The Portland daily press., 1893-07-15
The Situation Still Improves.

fal
New YORK, July 14.-The marked i'm
provement in the financial situation,
which was first noticed by bank officers
two or three days ago. was reported to-
day to show no sign of abatement. and
the situation this morning was decided
to be more encouraging than yesterday.
The announcement is made that nor
NAL relations between the clearing house
and sub-treasurY have been resumed and
much satisfaction is expressed thereat.
This is regarded as, a most reassuring
circumstance. The banks reported this
morning the receipt, OF large amounts of
currency from the country and a notice
able decrease in applications for redis-
count and other accommodations by
country banks. The comptroller's call
for the statement of the condition of the
National Banks will, it is believed. re-
lease large amount of currency.
A bank president said today that the
regular statement, put on this month by
business men, merchants and manufact-
urers, show that they are in very good
condition, much better in fact than was
expected.
These statements show that they have
comparatively very little stock on hand
and more book accounts outstanding
than they had in 1890.
Then they had large amounts of stock
on hand, and not so much money owing
to them as now. This is believed to be
a very good sign, as it indicates that re-
covery among manufacturers will be
much quicker.
In some western cities it has been
learned that merchants have pooled their
stock of goods and exchanged with one
another to suit their own requirement.
thus working off their surplus stocks
| without loss.
Senator Allison's Views.
MINNEAPoLIs, Mimi, July 14.-United
States Senator Allison today said: s'If
the government ceases the purchase of
| silver, we can easily maintain it at
| parity with gold and all danger of a sill
yer standard will pass away. The stop
! page will be very great aid in the re-
storation of confidence. Bullion is now
far below the nominal price. 1t will ad-
vance as soon as the policy regarding it's
use is more clearly defined. It will be
| used largely as money in the future and
will eventually be restored to it's old
status.o
| Kansas City Bank Suspends.
| KANSAS CITY, July 14.-The National
Bank of Kansas City suspended payment
this afternoon, and is now in the hands
| of the comptroller of the currency. The
assets are between $4,000. 900 and So. .OOO.-
| 900; liabilities between $500, 600 and ST.
100000. The president is confident the
depositors will be paid dollar for dollar.
| The suspension is due to the steady with.
drawal of deposits since the beginning
| of the financial stringency.
| Bicycle Makers Fail.
| CINCINNATI, Ohio, July 14.-The Buck.
eye Cycle Company, rs and 27 West
Fifth street, of this city, failed TODAY:
assets $81, ,0OO liabilities $4,000. The
cause was the stringency of the money
market.
| The Failures of a Week.
! NEW YORK, July 14.-Dun and Russell
report that the failures during the week
| number 374 in the United States, against
| 1853 last year.
| An Echo of the Atkinson Failure.
BosToN, July IA creditors peti-
ton in insolvency against the Atkinson
House Furnishing Company has been
dismissed An adjustment of the affair
will be made outside of the court.