Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1893-07-13
EASIER IN NEW YORK.
Currency Coming To the Front Assin'
Conditions at PhilRdelphia-A Letter
From Denver.

Currency Coming to the Front Bgsin.
Conditions at PhiIadelphia-A Letter
From Denver.
New YORK, July 12.-Notwithstand-
ing the furry In the stock market TO-
day, bank presidents and others occu-
pying positions familiarizing them with
current conditions unanimously agreed
that the general situation has improved
and continues 10 do so. There was
nothing in the financial situation OF the
country to produce such an unsettllnS'
At several Of the larger banks II was
said to-day that considerable amounts
OF currency had been received yester-
day and again this morning. One large
Broadway bank yesterday received
$500, 900 in currency gold from the
country. Some OF the gold was re-
ceived back from California. The
Fourth National Bank received s34l,-
600 in currency yesterday from country
correspondents, and to-day It's re-
ceipts Of currency by the hrst
express delivery amounted TO SlS5,-
600. with a lot more In sight.
As an indication of the easier condi-
tion prevailing it was reported to-day
that many country banks were remit
ting currency here and getting back
some OF their bills receivable which
they had redscounted here three or
four weeks ago, taking advantage, o;
course, of the rebate in the discount Tor
the unexpired time. At all the
large banks to-day 1t was
said that the demands from
out-of- town customers for accommoda-
ton were lighter than they had been
for weeks. The down town banks still
report a scarcity OF currency, but 1t is
believed that the supply will soon be
more than equal to the demand. All
the signs to-day, it was said, pointed
that way.
The offer o. some banks to pay the
express charges on currency from the
country has had very stimulating
effect on shipments TO this city.
The Sub-Treasury was debtor for sew
eral hundred Thousand dollars to the
clearing house this morning, for the
| first time In the last week, which
showed that the steps taken oy the
| Sub.Treasury officials TO compel the
bankers to present their government
| checks for payment through the clear
| ing house, instead OF over the Treasury
counter for cash, has had the desired
effect. 1t is thought that an unofficial
! intimation by the clearing house com
mittee, that II the practice OF certain
| banks Of presenting government chechs
! direct to the Sub-Treasury Tor payment
were not stopped other and more yigor-
ous steps would be taken for that pur-
nose. proyed TO be more efficaclous than
! the Sub-Tressurer's payment OF the
checks in gold.
Two or three cases were reported TO-
day of country banks. mostly In Penn
! svIyania. coming into this market as
buyers OF commercial paper In a small
w,v tenn pted thereto By the high
rates and the fact that they had the
money to their credit with thelr Ne"
York agents. The amount OF snch
purchases In the aggregate IS not iSrge'
! bnt II is believed TO indicate an
easier monetary condition In certain
sections Of the country. The New
YORK hanks, through whom these trans
action were consummated, reported
them gladly, although 1t meant de-
! crease in their own deposits. Note
brokers to-day reported some buying OF
commercial paper BY three or four oil
! the large banks, but not 70 any great
extent: the banks outside Of one or two
well known leaders In that class OF ousi-
ness are still mostly coufning tneir
dealings to their own customers
The condition Of the banks In Pnlia-
deIuhia was reported TO be spractcaily
unchanged. and New York exchange =
| only obtainabIe in that city At . nign