New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1893-06-01

&
Total ! 900 ooO
| The widening tendency Of the gold efiiux Is shown
by the appearance OF firm In the list OF shippers
kessler 30. have not gold except perhaps once
this season, and that was months ago. or the Total
| amount $4,000 taken from the Sub Treasury,
the rest being contributed by the banks. Including
| the shipment made ON Tuesday tile exports for the
week already aggregate s5.OGOO 900. equal TO the
| amount sent abroad each week In the two previous
| weeks. The movement Of gold 10 Canads Is also
| assuming unusually large proportions There was
| xIOOCOO taken from the Sub-Treasury yesterday to
| BE- sent TO the Dominion making total OF *jOOOOO
| gent away In this direction so far this week.
| The weeks exports have already cut heavily into
the gold OF the National Treasury. BY yester'
| days Washington statement the Treasury was shown
to hold S05,9I24I9 gold and above outstanding
| certificates. This statement does not include Mon
days withdrawal OF $lOoo,OOO. The actual gold
held In the Tr,Tsury with the weeks shipments de-
ducted T. not probably more than SOL OO0c00. which IL
the lowest sum held since the 300 900 gold reserve
was shown TO DE- invaded by the Washington state
ment OF April -. In banking circles the conviction
j. reluctantly admitted that there Is no prospect Of
early cessation OF the gold exports 1t Is feared
| that the shipments saturday may amount 10
| 81. 100000 s2OJO,OO0 should these expectations
b. realized, this week will prove 10 Re The banner
| week OF the movement so far Bankers think that
the efux will continue at least through June unless
foreign exchange market Is almost bare Of CONNER.
| cia bills Even the large Increase In exports OF
merchandise reported week has not been reflected
| In any freer supply of mercantile drafts. All offer.
Ing, OF bankers, bills are readily absorbed by tho
demand for remittances account Of inspirations OF
good, and securities. Moreover, the gold movement
Is also believed to represent In addition Withdrawal
Of foreign capital inspired by doubt, 10 the National
finances and political uncertainties OF The future.
The foreign exchanges yesterday strong and the
decline In discount rates In London was promptly
eQuazed by advance iD the quotations OF sixty.
| day sterling bills here.
| Another unfortunate development OF the financial
situation this week has been the call Tor money from
| the Interior. The strain OF the monetary situation
| upon the country banks has led them to ask for
cash I'm numerous instances. The demand comes from
all parts OF country and Of the city banks
have already reached the limit OF their ability 10
|, grant accommodations The banks closely scru-
nizng the collateral offered by their country c0rro-
Spondents security for loans. Instances are SAID
TO be numerous where loans local enterprises have
been refused which In ordinary times would he es-
teemed GOOD security by the banks. The attitude Of
| the NewlOrk banks, which Is rendered imperative
from che necessity OF Safeguarding their own inter.
ests Will the strain back many OF the interior
banks which are idtted TO withstand II. One hank
president however, reported yesterday that he found
Increasing disposition upon the part Of his CORE
spOndenis endeavOr cope with the situation with
local resources. LhIu0atOn going ne IN
different localities without to aid from
New-l York. which was an encouraging sign mother
banker reported that siderable OF money had
been sent through York State from this city and
Vermont calling for funds on account OF the effect
OF The recent failure OF the Vermont investment and
Guarantee Company OF Orwell, VI.
The prospect OF call loan rates Is being discussed
I'm view Of the heavy drain OF gold and the possibility
Of resumption OF currency shipments to the interior.
Notwithstanding the extraordinary strngency In mer-
camille credits, the rates at the stock Exchange for
call loans have ruled extremely low. Large amounts
OF capital have been lent I'm this way because the
OWNERS feared 10 tie their money up for any length
Of time on account OF the general ds,rust By lend
Ing their money call Stock Exchange collateral
capitalists have IL within reach at any tine by means
OF sales OF the collateral II the loans called cannot
be- paid OH. But continuous drain of gold TO EUROPE
would render necessary some reduction even OF the
supplies OF money available TO the stock Exchanges
Rates on call Monday had spasmOdlc Jump TO b
per cent and Yesterday quotations Were harder at 30
per cent. against long standing rates OF Pa per cent
Desp!e the unfayorabl. feature OF the heavy ship
of gold the stock market yesterday was rallied
upon the short interest. Tile early dealings were IN.
settled and somewhat lower. owing 10 the announce
menl of a large brokerage failure In London. AMI the
selling Tor foreign account. But as the settlement
was completed In London without developing further
trouble IN. balls here took heart and In the late
trading they drove the bears 10 cover nd n.rt
nervousness, to IN. room shorts. The price first fell
from "a Ii SO Is. but the recovery subsequently,
carried values - 81 the closing being Al s3 IS,
a net gain Of q "a per cent Mondays final
price. American sugar Refining was taken IN HAND
and advanced from 80 b TO sea 80 80. The coal
stocks we're favOrably influenced by the advance
ordered I'm june prices Of anthracite and Delaware.
HschaSanna and Western moved up nearly per cent.
The other gains generally were fractional AMI last
prices IN all wer. not the best Of the day.
The market. however. was not without exceptional
weak spots. New York and New England was active
and was steadily pressed for sale from 26a 90 Is To
-, 10 II was rIImOred that the condition OF the
toaiing debt again engaging the serious attention
OF IN. directors. The repeated beaIish accounts from
IN. West as TO the financial complications Of the
IistllIng and Cattle Feeding Company carried the
mice after "A rally from Is "a TO II "a back TO Is.
Western Union ranged from 81 IA 10 81 rs, closing
1 4 per cent lower nj 3d. Reai.ng securities general
IL we're lower the general mortgage parTent bonds
CLOSING down IL per cent al 90 the hrst preferences
income bonds "a at 80 and the seconds falling
DER cent to ~. The third Incomes sold at Is L. but
rallied Il, IA net gain OF IL per cent. The stock
dropped from l70l7 Ia TO II 5-sd1612