Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1890-06-22

stock. Boston people have been among the
good buyers of these securities, and while tnelr
information seems to be of such an early char
acter. IL combines value and good staying
power which yields large profits in the long
pull.
The Boston Exchange is the favorite place
upon which the promoters Of valuable New
England land companies have listed their
stocks. many OF which have shown gradual
and steady improvement, and they become
favorite with the investing and specializing
public. We are advised that new company
organized under the laws the State Of Maine
and called the Gouldsboro Land Improvement
Company, Is likely to be added to the number
in the near future. This company owns very
valuable property embracing over [, 900 acres Of
land directly opposite Bar Harbor, Me-, and q
number of prominent people In Boston, New
York and PhiladelPhia have already acquired
valuable building sites there, and are about
erecting handsome cottages. The managemene
embraces some well-known men, and we should
look to see this stock record gradual ad-
vancement after it is once listed and brought
to the attention Of investors.
The Post says: The exports Of gold under
the existing conditions Of the exchange mar
kets continue to excite unusual interest," and
nave given rise to some wild stories, one OF
which Is to the effect that the German Gov
ernment was practically buying gold, and an
other being that it was accumulsting gold IN
view OF some contemplated occupation OF
Africa. etc. After inquiry into various quar-
ters where there would certainly be some
knowledge of these things, If there was any
foundation for the reports, we are CONVINCED
that the stories are without foundation. But
the destination of the $50 900 of gold taken
yesterday for export throws some light on the
situation in the fact that this gold goes to Paris
ducement now to make further shipments to
Berlin. 1t is possible that the whole OF
this movement of gold Is explainable by the
higher rates of interest which have prevailed
in Germany and France and in fact the whole
OF the continent, than in London. In Berlin,
the bank rate of discount has been per cent
higher than the Bank of England rate for over
month past. and the rates in the open market
nave been from N to per cent higher than
those Id London until Thursday, when the
rates In the open market in London were ad-
Vanced in consequence Of the continued higher
rates IN Berlin. The rates in Paris have also
been almost as much above those OF London.
In short, money has been tight all over the
continent, while it was easy in London. Ih1s,
ment securities by the continent to London,
put would cause the movement OF other capital
from London to the continent for the sake OF
the higher rates of interest This may explain
through London, for a week or SO. up to last
Tuesday, since which time there
has been very little and on the
contrary, London has been taking some securi-
ties back. Exports of gold from here are not
unusual at this time in the year, but they are
unusual when the New York rates OF exchange
on London do not show pront on the sales OF
the bills here. The shippers OF gold now to
Berlin and Paris of course sell their bills on
those cities in London. and so make a small
profit. II the whole movement Of gold in the
last week is explainable by the difference in
rates of interest for money, without any extra
ordinary events 1t will also be remembered
that money has been closer than usual this
summer and has helped to keep down the rates
for sterling, operating TO some extent in the
same way on the London market as Berlin and
Paris. All have been doing on London capital,
because capital was SO much cheaper there
than anywhere else. Now that money has be-
como easier here. it goes in gold to London for
the continent
The following table SHOWS the prices or active
stocks on the New ork Stock Exchange yester-
day. Corrected daily for The DISPATCH by
WHITNEY q STEPHENSON, oldest Pfttsburg mem
bers of New FORK Stock Exchange, 81 Fourth ave-
nue.;