, and
thrown upon the market, it will have a
tendency to check imports, 80 that the
amounts OF revenue received will be
diminished. At any rate, it should not
increase the stringeucy.
~ do not know what the Secretary O!
the Treasury proposes to do. 1t would
be wise, however, in my opinion, fol
Congress TO extend the time within
which the goods now in bond could be
withdrawn, or the conference committee
might decide upon come such course
This would tend to relieve the market
but in any aspect OF the case do moi
thlnk taere Is any serious ground for
alarm
S.V. White went to Washington last
night, and has been in conference with
members Of the Senate Finance and the
House Ways and Means Committees
He says. "Thas there ia no doubl
whatever, that the time for withdraw
ing goods from bond will be extended
The Treasury is doing everything pos
sible for the relief OF the money market,
and will continue to afford all the relie
which may be found necessary"
Shipments Of currency have beer
heavier this week than III any previous
one this season. Nearly all the currency
shipped went Wes: and South. There
has been heavy outward movement O.
gold, $780, going to San Francisco.
STATEMENT OF SECRETARY WINDOW.
4 Secretary Of the Treasury Windon
made the following statement to.niph