The representative. [volume] (St. Paul, Minn.) 1893-1901, 1897-05-05
was decided to make full examination OF

q
NEW YORKs tApsn 26.-The sterling ex-
foreign ban,sers. Who tacltly agreed to
make no shipments of gold until demand
sterling reached 4SSN, went to pieces today
as result Of the action of Mueller. Schall
& Co.. who on Saturday made arrange
ments to ship about 81 900, 900 by the steam
ship Trave. sailing for Bremen tomorrow.
Bankers who We're party to the agree
ment understanding started out this
morning to denOunce the shipping firm,
and then some of them decided to take a
similar course and fill any foreign orders
for gold hat they might receive.
Late in the day telegram from Boston.
confirmed in New York. gave information
that kidGer. Peabody & Co will snip $780,
coo by the Normannia. sailing Thursday.
and Lazard Itrere> & Co. who were the
largest purchasers of cable transfers Of
fered against the Mueller. Schall & Co.
shipment, made inquiries at the assay Of
fee as to the premium OH gold.
Reports circulated in Wall street after
the close of business We're to the effect
that with the amounts knoWn-&T'Vo by
Mueller Schall q CO.-upward of S3.0O0W
in gold would go forward to Europe this
week. No positive engagements of gold
were made. however at the subtreasury
or assay office. and arrangements for ship
ments earlier than Thursdays steamers.
if any were made privately al the banks.
ATLANTA Ga. April 2S-Another insti-
tuition hitherto supposed to be one OF the
stanchest in the city. has gone TO the wall
on account of the defalcatiOn OF CaSh!er
Harry A. Cassin.
Attorneys representing the Washington
Loan and Investment company yesterday
made motion for and secured the
appointment of receivers for that con-
cern. the management of which was close
ly connected with the Georgia Loan, saw
inSs and Banking company and the United
States Bond company. The latter and the
Washington company conducted FAR
reaching installment bond business and
We're the repositories Of the savings OF
families in nearly every city OF size IN
the United States.
PITTSBURG. April 3o.-The Nestlns-
house Air Brake company has posted no.
tees in it's foundry department announcing
q reduction in wages ranging from 20 to 40
per cent In some cases the cut equals
80 cents day There is considerable talk
among the 500 men affected of refusing to
accept the reduction
MINNEAPOLIS. April 3o.-Judge Simp-
son today signed an order appointing L.
j. Buxton receiver for the firm of Good
now & Lawther. The appointment was
made on the petition of A. Fl. White. who
states that he is entitled to $240 for his
services for the firm. The liabilities of the
firm are placed at $4,000 and the assets
at $4,000 1t is said that the receivership
was preciptatcd in a measure by the di-
vorce case ended yesterday. The insol-
vency will hold however, as the decree of
divorce has not yet been granted.
The iron Age says that the iron trade
is still drifting without apparent tenden-
cy one way the other: on the whole.
however events have been unfavorabie.
One danger is looming up which manu-
facturers and customers must guard
against in their dealings and that is the
growing uneasiness of labor The unparal-
leled prices at which products are now
selling have forced many to take the
leadership in reducing wages. With the APP
prOach of summer. resistance to reduction
Of wages will increase and cessation of
work may takel place In many places. BUY
ers Of ore are moving very cautiously.
HUTCHINSON. Kan, April 2S-Sta te
Bank Examiner Ereidenthal today tool
charge of the bank of Hutchinson. a prl
vate concern.-The principal creditor IS the