The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1893-04-22

0ikn0k Loto9 lOE mOGey On 8CcOuut Ol t00
sales Of bills against tho i'm pending gold
shipmcnts, and also against pur chasee OF
stocks for London account, estimated at
fully twenty thousand shares. Posted
rates were lowered to Ass and 40. Money
was In better supply near the close. and
lent as low as 4 per cent As the day adj
vanced the belief obtained that inasmuch
as the heavy Withdrawals Of gold from the
treasury would finally encroach upon the
hundred million reserve. there would be
movements of the yellow metal The
sentiment Is best Indicated by the sharp
recovery In values which followed ad-
vices from Washington. whioh, however.
Carlisle had issued an order to the New
York Office to continue payment OF gold
for treasury notes indefinitely.
No word was received at the subtreas-
relative to the gold situation. Acting
Subtreasurer Muhleman notified the Sec
retary of the Treasury of every application
fer gold as soon ae made but received no
answer in any case. and proceeded to pay
ont the gold. About 25 per cent, was paid out
upon treasury notes. According to Mr.
Muhleman's figures the net loss of gold to
the treasury to-day was "a. 6O0.O OF which
all bat $4,000 was for export. Secretary
Carlisle this morning estimated that he
had SsS5O06 free gold in the treasury. If he
has received none to-day from sources out
side Of New York tho treasury free gold 10
all gone. and the hundred million reserve
reduced TO $50. $4,000.
FIRST TIME IN MANY YEARS.
This is the irst time since the resump-
tion of specie payment that the hundred
million reserve has been cut into. counting
In the subsidiary coin as part of the
available funds of the streasury. Differ
ence of opinion exists as to whether tho
subsidiary coin should be thus counted. II
not, then the reserve has been encroeohed
upon seven times previous to now. as fol-
lows: July /, 1882; reduced to $50. 81. 291;
Aug. /, 1882. to S92, 052. 2S6; Dec /, 1882, to
SOS 90l. AS Jan. g 1888 to SIS, 269 sos; Feb. !.
June /, 1883. to $40. $780, 949. The subsidiary
coin was not counted in the above.
The stEingency of gold has made itself
evident lately in the customs receipts.
which used all to be paid in gold. OF late
scarcely any gold has been received by the
treasury from this source. To-day's re-
ceipte OF duties at the customhouse were
made mp as follows: Gold coin, SIS: silver
coin, Sl24 silver certificates. $119. 800;
S132, $50. Late in the day. just before the
subtreasury closed. IL was reported that
officials there had been notified Of q de.
mand which will be made tomorrow for
S4,0O0.0O0 gold for shipment on tuesday,
and there was an additional report, not
verified that s.. 000,0 gold would be taken
on Monday.
Naturally, as IN times of excitement, the
street was flooded to-day with all manner
of stories. One was to the effect that
President Cleveland. dissatisfied with Sec
rotary Carlisle's conduct of the Treasury
Department., had demanded his resigna-
tion, and another that the President had
issued an order to the various assistant
treas0rers to pay all treasury notes in gold
as fast as presented. These reports are
given to merely indicate the sort OF In
formation that flooded the streets at the
time. One of the latest rumors was that
Conrad n. Jordan. the newly appointed as
sistant treasurer at New York, was to
hold conference with the New York bank
presidents tonight. but this was without
Veritcati0n.
OF late 1t has been favorite superstition
of the street that when the reserve dropped
below the limit set by Secretary Sherman
the result would be disastrous, not only to
values but also to the mercantile CON-
munity. The fact that the shock has been
comparatively slight has caused On easier
feeling about the future, although there
doubtless will not be any surprise 1t the
movements IN stocks. as we'll as in the
money and sterling exchange markets. are
erratic Tor come time to comes - iA-s
VIEWS OF BANKERS.
Manager Sberer. of the clearinghouse,
said that there would be no meeting of the
committee to-day, as far as he knew, TO
take action with regard to the gold situa-
tion. II do not think sny action is neces-
ssry." he said. "as no artificial restriction
that could be placed upon the export of
gold would mend matters in the least or
check the outflow. We are simply coming
to q silver basis in the natural course of
events, and if the present mode of fnan.
ciering continues We will soon have no
gold In the country. but will have plenty
OF silver"
President George S. Coe, of the American
Exchange National Bank, said he Thoughts
that all this talk about gold In the West
was rather absurd. he believed it was
very Objectionable to have any rivalry
established between different sections of
the country by making an artificial money
center some place else than in New York.
He did not see where the sanctity of this
el00. 600. 600 gold reserve came H.. For the
country TO leave ell that available money
In the treasury and fall back on any art,-
tioial means, such as the issue of bonds,
in the present Crisis would be like man
going into brankruDtoy with plenty of
assets.
unable to comprehend Secretary Carlisle's
exact intention with reference to the treas
ury notes. J. Edward Simmons. president
Of the Fourth National Bank. said: Mr..
Carlisle has announced no policy; his
words mean nothing so far as any solution
of the question Is concerned"
Russell Sage said: Il believe that If peo-
pie do dot lose their heads we shall weather
the storm. and that the currency question
will eventually be arranged satisfactorily.
1t Is pity, however, that Secretary Car.
Isle does not take bold stand upon the
subject and give us an idea of what he in
tends to do"
President j. H. Parker, of the United
States Natisaal Bank. said that it was in.-
possible to sec what the intentions of Sec
retary Carlisle really were. On some of
the most important points he had left
every body completely In the dark in his
statements For instance, in reference to
q possible supply of gold from the West.
tho Secretary gives no lnkling of what the
amount of that possible supply is. Until it
could be known what arrangements were
in progress and how much gold was avail
able, it was impossible to draw any con.
cluslons whatever from the Secretary's
statements So far as he saw. the state
ment could havo very little influence on
the situation In the direction of reassuring
anybody.
WILL GO TO A PREMIUM