The Helena independent. [volume] (Helena, Mont.) 1875-1943, 1893-04-22
THEY WONDER WHY.

Finanoiers Had Expected Crashes and
Wrecks in Consequence.
NEW YoRK, April 21.-The upper crust Of
the $1O0. 100000 gold reserve has been re-
moved; the financial world stood by and
in this financial center. no quakinRs of the
earth are felt, and folks who are most in.
terested are wondering why there has beer
no crash OF worlds nor wreck of spheres
Indeed. some fnanciers are looking into
whether they have been fanatic or uncan-
nily superstitious. The engagements for
| gold for export from here by steamers
sailing to-mor ow aud on Tuesday amount
to &c. 175. 600, and from Boston $75O.OOO.
There was much difference Of opinion In
the financial community during the day
over Secretary Carlisle's statement. In the
main the Judgment was unfavorable. and
this to no small extent because OF tho state
msnt's ambiguity. On the stock market,
sccum ulating "oull rumors" from Wash
ington diverted practically all attention
from the secretary's circular. but the ster-
ling exchange market opened in utter con-
| fusion. rejecting very unusual occurrence,
a scare among regular remitters against
foreign credits. the demand for sterling
bills this time proceeding from bankers
doubtful about gold payment for treasury
| notes and anxious to anticipate their pay.
ments, SO heavy as to force up sterling rates
to the highest figures touched since the
panic Of 1884. Over six millions in gold
we're engaged for export by morrow's
stsamers, with orders unusually widely dis
tributed.
In the midst of this turmoil foreign
lenders of money called IN humorous leans
The call money market frightened under
Withdrawals and stock market operators
| Ian hal iaf IN
rates. bid UP on the exchange. So far al
all this was the result of simple fright /,
had reassuring side. Treasury notes pre-
ssntel at the snb-treasury were promptly
redsemed In gold.
There was, moreover. a clear abatement
in several quarters Of the ve1ed gold clause
| in time notes. The older trust companies
and many banks. which to some extent are
lenders on time. made positive statements
| to- day that thev are making no stipulation
of gold payment. Foreign bankers, with
one or two trust companies. are steadily in
sisting on the clause and are resisted by
| borrowers. borrowers on call day were
able to secure accommodation early in the
day at five to six per cent. but those
who DELAYED supplying their wants we're
forced to pay from ten TO twelve. Posted
rates for sterling exchange We're raised to
S4.8s16 and $4.901a and littlo disposition to
draw. The situation improved late in the
day. Money was in better supply toward
the close and loaned as low as four per
cent.
Just before the suhtreasury closed this
afternoon it was reported that the officials
were notified OF n demand to be made to-
| morrow for four millions of gold for ship
| mant Tuesday. and there was an additional
report. not veriHsd. that two millions more
would be taken Monday. or late it has
besn favorits superstition that If the re-
| serve dropped below the limit the result
would be disastrous. not only to values,
but also to tho mer camille community. The
fAot that the shock has been comparatively
slight has cnusod an easier feeling about
| the future. although there doubtless will
not be any surprise II the movement in
| stoeke. IA we'll as In money and sterling OK
change markets, ia erratie for somo time.