New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1893-01-21
A BIG GOLD SHIPMENT.
LA CHAMPAGNE TO TAKE OUT sa,25oooo.
THE SAILING OF TIE STEAMSHIP TO BE DE-
LAYED WHILE THE COIN IS BEING
COUNTED AN) DELIVERED.

THE SAILING OF TIE STEAMSHIP TO BE DE-
LAYED WHILE THE COIN is BEING
COUNTED AN) DELIVERED.
Unusual Interest attaches to the shipment Of gold
BY the French steamer La Champagne today II
Is large sum TO 90 on one vessel, although not
unprecedented and the trouble thrown upon the bank
ing houses in gathering the coin for the purpose has
excited much talk in Wall Street. on Thursday II was
announced that about S;',000,000 gold would be
sent saturday. and the shippers expected to get
the coin from the sub Treasury. But the death of
cxPresldent HAYES n,crfcrcd with the regular pro
gramme, II being announced at o'clock Thursday
that the Sub Treasury would be closed The following
day on account OF the funeral. II Is the custom OF
the public departments TO be closed on such occ;'-
sions bu, the fact overlooked by the banking
houseS that had oNcis 10 ship the metal.
There was no alteration OF the intentions OF the
shippers by the unexpected complication. But
there a lively "hu,tling7 TO get matters In shape
10 permit the exports. careful canvass OF the
banks resulted in the scrapng together OF about
81 100000 Of gold. The banks generally carry their
gold supply in the form of gold certificates which
are cashed al the Sub-1rcasury whenever the coin
is needed. Few Of the institutions hold the actual
metal In their vaults. The foreign honscs however,
able TO 100000 in gold from the Ch"m
cal Bank. and 500 900 each from the Hanover and
City banks. As the orders to ship gold Ilad O'eh
increased this left about $30O0O00 TO be provided
were able TO supply 100000, which they had re-
ccived from their CORES pondens In san Francisco
This left a. 100000 be taken from the SubTreasuv
this morning. counted. packed and placed In La
Champagne by l p. m. The physical difficulties In
the way Of getting this done worried the shippers,
who made appeal 10 the agent of the French line
TO post pone the hour of sailing.
Here arose the question of detention of the malls
and the French cOmpanys agents forced TO
consult with Postmaster Van Colt 1t was finally
announced that the steamer would not sail until
!, as p. H. thus giving about two hours Of additional
time for the carting away and counting Of the In
tended consignment. There be rusD to the
counters OF The sub Treasury this morning the like
Of which might he imagined In the predictions
Of the stock market bears TO the scenes at
the Sub-Treasury the first day Of specie resump-
ton had been verified
The passengers La Champagne who may to-
day await impatienty the sailing of the vessel may
comfort themselves with the thOue 4 that they Will
take with them of the biggest sums of American
gold ever put upon steamer TO satiatc tie demand
VI Europe for the yellow coE.
The actual shipments arranged for the French
steamer are 5 follows: Lazard Freres. 1900. 600;
Ileidelbsch Ickelheimer d Co. Sl,ooO,ooo; Laden
burg Thalmann d Co., S76O.OOO; August Belmont q
Co., s5Oo.oOO; Hoslder Livingston a Co.. 100000;
a total Of s4,25O.0OO There will probably be larger
shipments in the coin can be secured Ia tune from
sldered possible In well Informed Wall Street circles
The demand for this gold seems TO arise from Ulc
floating OF a gold loan by the Austrian Empire
rendered necessary for the carrying ont OF its plans
resumption OF gold payments. the Bank Of France
l. understood To be facilitating the loan. The BANK
recently obtained authority from the Chamber Of
Deputies To increase Its note issue sJOoOOO francs
10 1000 100000 francs. The enlarged note calls ior
an Increase gold reserve. which last week was re-
duced nearly 1l7.OOO,O 900 francs owing TO the ex-
haustion OF the note issuing power OF the bank which
compelled that institution to pay out gold 1t is
expected in banking circles that the Bank Of France
will continue 10 draw great deal Of gold from this
country for time. unless the foreign exchange
market should be Unexpectedly supplied with numerous
commercial security bills.