Omaha daily bee., 1893-07-21

was vigorously condemned in financial CIR
cles this morning. II resulted in the names
of several prominent companies being sug-
gested as the one concerned, and serious
decline In the price OF the stock OF one OF
these companies resulted therefrom. Prompt
denals were, OF course, made by the officers
OF the companies against whom suspicion
was thus directed, but in the absence OF pos
tive Information as to what company was
referred to. the rumors were not set at rest.
Well informed bankers and others quickly
learned that none OF the companies mem
TONED was the one referred TO in the appli-
cation.
Several bank presidents said that the ac-
tion OF Judge Brown was ill-adviscd, because
IT might be the means Of doing great in
Justice 10 innocent persons. For instance"
said one Of them, "this bank might in good
faith today discount O note of this mystic
rious corporation, or accept some of its
checks, only TO learn tomorrow, too late TO
protect ourselves, that the company was in
the hands OF receiver"
Sterling Exchange Weak.
Sterling exchange was weak and lower
this morning, the quoted rates being S4S2H
Cd4.S4II, and there was talk OF further I'M
ports Of gold.
The subtreasury was debtor at the clear
ing house this morning S45l 900, OF which
about S40O, 900 was settled in gold. The sub
treasury up TO midday had exchanged 5000
600 in currency, mostly "fves," tens" and
"twenties, - for large greenbacks and gold
certificates and il was expected that a little
more would be exchanged later in the day.
1t was supposed that the currency thus OBJ
tanned from the subtreasury was for snip
mcnt TO st. Louis and Kansas City, as de-
mands for cash were received from two or
three OF their large banks.
The demand from that center at this time
ia not regarded as at all serious. "St.
Louis" said n banker, "is doing what Chi
cago ought to do: rallying to the assistance
her cash, and, like all tho other
big cities, it finds its way to
New York when its own resources
are out. ST. Louis and Kansas City will
soon begin to reap the benefit of forwarding
cotton. and some corn is already being for
warded, and, therefore, I do not think any
trouble need be anticipated there.
Similarly, | do not view with alarm the sus-
pension of the banks in Denver. They are
probably all thoroughly solvent and have
closed temporarily for their own protection,
which was the best thing for them to do
under the circumstances. The threatened
closing Of the mills in the east regard as a
much more serious feature ,of the present
situation than the closing of the Denver
banks"
Worse Mt Philadelphia.
The situation in Philadelphia was said
oy New York bankers to be worse
Applications have been received from there
for cash in order that this weeks
pay rolls mlght pc supplied. Inc DanRS
which received the applications forwarded
the necessary currency. 1t is probable that
some OF the banks in this city will adopt
some method this week to avail tn emselves
of their credit balances in Philadelphia The
trouble is said to exist only with some of the
banks in Philadelphia. New York banks
BAY that they may charge a commission of /
per cent after today on all Philadelphia
checks received for collection.
The clearing house committee met this
Nrnr ttnn. md of lam ,nrftH n
Gates to a small uptown bank. No certiti-
Gates were retired but it was regarded as
probable that sl50,0 would be retired be-
fore the close of business today,