The morning call., 1893-08-09
Currency in Demand in
Wall Street.
HOARDS BEING DUG UP.
From All Directions Come r1en Who
Want to Sell Money at an
Advance.
Special to THE MORNING CALL

NEW YORK, Aug. S.-The scarcity OF
currency continued to-day and the money
brokers were fully as busy as yesterday
buying and selling currency and gold. AT
z zimmerman & FOrshay's office it was SAID
they were disiOdging good deal Of cur
rem that had been boarded. the premium
of IL to 2 per cent paid for it being great
temptation. Brokers were getting as much
as per cent for il. they said. ACCORDING TO
the amount. in some instances as mucn as
81 per cent being received. They also
contracted to deliver 500, 600 next week to
certain customers, for which they receive
a premium. The firm admitted they had
been requested by the Fourth National
Bank to close their account with that in-
stitution. }. Edward Simmons, president
Of the bank, when questioned. SAID ne
made the request because he did not ike
Zimmermau & Forshay's business methods.
The scenes to-day In the various "1nces
where premium is paid for currency re-
called the bargain counters IL uptown
stores at holiday time. Two places on
Wall street were often crowned to the
doors, and small and large bills poured IN
in profusion. Young men. hardly more
than bows, came down with what they
called "wads" of bills. and took instead
certified clerks for 8 per cent more than
the cash they turned in. In several IN
stances amounts exceeding 100000 IN
bills. which apparently had been In
safe-iepesit vaults, were brought down,
and large sums which seemed to have
been pressed tight in stockings also ap-
peared.
The engagement of gold for the steamers
to-day and Saturday aggregates 81. 100000.
making So. O0O, 600 on the way to this coun-
try.
The MadisOn-square B INK, at 200 Fifth
avenue. will not open its doors tomorrow.
Its capital is impaired to the extent OF
about $4,000 The refusal Of the ST.
Nicholas Bank to continue to act as clear
ing agent preciiiiated the trouble.
The failure of III. L. Hotchkiss & Co.
was announced at the Stock Exchange
this afternoon. The house is an old one.
Hotchkiss has taken an active interest in
Nicaraguan canal matters. The assets
are $3.50. 600; liabilities. $4,000.
MILWAUKEE, Aug. 8.-John johnson, a
capitalist. has assigned. The assignee
gave a bond for 100000. johnson is a
stockh older in the failed Fire and Murine
Insurance Company Bank, and is person
ally liable with the other stOckho lders for
the banks indej1 edness.
indianapolis, Aug. San application
for a receiver for the Indianapolis Cabine,
Works, made this morning on the ground
CT insolvency, was admitted by Its presi-
dent. 1t is alleged it has debts of at least
$685.. 900. The court indicated . willing
ness TO grant the request.
SOUTH BEND. Ind. Aug. S.-A. D.
Baker, proprietor of the South Bend
Wagon Works at Mishawaka. has made
an assignment. The liabilities are
$4,000 and the assets S55,6O0. bis
brother, G. w. Baker, has been appointed
receiver.
PHILADELPHIA. Aug. 8.-The directors
of the Lehigh Valley Railroad COMPANY
to-day voted to discontinue the lease to
the Philadelphia and Reading Railroad.
The Lehigh Valley directors take posses
sion OF the property at once. The officers
Of the company say that the rumOrs OF a
receivership are absurd.
WELLsBURG, w. Va. Aug. S.-The Bank
of Wellsburg closed its doors this morning
because it was unable to realize on securl.
ties. The assets are $500, 900 and the liza
bilities half that amount
WAsECA, Mimi. Aug. 8.-The PEOPLES
Bank clio ed its doors to-day. The assets
are $4,000. liabilities $57. The sus-
pension will not affect the other banks in
the rifv