The Indianapolis journal., 1893-07-13
CURRENCY MORE PLENTIFUL
Money Flowing Into New York Banks
from Their Country Correspondents.
Decided improvement in the Financial Situa-
tion-Silver Shipped to Europe Yester-
days Bank and Trade Failures.


conditions unanimously agreed that the
general situation has improved. and con-
tinues TO do 90. There was nothing In the
financial situation of the country TO pro-
duce such an unsettling. At several of the
larger banks it was esid, to-day. that con-
siderable amounts of currency had been re-
ceixed yesterday and again this morning.
One large Broadway bank yesterday re-
ceived $500. 600 in currency and gold from
the country. Some of the gold was re-
ceived back from California. The Fourth
National Bank received S34l. 900 in cur.
rency, yesterday, from country correspond
ents. and to-day it's receipts of cur
renoy by the first express delivery amount
cd to S1s5. .0OO with lot more in sight
As an indication of the easier condition
prevailing, it was reported to-day that
many country banks were remittng cur
rency here and getting back some of their
bills receivable, which they had redls-
counted here three or four weeks ago. tax
ing advantages, of course. of the rebate In
the discount for the unexpired time. At
all the large banks to-day It was said that
the demands of out-of-town customers Tor
accom- IN alton were lighter than they had
been for weeks. Tho down town banks
still report q scarcity of currency, but 1t is
than equal to The demand. All the signs
to-day, lt was sold. pointed that way.
Many of the large uptown ban ks reported
to-day that they had ali the currency they
wanted and the president of one we'll
known institution said that he had
currency last night in return Tor clearing
house certificates. The offer Of some banks
to pay the express charges on currency
from the country has had very stimnlst-
flea n INN n ia
said thsJ one large downtown bank adopt
ed this plan some days in advance of the
other banks and filled It's vaults before
they learned of the circular 1t sent out of
ferIng to pay tha express charges. 1t made
good use. however. OF it's stock of currency
by helping out the clearing house In the
payment of balances due To the subtreas-
ury during the last week. The subtreasury
vas debtor for several hundred thousand
dollars to the clearing house this morning
for the first time IN q week. which showed
that the steps taken by the subtreasury
officials to compel the bankers 30 present
their government checks for payment
through the clearing house, instead of over
the treasury counter for the cash, had the
dn sired effect
Iwo or three cases were reported to-day
of country banks, mostly In Pepnsylvania,
coming into this market as buyers of coO-
Kercial paper In small wav, tempted
thereto by tho high rates and the fact shat
they had the money 10 their credit with
their New York agents. The amount of
such purchases in the aggregate Is not
large, bnt it Is believed To indicate an
easier monetary condition in certain sec
tions of the country.
Tne North German Lloyd steamer Trave,
Captain Sander. from Bremen. which sailed
at O'Clock this afternoon for New
York, has on board gold to the amount of
1856. .0Oo. j. and w. Seligrnan u Co.. will
ship LOG. 600 ounces of silver, and HOskler.
Wood Il Co. $4,000 ounces on the steam
ship Augusta Victoria sailing for Europe
tomorrow. Velsags, Colgate * Co. sent
out sc. 900 ounces on the Majestic to-day.
Regarding the SILVER question In the
West the president OF o prominent down
town bank received the following letter
to-day from the head of q leading mercsn-
tile house In Denver. Col. which has deal
ings throughout the silver States: I'm re-
gard to silver mining in this State will
saw that we candidly believe the present
Stuation has been very much exaggerated.
for obtaining definite, price for silver ..
great many of our mines Will be operated
on AS large u scale as formerly. This We
say on the suppositiOn that the present
price of silver. say 20 cents per
ounce is reasonable price, as silver
costs very nearly this fignre to produce.
If the prioe OF silver should decline ma-
terlally below IS cents per ounce there will
undoubtedly be u curtailment of the pro-
dnction In this State, but we believe that,
thoir accounts in full. The talk and threats
iDdulged In by few abid silverites ID. in
our opinion. taken too seriously In the East
as the parties who do most of thls talking
have no credit or standing at home and
we do not see any reason why they should
be believed abroad. As already stated. We
believe that when the skies clear u little
the loss and damage will be found To be
very much less than the calamity howlers
would lead one to expect"
OF the mAuy fa,IQreH And financial coll
lspses during the last three mont hs not u
single failure of dry-IOods house has
been reported throughout the coun-
try. and there has not been
year. Of course the trade has suffered
moreor less by the tiGhtness of the money
market. aud the present dull season 10
made even dul,er than usual by reason of
the financial strlDgency. A reporter
who interviewed many of the repes-
sentative drv-goods firms. wholesalers. job
bers and oommissio men In this city
to-day, WAS told every where that Us far as
this trade was concerned any thing but q
panicky feeling prevailed. TO be sure there
was an excess of caution on the part of
both buyers and sellers; but on the whole q
consensus of the interview shows that this
branch OF the trade is not much cast down.,
trouble as followed the fin an cial conditions
existing In 1879. The best sign of all is
the report which all the jObbers made that
the COLLECTIONS have been good and fail
ur es infrequent
Business Troubles.
TRENTON, n. j., July 12-John Garrick
was to-day appointed receiver for the New
Jersey Sheep and Wool Company. Ex.
Congressman j. w. Pidcock was large
stockholder. The court also issued an or.
der restraining Mr.. Pidcock from disposing
of ohattei mortgage of $4,000 which he
holds against the Sheep and Wool Com.
pany.
GARNET. Kan. July 12.-The Bank of
Garnet. one of the Leading institutions of
Anderson county. closed its doors this
morning, catching some Of the depOsitors
rather heavily and the county treasurer for
$4,000 of the county's funds. It Is thought
the bank Will be able to pay out.
SPRINGFIELD. Mo. July 12-The Bank
OF Commerce has failed. The last state
ment showed $3.50 000 10 Resources o sur
plus of about $4,000 and $4,000 In depos-
its. j. j. Gray. extensive dry-goods
dealer. has failed for $4,000.
NEW YORK. July 12.--The sheriff has re.
ceived an execution Tor 81. .0Ge against Ed
gar Nj. and Amos q. WoOley. DONG bu siness
as Richard Wooley ~ Son. ct Cincinnati
In favor of Emma WOoley. for money
loaned.
CHICAGO. July 12.-Cbarles nj. Barnes.
stationer and bookseller. assigned to-day
Assets. S1T1, COO; liabilities. SilSOOO. Con-
fessiOn OF Judgment entered last night
IN the Superior Court caused the suspen-
sion.
GLENwooD SPRIN Gs. Col, July 12.-The
Bank of Newcastle, private bank. did not
open it's doors this morning. but ass gned To