St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1893-07-22
BANKERS OF NEW YORK
REGARD THE FINANCIAL SITUATION As
SLiGH. LY IMPROVED.
CERTIFICATES TO BE RETIRED.

Keen Eyes Looking Towards St.
Louis, Cincinnati and New
England = Senator Coke, OF
Texas, Wants Free Silver and
Tariff Reform.
NEW YORK, July 21.-Bank presi-
dents reported today that the situation
was fairly easy, with some shipments of
currency to st. Louis, Denver aud Kan
Sas City. The subtreaSury was debtor
at the clearing house today 81, 800, 900,
and it paid in sl,375,OOO of that in gold,
all III double eagles. In addition to that
some of the debtor banks paid their bal
ances in gold, so that more than 81, 700,
600 had to be distributed by the clearing
house among the creditor banks.
There is considerable dissatisfaction
among tile banks at the subtreasury in
this matter. One prominent bank pres
ldent. speaking the views of several of
them, this morning said: II do not
know what is the object of this obstruct-
i've policy of the treasury officials, but
whatever it is, it is an exceedingly in
convenient one for the banks. Why the
treasury in conducting its business
with the banks should make it as incon-
Venlent as possible for the banks is to
me incOmprehenSible. If the govern
ment must pay out gold to the banks,
why can't they pay out fve-dollar
pieces and twO-and-a-half pieces, of
which they have plenty, instead of
double eagles. which we can't use. The
gold pnin 0f thn FiDv
we could use In making up cash for pay
rolls, but we cannot use the twenty
dollar gold pieces for that purpose, and
they are, therefore, practically not
available for everyday ordinary use. l
do not know what action the banks will
take in this matter, but | think they
VIII probably present very strong pro-
test to the secretary of the treasury
against continuance OF the practice
complained of. We do not know
whether Assistant Treasurer Jordan is
simply obeying the instructions of his
superior officer (the United States treas
urer) in this matter or is carrying out
policy of his own, but whichever it is, it
is exceedingly ill-judged.'
The large balance due the clearing
house today by the subtreasury was
mainly caused by the payment for gold
delivered 10 the assay office yesterday.
The payments for pensions, too, at this
time of the year, are always unusually
heavy.
The clearing house loan committee
met today but did not issue any more
loan certificates. They arranged, how
ever, for the retirement tomorrow or
Monday of S15O.OOO of the certificates.
Inc total amount of certificates now out
standing is S22, 1901
Speaking of the general financial stu
tation this afternoon, Frederick ID. Tap
pen. president of the Galatin National
Dank, said that he thought that there
was decided Improvement; money was
easy and there was more confident
feeling everywhere. With reference to
tomorrow'S bank statement, Mr.. Tappen
said he thought it would show a large
decrease in loans and an increase in the
deposits with consequent increase in
the reserve. The amount of cash in the
banks would be less than last week.
"a tour of the banks and principal
brokers' offices on Wall street TODAY
showed that the bankers are waiting
and watching the financial develop
ments all over the country. Special at
tention is being paid to st. Louis. Gin
einnati and New England. The West
ern National bank shipped S25. 600 to
Chicago, and it is SAID that the Fourth
National sent about 100000 to ST.
Louis, Cincinnati and Chicago; the
Chemical bank almost as large an
amount TO interior points, and there are
rumors. unconfrmed at the present
writing, of other currency shipments.