Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1893-04-22
The Upper Crust Of the Reserve Re-
moved from the Treasury,
NO DISASTER ANTICIPATED.
Rumors OF Further Large Shipments.
10 Investigate the Territories.
booth Worse.


in the treasury sis5,O0 in free gold.
This amount was increased by gold
offers from the West aggregating about
81. 900. Large Withdrawals OF gold
for shipment from New York cut this
down to such an extent that when the
cabinet met, Secretary Carlisle found
that the orders for gold up to that
time (about 1 o'clock) had wiped out
the free gold and invaded the gold re-
serve to the extent OF 81, 557. 900.
30 FAR as II eau be officially ascer-
tanned, this amount was taken out OF
the gold reserve today for export to.
morrow, although it IL unofficial
stated that s7OO,0 In gold, exclusive
Of that taken out ut New York, was
Withdrawn from ths sub-treasury at
Boston for export 10 Canada. II so this
would make about s7,500,0O0 In gold
taken out Of the country for shipment
tomorrow, and leave tho gold reserve
invaded TO tho extent Of s3,000,OO0, or
leave the total gold In the treasury at
$05, 100000 II liz believed this Invasion
Ia but temporary, aud that within n
few days the depleted reserve will be
restored to It's original figure, 500, 0OO,-
600.
IL can be stated with posltivoness
that there 10 no disagreement on the
financial situation between tho PTesi.
dent anu Secretary Carlisle, or among
the members OF the cabinet. At the
cabinet meeting this morning, at
which nll the members OF the cabinet
were present with the exception OF
Secretary Herbert OF the navy depart
ment, the financial situation, 1t ~
Understood, was almost tho exclusive
topic OF discussion. The meeting was
the longest session OF the cabinet since
the new administration came into
power.
WONDER TO WALL STREET.
New York, April 2i.-The upper
crust OF the gold reserve has been re-.
moved. The financial world stood by
AMI witnessed the doing VI It, and YET,
tonight In this financial center, no
quakings of the earth are felt and the
iolks VINO arc the most Interested are
wondering why there has been no
crash OF worlds nor wreck OF spheres.
The engagements OF gold for export
from here In steamers sailing tomor-
row aud ON Tuesday amount to lilo.
600, from Boston s55O,000. Because OF
the statements OF ambiguity on the
stock market, accumulating "bulI
rumors" from Washington diverted
practically ali the attention from the
secretary's circular, but the sterling
exchange market opened In utter con-
fusion. A conflicting and very un.
usual occurrence, was the scare among
regular rem tiers against foreign de-
mand fot ttorling bills, this time pro.
ceeding from bankers doubtful about
gold payment for treasury notes and
anxious TO anticipate their payments
no heavy as TO force sterling rates to
the highest figure reached since the
panic OF 1854.
In the midtt Of this turmoil foreign
lenders Of money called In numerous
loans anu these notes being drawn
with gold cash payment In specie In at
least one case was demanded and
obligated. Not unnaturally the call
money market frightened under the
withdrawal.
The teasury notes presented Mt the
suhtreasury were promptly redeemed
In gold. There was, moreover, u clear
statement In several quarters OF
vexed gold clause la time notes. The
older trust companies aud many banks
which to some extent nre lenders on
time, made positive statements today
that they were making no stlpula-
ton OF gold payment. Foreign bank
ers with one or two trust companies
are steadily inserting the clause and
are resisted by borrowers. borrowers
on call today were able to secure nc.
commodation. Early in the day 8 to q
per cent. was asked but those who de.
iayed supplying their wants were
forced TO pay 2 to II per cent. Posted
rates for sterling exchange raised to
SASS! anu 81 0O4 and with little dis
position to draw. The situation i'm.
proved late In the day. Money was in
better supply toward the close and
loaned as low IA per cent.
According to the sub.treasury the
net loss OF gold TO the treasury today
wns 81, 100000, OF which all but 500.
900 was for export. Secretary Carlisle
estimated this morning that he had
$780, tree gold In the treasury. He
received little today from sources out
SIDE Of New YORK. and the treasury
Tree gold Is oil gone, and the sl0O, 00O,-
900 reserve reduced to SS6, SS5, 200.
This IL the frat time since the resump.
ton Of specie payments that tho re-
serve has been cut into, counting In
subsidiary coin IA part Of the available
funds Of the treasury.
Just before the sub.treasuTy closed
this afternoon, 1t was reported that
the officials were notified OF u demand
10 be made tomorrow for four millions
OF gold for shipment Tuesday, aud
there was an additional report, not
verified, that two millions more was to
be taken Monday.
W late 1t has been favorite super
sti,ion that II the reserve dropped
below the result might be disastrous,
not only to values, but also TO the mer-
camille community. The fact that the
shock has been comparatively slight
has caused au easier feeling about the
future, although there would doubt
less not be any surprise II movements
In stocks, as well rs In the money and
sterling exchange markets, were or.
rattle for some time.
Manager Shorer OF the clearing
house today said with regard to the
GOLD situation;
al do not think any action ia neces,
ssry, rs no artificial restriction that
could be placed upon tho export OF
gold would mend mat t3s In the least,
or check the outflow. We are simply
coming TO n silver basis Ia the natural
oourse OF events, and II the present
mode OF financiering continues, we
Will BOOu have no gold In tha cou "A y .