The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1893-06-16

| IA.
| fred Il rife The ball struck Lovey aud
| he fell forward into the drivers arms,
| dead. The horses, frightened at the crack
Of he rifle, galioped off, when the robber
| again fired, the ball grazing Radcliff' 8
! back. Two more shots from the highway
| man wounded two of the animals. The
stage WAS carried along by the two unin-
| iured horses for few hundred yards,
when the two wounded horses were un-
| hitched and left behind. The rob5er made
| 90 effort TO follow, but escaped into the
| woods. Lovey had been Il messenger for
the company for twenty years. Consider
| able treasure was aboard the stage.
CLEARINGHOUSE CERTIFICATES.
NEW YORK, June 15.-With the purpose
Of inducing the banks of the country 10
join hands for the country's financial
veal, the clearing house committee of this
city had an important meeting yesterday
ard another was held today The banks
are beginning 10 feel the prolonged and
unusual drain which the interior is max
ing upon them, and meeting of the clear
ing house committee was held yesterday
afternoon to discuss the situation. The
object of the meeting was to decide upon a
plan which would enable the New York
banks TO give thCir country correspond
ents all the assistance possible. Or course
the first duty of the clearing house banks
is to themselves and their own customers.
Ii was virtually decided that all three iu-
terests would derive the greatest benefit
from the resources in hand if the banks
shonld act as unit IN an effort to restore
confidence The New York banks as a
whole, however, DO not propose to ac:
single handed in the effort to conduct the
business of tue country at the minimum
friction. They will, it is understood en-
deavor through the manifold channels at
their command TO persuade the banks at
all other important reserve centerS to
adopt the same policy they favor The
end in view can be attained only by the
issue of clearing house loan certificates.
This will make available for use between
the banks Il vast amount OF perfectly good
assets which are now uncurrent. Ii will
distribute the burden Of accomm mediation
among the banks so that the entire clear
ing house practically acts as unit in its
relation 20 borrowers.
1t WA learned from number OF trust
worthy sources that t;iere was no special
reason for this action; that no particular
bank or banks require the support or CO.
operation of the clearing house. The
course referred TO is advocated simply on
the grounds Of public policy and with a
view to anticipating any strain that may
develop. In The opinion of conservative
and sagacious bankers long step toward
the restoration of confidence will be taken |
If every clearing house center would at |
once decide &c issue clearing house loan |
certificates, even though the actual taking |
of them should be deferred until the de- |
mand upon the banks compel such action |
The adoption of this policy would, it is |
result III an easier money market |
the country. lG certainly |
would put stop TO the scrambiing of |
every institution 70 secure a greater sup.
ply of cash than its neighbors.
The general meeting of the clearing
house committee today was begun at noon
As he was about to attend the meeting
President Williams of the clearing house
said
The action of the clearing house COM
mlttee, SO far as taken, has been largely
with Il view to give tone to the country,
1t is likely to be followed in other centers
The citadel is all right, but we want TO
the outposts. | am told there
is some considerable hardship i'll mercan-
tile circles here, but ! personally have not
seen it,"
The association decided to issue per
cent. loan certificates TO tide over those
banks which need help in the present
financial troubles
When the result of the clearing house
meeting was learned call money dropped
20 per cent. Time money was difficult
10 obtain, and Is held nominally at per
cent.
No clearing house certificates have yet
been applied for. Tue loan committee Of
5he association Will meet tomorrow TO re-
;eiVe applications. The previous occa-
'ions on which certificates were issued and
.he amounts were 1873, $265, 900; 1854, SEQ
900; 1890, 81 ,650, 900.