Weekly commercial herald. (Vicksburg, Miss.) 1884-18??, 1885-12-25

NEW YORK. Dec. 23.-The recent
change in the price Of sterling x
change and the consequent shipment
Of gold to Europe, Is thus commented
upon by the Herald: among the
reasons for the advance are the par
alysis Of the grain and cotton exports,
and the advance of bank rate of
interest In London, and also the return
OF American railroad bonds, to some
extent, induced by an apprehension to
spring from the death of Mr.. Wander
bilt; nor is it by any means clear that
yesterdays movement was not pro-
NOTED by considerable speculative
purchases of foreign exchange for the
direct purpose of disturbing the stock
market, but to underlying all these.
TIE most efficient cause of the rise was
the growing fear Of the approach of a
collapse of our national currency to 80
cents, silver dollar standard, and the
consequent haste of capitalists who
seek the investment are sure to escape
the shrinkage.
The Tribune says "The advance in
sterling exchange has a meaning,
which should not be missed by law
makers. Gold is wanted abroad,
while those who have it here are anX-
ious least they may find it has turned
to silver. The owner of a large
amount of gold takes a great risk if
he burieS it in the ground or locks 1t
up in the house. But ii owners lend
it or deposit it in banks they don't
know whether the borrower or bank
may not be enabled legally or even
compelled to pay in silver dollars or
not at all hence some are transferring
their gold to England. There they
feel sure that a loan or deposit of gold
means payments of gold and not 80
cent dollars. That is what Wall street
bankers NEAR when they say sterling
exchange has advanced because of
demand for bills which is mainly for
investment. Early last year pmany
bought sterling exchange or sent
gold abroad, and among them were
some of the most sagacious democratic
capitalist. 1t is no longer a secret
that Mr.. Tilden sent a large amount
abroad. In commercial circles, when
the money was afterwards returned, it
was said that the amount was fully
100000. We have money enough
in this country, but it is not wise to
make holders of 5000, 900, 900 of that
money, and the best part Of it so dis
trusttul that they prefer to lend or
lodge it in England rather than here"
The Worlds Washington special
says: Treasurer Jordon said that, in
his opinion, the reason gold was going
abroad vas that American exports
were much lighter than usual at this
season of the year. 'Gold,' he said, rs
now the shipping basis when the rate OF
exchange should be the lowest. This
is due to the unusually light exports
than foreign holders of American Sc
cureties may be realizing, and that
would take a good deal of gold from
our shores. These foreign investors
bought our securities at very low fig,
ures, and it may be that they have con-
cluded this is the time to realize"
The bookmakers, who were swindled
last Saturday, think they now know
the guilty young men. Investigation
measures are still pressing, both on
the part Of the telegraph company and
the 0ookmakerS. The latter are de-
termined to avoid a REPETITION of the
scheme. Hereafter all race news is to
be communicated in cipher, and as a
further precaution the books will be
closed half an hour before the horses
start. This will prevent any one from
profting by OBTAINING reports.
Charles Clean, James McAllister and
Thomas Wallace, the eldest barely II
years Of age, were for a time, en-
ployed as messengers by the Western
Union Telegraph Company. They took
advantage of their positions to become
acquainted with TIE interior of a large
number of houses, and when their
stock of knowledge in this direction
became large enough, they quit the
service of the telegraph company and
became sneak thieves. The result is
they are under arrest. They entered
a large number of houses, chiefly fats,
and school houses, and carried off
clothing and such articles as they could
get hold off. Gleason, when arrested
had ffty-two pawn tickets in his
possession. The detectives found
G~leason's parents drunk. and the
father threatening to brain the officer
with an ak if he entered the house.
Frank Barrett, of Norfolk, Va, and
John Gillen. of this city, last night
opened oysters for 5000 a side. Bar
rett was to open $500, while Gillen
opened 1890. The closing record was
Gillen 1890 in two hours, eighteen
minutes, nineteen and a half seconds;
Barrett $500 in two hours, twenty
three minutes and twenty-three and
three fourths seconds.
Joseph Walsh, went into the
Brooklyn sugar refinery yesterday
. afternoon, and while looking at some
machinery, fell backward into one Of
the circular cutting mills and was
chopped to pieces. The machinery
: was stopped, and the remains of the
Yoeo,tunoto mon I'm ond ra.