New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1893-05-03
MORE GOLD TO BE SHIPPED.
PROBABLY 100000 on SATURDAY.

CONDITION OF THE TREASURY-sToCKS STEAD
IER BUT MONEY MARKETS TIGHT
Much to the surprise Of bankers it was learned
late yesterday that arrangements were being made
for the shipment OF gold on Saturday. The German
steamer Aller yesterday took ont 100000 gold con
signed by Ludenburg. Thalmann a Co.. but this wa
sent on an old order. and as the specie was ALREADY
hand the shipment involved no new drain upon
the SubTreasury. 1t generally expected that
this lot would all the exports OF the week. ana
In some quarters the assertion was made thai the
Austrian Government had temporarily supplied It's
financial wants. thereby relieving the money market
OF demands from that for the time being II
Is now understood. however. 10 be- morally certain
that large shipment OF gold will be made on satur
day. The amount is estimated at least S-'oooOOo
and the engagement may reach $2jOOOoo
The foreign exchange market has been steadily
hardening for several days Posted rates Of sterling
81 sc 10 for sixty day and "a 50 IL for three.
day bills The actual business was done yesterday
within 3-40l cent OF the nominal quotations ana
tho tone of the market was strong. There l. a
scant supply OF commercial bills OF exchange and
the maturing OF sterling loans keeps up a constant
demand 10 cover every favorable opportunity. out
side Of the demand for mercantile rcmitanccs. The
market, however has not been active OF late and
many Observers thought that the demand had not
been Sufficient to warrant the sale of enough drafts
required against heavy export Of gold. But unless
OF the market 1t is the Intention shippers send
explained. from 100000 to 90. 100000
on Saturday.
Fortunately the Treasury's holdings of gold have
been reinforced within a week, and the renewal Of
gold exports may be viewed with loss nervousness
than a week ago. BY yesterdays Washington state
ment the gold balance had risen to 9o7,o11 $50
There have been frequent dispatches from Washing;
ton to the effect that the 81 100000 mark had been
reached again, but these assertions have not been
borne out on any single day by the official Treasury
statement since the gold balance April % fell
below $l0O. 100000 for the first time since the
sumption OF specie payments. All OF the gold Of
fercd 10 the Treasury by the banks in other cities
has been taken in. however, that 1t is possible
that the god bllence may BE- raised TO 100000 900
before renewed foreign demand for gold shall be felt
In view OF the financial situation. bankers discussed
with unusual interest the monthly public debt state
mcnt Just issued. According 10 that exhibit the
net available balance in the Treasury above all
obligations Is only SOL 4oo 9Oa. But included I'm This
amount are S11,ll6,578 subsidiary silver coir and
1921 In fractional COIN leaving only 80 $4,000
rs the actual working balance. There Is $l 27O607
In deposits in National banks included I'm the Treasury
assets, and this sum may rot be reduced materially
without inconvenience 10 Treasury operations. In
commenting upon these figures bankers yesterday
argued that the Treasury was in 10 condition TO
receive large amount of gold from the WORK
banks because II practically possessed nothing TO
give in exchange. Considerable curiosity has beer.
excited Gy the delay In the Treasury's acceptance
OF the gold offered by the Boston banks. 1t was
said yesterday that the public debt statement threw
hght the matter as the secretary OF the Treasury
had doubtless experienced difficulty in supplying
legal tenders for the exchange. The banks ~"
beginning TO complain OF the scarcity Of Government
currency of small denominations. The money mari"
continues to work closely and commercial paper Is
almost unstable the rate of discount asked boigg
high. To this strngencv is ascribrd part Of the
pressure Of securities upon the stock Exchange.
Many merchants, rather Than pay the eXorbi'ant
dscoun, rates asked dip into their strong boxes and
sell securities 10 raise needed funds. The demands
Of interior banls upon their NewYcrk c0rrcspoLen,s
continue heavy.
A less sensational stock market than Monday
witnessed at the Stock Exchange yesterday. The
total dealings were ss4,7l5 shares against 81 a3V
figures and in some Of the better class Of stocks
Ts ~1 sms fs s ""a %
tone Of speculation continued unsettled and tevcriSh
S M%ny on Of eS s s" Of &
for them in times Of monetary stringcncy The
h su spSFs rn, i y cS 'r sn Of sa
National Lead stocks exhimted more week.-mrs. than
hurry. Lead common opened al SO -. but steadily
declined to 33 as rallSing subsequently to "a 9-7
no news was developed to explain the decline, bu,
rumors that the comlanys operations were lncon-
venienced By the tight mOrey market on similar
allegations attacks were mair'oined against some Of
the other industrial shares. General Electric opened
up rs per cent at 96 but was sold down 10 90 La
81 6-S Natlopal Cordase advanced "a 10 - 81,
but then fell to 40 1880 American Sugar Refnlr;
started "a per cent higher at 80, but declined 10
SO 1-4d9715. American Cotton oil went 10 A.
rallied A. and closed at AZ IS. net loss of only
o-s per cert. Chicago Gas opened up. Ia per cent
az SO, gained another IA and then fell 10 80 81.
ending at ~ Ia. Manhattan Railway broke 3 Il
points to 139 10 on umors that the Rapid Transit
plafk would De rejected. The railway list generally
was more steady with unimportant net changes.