St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1893-07-14
MONEY GETTING EASY.
CURRENCY FROM THE COUNTRY COLI
NC TO NEW YORK BANKS.
HOOKING FOR GOLD IMPORTS.

No Clearing House Loan CertIfi-
Gates Issued Yesterday--In-
crease in Cash Payments TN
Settlements Between Banks
Western Utterances amusing.
New YORK, July 13.-The same easy
cond. ton was reported by bank officers
this morning as was found yesterday.
Money was fairly abundant, and call
loans were renewed at per cent. Cur
rency was said to be flowing in with
tolerable freedom from the country.
Foreign bankers said this morning that
no importations of gold had been CT
dered; that the figures offered in Lon
don were well enough, but that holders
gave 10 encouragement to wOuld-be
buyers. Still, several houses are watch
ing exchange quotations closely, and
when the. market justifies it. impor-
tations may be looked for. 1t Is only
the difference between the bullion value
of the metal and sovereigns that hinderS
gold impOrtations at present.
c. p. Huntington says:
~ have Just telegraphed to San Fran
cisco, and the regular dividend will De-
declared on the capital stock of the
Central Pacific from the Office of the
company within few hours. The COM
pany has more than earned the divi-
dend, and it will be promptly paid"
Brokers say they expect to see time
money in good supply in about week
or ten days. Settlements at the clear
ing house today between banks were in
the proportion of 371@ per cent cash and
the remainder in loan certificates.
This Is Decided Increase in Cash
payments. The sub-treasurv was a
debtor at the clearing house this morn
ing in the large sum of Sl.l03.331. The
clearing house committee neither issued
nor cancelled any loan certificates today.
Sterling exchange is quiet and steady
today. The supply of bills has fallen
off and the inquiry is light. Gold is
expected by steamers leaving the other
side Saturday, but the amount is not
known. Representative foreign houses
generally look for gold imports LATER in
the year, providing some settlement Is
made of the currency question, and
credits falling due in August are eX-
tended by foreign capitalists. As for
the immediate future, they do not eX-
pect, as a rule, that much gold will
come this way. Silver certificates were
firmer, advancing to 1873 cents on pnr-
chases of $4,000 ounces. Commercial
bar silver rose to II cents, and Mexican
dollars to IS cents.
This afternoon the hopeful feeling
among the bankers became even more
pronounced. Frederick D. Tappen.
president of the Gallatin National bank,
said that one of the most necessary
things was the resumption of the normal
relations between the subtreasury ana
the clearing house. No clearing house
loan certificates were issued today and
none were retired. Mr.. Happen said
that money would be easy right along,
and within a week or ten DAYS there
would be a superabundance Of currency
here, particularly notes of small denanl-
nations. Some of the banks would
probably be asking that their
Clearing House Balances
might be paid in loan certificates rather
than currency, 1t was possible there
might be a few more loan certificates
issued to some small bank, but if the
present conditions continue, the certifi-
Gates will be steadily retired. and by the
end of three months possibly all Will
be cancelled. Some amusement was
caused by the alleged utterance of some
Chicago bank officers, as reported III
the morning papers, rejecting on the
New York banks. a prominent bank
president OF this city expressed the
opinion of many bank presidents on the
subject when he said:
THAT is merely some wind off Lake
Michigan. 1t would be much more to
the purpose if the Chicago banks paid
their debts to the New York banks and
talked afterward. There are very few
banks in Chicago that did not borrow
every dollar they could from the New
York banks during the recent strin-
gency, and they could not have con-
tinued business if we had not supplied
them with currency on these loans"
Another Western utterance that
caused some amusement among bank
officers here was the reference in the
DeuFeI IeSOIuIIOlIo W NEW 1OIh pdllhS.
~ am surprised at those statements"
said a national bank president, ''be-
cause we have extended every possible
accommodation to Colorado banks.
especially to the banks of Denver, and
therefore can hardly believe that the
best people of that city indorse the sen
timents contained in the resolutions"
SILVER ~ s1CHAsE