The morning call. [volume] (San Francisco [Calif.]) 1878-1895, 1890-12-09
MONEY AND BUSINESS.
Efforts Of the Treasury Department to Re-
lieVe The Present Strinsency.

Inc treasury Department is doing all it can
to relieve the present strngency, and will
continue on the same line of policy followed
up to this time. The stringency, he says, j.
not the result of the contraction of the cur
rency, and there has never been time in the
Governments history. IN an era of peace,
when so much money was flowing cut of the
treasury into the country. The treasury
has put out over S100, coo, GOO within the. last
nineteen months, with no apprecable effect,
and he thinks the money is hoarded. The
S100G00,000 in gold, held as legal tender
reserve, will never be disturbed with his
consent. lie might possibly call on the
S24, COO deposited in the national banks,
but he does not think this would be very
popular proposition at the present time. In
conclusion lie says that whatever he may do
toward allaying the uneasiness in monetary
circles he does not propose to let the treas
ury become bankrupt.
GOOD RESULTS.
Wall streets opinion Of Secretary Win
dom's circular calling for proposals for the
sale Of S5,OC0,OC0 of tour-per-eent bonds, as
expressed this morning, is favorable, as af-
fording some rel ef itself to the monetary
stringency, but still more so from Win
dom's statement to the New York Sun cor
respondent published this morning. Wall
street regards ths as an intimati0n of fu-
ture early action in this direction on the
part OF the Secretary of the Treasury. The
Improvement In the opening prices this
morning VAS attributed as much to this an
tlclpated action as TO the circular calling Ia
tie four-per-cents
Kiernan's Agency has a Washington
Special which says: Window says it is not
his desire To buy silver cheaply Or run down
prices; on the contrary. he would wish that
silver was much higher than it is, but the
law has TO be obeyed.
COLORADO SHELTERS.
A Herald's Denver (Colo.) special SAYS:
Colorado Is in an unsettled condition. The
silver market Is causing serious trouble
among the Colorado smelters and mines
producing lOw-grade ores and unless some
thing is speedily done by Congress hun
dreds OF low-grade mines i'll the State will
be compelld TO close down. When the
price OF silver went up under the present
Silver Bill low-grade producers sent thou
sands of tons OF ore TO the smelters, which
was purchased at an advanced price. The
smeittrs are now loaded down with low
grade ore, which cannot proftably be treated
at the present price of silver. They figure
their loss since the decline at 10 cents per
ounce on $4,000, COO worth of mineral Hun
dreds OF mines in the West ale expecting to
shut down.
A Commercial Bulletin Washington spe-
oial says: Some OF the Republican Sena-
tois do not believe it would be possible to
maintain the differences for silver in New
\ ork and those in London. This difficulty
is admitted to be serious. But the Treas
ury people believe the price in London
would rlse when 1t became evident that the
prlce here had risen permanently. The ac-
ton Of China in beginning silver coinage is
taken as an encouraging sign, and it Is
hoped Austria and other European coun-
tries Will increase their consumption of sill
yer Tor monetary purposes when they dis
cover the United States is bent upon using
it and that the price has risen. Arguments
ike these depend upon the favorable con-
sderatl0n CT good many circumstances :;
but the President and the opponents of
free coinage in the Administration are dis
posed 10 at least give trial to some such
pian as proposed In the joint resolution in
troduced by Congressman Taylor Wednes-
day regarding additional purchases Of silver.
EMBARRASSED FIRMS.
Roberts, Cushman d Co., importers of hat
ters' materials, have made an assignment
Roberts this afternoon said the failure was
not caused by the tariff, but it was the work
OF several firms, who dragged them down.
He could not give the figures, beyond the
general statement that the failure was in the
neighborEo0d of S5000C0. He was sure all
the creditors would be paid in full.
Their capital was from S750.000 to 81 .O00,-
000 and their credit good. A member of the
firm said tonight the failure was due to the
fact that the Philadelphia firm of Price,
Sherman & Co. was under heavy financial
obligations to them. 1t is asserted that the
house had been virtually carrying the Phil
HueIpIlid cOECtIu untli IL was impUSslDio TO
do SO longer. Hence the susI ens!op. 1t is
also asserted that Roberts, Cushnan & Co.
hope TO meet all their claims, even though
the individual property of the members of
the frln be used to meet the Indebtedness.
ID. M. Silver man d Co., hats. caps and
before-once in 1876 and again in 1879 The
Liabilities each time were compromised at
about SO cents on the dollar. The state-
ment last March claimed assets at S174.000
and Liabilities OF S126,000. 1t is said the
lrm bought considerably from Roberts,
Cushman & Co. The tight money market
caused the failure.
PHILADELPHIA, Dec. S-The hat-manu-
featuring firm of Price, Sherman 81 Co. as
81 signed sI,s ! today Their assignment was pre-
eclpltated by the failure of Frederick 5.
Sherman, retail dealer in hats and furs.
Price. Sherman d Co. were rated from
100000 to S3OO.000 and their general credit
was high.
:. MEADvILLE Pa.), Dec. s.-Reports con-
tlnue to come in of new sufferers in the col
lapse OF Delamater & Co. S Bank. A banker
OF the city said cautious estimate of the
iiaDiilties would not be less than $500,000
1t may reach $S0U,O00 Nothing positive is
known about the assets, but the most SAN
gulne 40 not hope for more than 30 cents On
excited.
The assignee of Delamater & Co. made
statement this aitern Don, showing the assets
to be $473,OO0 and the liabilities S545, 600.
HOW much the assets may shrink cannot be
t.oid' ana now many outside obligations the
Irm may have, not shown by the books, is
not KNOWN. All the members Of the firm
nave surrendered all their personal property.
:, EVANSVILLE (lnd), Dec. S.-Thomas
ocantlin Son, leading foundrymen. failed
to-day. The liabilities are Slo0,CO with
assets in excess Of this amount.
BiRMINGHAM Comm, Dec. S.-Postal
caro- contractor Al. Daggett was to-day de-
clarea bankrupt on a petition of his
creditors. The amount Of claims are un-
known. His debts in this State will prob.
ably exceed $4,000.
GOLD FROM LONDON.
LONDON, Dec SIT is stated that a1 ,O00,-
GOO in gold will be shipped from London to
New York this week for the assistance OF
banks there. 1t is doubtful if any assist