The morning call. [volume] (San Francisco [Calif.]) 1878-1895, 1893-08-12
Wall Street Begins to
Take Heart.
PLENTY OF GOLD corlING.
And There Is an Easier Feeling All
Around in the Finan-
cial World.
Special to THE MORNING CALL.

New YORK. Aug. lion Wall street
to-day the posted rates of sterling ex-
change dropred to 81 50 and 81 81 near
the close, and the market was weaker
than ever. The actual rates were fully
four cents below yesterdays highest
figures-a phenomenal drop. The fact
that tue premium on currency and gold
has practically disappeared accounts for
the decentralization. Arrangements are
completed to import gold from Paris,
81, 100000 having been engaged there to-
day.
The Bank Of Germany took precautions
to-day to keep its stock of gold intact by
raising the rate of discount to per cent.
The Withdrawals from the Bank of Eng
land to-day were f220.000, for shipment to
the United States. The offerings Of spot
gold for immediate delivery this morning
were = per cent, but trades declined. 1t
is estimated that by Monday morning
S. 100000 will be added TO the stock ac-
count here. Money on call was abundant
at 10 4.
For the first time in weeks there was
some business in time loans at 6. Mercan-
Tile paper is quiet. The demand for cur
rency is not so brisk, and money-brokers
report falling off in the business. The
banks are paying out as little actual cash
as possible. Silver is somewhat easier.
There were no sales and the only Quota
ton is 73 asked.
The steamship NOrmannia, from Liver
pool. arrived this morning. She brought
e906, 967 in gold.
ha Tel Poll hno
PEELED to suspend the payment of employees
on account Of inability to get currency of
small denominations. The men refused
checks.
The Sheriff has taken possession Of the
Equitable Manufacturing and Electric
Company. 1t has capital of S1,0O0,O00.
Criticism of the methods Of the sus-
pended Madson-square Bank is very bit
ter. especially as to its dealings with State
Treasurer DanfOrth and its relations with
the State Democratic machine. Peter F.
Meyer. one of the receivers. is a partner of
Richard. Croker. 1t is now believed that
it was through the efforts of Edward S.
Stokes, an intimate friend of Hill. Muir
ply, Croker and other machine leaders,
and a director in the bank. that so large an
amount of State money was deposited in
the bank. II was learned to-day that one
of the directors of the bank himself with
drew his own deposit, amounting to $780,
600. in the same way Danforth did, namely,
through the Clearing house, next morning
after the failure. Another director also
advised Danforth to withdraw the State
money that way. so the directors might be
relieved of their personal liability to the
tot frr ho hnu wi fyfua
personal bond to cover the deposit.
WASHINGTON. Aug. II. - Secretaries
Gresham, Carlisle and Bissell left Wash
ington this afternoon for Deer Park, Mary
land. where they will remain till Monday.
Before Secretary Carlisle left he had con-
ference with Assistant Secretaries Hamlin
and Curtis, Treasurer Morgan and Assist
ant Treasurer Meline in regard TO the
great dearth of currency. and it was de-
cided to exhaust every means at the dis
posal Of the treasury to assist in putting
currency in circulation.
Six hundred and thrty-two thousand
ounces of silver were offered to the
treasury to-day at 75h to 76 cents. All
was declined and S0.75i5 rendered.
BUFFALO. Aug. 11.-ln response to a
question by local corporation, Comp
troler Eckels has given an opinion that
the use of certified checks as currency is
not contrary to law. The scheme is to
make certified checks for SIS and $40, pay-
able to bearer, to be used in payment of
wages. Bankers and business men here
believe it will bring large measure, of
relief at once. Advicps to the Associated
Press are to the effect that similar action
is being arranged by employers and banks
at Danbury aud Hartford. Conn.
CHICAGO, Aug. 1.-THE Vernon (Tex.)
special District Court has appointed a
receiver for the EspuIa Land and Cattle
Company. It owns $4,000 acres of land
and 81. 600 head Of cattle. 1t Is an English
concern. 1t is claimed the company ia in.
solvent. owing to mismanagement. Over
S1.O0O.OOO is involved.
CHICAGO. Aug. 1.-THE Chicago Beach
Hotel, in which James II. Walker. the
dry-goods merchant who recently failed.
was prominent stockholder, went into
the bands Of receiver to-day. The hotel
and furnishings cost s625. .oOO The cause
Of the assignment is stated as INABILITY IN
sell its bonds. The company admits an
indebtedness of $300.000
NASHVILLE. Aug. 1.-THE run nm tbe
Fourth National Bank continued to-day
but the hank officers decided to paw checks
only for 500. Any check over that amoun.
is paid in certified checks. There was mn
excitement to-day. but general feeling of
dsrust pervades the community.
WAXAHACHIE. Tex, :Aug. II. Tho
Waxahachie National Bank has suspended
The assets are $206,0O0 and the liabilities
$S6,00O. Money stringency is tile cause.
CAN KEEP LIQUOR