The morning call., 1893-07-04
BANKING CIRCLES EASY.
New York Beginning to Get Back
Her Treasure.

Tier treasure.
NEW YORK, July 3.-Tha Fourth of
July holiday was evidently begun by
many business men Saturday. for o busi-
ness was transacted downtown to-day,
except such as could not be avoided. But
although there was little doing in the
Stock Exchange and although many bust
ness Offices were closed, the banks were
all very busy.
The situation was reported to be very
easy this morning. The demands from the
country, it is said. were very light, and
many of the large centers, notably Chi
cago, began to pay back the money they
borrowed from New York
The sub-treasury was quite active to-
day. Besides receiving 100000 in gold
for telegraphic transfer to San Francisco,
it paid out S950.000 by midday on small
notes in exchange for gold and green
backs.
The transfer of 100000 to San Fran
cisco is explained as being due to the
action of the savings banks there. They
demanded the required sixty days notice
for depositors, aud then sent on securities
to Eugene Kelly & Co. for sale In order to
be in readiness for demand upon them if
il should be made at the expiration OF the
notice. To-day's transfer is said to be on
account of some securities sold.
The clearinghouse loan committee this
morning authorized an additional issue OF
50. S15,0 600 in certificates. making the to tai
amount now outstanding S21, ,615. 600. From
this increasing issue of certificates it is
believed generally that some months must
aIa hafo al kQ n htai in af
as low as per cent In connection with
the large issue of these certificates
last week, it became generally
known to day that. but for
the prompt action of some of the leading
members of the clearing g-house commit
lee. there would have been a default in
the payment of interest by one we'll kn own
railway company on Saturday. One of the
snrewdest railroad millionaires in the
country was caught in the squeeze for
ready money a. the last moment. Know
ing this condition, and being assured that
unless there was relief for 1t there might
come an actual panic, three of the strong
est members of the clearing g-house, through
the medium Of certificates, provided the
necessary assistance.
The sub-treasury was again creditor
at the clearinghouse to-day. the balance
in its favor being S149, 40 16. 1t was also a
creditor Saturday for the first time since
August II, 1891.
The total payments of interest due July
l on United States bonds mounted TO-DAY
10 Sd. .391, 1893 90. The payment is usually
continued a month or more, but the
stringency in the money market made the
applications unusually prompt
Many bondholders who had not taken uD
the mounts due or coupons for several
payments back have drawn all that was
due them up 10 date. Some payments were
as much as five years behind. One bond
holder presented coupons dated back for
eleven years and quarter.
At the close money was easier at 3 to %,
and offered at 3; bar silver, 70; Mexican
dollars, 90 The silver sales on the Stock
Exchange were $4,000 ounces, closing at
74A bid. 70 asked. Stocks closed firm.
Silver certificates opened at 73A bid. 76
asked, which were the closing prices Sat
urday.
Five hundred thousand ounces OF silver
will be exported tomorrow.
Foreign exchange prices are firmer. The
advance to S4 S21a to 81 SO and $4841a to
S4 S5B made by some bankers is not re-
garded as significant, being made to con-
form to the general market