Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1893-08-15

Everythlng was very snug In BANKING
circles at the close Of business yesterday,
and averaging up. the banks had received
during the day more currency than they
had paid out. Still there are persons who
do not seem 10 understand that ell cur
rency deposited SINCE the opening Of the
banks Friday Is payable upon check de-
maud over the counter at the option of
the drawer of the check. The banks alb
solntely pledged themselves to pay in cur
rency oil checks against currency de-
posted on or after the 11th. and deposit
ors. therefore, do not lookup any currency
they now deposit.
THE CoMMoSwEALTE's CHECKS.
wrong impression seems to have got
ten abroad regarding the attitude OF the
State towards the banks. There IL no dis
position on the part of the Commonwealth
or her officers TO press the banks. Inc
banks recognize that the State oficers
have no night TO make Commonwealth
checks payable through the clearing
house. but the vast majority OF the checks
given by the state do 60 through the
clearing house on the regular order OF
business. Small checks issued TO treasu-
rers and sheriHs for mileage are generally
presented at the counters of the banks and
paid in currency. but the sum total OF these
the Capitol officers and the bankers re-
suited from the currency on one or tins
class of checks being refused through
mistake. The state is ready TO help the
banks to her full extent within the limits
Of the law. She ia depositing more daily
than she draws out and the truth Is,
having paid her interest and pension-roll,
does not need any money.
WHO ARE THE sHYLoCKs?
The DIPATCH has heard various rumors
that curb-stOne brokers and other Shy-
locks were shaving certified checks, but
could get no names. If this desplcaole
work is going on to any extent 1t Is being
kept very dark. One OF the schemes, III
u said, Is to tell those ignorant OF business
methods that the people will soon get
tired of standing together, and then the
exDedlencv currency Will depreclate Sucn
an argument is absurd. Men having certi-
fed checks should understand that they
are as good as gold answer all the pur-
poses Of currency for the regular every
day banking transactions, and tuat even
IN siimes when currency Is plentltul 20
per cent of the business Of the country Is
done with checks. drafts. and notes.
Hundreds of small checks found their
way into the banks between 2 and 3
o'clock yesterday afternoon, and during
the day hundreds of others were circu-
lated from hand to hand. One hard
worked bank clerk told IA D13PATcH re-
porter last night that he made up list OF
checks on another bank as long as his arm
and the column footed no only Sl,lOO.
ONLY PARTIAL SUSPENSION.
1t was reported yesterday that the two
branches of the American Tobacco Com
many bere-the Allen IL Ginter and the
Whitlock-had suspended operations for
the present. This was only partially true.
In the departments in which the branches
are stocked they have shut down tom
norarily owing 70 the difficulty expert
enced in getting currency with which TO
buy stamps. In other departments, now
ever. they are working as usual
Deputy -Collector-of Internal Revenue
n. j. Smith said last evening that during
the day all the tobacco factories had
bought stamps, but the amount OF business
done IN his Office would not exceed third
OF the usual volume.
The Southern Stove Works have decided
To SHUT down for few days owing to the
scarcity of currency. They Will start up
again as soon as the famine Is over.
SMALL CITY BONDS.
The city, in common with individuals
and firms, has been lnconyenlenced by
tine scarcity of currency and yesterday
the Mayor. the City Attorney, and the
Finance Committee held q conference in
The State Bank building to consider the
adyisability of issuing city bonds OF
small denominations bearing 6 per cent.
interest ana having one year TO
run. The proposition seemed to meet
with general favor, and there Will be an
other conference this afternoon. at which
the details will be arranged and a report
asking authority to issue the bonds VIII
be prepared for presentation to the Board
of Aldermen at tO-niGhts session OF that
body. 1t is understood that the plan has
been approved 10y the bankers to whom II
was submitted.
At the Office of the City Treasurer certl-
fed checks are being received for obhga-
tlons due the citv provided they are drawn
for the exact amount OF the bill.
WILL HELP HIS FRIENDS.
Captain Charles II. Epps, City Sergeant,
said Yesterday that he happened TO haven
his Office 81 600 in currency, and that he
would be clad 20 relieve the wants OF his
fellow-workmen TO that extent in exchange
for tteir certified checks or scrip. lie
added that he would not take n cent In the
wav of discount. and that he would accom-
modate white workmen who called upon
him at his Office IN the City Hall TINS
morning between 10 and II o'clock.
If all who chance 10 have currency will
follow the example of Captain Epps a
great deal of relief may be afforded work
ing people.
SLIGHT REDUCTION on THE CAR LINES.
There was a rumor on the stree, that
there had been cut of 10 per cent. IN
the wages OF the employees OF the Rich
mond Railway and Electric Company and
that O number of the motormen and con-
ductors had quit work rather than sub
mil TO the reduction. MIR. Fisher, general
manager of the entire electric system, de-
med that this was true. We have made
| no such reduction" he said. "Some few
| of our employees were getting more than
| yo felt that we could now ahord 10 paw
them. and thor pay has been slightly cut
down, in some instances as much. per-
| hans. as per cent. The other men who
were getting none too much have not been
| touched at all. We laid off some men
! SATURDAY. night who had been engaged IN
| construction work, but they had finished
| what they were on. Among these were
some fifteen who were equipping the
| Riyer-VIew track for the use or electrl-
city. Altogether We suspended about
| thirty.
Our travel" Mr.. Fisher added as he
| and the reporter We're about to separate.
has fallen off about one third since the
| beginning of this financial trouble. and II
| things get much worse we shall have 10
reduce salaries had rather reduce the
wages q little and keep ell OF the cars run
! ming on Main street than to take OIL part
|
| the men out but subject the pubic TO in-
| convenience. Our men are paid III cash.
| We will not use either checks or scrip"
! Several employees who were seen in-
sisted that there had been general cut III
| the amount paid all the motormen and
conductors and all other men receiving
more than o fixed sum por day.
THE RICHMOND AND DANyILLE.
| About the 1st OF August, it will be re;
membered. the receiver of the Richmond
and Danvile Railroad Company ordered
| that the working time of large number
| of the men In the company's employ be re-
| duced one half This order included the
| shops in Manchester. Last week, how
ever, Superintendent Barbour Thompson
went 20 Washington ana succeeueu ia
| having the order changed so as to put the
majority of the Manchester and Alexan--
| dria shops forces and the grading force at
| the Midland branch of the road on three
tourths time. Mr. Thompson expresses
/ 4. A. 4. ,otaxf NIL h0VA