New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1893-09-09
RENEWED BOOM IN STOCKS.
THE BANKS LIKELY TO SHOW A SURPLUS
IN RESERVE
MORE CLEARING HOUSE CERTIFICATES RE
TIRED-CONFLICTING ADVICEs on
TIE SILVER BILL.

TIRED-CONFLICTING ADVICEs on
THE SILVER BILL.
Bankers a. confident that the weekly bank state
ment to-day will show aggregate average sur
Mus I'm reserve for The first week since June 10 the
last statement which published IN detail \
large gain in cash Is expect 81 to "' snowh' anu
some estimate reach as high as N'Vo"r Mo't
conservative figuring puts the increase in lesaI
money at 100000 or s5.OO).O0'. which will wipe out
the deficit I'm reserve recorded last week ana furSh
a surplus over legal requirements Of from $,Wo""
TO S35Oo0oO. Tho banks are expected TO make III"
gain on the increased cash holdings because II Is
extremely doubtful that there has been any addl-
ton to the deposits. The Clearing House Loan
Committee yesterday cancelled $4,000 loan GER
ti1cates reducing the total amount outstanding to
$50 10000 The total retirements for the week
amounted to 8, 100000 but as $4,000 certlhca'eS
were issued the net cancellations were E65cU
There was no premium on currency yesterday
not even on special transactions such as TOOK place
on Thursday. The proportion of cash used IN the
settlement of ba lances at the Clearing House "hch
on Thursday was 2, per cent was "a per cent yes
terday. II the financial situation continues TO I'M
prove It is thought that next week Will witness
the cancellation of a large amount of Clearing
House certificates. The inquiry for funds ana
credits with which 10 move the cotton crop now
ever Is on the increase A in position 10
be acquainted with the movement SAID yesteru"S
that within a few days the Withdrawals oil ue
posts from the savings banks of this city ma"
shown an important increase. No reason for this
increase Is known. Bankers are becoming soiie-
what impatient at the delay over the SILVER re-
neal bill in the United States Senate ana theie
were disquieting suggestions from washington
yesterday TO the effect that unconditional rep'ai
would not be obtained. Any compromise OH t"e S''
yer question is dreaded but some well-imormeu
bankers are fearful that the delay VIII increase 'e
chances Of an accident TO the Repeai Dill, wa"
Street was more treasured late in the day by
advices from Congress that the anti-sVer auNo-
Gates would submit TO no compromise.
The stock market was disigured early yesterday
nv a sharp break in Chicago Gas owing to the
announcement OF the large new bond issue OF one
Of the principal constituent companies oil 'he 'fus'
But the recovery was radical and extended TO the
entire market which closed confident AT material
net gains Chicago Gas opened = per cent
lower at - and fell 10 5Gis, but when the selling
pressure was resumed the price ran up to $50
CO.. General Electric declined per cent to a. but
later rose 10 47l4g46A The bulls in American
Sugar Refining renewed their aggression and carried
the price up 81 per cent to od TainnaI Lead
advanced about per cent. The shorts were pdul3f
punished in the railway hst TOO rnere r Man.
haitian. in New-YOrk and New -Eneland' Is III
Paul and P s6 S9n1 or GTSn % Snd
Missouri Pacific. Erie and Philadelphi anu i.eaa
ing. Western Union Telegraph gained per Ceh,.
The bond market also was strong AT important ""-
Vances. -, , , he,
TX. ..
ness say that the Improvement has extended from
the banks TO the mills. The condition OF great IN
dustries has distinctly mended though SUI serl-
ously depressed. More important by far than any
rise in stocks is the fact that more works nave
resumed during the last week than have stopped
operation so that the producing force of the coun-
try after months of constant decline has begun 10
Increase. Dispatches mention twenty-eight textile
and thirty metal works which have resumed. some
only with part force. while twenty-five textile ana
nine iron works have stopped. II Is expected that
most Of the Fall River mills will start soon the
hands asserting TO reduced wages.
incomplete returns of assets and Liabilities Tor
The month Of August show that the llaDihtles IN
about $50 failures amounted TO SI14ibVSV ana tn1
returns for the remaining failures of the month VII
prohab v raise the amount above >p.V0W0 inc
assets reported were 81 s2s2l0 and while -, OF the
failures with SIS 742 029 liabilities were at the VEST
there were 64s with 81 236 997 liabilities In Eastern
states and 800 with $5,46 0O4 liabilities in southern
States This body of defaulted liabilities Tor me
single month of August exceeds the aggregate LOT
any entire quarter except i've during 'he iaS' Ola
'e 'r ;,,ras for the week have been only 3S IN
,,unher against SS last week, ana 45o LOT wv, VI.
,reek preceding and twenty-five In Canaua asMISl
,h,r,vthree for the same week last year. Nhlic
one large mortgage company swes the ass res sh
fail,res was lower than usual. 2b2 being TOT 90
ihan s. 90 each, and only four Tor over >lVV'V"V
e""s,los ~ wool have been the lowest on RECORD
,o- vcars IN 900 pounds at the prlnclpdi mar
in,s FOR the latest week. against .,oI,Sp LOT tle
came week last year. the average OF lV4 ersurS IL
a. ~ rsnts the lowest for many years. and IN the
~ il can hardly be said that recovery
appears.