The Providence news. (Providence [R.I.]) 1891-1906, 1893-04-25
THE SCARCITY OF Gold.
Treasurer Jordan COnferS With PFoml-
nent Bankers.
THE PROCEEDINGS ARE In SECRET.
The Bankers are Coming TO the Rescue
of the Government-Ths situation In
Australia = boston Clearing House
virginia and Other Places Help.

NEW YORK, April 25. "A protracted
conference was held yesterday at the sub
treasury between Assistant United States
Treasurer Jordan and . number Of prom
inent bank presidents. Among Mr.. Jor-
dams visitors were Brayton Ives, president
of the Western National bank; j. Edward
Simmons of the Fourth National bank,
Henry w. Cannon Of the Chase National
bank, George S. Coe of the American Ex-
change National bank, and exUnited
States Treasurer Charles j. Canda, ex-
Secretary Bairchild, Mr. Chaplin Of the
Third Nstional bank, Mr.. Speyer of Speyer
& Co., and j. A. Wright of Drexel, Nor
gan & Co. None of the bankers would
divulse the nature OF the conference. they
saying that it had been agreed that any
news given out must come from Treasurer
Jordan 1t was stated, however, by peo-
pie well posted that Nh Jordan has sub
Definite Proposition.
which was in part that tho New York
bankers help the government out Of its
dilemma. This report was strengthened
by the action of the Boston Clearing
House association In turning over "a, ,50O,- :
600.
Orders were received at the sub treasury
for SS50,000 additional gold for today's
steamer Kuhn, Loeb g. Co. took $500, ,0c0
and Heidelbach, Eckleheimer g. Co. took
the rem ainder.
sidering the advisability of resuming Civ
ing gold bullion on orders for export. The
practice was discontinued within the last
fxvr hac hnt, oh hat 4
gold coin was handed out the demand for
gold for export would be discouraged some
what, as banking houses prefer the bullion.
As every one knows gold shipments have
Increased and Not Decreased
since the order was issued. The amount
of gold bullion, mostly in bars. held by
the government at the present time
amounts to about $79,O00,000, of which
as, ,000, 600 is stored In the vaults of the
New York assay Office. A large proportion
of the remainder is at the Philadelphia
and San Francisco mints.
As result Of the conference commun-
ication will undoubtedly be addressed to
Washington. 1t was generally supposed
that an arrangement would be made by
which the bankers will turn about $l5,-
000.0 into the treasury.
According to Chicago special President
Mitchell of the Illinois Trust and Savings
bank says: 1--WE have given the govern
ment 81 ,5OO,0 900 gold in the past few weeks,
and will
Continue tn Exchange Gold
for the governments paper obligations of
any kind. We will send more gold today.
We haven't the slightest fear that gold
will go to premium
Another banker says that the Chicago
banks have $40, ,o00, 600 OF gold, and the ex
ample Of the Illinois Trust and Savings
bank is likely TO be generally adopted. 1t
Is reported in Chicago banking circles that
Canadian banks In Chicago are loading up
with high-priced bills Of exchange, which
they are now trying to sell. These bills
were bought when they thought gold
would go to premium.
A startling rumor to the effect that
there was concerted movement on the
part of gold shippers and operators to
make
Demand on the Treasury
some time between now and Wednesday
for e20,O00, 600 of gold gained currency
yesterday, and it was surmised that the
protracted conference was due to a discus
sion Of this question. There Is about $Ss,-
100000 In cash in the sub-treasury which
will have to be counted, and the work will
not be completed within three weeks
Some Of the principal items are, in round
numbers: United States treasury notes,
s14,500, 900; gold coin, t24, IA, 900; gold GER
tifcates, 81, ,e9o. 900; standard silver dollars,