New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1893-06-14
MONEY PRESSURE UNDATED
THE HEAVY INTERIOR MOVEMENT CON
TIMES
CALL LOANS GROWING DEARER-USI IMPORT Ant

CALL LOANS GROWING DEARER-UNIMPoRT\ Ant
CHANGES IN STOCKS.
Bankers yesterday reported a renewal OF the
pressure for redscouus from country banks all over
the country. The demand iol money through loans
and the withdrawal Of posts from tie interior
banks and saving, banks has sprung up AGAIN with
a vgor almost great when the tna M hi cii>l'
Chicago most severe. II had been hoped
that The monetary string ncy might 'sulier IeaXa
ton, but the indications now are that the newborn
banks must meet demand for cash AMI crsdts fully
up TO the extent OF coupe OF weeks ago Wheie
some localities have appa.cntly completed hluia-
ton others have Developed evidence OF new
pressure, ana while some uf the city BANKS reportd
a subsistence ~ tin. calls upon them others say that
Yesterdays request for redscouns were more runner
Gus than al any time since the financial disturbances
became acute.
The wav. OF business distrust and distress reached
Omaha for the first time Yesterday. larce National
bank was closed In consequence Of the SUSPENSION Oh
the McCague 'avings Bank on Monday anh runs on
some OF the saving, Lanks followed. Bankers heN
expect that these developments VIII lead 10 urai'
Of New York funds by Omaha, and demands are eA'
re'ied 10 increase from D't.oit. where The savings
banks have awaited themselves OF the time notice re-
uuirci for the withdrawal Of deposits Dispatches
from Chicago say that New York exchnng" l. prac-
tically unstable, and round lots oi money were
in sequence rcuctnntly order d to be ,mpp'd u
the Worlds Fair Guy. Suln9eWN 'i'o '''' III
Boston where the rate of interest between banks was
: per cent and New-Nok funds were at
a discount OF 3Oa SO cents per Tlooo'
Attempts were made To b0lto" ni"hc'
herr for Boston AT per cent and III" cnir ncS move
ncnt Yesterday included shipments to Nc" -hhgahi
points At the sub Tres Slry f2tO.OO) oi g0ii cr'
,idcatc. were turned In 10 secure transfer OF cur
r,ncy al the san Francis % subj casury. lie Ne"
York >uh-Trcasury also exchanged small Ills i'r
large ones TO the amount 81 100000 for shipn' III
West. The total movement to lhc Interior WA ',h
mated AT from ~ 100000 TO $;.2o)OW. sine. a''
Friday IN. lc,, In funds to the city bank, bv reason
Of the In cror demand is believed 10 nave been from
- 600 900 TO s:O)O.GOO. and II The movement hecp>
up the bank, will suffer loss in currency this week
a, large ~ that suffered last week In aidtl"h u
the shipments of mon'y OF the city the banhs
are said to have lost some deposits through lotai
Withdrawals. \ p ointment bank officer said that II
onld net he surprising II saturdays bank statement
should show deposits smaller than The amount OF III"
loans
The local call loan market Is beginning to suffer
| from the lc>s Of drp,iis by the city banks. y
| meet the mercantile demand the banhs have h""n
| forced TO curtnil their accommodate on call. NJ
! the stock Exchange new busine,, was generally dlh
! at per cent and the rate rose rs high as I'D per
! cent Although there wer. higher rates made TEN
porarily on call money last week, the business don
! Yesterday WI, at II higher average than on any pre-
won, day in - long time. The stock market SHOWED
slmc effect Of h. hard, ming rates for money. b''
I'm IN. main exhibited ~ >lGn OF distress. Inc
prospect of tighter money con ifere. the speculation
hehnr,i we'll Beir aggrc,si,n caused numerous de
cline, IN early trudl. bat In the afternoon price
were bid mp on the shorts In IN" hope OF lniu,in-
covering and also On the theory mat the >"l'iac,oH
| completion II the oriniglty settlement NJ the Lon
| Ion stock EAchang,. now under way, would brlit
| London >pe, uItors into the American market n bay
|
| There were some sharp rccoverics from the loves
prize, made yercrdal but fractional los,.s werr u,
iained by II. Paul. Rock Island Atchi>on. Northern
Pacific preferred Reading. Erie. American sugar he
| lining hitago Gas General Electric ani minc
| properties. The only important stocks which mad
mnll nnal gain, Louisville ana Nashville. New
| York ana New England linton nnci.c and DiStin,
and Cattle Feeding. The total dealings ior the da,
| were hight