The evening telegraph. [volume] (Philadelphia [Pa.]) 1864-1918, 1870-03-11
THE GOLD SENSATION.

Decline and Fall Of the Golden Empire
Amount of Specie ON Deposit-Popuiar Ins-
pressions.
Gold was permitted to rest in state of COM
parative equilibrium yesterday. Yet the Gold
Room had Its usual appearance as nursery for
unquiet children. The brokers made various
noises said by some cynical person to be given
in imitation of the providers of the forest, and
seemed to subsist upon their own interminable
loquacity.
A visit was made to the vaults OF several safe
deposit companies, but In no instance was 1t
found that there has been any marked increase
in the boarding of gold. If gold were being
boarded il could be done without the knowledge
of the safe deposit banks, as every patron can
place his valuables beyond the espionage of the
bank officials.
1t is hardly likely that capitalists are 'loading
mp" for rise in gold If such a state of things
existed, the evidences would soon come to the
surface. sgas 81 ..a
The reporter succeeded in obtaining an inter-
view with q responsible officer of the Fourth
National Bank. Hestated that the banks of the
city now hold more gold than they have had for
years. About $58, 600, 900 is the sum ont deposit
in New York. This does not represent the
actual amount of coin in possession of the
banks but the aggregate of gold certificates and
coin. The gold certificates issued by the Sub
Treasury to depositors of gold make about
$85 600, 600 of this amount, leaving the banks in
actual possession of $2S, ,000, 600 in coin.
GOLD WAS NEVER MORE PLENTY
than now, and this is because the Treasury policy
has changed. Formerly the department desired
to hold coin, but now wish to throw 1t on the
market. The Fourth National Bank yesterday
had about 81, 600, 600 of gold on hand, and the
Park Bank had the same amount. The former
institution Is chiefly for brokers' and the brokers
all show heavy balances of gold. People who
have been wondering why many failures have
not been reported In Wall street, must remem-
ber that there is no considerable 'short" inte-
rest. This is manifest from the plenitude of
gold, and from the fact that there have been
no strong attempts at o corner" Then there
is no demand for gold; the short interest evil
IDENTIFY does not want much of it; merchants are
not short, and gold, from its own weight has
sought natural equilibrium. Speculation may
cause 1t to vibrate, but from the large amount
on the market it will settle at Its state Of posi-
tive rest, which ls little above par.
THE FEELING OF INSECURITY
among heavy wholesale dealers in all depart
ments of trade is intense. Operators feel that
merchandise Is @ dangerous commodity until
the finances are firm and stable. Brokers in
cotton and other products feel the decline In
fered as much as dry goods. This department
of trade has gone to sleep: A. 7. Stewart, 1t is
asserted, is the only merchant who has done an
active business, and his operations have been
carried on by forced sales.
THE DEPRESSION EVERYWHERE
is only an external sluggishness, natural con-
eomitant of falling market, which will soon be
dssipatad in prosperity. 1t Is believed that
should gold soon reach par, as there Is now
every evidence 1t win, the volume of circulation
will be increased and the insane mania OF gold
gambling will cease to hamper the mercantile
and commercial interests Of the country. There
is keen eye everywhere watching the move
ments of the market, and feeling that gold as
merchandise Is about to expire after a nomadic
and eventful life of ten years. Gold opened
Yesterday at Ill, and closed after rapid aud
extreme fluctuations at 11115.-N. II. Herald
Hlts morning.