The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1893-06-16
TaE caicAG0s Loxa CRUISE


ANxopSoo S40o0rO0.
NV YosK. June i5.-The United States
cruiser Chicago. flagship Of the European
squadron. sailed from this por. today for
Galway. Ireland She carried 4lo officers
and men. dies the pennant of Acting Rear
Admiral Henry Erbea. and is commanded
by Capt. 4. 7. Mahan. Admiral Erben
has been ashore for three years and this is
his firss flagship command. The last time
ne was at sea he was a captain. When
seen BY reporter just before sailing, he
said:
shall visit ali the European ports. starting In
with Galway, then shall run over 70 Pensanco
and the Chicago will not Be far distant when
the international yacht rsces aro sailing in
British wsterA II the lvenhoe il fortunate
enough to win the men aboard the Chicago viii
% BEARD from Many Irish porss have never
been visited by United States wasshin The
Corvette Enterprise Waited the English coast
some Iour years aga. but psioe 10 the Eater
Prise visit American men Of War were seen IN
EnSnah waters only at long intervals During
tue summer and carly fall shall cruise iu.snd
around British is,anas and in the North sea.
ana then late In the fall shall run down to the
Mediterranean and cruise as far - the Lsvant
kariy next spriag We may run down 70 Zarxi-
oaf' ana % the summer approaches. work our
way Into Northern European waters again. The
Chicago wtii b kept constantly cruising a. long
- have command OF the European squadron,
ana ~ many ports on the station will be waited
- practicable
In well-posted naval circles il is believed
that the Chicago will be ordered home be-
fore executing her three-years' cruise. In
this event Admiral Erbcn may be expected
to shift his dag to some of the warships
now IN American waters. The opinion is
general that the armored cruiser New York
will be ordered to the European sta
ton early in 1894, and in such q case
the New York will be the next flagship OF
the European squadron.
Clearing House Certificates to lssue.
NEW YORK. June l5--In view of the
serious drain upon the banks here, caused
by the demands from the interior, the
clearing house committee proposes that
every clearing house center in the country
issue clearing house certificates, which
would make available for use between
banks vast amount of perfectly good
assets which are now uncurrent In the
opinion of sagacious and conservative
bank officers Of this city it would
be . long step toward the festora-
tion Of confidence. The last time
clearing house loan certificates were taken
out was during the Barring trouble. when
the example Of the New York banks was
followed by Boston and Philadelphia
This course would virtually make each
clearing house group single bank of dis
count and would distribute the burden of
accommodations more equally than at
present. enabling institutions short Of
cash 70 obtain it from their neighbors
without attracting attention or creating
distrust.
The general meeting of the clearing
house began at aoon. President Williams.
Of the clearing house committee. said:
''sFhe aAction of tlaiseeoaaiaEse Ass hssn
taken largely With view to giving tone 70
the country. II is likely to b followed by
other centers. The cities are all right, but
We want to strengthen the outposts."
The meeting adopted resolutions to ap-
point committee to receive from the
members Of the association securitics to
be approved by said committee, who shalt
be authorized to issue therefor loan certi-
icates bearing 8 per cent interest per
annum. the certificates to be received and
to be paid in settlement of balances at the
clearing house. No certificates have yet
been applied for. but the loan committee
will meet tomorrow to receive applica-
tions.