Audubon County Republican. [volume] (Audubon, Audubon Co., Iowa) 1885-1894, 1893-07-27

New YORK, July %. The shipment
of currency by the banks to the in
terror yesterday amounted To 81, 50r,-
600, or this sum 100000 was OBJ
tanned at the sub.treasury in exchange
for large bids. Most Of the money
went TO Cincinnati and Indianapolis
Some money went To Chicago and 81.
Louis, The banks reported the con.
dition ms fairly easy and To some ex-
tent better, inasmuch as the demands
for accommodation were limited The
most notable demands for assistance
yesterday were from Ohio. The orders
for currency were light The sub
treasury was debtor ut the clearing
house yesterday morning only Slis,-
600, and that sum was paid in notes
instead of gold.
The iudicalio were thata consid.
cradle amount OF currency was being
received from some section of tho
country by the banks in this city, but
this was being Offset by shipping To
other places. From tho demanGs re-
ceiyed yesterday from OHIO and some
other places for rcdiscount IL was be-
lieyed that the shipments OF currency
TO those sections this week will be
heavy,
Speaking Of the great number OF
western banks which closed on Satui~
dar, the president of one of the largest
national banks in this city said that
he believed that in majority of
cases they We're not failures, but only
suspensions; that they were perfectly
solvent, and that they would resume
business again in a few days stronger
than ever
The situation in New England Ia
creating great deal of attention in
this city now, especially in regard 10
the manufactures Al the Office Of
Watson e Gibson 50 Broadway, Vt was
said that their ndvices from Boston
were 10 tho effect that money
was practically unlendable in that
city at per cent and that sto lis were
being carried Mt per cent. ~ cont
slider, F" said Il. G.. Gibson. Tho situa.
tion as regards the New England fac
tories the most serious factor In this
market" .a .a'
The failure of the MiIwaulsee ma.
tional bank on Saturday was generally
discussed in banking circles in this
city yesterday. The failure was not
entirely unexpected by wide-awake
bankers in this city some Of the most
conservative OF whom had been aware
of s real condition for some time.
One OF the bankers stated yesterday
that tho report that the failure of the
bank was due to the failure of tho
Schleisinger syndicate wasn't true.
The banks failure, IL was said, was
due to it having over loaned In certain
parties with which the Schlcisingcr
syndicate had nothing to do. ......|..
Several banks yesterday morning re-
ported the inability To make collcc-
tions in Philadelphia or obtain pay
ment on large balances they have to
their credit in some banks in that city.
One bank has between $3.50. 900 and
5000, 900 in Philadelphia which IL Is nm
able to obtain without recourse TO
measures which would probably cause
trouble. According 10 the reports Of
the comptroller the Philadelphia ma
tional banks were well supplied with
cash on July IL, as were the national
banks of This city. Those reports show
that on that day the reserve of the
national banks of philadelphia
amounted TO 30. 80 per cent of the do
posits. IL rs cause of some wonder,
therefore, why the Philadelphia banks
should be- SO slow in making their rs-
mittanccs to this city.