New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1893-07-23
HEAVY CALLS FOR MONEl'
4 RENEWAL OF THE INTERIOR DEMAND o'
A LARGE SCALE.
THE BANK SENTIMENT UNEXPECTEDLY fANo"
,rtr-INcREAsE IN GOLD PAYMENTS
THROUGH CrSTOMs-sTOCKS BREAh
SHARPLY. BUT RECOVER LATER.

AELE-INCREAsE IN GOLD payments
THROUGH CrsToMs-SToCKs BREAK
SHARPLY. But RECOVER LATER.
Tho f.,,uro Of the local monetary situation ycster-
dav was the renewal Of heavy demand ior n" no,
for shipment. The ~ul,TTcasury paid out roV'
I'm small notes FOR this purpose and Hr-' H"'
shipments were made from III" vaults oi NV ~, =,
# * con,crvatvcly estimated that SloN'"" a.
least left the city for interior points Inc h'o,
wa, larger than on any single day in many "e'"''
# was OF a character promise continuance WIN
the new week. The shipments are lh''"u'u -,
Chicago ST. Louis and many scattered points, ""' ,.
heaviest demand came from the Exposition NY -"
adviccs from Milwaukee Of additional BANK S'SP
md an increase In the unsettled feeling were NV
favorable features Of the days news ~ ~ VI.
brak O, financial trouble ut Milwaukee which Is forc's
the Chicago banks 10 ship funds. and they ae IN
again compelled to draw their balances from tlS cry
Tho movcmont Is disconracng 10 the local nh'h"S
community because Il compcls surrender VI cur
r,ncy AT the time when the New-lorK lnSu'""'"'
were hoping TO be able to strengthen their reSor'
in order the better cope with the normal denhh'
for money which the autumn develops when the "o'e
mcnt OF the crops gets under way
The bank statement yesterday was peasant SUI
nrso TO every one II showed substantial gam III
cash where heavy loss had generally been looh'o i'
and the deficit from the legal reserve was "rH'N
reduced The expert estimates OF the showing. paSr"
mon the known movements Of money IN the Wc'N an"
the operations Of the sub Treasury in its relations u
the banks were generally that loss OF Slooo'ooo
in legal money would he reflected The contrary ex-
hiblt Of the weekly statement puzzled bank ofcerS
10 explain. The banks report an aggregate increase
I'm specie OF s1.574 400 and gain OF T'O3'oo III ics'i
tenders total increase in cash OF S2,OSsloD' I'M
loans were reduced $;I.Ol2 800 and the deposits Were
decreased 1867 500. By reason OF the l"Ssench r."
serve obligations the deficit in the legal reserve OF -
10 "a nd
NJ 81 go 80 against snrplus at the same date OF
1-g2 of 500 OG3 800 and surplus OF Slo.1lo32o IN
1901 The Of loans over deposits held has been
reduced 10 ahOut SlOOOOOcO. The banks now holh
in cash SoG3G2, 800, against Sld,O73,7OO In lo'2
and Si2l $4,000 in 1891. The deposits aggregate
$500 40 200 compared with S524 O47 GOO in 72 AMI
SfOG. 7j4. 700 in 1891. The loans amount TO Tio''-
1e1 800 against $50 200 in 1892 and 100000,
900 in 1-9l.
The policy Of the Sub-Trcasury in paying IL debts
TO the banks In COLL has resulted in q remarkable in
crease in the proportion Of gold used In the payment
Of customs dues. The statement for the t"n-day
period ended July 20 shows Hose proportions In
cnstoms payments: Gold coin, j.j per cent; silver
COIN none: gold certificates ~ per cent; silver Ger
tifcates. 49, per cent; United States notes. 80
Der cent and Treasury notes. l6.4 per cent. tn"
percentages for the previous week were as follows
Gold coin. O.l per cent; silver coin. none; gold Ger
tihcatcs 1913 per cent United States notes. 'io per
cent. ana Treasury notes. IL per cent TOT Wv
ten DAYS ended July 20. 1892. the proportions Were
Gold coin. OIL: silver coin. none; gold certificates,
1874: silver certificates, - United States notes
oG1 and Treasury note. 4j.3 per cent. tn" per
cntag. Of gold paid in the last ten day. has not been
exceeded ,incc Alnl. lisa. when TO- pr cent {"
the customs payn"nis We're in yellow coin. since
that dale M. proportion Of gold has never r~'n TO
) pr cent until last week.
There was continued liquidation In securities At the
hut r.
close largely reduced the extent OF The nnal net
losses The selling movement in the stock market
was stimulated afresh nv removed weakness IN Ion
don. where liquidation for Continental account was
reported. some bankers thought That III" foreign
element was selling the stocks bought on the extreme
decline, last week. There f. socitnfe over the
oucsnr Of IN. foriaeltly settlement In London til,
week. and ih" crisis In slam. II Is feared NAV exert
an unfortunate effect upon th" market Tor American
.ccurlti-, in London. Other brokers contend ina
The pro,p pet f European war ironh"~ might result
eventually In the investment Of foreign funds In Ia"
United states. especially - prices are now down 10
a level where most Of the divdcnd-payIns stocks Yield
q IN : Der cent on the Investment. Wclinformed
foreign house, assert that last week witnessed som"
heavy purchases Of railroad bonds for European nc
CONT. the German and the Dutch Investors bong
arg, buyers !, gSiimat'd lnaI w, ampn
OF bonds. and This week Their" VIII be lnre" h''ia'
shipments 81 securities. .,,,,
wcr. the most depressed In the stock marL"l N''i"r
DAY. owing To the renewal Of London selling IN
cico Nw aulcc and -. Paul opened II pr cent
lover -. sold at - !. and th,n hrok" !"
81 75c. closing 81 recovery 10 % - ,'O, a.
willie ana Nashville opened al - Ii" - = d'
cncd 10 II IS. and ended II 12c. a;ain,t % 80
ON Friday Eric was depressed Ia 10 - ani cndr
- p.r cent lower ut n rally To IL use. The bonds
Of Ills company were also acutoy depressed. Union
Pacific fc 10 Is 1Aa II 3D. against J., % w
Friday and Atclison. Topeka and santa f. ich TO
Il Isl II Csc. against i-c. Chicago ana N"r'h.
western declined nom g6 IA to Jjc. clo-ing n
% 70. Ncw ork and New England fell 10 20 )"
2Ic. AGAINST - l--c Friday. Among the irAns.rS
Rock Island fell from 80 1ic on Friday 10 - lie;
but rallied 10 - lac. Chicago. Burlington am
Quincy dropped 10 - Bsc but rnulci 10 ~ 1--c. q
net loss Of only IS per cent Western Union soil
al - :,1c. ana closed per cent lower at % ~:
Tho industrial group was loss demoraliz"d than
on Friday. suffering only small net losses American
sugar Refining early soil IT - 1-5"1 SIC. bur
then recovered 10 =; la - I-5c. against - lie
on Friday. Chicago Gas fell TO II &c. but ut a
rally - 5-sc. closed AT net decline Of "cr cent
General Electric continued irregular, ranging from
a. Ia 10 10 lie. ending unchanged AT the latter
quotation National Lead rallied small fraction
Int American Cotton oil dropped over l per cent
Dt AZ