New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1894-01-14
READY FOR NATIONAL BONDS
PROMPT OFFER By A BIG INSURANCE
COMPANY.
SECRETARY CARLISLE CAN GET IMMEDIATE AS.
sIsrANCE FOR THE TIRE AsURY-CoNDEMN
TON OF THE sEIGNIORAGl; AGITA-
TIoN-BANKs PIIING Up IDLE
MONEY - ''BRADSTREETS' s.
REPORTS BUSINESS
IMPROVEMENT.

MONEY 'BRADsTREETs"
REPORTS BUSINESS
IMPROVEMENT.
The Wall Street markets stronger and more
active Yesterday at the short session OF the Stock
Exchange, owing to the covering by bears. who are
fearful OF an early announcement from Washington
of favorable action the proposition to issue Gov
eminent bonds The bank statement had little
effect because with the enormous Increase shown
in holdings Of legal money and In the surplus re-
serve there actual decrease in loans the
only declines in the stock market among the more
important stocks in Chicago. Burlington and
Quincy and the Chicago and Northwestern. The
losses were only trihng. and the reports OF large
decreases In earnings of the Northwestern on when
the bears have recently been making sales. are
said by some friends Of the company TO be untrue.
Chicago Burlington and Quincy rose TO '5is ana
fell of to 7rsG7r4 when 1t was reported from Bos-
ton that the next dividend on 5000 shares OF the
stock had been sold for per cent AS the regular
rate is IA per cent this transaction was regarded
as part of the bear tactics to depress the price OF
the stock The dividend was sod by Fisher Howe
and was purchased by Charles Head q Co.. hoHihs
Morse and Lee Hgginson & Co
The banks reported increase in cash OF sl1,-
II; 300 and a gain in deposits of $sSSslW Inc loans
were reduced $50 200 but the surplus reserve was
raised Is 7s7025 and stands at S9oS5o'o against
a., Go 80 at the corresponding date OF 1888 and VA
ms o95 IN 1892 The banks hold in legal money &Zi'
go 100 against si81 90 IN 1893 and sli6lHlW In
1872 Tho deposits aegre-ate &2'.MS.1O, against
s,Gs $40 eoO in 1893 and $is6Se3oo In 1872 The loans
ar,ouut TO siSls5.ioO compared with si3ss'5l" IN
1893 and sii5,SSS,9co in p'-.
Tho banking and Wall Street community is wait
a., Nth interest for favorab bic Washington news
tbis week The agitation OF the Bland proposition
N issue S55Oo0o silver certificates based on the
silver bullion "se!gniorage' has produced oe-
c,dedly unfavorable impression upon hnaPciai men
and except for the common belief that the House
~ Representatives will not be rash enough 10 pass
A.. ,,cas-ro the effect might be more serious.
Bankers consider that the foreign exchanges are
too close 70 the gold-eXportins point 10 warrant
such a trinng with the National credit as ms
form OF imitation would involve. The foreign e*-
change market closed stronger yesterday ana there
a. M confidence In its this week. unless there
should be a Reputation by the Administration OF
the pernicious financial schemes set on 1901 ny 'e
silver and fat money element OF the Democratic
party In Congress. The ease with which the "o'
eminent could float temporary loan Is ihoca,eu
ny the following letter sent by the New-fork Like
Insurance Company TO Secretary Carlisle
New-York. January Is. 1894.
Hon. John G. Carlisle Secretary OF the treasury
Th;s conoany hereby tenders It's subscription at
par 5000 ns next s Per c DAYS 0A Vii Deposit not
less than s@o per week bes,nnns mex n aemosii
for bonds when sam Ne are
Edward n. Gibbs. Treasurer
Tho additional significance to the foregoing letter
uss :, the fact that II indicates how readily the
Secretary of the Treasury could obtain imme1 ,.
,nonev relief from large institutions and chptaaisis
randi,g the actual engraving Of new Donds, II ne
u able to obtain authority from Congress 70 maxi max,
20 nor cent loan. The example OF the New ioTk
44,Se pf Insurance Company would be followed II Is
believed on q generous scale by monetary i"S'''u
The stock market in spite Of the rally near from ,ne
close Of the week, generally shows declines i,oili
Week ago. The Following table gives the iow th
prices made in 1898 lin mos: cases recordea w m me
summerl compared with the final quotations OF the
last Saturdays: ~, v,,.,
Inwes.. Ian. 6. Jan. 49, weeks