The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1893-07-22
Bradsireets Call Attention to the Fact that
New York Has Felt Ksenly the Demands
for Money in the West.
Already Things Are Beginning TO Look
Better in Denver After the Storm.
Big Mercantile Houses acknowledgements
ciaI Bank of Milwaukee Fails for 81, $685.
900, but the Panic Has Not Spread.


Heavy Calls for Money for ST. Louis and Dem
YER Have Been Successfully Met
NEW YORK, July 2l.-BaDk presidents to-
day reported that the situation was fairly
easy. with some shipments of currency to
ST. Louis, Denver and Kansas City. The
subtreasury was debtor at the clearing
house to-day, 81 $50. 900. and 1t paid
81, 375. 900 of that in gold. all in double
eagles. In addition to that. some of the
debtor banks paid their balances in gold.
30 that more than 81. zoe. 900 in gold had to
be distributed by the clearing house among
the creditor banks. Tbs large balance due
TO the clearing house to-day by the sub
treasury was mainly caused by tho pay
ment for gold delivered to the assay office
yesterday. The pay ments for pensions. too.
at this time of year, are always
unusually heavy. The clearinghouse
loan committee met to-day. but did not
Issue any more loan certificates. Ihey ar
ranged, however. for the retirement to-
morrow or Monday of Sl50.0O0 of the cer-
tIficates. The total amount of certificates
now outstanding Is S22, 100000. Speaking
of the general financial situation this aft
ernoon Frederick ID. Happen, president OF
che Gallatin National Bank. said that he
thought there was decided improvement.
money was easy and there was more con-
hdent feeling every where With reference
Co TO- morrow's bank statement Mr. Happen
card he thought it would show large de-
crease in loans and q decrease III tho de-
Doslts. with q consequent increase IN the
reserve. The amount or cash In the banks
would probably be less than last week.
Bradstreets weekly review of the state
of trade will tomorrow say: The I'm an
cial position at New York has been to some
extent unfsvorably affected by the de-
mands for money &C st. Louis and Denver.
hv far m ri sal
calling for currency TO meet pay rolls. aud
&c 10 believed the result will be q loss IN
cash holdings to IN undetermined amount.
Few changes have been made In the out
stsndIng New York clearinghouse loan
certificates. which are now nearly S23. OOo.-
0O0. The market Is unaffected by the break
In stock values, call loans being at per
cent. OF less. while time loans and COM
mercIal discounts are exceedingly re-
Btricted AT high rates. Foreign exchange
il somewhat hrmer on diminished foreign
stock purchases. About 81. 00O, 900 gold came
In from Europe and the West Indies. and
some 500, 0OC IL In transit from London.
Silver is weaker on threatened adverse
action by some nations or the latin Union.
The number OF failures for week, 467, Is
she largest ever reported for like period"
A tour of the banks aud principal bTOk-
eraRe offices in Wall street to-day showed
that the bankers are waiting and watch
ing the financial developments all over the
country. Special attention Is being paid
D.
The Western National Bank shipped e25. 900
to Chicago and IL is said that the Fourth
National sent about 800 600 TO Sc. Louis
and Chicago; the Chemical Bank sent al
most az large an amount to Western points.
and there are rumors uncontrmed Of other
currency shipments. The inflow OF cur
rency to several banks to-day aggregated
about $4,000. A number of banks are
changing from an Is to per cent. on check
collections on Philadelphia banks. owing to
the sIowness In RENTING on the part of
the latter. Leading and conservative
bank presidents are inclined to regard the
situation. generally speaking, as q little
better than it was q week ago. leading
banker of Fall River. tho was on the street
this morning said that while the mills in his
town were turning out far less goods than
they were six months ago. he did not be-
lieve many of them would shut down. One
o. the largest New York banks has been
handling nearly all the bills of ladinR
drafts, etc., on cotton for Fall River. and
she vice president of this bank said to day
that. Judging from this source, there has
beenl q great falling Oft of purchases In the
last month or TWO in this respect.