Fairhaven herald. [volume] (Fairhaven, Wash.) 1890-????, 1891-06-25
A Shipment of Two and One
Half Millions BY New
York Bankers
The Rapid Advance in Silver
Exciting Interest on
Wall Street
Purchases of the White Metal
by the Government
Causes Speculation

New lonE, June ei-Contrary to the
early indications of the week another
! considerable lot Of gold VIII go out by
tomorrow's steamships The shippers are
Lazard Freres and the amount e. 5000
The shippers are unusually close
m0Hthed about this transaction aud show
sensltlyeness to public opinion on the
matter which Is, by no means, IN
grounded. In the present temper Of the
financial community gold shipments. with
a view to speculation In exchange. arc
likely TO bring upon their orignators
plenty of denunclallon. This gold does
not all go TO one locality and IL Is not.
according 10 the shippers. even to 20 by
single steamer. That some Of II will be
sent 20 London Is not denied, though
whcro there can be- any profit In such
transaction IL is difficult 10 understand.
II Paris Is actually nervous over the state
.of affairs in lts own market there may be
a reasonable explanation for special de-
mhnd from that quarter But the gold
reserve of that city is already In excellent
supply the Bank Of rance Itself now
holding nearly sGOOOO,OOD more than IL
reported az the opening Of the year.
The rapid advance Ia the price Of sill
yer bullion recently set Wall street a
thinking. The silver production aud
consumption are matters Of exact statis-
ties, SO any marked movement In the
white metal can always br ascfibcd To an
exact cause. On the 9TH Of this month
your cprfc' 'PoHdcni toli Of the operations
ul the Dig French pool In silver Today
10 was learned that while there were Ia
dicatlons that the first pool was liquldat-
ing Co some extent another pool. also
European, had begun tu work 10 the same
end, aud was ready 20 take hold whore The
hrst pool bad lcft 0A. The plan of cam
paigu seems 90 bee based ON the same lines
aS that Of the first pool. There seems Ia
bee no dunbt that the silver act Of July.
1870, has committed this government To AN
actito part in liver spccuiation by that
aci the government must purchase i5OO,-
W ounces OF sllver each month. ~ to
July !. 1880. 10 must coin 9.OO0UOO ounces
Of silver monthly After July I the coin
age becomes optional with the secretary
Of thc treasury.
a the present tine the governments
annual purchases ui silver 10 nll the re-
uulrrmouts of the silver net 81 lsgD upe
up % UUUlO ounces Of silver. Thl. conn
ty's production Of silver for 1880 was Ge.
Hb,~ii ounces. This leaves sOO.OpO ounces
for the total requirements Of the arts and
bll lhe export demand. 70 10 the passage
Ol the July bill this country alwnys eX-
uut lru annually from b,UDD,ODD 10 10 90 90
ounces The Mercantile Safe Deposlt
company Of New York reports on hand
90 J uuc 40, j.2iG11V ounces " silver. One
concern Us thought 20 own ut least 200. .-
900 ounces ol this amount Outside of
this supply there i- ln this country prob
ably about 2WD,OGD ounces pf silver bul-
lion al various points
a London dispatch give sensational
report that diiiicuitics had arisen between
Mr. Murlctta, head Of the banking house.
pt Muucttl a. Co. recently transformed
into limited liability company, aud the
trustees aud executors Of the new corpora
tiuu, owing To- the discovery that the la
bilitIcs represented 90 the trustees and
rArcuiDf oi The corporation. ft o. also
said that fresh liabilities have been In
Cured since the formation Of the limited
liability company which Will require the
further subscription Of nearly Si75.OOO In
order to avoid "a calamity. This state Of
affairs ls said 20 have caused Sir John
Pcudcr 90 resign his sent on the board OF
trustees with disgust after stormy meet
ing with the board. Later news II 10 the
effect that the money necessary for the
immediate requirements Of the company
Wa- raised among the stockholders thus
ailordiug the concern temporty relief