The record-union., 1894-06-21
Comptroller Eckles Says the Banks
Have a Plethora of Money.
THEIR ONLY WORRY NOW IS HOW
TO PUT IT OUT.
Believes That There VIII be a General
Resu .,tion of Trade as Soon as the
1uriR Bill is Disposed of and Con-
in the Treasury Lower Than Ever
Before in Its History.
Special to the REcoRD-UNIoN.

Special to the RECoRD-UNIoE.
CHICAGO, June e2O.-Comptroller Ecl<les
of the Treasury Department is in Chicago.
He is taking advantage Of vacation to
become personally acquainted with those
Chicago bankers whom he met at the
banquet given him last September. To-
day Mr.. Eckles had a conference with a
number OF the national receivers of the
West.
1.-The conference was of a private char
acter," said he. 81 thought it better
while was home to call the receivers to-
gether to talk over the condition of their
banks than to have them make the jour
ney to Washington.
"The banking business of the country
was never in better condition than at
the present time, so far as money on hand
is concerned. The banks have plethora
OF money on hand now, and are as much
worried to put it out as they were at this
time last year to keep it in their vaults.
look for resumption of general trade as
soon as Congress adjourns and the tariff
schedule is settled. The stocks of the
country are pretty well used up, and [
expect healthier condition of trade than
we have had for some years"
NEW YORK, June 20.-With reference
to the meeting of the bank Presidents
held yesterday, at which it was then said
in Wall street they had concluded to fur
nish gold required for export, to-day's
EOeni3lg Post says the meeting resulted
in no action. The Post says: 1t is on the
authority of those bankers who were
present that the statement is made that
that was done, and the meeting, which
adjourned sine die, left each bank free, as
before, to determine for itself how much
of its gold it would part with to any of
its customers for export. All those pres
ent expressed themselves as quite willing
TO do all in their power to aid the Govern
ment IN an emergency. but it was the
prevailing sentiment in this matter that
the question was to be left to the discre-
ton of each bank.
CINCINNATANS DO NOT WANT TO PART
WITH THEIR GOLD.
CINCINNATI, June 20.-The banks and
capitalists on the Board of Trade are ex-
ercised over circular letter from Mr..
Morgan, United States Treasurer, in
structing the Sub Treasurer to secure all
gold possible here, and asking the banks
and others to exchange gold IN sums of
500, 900 and multiples for new paper cur
renoy. The Chic Valley Bank had
promised the sub-treasury $50, 900 of gold
to-day, but the prospect of a premium on
gold renders it doubtful whether any
coin will be released here. Thomas EN-
cry, one of the largest investors here, has
for some time made all his contracts pay
able in gold, and others to-day state they
propose to adopt the same policy.
GOLD RESERVE Low.
WASHINGTON, June 20.-The gold re-
serve to-day, after deducting s., 900
engaged for shipment tomorrow, is
S64, ,047, or S735, $50 lower than ever be-
fore in its history. On February 2, 1894,
just previous to the bond issue, the re-
serve reached $50, ABS. .377, the lowest point
to that time. and the cash balance was
SS3, ,545, 1O2. The cash balance to-day was
S1l5. .763, 705, or 81, ,5lS.6l3 greater than on
February I'd.
The Treasury officials are apparently
not alarmed at the continued outflow of
gold. That there is no lack of gold in the
country is shown by the last National
Bank statement, which shows that on
May IA, 1894, the National Banks of the
United States held specie to the amount
of S259, ,941 1923, of which over S204, ,000, 900
was in gold coin and gold certificates.
The Treasury receipts so far this year
aggregate $2S6, ,S77 ,632, and the expendi-
lures S361, l51, 1897. leaving deficit for the
year up to this time of S74, 273, ,705.