St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1892-11-26

as to what it means. Il now appears that
LaZaro Freezes is the customer for whom the
Fourth National withdrew the S6OJ,OO0 IN
gold Wednesday.
In this connection the status OF sterling
exchange has an interest. Sterling exchange
was very strong again today and the offer
ings of cotton and other bills were quickly
absorbed Cotton bills were in fairly good
supply, but not enough exchange is making
TO relieve the stringency. The gold
ordered by the Fourth National bank
from the subtreasury Wednesday was
for one of its clients, Lazard
Freeres. This is all entirely new de
parture Heretofore shippers have acted for
themselves but owing to the unfavorabe
criticisms made from time to time, it being
frequently asserted that private bankers were
friendly to bear operators Of gold. have de-
termined to employ BANKS in their exporting
operations hereafter. Up to noon today the
gold ordered Wednesday was still in the
vaults of the Fourth National bank.
1t is understood, although official informa-
ton is refused, that this shows loss OF
about 81 per thousand for the light weight
and additional brasion from shipments.
which, together with other expenses, make
cables cost S4SS.06 Gables sell AT SlSs, so
that there is no money i'll shipping today
Foreign bankers who have large remlttances
to make 10 Europe tomorrow sald To-Day that
the supply of bills was not large enough to
supply their needs. but thought they could
not Tell whether they could ship gold or not
until later in the day Some or the largest
Wall street houses were inGuirers Tor large
blocks of bills and before noon SLSIa4 was
bid for sight bills. Touching the god order
of Wednesday the Evening Post, in its tinan-
cial review this evening says:
1T will not be doing injustice to anybody
to say that the incident OF last Wednesday
gold withdrawal is looked upon with general
suspicion However plausible on their lace
may be the reasons assigned for IL today, the
fact remains that il was very unusual pro-
cedure conducted through very unusual
channels and SO limited as TO give very
peculiar advantage to SPECTATORS short Oh
the stock market. 1t may not OF course
have been the purpose OF "Wednesday trans
action 10 create this advantage, but the al
vantage was created, and II was zone III pre-,
cisely such way as bear operator would
have chosen. OF this there can be no qucs-
ton. The news of the 55oU,0O withdrawal
was withheld until the last half hour OF
business when rally IN prices
was naturally 10 be expected. 1t be
came known after the bear specuIa-
iturs had played high on the belief in regular
orders for export gold, and had been dIsap-
pointed i'll their expectation. 1t was gwen
out i'll the stock exchange III such snaps as 10
suggest the inference that its immediate eX-
port was intended whereas today eXplana-
lions protest that the gold was ordered solely
for the purpose of testing its intrinsic value.
This was certainly singular method OF
seeking knowledge. Regular dealers in ex-
port gold contented themselves with sam
pling for this purpose few specimen CONS
furnished by the subtreasury. Mhat lhe
bunk which gave last Wednesdays order
wanted with specimens which amounted to
S6o1,C0l is couundrum which its officers
cannot be too prompt i'll answering"
The steamship Saale, sailing for Europe
tomorrow takes out 225,000 ounces OF silver
and AS, 0G0 Mex lean dollars.