Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1893-07-06
TALKING ABOUT MONEY
Unrest Was the Chief Feature No
tiCeable in New York.
CHAMBER OF COMMERCE TO MEET
And Take Action Expressing It's
View of the Present Financial
Situation-The Scarcity Of Cur
rency Commented Upon as Be-
ing Artihcial-No Currency Or
dered by Telegraph Yesterday.

dered by Telegraph Yesterday.
New YORK, July 5.-Much interest is
being manifested In the special meeting
i OF the Chamber Of Commerce called for
tomorrow. The purpose of the meeting
Is to consider the present disturbed con-
ditiOn OF the finances of the country and
10 pass resolutions expressing the views
bf the Chamber regarding the present
state OF things, and advising the course
|of action which the Chamber should con-
slider most timely and efficient for reme-
dying existing evils.
Those me,nbers who are most actively
! urging the chamber 10 take strong
stand were busy to-day bringing to-
gether men who represent interests in
various parts of the nation.
blow New York feels and thinks is
pretty well known" said meRber to-
day. THAI will be emphasized, hope;
but we wish also 70 hear sectional views,
II there be any such, that the chambers
decision may have weight outside OF the
State and as far as its members have
influence"
The chief features In the monetary
situation to. day, according 70 several'Of
the leading bank presidents, were un-
rest, a lack Of confidence aud a scarcity
OF currency. The latter is, apparently,
becoming q very serious matter, and
some banks are pretty hard pushed TO
secure enough to meet the demads
made upon them. Late on Monday
afternoon orders were received by
telegraph for large amounts of currency
from Boston, Baltimore, Philadelphia
aud Pttsburg. A dispatch from Phila-
delphia to-day reported tho refusal Of
bank in that city TO pay a check on it
for $50, 600 in cash. The holder Of The
check, il was said, would insist on the
check being paid in cash to-day. The
bank can pay IL ali in silver dollars if il
careO TO do so.
One Of the most influential members
of the Clearing House said this after
noon: "It is all nonsense this talk about
an actual scarcity OF currency, but il
everybody keeps on talking about 10
there will soon be one. The banks have
got plenty OF cash, out the trouble Is
they are attempting % hoard their god.
They have got a hundred million dollars
in gold aud currency. The proper thing
for them TO do would be for them 90
gtake some Of their gold TO the sub
treasury and get currency for it II they
are in need Of currency"
Several bank officers called at the
sub-treasury this afternoon, and asked
what they could get in the way OF cur
rency II they needed any. They did
not mention any amounts, so that the
Treasury Officialss were this after
noon unable 30 form any opinion
what the probable demand would be for
currency before the close Of business
The Assistant Treasurer, however, In
formed the bank officers that the sub
treasury would continue to do as it had
done; give the banks all the currency
they needed, small notes in exchange
for greenbacks, gold certificates and
gold coin. aud for notes OF the denOmi-
nations of 81 and upwards large treas
ury notes would be received.
The orders for currency by mail this
morning were reported as light, but II
was said that In view OF Mondays ex-
perieoce it could not be estimated how
much would be shipped until the hour
had passed for the receipt OF telsgraphlc
orders. BY Saturday il was hoped
much OF the currency that had been
drawn by savings banks in this and else
where for payment of interest and diYi-
dends would begin 70 flow back into the
banks OF this citv.
AT the sub-Treasury to-day it was
said there had been no telegraphlc
transfer OF money to any point to-day,
and but $500, 900 In small notes hau
been exchanged for large ones up 70
that hour. The scarcity OF currency
in the banks, IL was said, was known,
and everything had been done oy
the Treasury officials that was Iossl-
bic TO relieve that strain. During the
last week no less than $4,000, 600 IN cur
rency mad been paid out by the SUD
Treasury in this city In exchange lor
large notes, green backs, gold certificates
gold coin and legal tender oertihcates'
The banks having checks on the SuO-
treasury had presented them direct IN
stead OF through the clearing mousse
and had received tho cash for then'
The sub-treaSury IN this city mas AT
present only SIS, 600, 600 Of currency In
haLd, but 1t can draw for two or three
millions more from Washington II occa-
sion requires.
The clearing house loan committee
issued $500, 900 more certificates to-uay'
thus making the total amount no" Is
sued S2s, 49, 600. ,
Three hundred and thirty thousand
ounces Of silver will go out on one
steamer tomorrow.