The morning call. [volume] (San Francisco [Calif.]) 1878-1895, 1893-08-13
CARLISLE USES THEM.
Special to THE MORNING CALI.

New YORK, Aug. Il. -Bradstreet's saws.
Owing to the inability of the banking in
situations South to advance money to move
the cotton crop, a crisis in the cotton re-
gions is imminent. 1t would require
S5o,000,000 to move the estimated crop OF
100000 bales. a large part of the crop is
raised by negro tenant farmers who rely
on the owners to advance money fur pick
Ing, ginning, pre- sing and baling This
they are now unable TO do. In view of
this emergency the Secretary of the Treas
ury OF the United States has lust made an
Arrangement by which, on the deposit OF
currency with the SUBJ treasury at New
York. the Government viii telegraph the
Sub-Treasurer at New Orleans to pay
like sum in silver dollars. which will go
lar to relieve the stringency.
The imports of gold for the week are
S13.2l5,9l1. exports S6022.
CHARLESTON. 5. c., Aug. 12.-Inquirv
among bankers ELECTS the Information
that the banks will be abundautly al Bile To
furnish money TO moyr the cotton crop
One quarter Of the S50.000.000 needed is
already in the hands of the farmers and
as soon as crops begin TO move enough
cash will be Forthcoming TO complete the
harvesting.
MOBILE, Ala. Aug. 12.-Local bankers
ridicule Bradstreets report of a probable
crisis in the cotton regions owing TO want
of currency. When the time comes they
say all the necessary funds will be forth
coming
WASHINGTON, Aug. 12.-Speaking of ex-
Secretary Tracy's proposition for the in-
mediate coinage of the silver bullion in the
treasury to relieve the monetary strngency
treasury officials point TO their statement
of August 3. showing it would take five
Years for the minis 10 convert the bullion
into silver dollars, and that certificates
could only be issued on the profits on the
coinage, certificates already being out on
their bullion value.
The Treasury Department yesterday
was offered 652, 600 ounces of silver at 10
10 1915. > small lot was bought at .7515.
The other offer was declined and counter
offer of 1915 was mad. This morn ing the
Director of the Mint received kilograms
accepting his offer. The total purchases
for the day footed up $4,000 ounces-all
that was offered at .7515-making the ag-
gregate purchases for the month so fat
1,506. 900 ounces.
CHICAGO, Aug PA most important
step IN the direction of relieving the finan-
cial stringeney was taken to-day IN Chica-
go by organized labor. An investigation
recently Instituted by the Inter Ocean dis
closed the fact that there was not less
than half million dollars locked up in
the treasures OF the various branches of
organized trades in Chicago. A meeting
was held this afternoon by number of
trades, Nlll discussion of the situation
had, and resolutions were adopted provid-
ing for the withdrawal of money from the
safe deposit companies and the invest
ment of the same in United States bonds
and other safe securities, thus restoring
tho currency TO its proper channels. The
matter will now 20 10 the local unions for
ratification.
A local paper learns that Louis T
Menage. president Of the Northwestern
Guarantee Loan and Investment Com
pany of Minneapolis, which went into the
hands of a receiver in May because of in
ability TO borrow money TO liQnidate over
due paper, is hiding in Chile. This in
formation Is gained from William Merrill,
formerly his assistant, who has just re-
turned from trip. The liabilities of the
concern are S., 10000 and the nominal
assets are claimed TO be 100000.
SHELBYvILLE, H., Aug. pa sensa-
ton was created here this evening by the
arrest of the officers of the failed Thorn
ton Bank on a charge of Enforcement of
the funds. The warrants were sworn out
by depositors.
BROOKLYN. Aug. 1.-THE Commercial
Bank, State institution, failed this morn
ing. notice on the door saying Temporal
rily. The officers decline TO make state
ment The directors say the bank will
pay in full in time. The failure causes no
excitem ent.
The last statement showed resources of
$780, 900; due depositors, SLOTS, 900; sur
plus. sos. 600.
NASHVILLE, Aug. 12.-Ths financial
furry still continues. The Fourth
National Bank is paying off only. with
checks when the amount required is over
500 and the stringency and general dis
trust are beginning to tell upon corpora
tons and firms employing operatives.
The Southern Iron Company was at
tached and made a special assignment this
afternoon. The property conveyed is
valued at 1924. 600 and was given to secure
debts for S145, 600. Two other small fail
ures occurred here to-day.
1ERRE HAUTE. Aug. 1.-THE Prairie
City, private bank, has failed. There is
no statement.
RAILROADS IN TROUBLE.