The morning call., 1893-08-02
Gold Is Coming Back From Europe
and Everything Begins to Look
Vastly Brighter.
SpetIal to THE MORNING CALL

stands to such an amount as will lDaterl-
ally releve the present tension. l. Is es-
timared that Ss,OO0Oo0 or $4,000. 600 will
be SO added to New York's supply If cur
rency within a very short time. Orders
have already been placed with the Comp
troller of the Currency for part OF the
bills, and some of the banks have bought
bonds preparatory to depositing them in
Washington.
Harvey Fish Sons, who make specially
Of Government bonds, to-day sent circu-
lar to national bank officers, urging the
importance of enlargng the circulation.
They said: There is room for over
$500, 100000. provided bonds can be Sc
cured for deposit. The banks perform
service by increasing circulation, and re-
ceive a reward in the shape OF large
profits A bank currency Is the best
which the country can have, because 1t
expands when needed and contracts when
not needed, instead of in the latter case
remaining in circulation to induce foolish
speculation, which hastens and intensities
panics such as We are now passing
through"
The shipment of gold from England to
New York by to-day's steamer reached
$3.50, 900. Arrangements are also repo rted
to have been made at Chicago for the i'm
port of 81. $50. 600, it being engaged against
the forwarding of wheat and produce to
England.
The total gold now afOat from Europe
for America. must OF 1t due here within
the week, is between $1,000. 600 and So, O0O,-
900. About the only difficulty the banks
now have to contend with. it is said. is the
great scarcity of currency.
The general depression in trade is Sc
verely injuring the tin-box industry in
Brooklyn, and it is said the tin-box manu-
facturers will petition Congress to repeal
the tariff on tin. Doth block and plate.
The three largest works in Brooklyn-S.
A. Illsey 81 Co.. the Meserau Manufac-
turing Company and SOmners Bros.-are
working on three-Quarters time. One
member Of the firm of Sommers Bros. said
that If Congress did not repeal the duty
on tin the tin-box manufacturers would
have to close down their works.
There Is trouble among the hat factories
OF Orange and Orange Valley. Orders
have been steadily falling off and many
countermands have been received for or
ders already booked. The Cause is stag
nation In the Western trade. Some shops
have already closed and others are about
TO follow. Not one is working to its full
capacity. The closure of these shops
would throw 5000 operatives out of work.
WASHINGTON, Aug. l. - With refer
ence to tile New York dispatch about
the banks taking advantage of the low
Of m
their circulation, Comptroller Eek tells said
this evening that in July the circulation OF
the national banks had increased over
$5.OO0.OO0. and 10 the quarter ended July
81 the net increase was over $4,000, 0O0
He thinks In this month 1t will be in
creased at least that much more. Govern.
ment per cents are now quoted at 81 0S,
which is quite a fall from maximum fig
ures.
Secretary Carlisle LETT here at O'Clock
this Afternoon for Buzzards Bay to discuss
with the President the financial situation
before the latter col pleteS his message on
The silver question. The Secretary carries
with him much Information specially col
lated at thu Presidents request.
1t is understood the Presidents message
ton.
1t is expected the Pl esident will leave
for Washington Friday evening and that a
special Cabinet meeting will be held Mon
dav. at which the message will be read.
PHILADELPHIA, Aug IA receiver
has been appointed for the Philadelp h la
Packing and Provision Company. There is
no statement, but the failure is large one
CLEVELAND, Aug 1.-The officers and
directors of all the savings banks in the
city have decided to require OF depositors
the legal notice before the withdrawal OF
funds.
ORANGE, N. j., Aug. 1.-The Edison
Photograph Company has discharged 300
men. 1t is asserted the reduction was
enforced for the purpose Of taking stock.
SAN DIEGO, Aug. Information WAS
received here direct from the East this
liner Pauly that A. j. O'Connor OF La
Sale. ILL.,, has been appointed receiver for
the Con soidated National Bank, which
suspended here during the begin ming OF
the financial furry six weeks ago. Mr..
O'Conncr has not yet arrived, but is ex-
pected daily. 1t is understood he has in
stractions to facilitate the resumption Of
the bank.
OMAHA, Aug. AT a meeting of the
presidents OF the Omaha savings banks
this morning 1t was resolved to require
sixty days notice for the withdrawal of
deposits. :.
ST. PAUL. Aug. 1.-The Seven Corners
State Bank, with capital OF 500, 900, has
failed.
UPPER SANDUsKY. Aug. 1.-The
Wyaudotte County Bank has suspended.
The assets are 100000; liabilities,
$4,000.
PORTLAND. Or, Aug. 1.-Conflance in
the banks Of this city appears to be com-
plelely restored. Money is coming in
faster than II can be paid out and BUSH
ness Is rapidly assuming its normal con.
dition. Bank Examiner Wightman has
charge Of all the national banks which
have suspended and expects to open all OF
them for business inside Of a month.