Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1893-04-22

,w YoRK. April 21.-The upper crust
be- hundred million gold reserve has
removed, the financial world has stood
and witnessed the doing Of 10, and yet
night in this financial center no quak-
,c-s Of the earth are felt and folks who are
host interested are wondering why there
as been no crash Of worlds nor wreck OF
bheres. Indeed, some 1nanclers are look
VI each into the others face ana elaculat-
as whether they have been fanatic, or
ncannily superstitiOus.
)The engagements Of gold for export on
teamers sailing tomorrow and on Tues
az show a total of s., l75,OOl
Then came Boston with word that
idder. Peabody and Company had en-
yed there for direct shipment 20 Barring
hos, in London $3.50 900 more OF gold.
There is the physical situation.
So much dumb, yet richly chnky metal,
bout 10 be transferred In wooden
ckets from here 70 there, and yet the
ducuOns from fact are as many, ana
wise as the people who became eX'
sd overit to-day aud who disc uss II
re calmly tonight
There was much diversity OF opinion In
Ia financial community during the day
Yer Secretary Carlsle's statement In
ne main, the Judgment was unfavoraole.
n the steck market the accommodating
+bul rumorsn from Washington diverted
hscticallv all attention from the Secre-
US circulars, but the sterling
kchange market, rejecting that
ory unusual occurrence scare
mOng the regular remitters against
Foreign credits. The demand Tor sterllng
bills. this time proceeding from bankers
doubtful about the gold payment for treas
ury notes, and anxious TO anticipate their
payments, was so heavy as 70 force up
sterling rates 10 the highest figure touched
since the panic Of 1884. Over six millions
in gold was thus engaged for export by to-
morrow's steamer, with the orders unusu-
ally widely distributed.
10 the face Of the exceptional demand Tor
bills. one or more conservative foreign
4 banks drew exchange ia large amounts
selling at the market and announcing their
intention not 70 cover their bills by gold
, shlpments. Borrowers on call to day were
aele to secure accommodations early in the
day At 5 TO 8 per cent, but those who de-
~ iayed supplying their wants were forced
70 nav 10 10 u per cent. The situation i'm
proved late In the day. The sterling eX-
change market eased up. Money was IN
better supply near the close and lent as
low as 4per cent ,,
As the day advanced the belief obtained
that inasmucb as the heavy Withdrawals
of gold from the Treasury would finally
encroacA upon the hundred million reserve
there would be less apprehension IN regard
70 future movements Of the yellow metal
The sentiment is best indicated by the
sharp recovery in values which followed
adyices from Washington which, however,
were subsequently denied, that Secretary
Carlisle had issued an order 20 the New
York offlce 70 continue payment OF gOid TOT
Treasury notes indefinitely.
No word was received at the Sub-TreaS-
ury here to-day from Secretary Carlisle
relative to the gold situation. Acting Sub
Treasurer Muhleman notified the Secre-
tary Of the Treasury Of every application
for gold as soon as made, but receiving no
answer in any case be proceeded 70 pay out
the gold. About twenty 1--WE per ceLt was
paid out upon treasury notes. According
~ Mr.. Muhleman's figures, the net loss or
gold 70 the treasury to-day was S4,bOOOOO,
of which all but 10000 was for export.
Secretary Carlisle this morning eStima-
ted that he had SSS5,0C free gold IN the
treasury. II he has received none to-day
from sources outside Of New York the
treasury free gold is all gone, and the hun
dred million reserve reduced 70 f96, ,2SS,OOO.
This is the first time since the resump-
ton OF specie payment that the hundred
million reserve has been cut into, counting
In the subsidiary coin as q part OF the
available funds in the treasury. Differ
ence Of opinion exists as TO Wnetner the
subsidiary coin should oo thus counted. II
not then the reserve has been encrOached
upon seven times previous TO now as FOL
lows:
July I, 1SS2. reduced 20 S90S7l, ,29l; Au-
gust 2 1852, reduced 70 f92. .052, 2S6; Decem-
Der 1. 1SS2, S9S, ,O4l, AS; January 2. 1888.
S.. .oGQ sos; February !, 1SSS, S4,215, y+4;
MAY, 1883, t98, ,6S4 146; June l. 1855, S99, ,5SO,-
e49 The subsidiary coin was not counted
in the above
The stringency Of gold has made itself
evident lately in the customs receipts,
which used al 70 be paid in gold or late
scarcely any gold has been received by the
treasury from this source.
Late in the day, just before the sub
Atreasury closed, IL was reported that ON
icials had been notified OF demand which
will be made tomorrow for fi,OO0OOO gold
for shipment on TuesGey, and there was
n additional report not verified that 81
OO, 900 gold would be taken on Monday.
Naturally, as iu times Of excitement
he street was flooded to-day with all
banner Of stories. One was 70 the eneet
fhat the President dissatisfied with
Secretary Carslisle's conduct Of the
reasury department, had demanded his
resignation and another that the Presi-
bent had issued an order 70 the various
assistant treasurers to pay al treasury
notes in gold as fast as presented.
These reports are given merely % indi-
cate the sort Of information that is food
ing the street at this time. One of the
latest rumOrs was that Conrad y. Jordan,
the newly appointed Assistant Treasurer
az New York, was TO hold a conference
with the New York bank eresidents to-
night, but this was without We 86cation.
President George ). COe, OF The Ameri-
can Exchange National Bank, said be
thought that all this talk about he gold in
the West was rather absurd, and thought
Il was very Objectionable 70 have any RI
valry established between different sec
tiOns Of the country by making an artificial
money center some place else than IN New
York He did not see where the sanctity
Of the sl00. .OO0. .0O9 gold reserve came in.
For the country 70 leave all that available
money in the treasury and fail back on any
artificial means, such as the issue Of bonds, !
in the present crisis would be like q man
going into bankruptcy with plenty Of
assets.
Secretary Carlisle's Stsesmens
NJ Nropr- An~if Qf F.,to,.~- rtov