The Indiana State sentinel. [volume] (Indianapolis) 1868-1895, 1893-04-26
THE FEELING IN wALL-sr.
Conference of Bankers with Conrad \
Jordan.

Conference of Bankers with Conrad n.
Jordan.
New York, April 22.-Nsturally enough,
in view of the continued heavy export of
gold to Europe and the uncertainty as to
the treasury policy, Wall-st. today con-
cerned itself almost entirely with
the various Tumors in regard to
the attitude of the New York
banks toward the government The
sum OF 100000 in gold was paid into the
sub-treasurv in New York today by the
SeRman's exchange bank. The withdraw
ais were 81, 100000. 1t was reported from
Washington late in the day that Secretary
Carlisle had received tenders of 1000 0U0
IN gold, thus lifting the treasury reese rye
once more above the 500, 000,000
mark. The secretery refused 10 an
which rendered the gold. The most
important event of the day was a long
conference between the bank presidents
and Assistant Treasurer Conrad ~ Jor-
dan at the clearing house this afternoon.
The meeting lasted two hours. After it
was over it was learned from one who
was present that Henry w. Cannon,
president of the Chase national
hank, had had conference with
Mr.. Jordan last night and had
gone TO Washington as an emissary from
the bankers here to President CLEVELAND q.
This morning Assistant Treasurer Jordan
issued invitations to the following bank
presidents to meet him at the clearing
house for q conference a > o'clock today:
George ). COe, of the American exchange
bank Williams, of the Chemical Wright,
OF the National park; Barker, of the First
al Iva 81 h.
Suillman, of the City; Woodw OF the
Hanover; Simmons, OF the Fourth ma
tional; Nash. of the Corn exchange bank,
and Galloway, OF the Merchants national
At the meeting the financial situation
was thoroughly discussed and it was de-
cided that the parity of gold and silver
must be maintained and that the govern
ment must meet its obligations in gold at
any cost 1t was practically decided
among the bankers that they would d.
vance no more gold to the treasurer with
out an invitation and even then not a
large amount without bond issue
Secretary of the Treasury Carlisle re-
Gently received an offer TO deposit gold in
the sub-treasury at San Francisco, which
he accepted. The gold was turned in and
payment for it to the correspondent in
New York OF the depositor was authorized
By telegraph. The correspondent appeared
at the sub-treasury here and received
Rreenbacks. which he returned the noxt
day and damanded gold for them. Thus
q transfer of gold was made from San
Francisco to New York with a saving of
freight and five days interest, and patri-
otto offer of gold was converted into a
transaction for profit. Mr.. Carlisle will
be here Tuesday or Wednesday to par
ticipate in the naval denomination and
will probably have q conference with
financiers; at least, this is the program
mapped out by New York bank officials.
The usual ten DAYS statement of Gus
toms shows q further light decrease OF
payments made on treasury notes and q
decrease in the receipts of U. S. notes
almost equal to the receipts of silver GER
tifcatss. The figures are: Gold OF per
cent. gold certificates 4 per cent, silver
certificates POL per cent, u. s. notes 47.6
per cent. and treasury notes 1852 per cent.
Rockefeller OF the Standard oil COM
pany, who has business all over the world.
says: 81 do not believe President
Cleveland will let US get off q
gold basis. He can keep gold and
silver on parity by selling bonds and
l believe he will do it. Aside from the
gold question. believe the administration
will have to issue bonds any how TO meet
the expenses of the government. Our
present trouble comes from the simple
uncertainty OF the situation.
II President Cleveland came out
in straightforward way and
stated that he proposed to keep the cur.
rency on gold basis by issuing bonds.
no matter how great the amount, il
would answer the purpose. believe with
such a statement alone the situation
would be relieved enough so that no
bonds would need to be issued to main
tain the parity"