Eagle River review. [volume] (Eagle River, Wis.) 1890-1927, 1893-08-03
RESERVE CREEPING UP.
Treasury officials Consider the flnanc'a'
Situation Greatly Improved.


WASHINGTON, D. c., July 2s.-The
large orders said to have been gwen oy
New York financial houses for goio
abroad to be imported into this coun-
try are regarded at the Treas
urv Department as favorable
symptom of returning confidence
Much of this gold now coming
here is the same gold that was
exported several months ago. The
heavy shipment of American cereals
abroad within the past two months mas
materially reduced the balance OF trade
against us. In such circumstances 1t
will be natural for the United States to
continue to receive gold from abroad.
Gold in considerable quantities is also
coming here from the West Indies. This
Spanish gold, on reaching our shores,
finds it's way to the assay offices and is
melted up into bars and the Euro
pean gold soon finds Judgment in
the United States treasury. FROM
present indications the gold IN
the treasury s1nn do od therefore Wl to sGon
So sec. 900. When the 500, 900, 900 mark
is passed the treasury will again re-
sumo the issuance of gold certificates,
which by law had to be suspended
when the treasury gold was reduced be-
low 500, 100000. The gold certificates
now outstanding aggregate $S9,-
100000, which is an unusually
small quantity for the treasury
to have. The department, however,
shows little or no interest whether the
gold is $1,OOO,OOO or $75,0OO,000, as it is
the policy of Secretary Carlisle to use
the gold on hand the same as he does
currency in meeting the obligations Of
the treasury. So for several months
past the gold reserve has been treated
as available cash. On this basis the
available cash in the treasury to-day is
1922, 100000.
NEW YORK, July 28.-The clearing
house committee has issued 100000
worth Of clearing house certificates up
to II o'clock to-day. This raises the
total outstanding to $25, 100000.
Inquiry among the big banking
houses this morning shows that the re-
port given out last night relative to gold
imports were somewhat overestimated.
not not import sHAns million nil 'ne Of gold Uti
this week as reported, but may
engage some next week if rates Of
exchange are favorable. DreXel, Nor
gan & Co. deny positively that they
have engaged dollars worth Of gold,
and have none coming outside of a few
small lots which were purchased several
days ago and were on the way
home before the present agita-
ton began: Ladenburgh, Thalmann
q Co. and Kuhn, Loeb & Co.,
say that they have not engaged any gold
for import. tits possible, however, that
the latter firm may engage a million of
gold before the day is over. It is said
that the firm received calls this morning
warranting the above statement.
This leaves the positive engage
ments Of gold at 100000 for
Lazard Freres and 100000 for Won
Hoffman & Co., 81 900, 600 less than was
generally understood last night. At the
banks it was stated that up to II o'clock
the calls for currency from the West
aggregated about $500, O00 Heidelbach,
Ickelheimer & Co. announced that they
have just been notified of shipment to
them Of 100000 Of gold by the Umbria
sailing tomorrow. This makes 81 ,7OO,-
600 engaged for to- morrow.