New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1893-08-25
STOCK FAILURES AVERTED.
WALL, STREET RELIEVED OF THREATENED
DANGER.
CURRENCY PREMIUMS RAPIDLY DECLINING NND
THE COLD PREMIUM ABOUT OoNE-uN-
rouNpEp RUMoR ABOUT ACTION

THE COLD PREMIUM ABOUT OONE-'N
FOUNDED RuMoR ABOUT ACTION
OF SAVINGS BANKS.
x.,.u S,r.s,,s markets opened yesterday uhuei
81. .h.aovv Of dread of important tau'e' III
consequence there was little disposition :" -,
and prices were irregular and unse'Ueu TO-. ~.
yornation conveyed TO large interests ' -
failure had been averted res'raneu AZ - anong
ooers Of stocks. When the delivery hou' -" ,,
az. hrolers passed without the development Vi us
.,.r and u became known generally 'na'
.s-,.noo had been rendered to the house In "ouo'e
the feeling of relief throughout the ""e
sxrresson in a sharp rally In values ,,..oa
The suspension which was threatened go
A. have been that Of prominent s'och ',o -,
g. ,,,n,ch has been interested in Rio Grande "es'
.rn q, Louis Alton and Terre Hau,e' 49,,
Central Construction and New-io'N .rrass
Company But the principal cause vi 49,, r,
ment was reported to be the hrh eN ,oras
,,.,.rts IN various municipal and county po"uS
The monetary stringency has rendered me- THE
..,.. % this sort practically unmarke'ao'e' -"
uahu,,,es Of the firm are said 10 amoun' Zee
a. o,o m IL is understood, however 'ha' wv ,,s
succeeded in arranging for the p'o'eN .r.,on
-. ,,rouyb a ., Indicate of powerful io'e
-. 90 that IL will continue In pusine'
..,,.,,o, xrir he deferred until the ma'h'
aa,s,ae securities enjoys improvement Inc az 49,,
.o,yencv of the firm was assured oy Hs a' sono
the condition OF the money market '"'' .u,,sbed
., tie loans II assistance had not pee, :, Sc,
=, was also commonly understood IN "n ",,ng I,
that another firm. whose loans were W, M hartng
had been protected by important prNa'
interests. ,,o, Wall Street
had dreaded II is thought by bankers ma. arous-
n.reecial influence on the money n'aih. ,ou :,
oa.s ~ lenders may be allayed anu '"e ,,
severe pressure other concerns e' 49, cont
s..s,.rdsv.. rates for call money were per en-
I'm
90 ~ quotations fall to lower figures. Inc ieei
to- =, ,e,ief in financial circles may nave ia' az
Influenced the currency SITUATION WHY" ~
signs Of relaxation. The demand LOT cur"
rsrs,rted by money-brokers 10 De ds oi' " 80,
hu, there was an increasing supply Sor'e o''".''
refused 10 pay more than y per cent premium
ca.h and they made sales not above per cent
90 a. hou,sver reported quotations at III per
con, for currency and lAdll2 per cent Tor spot
cold Rank officers who sold currency on ORDERS
from out-of town correspondents SAID ua' IL h"'
been difficult to secure l per cent premium ~.
several days Zimmerman & Forshay saiu 'ha'
che premium on gold had virtually disappeared
They cited as an instance Of the easing III CON
drions the fact that they had contracted TO brns
,1np currency from Chicago at IL per cent pre-
r,,uu Two weeks ago the firm was sending cur
rency 10 Chicago at a premium OF S'2 per cent
One reason assigned for the disappearance OF 'ie
premium on gold the speculative character Oh
of the recent importatlOns NhlOH V' '''''N'
had found that the increased supply snoWed
lessened necessity for the precious metal COM
peting offers 10 sell these speculative importauohs
depressed the premium out OF sight
one influence which gave big HIP 10 the
close Of the stock market was the rumor that
the savings banks had decided TO pay out deposits
without requiring time notices. The rurnor was
subsequently, denied by officers and trustees OF
several savings institutions. The question has
been discussed but the general sentiment seemed
10 be that to abolish the time notices wouln pe
An unwise step long as any premium eAlstS.
on currency. II is feared that the premium niignt
tempt large Withdrawals TO meet which the SAVINGS
the commercial banks and trust companies This
would increase the currency strtnsercy, ana tend
20 svstain and increase the premium IL Is
ccnsidered TO he too early for the SAVINGS banks
20 sttempt a return TO normal methods.
rtc cles ring House Loan Committee yesterday Is
sd kpG loan certificates raising the total amount
cu,st,ndine 10 SIS 10000. The Sub-Treasury paid
80 ssll 40 gold and 10000 Treasury notes on
cchecks cashed at the counter, and transferred 70
Ne Srieans by telegraph t27 900 gold and $4,000
silver IL paid $4,000 I'm silver, ana received
si 90 In the course Of business.
The directors OF the Thurber- W hyland company
YESTERDAY voted TO pass the semi-annual dlVluenu
81 per cent the preferred stock Presdent
r. T. Thurber issued etc .ement explaining mat
the monetary strngency .Etates this action me
times Improve The stockholders are congratu-
lated that the compsav has. in most trying times
proved It's ability 20 meet its Obligations al maui