St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1893-06-17
Action Of the Gotham Clear
ing House Had a Bene-
fetal Effect.
Slight Falling Off in the Cur
/ rency Sbipms nts From
New York.
The Demand for Bills Has In
9 creased the Treasury's
Free Gold.
A Great Many Silver Certifi :
Gates Have Been Sent
West.

NEW YORK, June 16. The clearing
house loan committee met this morning,
but did not issue any certificates. After
the meeting members of the committee
declined to give any information to re-
porterS as to whether any applications
had been received for loan certificates
Or whether any certificates could be
Issued today, because there had not
been time for the directors of any bank
which might desire to.take some to meet
ana authorize the necessary applica-
ton to be made therefor. 1t
is not known yet whether
any bank desires to take out
some certificates. The loan committee.
however, will meet again tomorrow. If
any certificates are issued this week,
that is tomorrow. the usual weekly bank
statement will not be published. but
only the totals for all the banks. 1t is
thought that the committee may decline
to state the amount of certificates issued
each DAY and content themselves with
giving the total amoLnt weekly with
the other totals OF the bank statement.
The action of the clearing house asso-
citation in deciding to issue loan certifi-
Gates was warmly commended on every
hand today, and i, was conceded that
the announcement OF their resolutions
had had very beneficial effect.
There was slight falling off In the
shipments of currency today; it was
estimated that the amount would fall
good deal short of sl,o0O,O0O. The de-
mand for currency has had the effect of
increasing the amount of
Free Gold I'm the Treasury,
and the amount of such gold last night
exceeded $92, 200, 900. which is a gain of
more than 50, 600, 600 over last week. OF
this sum S1.500.000 came from the Ma
tional City bank, which has been one of
the largest shippers of currency to the
West. The National City bank has
kept all its reserve in gold, and was
thus enabled to comply readily with the
demands of its country correspondents,
fact upon which it prides itself.
But for the fact that the treasury has
had to pay out large sums for pensions
it would have shown large gain in
legal tenders, a large amount of which
were received from the banks for cur
rency. Thus far the SUbtreaSury has
been enabled to meet pretty nearly all
the demands for currency, but there is
scarcity of Is, % and 5S, and it insisted
on gold or legal tenders for these. For
notes Of other denominations 1t accepted
treasury certificates as we'll as legal
tenders. One fact the banks and the
subtreasury feel some consolation in
connection with The shipment of cur
rency, and that is that a great
many silver certificates have been sent
to the West. land that is the proper
place for Them" said one bank officer.
The Sun says: THE associated banks
came within an ace yesterday of pass
ing resolution reco mmending that the
New York banks pass resolution re-
Questing President Cleveland to call
congress together Immediately to tackle
the financial situation. The resolution
had been prepared and was discussed
at length. Some of the bank presidents
favored that means of calling President
Gleveland's attention to the financial
situation, but others thought it posi-
sible that the resolution might be mis-
construed. The opposition finally won
and the resolution was finally tabled,
but it was by a very narrow margin"