The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1893-07-06

New YoRK, July 5.-Much interest 10
being manifested in the special meeting
oi The chamber OF commerce called for
tomorrow, The purpose of the meet
ing 10 to consider the present disturbed
condition Of the finances Of the country
and to pass resolutions expressing the
views Of tho chamber regarding the
present state of things and advising the
course of action which the chamber
should consider most timely and Elf.
cent for remedying existing evils.
Those members who are most active
ly urging the chamber to take q strong
stand we're busy to-day bringing to-
uothcr men who represent interests in
Various parts OF the nation. "How
New York feels and thinks is pretty
well Known" said q member to-day.
'That will be emphasized, 1 hope. But
wa wish also to hear sectional views, II
there DO any such. In this way the
chambers decision may have weight
OlJAlub VI kLlG HLhlbG ah0 IA AuA va Abo
members have influence"
The chief feature in the monetary
stuation to-day, according to several Of
the leading bank presidents, were un-
rest, a lack OF confidence and scarcity
Of currency. Tho latter is, apparently,
becoming very serious matter and
some banks are pretty hard pushed to
secure enough to meet them, Late on
Monday afternoon orders we're received
by telegraph for large amounts OF cur
renoy from Boston, Baltimore, Phila-
dslphia and Pittsburgh. A dispatch
from Philadelphia to-day reported the
refusal Of q bank In that city to pay a
check on it for $l50,000 In cash, The
holder Of the check, IL was said, would
Insist on the check being paid IN cash
to-day. The bank can pay 1t all in sill
yor dollars II 1t cared to do so.
One OF tho most influential members
oithe clearing house said this after
noon: ut is all nonsense, this talk
about an actual scarcity Of currency,
but II everybody keeps on talking about
1t there will soon be one. The banks
have got plenty Of cash, put the trouble
Is they are attempting to hoard their
gold. They have got hundred million
dOllars in gold and currency. The
proper thing for them to do would be
for them to take some OF their gold to
tue sub.treasury and get currency for 1t
II they are in need Of currency"
Several bank officers called at the sub
treasury this afternoon and asked what
they could got in the way Of currency il
they needed any. They did not men.
ton any amounts, so that the treasury
officials were this afternoon unable to
form any opinion what the probable
demand would be for currency before
the close OF business. The assistant
treasurer, however, informed tho bank
officers that the sub-treasury would con-
tinue TO do MS it had done, namely, to
give the banks all the currency they
needed, small notes in exchange for
greenbacks, gold certificates or gold
coin, and for notes OF the denominations
Of ISL and upwards large treasury notes
would be received.
The orders for currency by mail this
morning were reported as, light, but it
Is said that in view OF Mondays expe.
rience il could not be estimated how
much would bo shipped until the hour
had passed for thereceipt OF telegraphic
orders. By Saturday 1t was hoped
much Of the currency that had been
drawn by savings banks in this city and
elsewhere for payment Of interest and
dividends would begin to flow
back into the banks OF this
city. AT tho sub-treasury to-day it was
said there had been no telegraphic
transfer Of money to any point to-day,
but 100000 in small notes had been
exchanged for large ones up to that
hour, The scarcity OF currency in tho
banks, it was said, was known, and
everything had been done by the treas.
nnry officials that was possible TO relieve
tho strain. During the last week no
less than $60O0,00O in currency had
oeOn paid out by the sub.treasury in
this city in exchange for large
notes, tgreonbackS) gold certificates
gold coin and legal tender certificates.
inc banks having checks on tho sub.
treasury had presented them direct, in
stead OF through tho clearing house,
an and mad received tho cash for them.
Inc sub.trGasury in this city has at
present only SIS, 100000 Of currency in
hGmdd, but 1t can draw for two or three
millions more from Washington il occa.
sloh requires. Tho clearing house loan
committee issued 100000 more certif.
cafes to-day, thus making the total
amount now issued $22, ,ll5,60O.
lhreo hundred and thirty thousand
ounces Of silver will 70 out on one
steamer tomorrow.