The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1896-01-09
LOCAL GOLD RESERVE
SAID TO BE s5,OOO.OOO OF THE COIN
IN INDIANAPOLIS.
One Bank In indianapolis May Equal
the Entire Offer Of CIeve-
land, o., Banks.

Indianapolis bankers have not decided to
help Mr.. Carlisle make the popular loan OF
slO0.O00.0o0 In truth. the local capitalists
are slow to say what they will do. for they
are anxious 10 first learn something further
regarding the terms of the loan. There is
considerable gold in this city, much more
than is generally supposed. Those people
with whom circumstances have been so kind
as 10 compel them to do some banking bust
ness have probably noticed that the banks
not paying out gold. Banking houses
will not give out the amount Of their gold
reserve. but the amount is said to be con-
siderable. One estimate places the gold
here at $5,OO0OO0. a large trust company is
said TO have a million and a half stored
away. while leading bank is reported as
having something like a million. Another
bank is said TO have a half million, while
all OF the banks are reported to have in re-
serve a quantity of the yellow metal a
number of private parties have gold in store.
a telegram from Cleveland announces that
the bankers Of that city have agreed TO take
100000 of the government bonds. This
amount is regarded as very small for a city
the size of Cleveland. Mr.. Malott. of the
Indiana National. said yesterday that.
should MS bank decide to take any of the
Cleveland offer will be purchased.
The bankers say very little gold here is
in the hands of the people, so the loan can
rot be strictly a popular one One banker
said yesterday that If any bonds are pur-
chased here il will be by tho banks or trust
companies. Awaiting particulars concerning
the loan the bankers are doing little talking
They. do not like the words. Ito be paid in
CON- contained in the bonds, preferring
that IL be specified that the bonds be paid
in the same money which is asked for them
II is understood also that bids must be
onered on the bonds, so a person or cor
poratiOn Offering TO take them may have to
wait month before knowing If his PROPOSE
ton Is accepted. They see in the PROPOSE
ton very poor show for the people to buy
small amounts or invest a little OF their
money.
Mr.. Malott said yesterday that the term
popular loan a misnomer He said he
would like TO see in this country popular
loan as IL is made in France, where the
price OF the bonds is fixed. and everybody
than $50. Mr. Malott recalled an incident
be observed one day in Paris where long
lines OF men and women stood in front of
the banks. He thought there was probably
a run being made. and ne made Inquiries
The informa ton was given him that a
municipal loan was being made. and the
people were being offered the first oppor-
tunity to take advantage of it. In these
lines before the banks, Mr. Malott said.
there were rich and poor, and the bonds
In the government.
The bankers here do not anticipate that IL
Will be possible 10 sell the full $4,000 900
or bonds IN this country The government
may be able 10 get from $250OOO0 TO
&0.0Oo,0oo but that will not bring the popu-
lar relief Under the existing circumstances
II VIII be impossible 10 have a popular loan
In the true sense of the term Ii is ex-
pected that much of the gold will be OBJ
tained by selling the bonds abroad prob
ably In Germany, where they will be held
as investments