New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1893-06-17
PART II.
JUNE ~, 1893.
NO CERTIFICATES OUT YET.
To SUSPEND THE DETAILED BANK STATE
MENT
,rur AZ rxr.voRArLE Gross SHOWING IS Elk.

,,h !, tho usual which l. thrown AROUND 'he
edncs Of the Loan Committee when this inethoo
=, r.ltov,nc financial strain Is adopted In ZINES Z"
nanic The committee met yeser ay. hni its mem
-. re,ns.d subsequently to say whether any DARK
had applied for loan certificates on hs assets. a
rumor was current that $1,000 0c0 certificates had
l,eon taken out bl, II impossible either To verify
a, contradict II officially. From trustworthy
source however, statement was received that no
certificates had yet been Issued. II could rot be
learned whether any applications had been put ID
and not acte upon The decision Of the Loan com
n,,ttee to withhold a statement In detail OF the
weekly bank averages to day was construed as mai
eating certificates had already been issued o"t
the assumption probably incorrect The com
nlrtee may have thought /, wise 10 conceal the de-
tlei exhibit to shield banks which may be heavily De-
low the required - per cent of reserve. That there ar
MANY banks in thi, position j. generally ccnce ED III
banking circles. for there wore several dehci'S "noer
the rule of In the statement Issued week
ago and this weeks movements Of money have sill
further reduced the cash resources Of the banks.
THE CURRENCY MOVEMENT.
The shipments Of currency to tho interior were
exir, mely moderate Yesterday. Conservative esu'
mate places the figures at about 800 600, against
previous d,iy averages Of from 81 1000 to 81 co.,
COO Rut IL will .ot be known until to-day whether
this falling of is reflection of an Improved SITUATION
nj the Wcsi. only incidental to IA FRIDAY. snip
nents OF currency 10 Chicago ana otAer western
po
ever on Sunday thereby involving loss of one day.
interest the banks receiving the money. 'nrrencv
shipped on saturday Is il transit on Sunday, ana
reaches the destination about as carly as II sent on
Friday ard the days interest saved TO the receiver
On this account Friday Is usually an "of day AZ
regards money shipments II Is known that pr"para'
lions have been made by sOnc banks FOR shipments
Ct funds today and the carly mail will tell whether
the drain upon this city is the PORT of dimnu-
ton.
New.York bankers are warmly crci,ing the policy
Of the Chicago banks In guarding their receives so
closely AS they doing. thereby compelling their
csuntry CORES pondcnts TO resort to this city for
accommodations This policy is declared TO be selfish
md II tend, TO throw an undue buidcn upon the
New-York banks In meeting the monetary strain
A Western banker was In the city yesterday and
obtained a lean from one Of the downtown banks
He said that lie had just come from Chicago. where
accommodation had been refused him by bank with
which III, institution had always kept large balance
md which had never been called on before for
assistance This banker announced his Intention OF
INN, 1a,cy transferring his account 10 this city.
Another instance furnished by letter received
from an out of-town bank which had asked FOR ana
obtained rcdiscounts few days ago. The letter
said
sour Oldest Chicago correspondent Is the -
Bank We arpied to them for $4,000 OF r,d'scouht
a few days since, and they answerei mat II
was utterly impossible to render assistance. In
they have never been called upon to help us, save
in one instance and In view OF the fact that In the
summer OF 90 our daily average balance was over
100000 feel that they ought to have taken
care OF us In the emergency
1870. WHY CHICAGO BANKS HAVE MONEY
Bankers say that the boasts Of the Chicago banks
that they do need pool their assets Is easily
explained II they refuse assistance altogether to their
customers II the New-York banks followed the same
course there might he need OF issuing Clearing
House certificates. bat the effect on the numerous
points that relying upon New-fork for aid would
be disastrous.
The weekly statement Of the city banks will he
given out 10 day, far regards the totals OF the
Items. Wall street, of course. is prepared for an
unfavorable showing In place. the statement
Of q week ago was mad. on falling averages ana
hence the actual condition Of the banks on last sat
urday was than the statement showed This
fact should be reflected In tO-day's exhibit. The
currency movement this week has according 10 care
full estimates taken from 81 100000 TO ss,OOoooo
OF money out OF the banks. The shipments were
heavy early and should average high In the state
uent In addition 10 the interior chiux there were
heavy Withdrawals Of local deposits. some OF them
being caused by the on the Irving savings IN
stitution and others being merely precautionary IL
is almost impossible estimate the amount OF local
Withdrawals. but they have. il Is believed, reached
several millions. About the only ofsetting gam 10
the banks was in their operations through the Sud
than 800, 700. Conservative estimates on the san
c,dne side OF views. however, place the exisung
srnlus reserve of all the banks at about SloooOoo
after all the loss of deposits this week.
THE CALL MONEY MARKET
TIL. monetsrv strinCency was reflected with In
creasin, effect upon the call money market yesef
day. Part of the higher level was due 10 inc '".'
that by the rules OF the stock Exchange loans "'au'
on Friday must Re carried over until MohohS' "e
ne% is q n iHan If b business was done per
cent. There some round lots ioansa up 10 on ~
per cent late IN the afternoon. and inc extreme quo
atSn Of the day was - - Re osns thus Increasing
Inc demand for money b. the necessary shling oI
leans and some banks wore compelled 70 marx up
ong-standing loans from per cent 10 io"i- p''
The sitter money rates have thoroughly dSmor
SId the foreign eASangg R%, hs higher rate
S Shan,s are , s," Stock STIPULATION % . wal
S Ses q pa the asson Of he s Ger
tl1cates II necessary and me Ie,' f M r. Kenne
with which he formerly identified Dis Is, frnm
and Cattle Feeding active at an ADVANCE OF ION
to % - 1% snt Ss2n@l Siss ssa
dealt In and The price was A earea u" Sugar Refining
"a sp 10 TO So but a@ closed shnde lover at s. - and
10 Il 80. Manhattan Elevated was weak spec'ahy
fall OF over per cent.
PRICES OF STOCKS.
Tho general market lacked its recent support
from London buying Except In few instances
the net advances were confined to small irac'iohs'
Among the foreign favOres Atchson sold at - DO
hut at - "a at the close only held the traction
as its net gain. Louisville and Nashville rose 10
cs ga, but then declined to 81 10. Ihcag''
Milwaukee and -. Paul IN. most active -'och;
and after advancing from 90 II 10 30 10 II re" pcr
cent. New-Ycrk and NewEnglani ana Philadeipr", a
and Reading we're heavy and ended lower iW'
market did not show sensi'iveness TO monetary a.
tivity until the late dealings. when the reactions from
hest quote tons were pretty general -
stock Exchange circles grntifed to earn
that Henry Allen Co.. who failed on NAV w
me National Cordage crash. had completed arrthe.
ments for n compromise with the last one %, NOR
creditors. The basis Of settlement IS 80 cents on
tho dollar and the firm expects 10 secir" Il '"rh',
release early next week ana TO get reinstatement
into the stock Exchange. Mr. Allen says that h
sera,xis The resi- Of his indebtedness moral Oh