New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1894-03-03
GOLD EXPORTS START AGAIN
\ SHIPMENT OF $l.25OOOO TO BE MADE
TODAY
coryCIDENT WITH THE PASSAGE OF TIE
BLAND BrLr,-A CHECK TO STOCK sPEcc-
rAr1oN-puN.s REVIEW ON TRADE
FEATURES.

FEATURES.
The temper Of Wall Street was changed yester-
1ov bv the announcement Of the engagement
Of round lot Of gold for export as foreshadoWed
IN The Tribune Another influence Of Importance
yas the news Of the action Of the House Oh
Representatives in passing the Bland Selsnorage
Coinage bill! Possibly there was reahzauoh
bv ,ome of the enthusiastic buyers OF STOCKS on
Thursday that even If the Wilson Dill nad Deeh
'scntched" by the disagreement in the senate
Democratic caucus It had not been killed. Inc
stock market opened firm in tone, except for
selling pressure I'm American Sugar refining ana
then sold or the weakness increasing toward
the close The stock OF the Sugar Company fell
about per cent, and other prominent industrial
sha .es declined over per cent The leading
Granger stocks dropped 1N1l; per cent. and there
wer, material declines in other directions
The gold shipment will amount to sL25OooO'
and II will be made by Lazard Frcres, on the
French steamer La Bourgogne. sailing to-day.
At he office Of Lazard .Freres 1t was said that
the shipment was not insgated by the passage
Of the Bland bill nor hal It any connection with
the recent transactions in foreign exchange by
which gold was brought from France to New
YORK for shipment to Cuba in payment Of pur-
cha,os II raw sugar Lazard Freres say that
the gold IS sent abroad on a purely commercial
basis. payments being demanded which could
not be met by purchases Of exchange bills.
Bankers are unwilling q predict the probable
extent % gold exports now that the movement
has begun.
\ dispatch from Washington says that the
Treasury Department expects further eXporta-
ton IF gold # the present rate Of exchange is
maintained. Many persons yesterday expressed
doubt that the shipment arranged for to-day
would Doe made If {, had not been for the triumph
of tie silver nnatonists in the House Of Repre-
natives. Washington dispatches agree in pre-
dieting the passage Of the Bland bill by the
Senate but Il IS believed that the President will
veto The. bill In spite Of this reliance upon the
s,uud-m money principles Of Mr. Cleveland. II Is
feared that the effect ~ the ac.i)n II the House
Of representatives. will not be favorable ABROAD.
As the member of one prominent bull com.
mi .0n house at Wall and Broad Sts phraSed
tho situation: 1T Will not be easy Tor Europeans
% f1uster courage q buy American securities
when only one life stands in the way 81 such
dani;crous and ridiculous legislation Credit Is
sensitive AMI the action Of the House may have
an important influence with foreign capital
BILLS OF EXCHANGE SCARCE.
In foreign exchange circles ct IS recognized that
the attitude Of foreign holders Of American
securities will probably determine the extent Of
future exports Of gold The scarcity Of bills OF
| excl ange is So great that any increased demand
for remittance must send the precious metal
! abro al in spite Of the favorable trade balance
ON merchandise account. The gold 10 be shipped
| today comes from the Fourth National BANK
/ not from the Sub-Trea'uiy But bankers p"int
out that I'm the end the banks which ship gold
will rccoup themselves from the National lreAS-
urv iu tha ordinary course Of business and II the
| export movement should become large. the pos
! sibiliiy of silver imitation as proposed by me
! Bland sclgnorage bill Will doubtless lead the
banks To- refuse to surrender their gold when IL
may be obtained from the Government on IFS
! paper obligations.
| ment Yesterday was the character OF the report
! Of January earnings by the Chicago. Burlington
! and Quincy. The decrease In gross revenues Oh
! Sl53ll was overcome by reduction OF Sfof'-
! 7s2 n operating expenses leaving net gain OF
| $494u The first charges We're reported as show
ing 4 decrease Of So $50. resulting In an Increase
| I'm surplus Of $72.35l. But there was an innova-
! tion i'm the statement by deduction Of income
| iron, treasury assets in estimating the hXed
| change in the general business situation me
I n,nr THY proportion of charges has been placed
NJ S,3o 600 but I'm yesterdays exhibit the amount
| il estimated at $4,000 There was much com
rlaiot Yesterday that the cOmpanys statement
could not be- understood as a complete showing
of Januarys financial results.
LARGE WITHDRAWALS OF SAVINGS.
TIL. business failures reported To r. q. Dun
&. Co for the week numbered 26l in the United
States and AZ in Canada, total OF "O3' against
939 ast week and 25l in the corresponding week
Of 1898 "Duns Review" notes no important
change in the general business situation The
| for medium or low-priccd woollen ana COTTON
| goods Tor 81 80 and not IS boots, ana Tor SHOES
! rather than boots" Ii is said that some sales
| mon and traders lind indications that stocks Oh
! the higher priced goods remaining IN hahu are
| much larger than usual and bankers Judge that
| much of the demand for commercial loans ~
| virtually for renewals To carry such uhsolu
! strcks Continued weakness appears In prices
| of metal products, notwithstanding some increase
! I'm actual business The decrease in douestc
nDl ole
| nor cont for the week. THE Review says
that the Withdrawals Of deposits from new
| York savings banks OF late nave been uhusuallS
! large and these banks nave seherauS IaIao"
! thcir ro f. of interest to per cent. The Sltua-
ton is summarized in the following paragraph
with no more definite information than a
week ago regarding the outcome OF hnanciai
or revenue disputes, perhaps more people nave
come To the belief that the end Will answer thelr
| wishes Certainly rather more are taking nm
tied risks In business, especially IN StockS' II 10
| usually a good plan for practical men To rely
| llttl, on Impressions which are asslduously tos-
tered in speculative circles, where people rarely
labor to lit prices OF Things they want 10 puy
\ more substantial basis Ia the slowly growing
demand for goods caused by gradual eXhaus-
ton Of stocks held by dealers, and this mas
further enlarged the working force IN manu-
features The fall ~ silver To 27Ad., and be-
low 60 cents here, and after slight recovery us
renewed weakness. have an unfavorabe iniiu.
encc on some markets the announcement !.
that import duties are To be imposed by lndia, II
confirmed may increase the difficulty. The pas
sag, of the segniorage bill by the House late
! on thursday has not had time To produce much
effect, but Is not financially reassurlng."
LI;VYING ON AN INSURANCE COMPANY.
The Sheriff has levied on the New-York Office, al
No. i2O Broadway. OF the Columbian fire Insurance
Company of America whose home Office Is al
Lou svie, KY. under several attachments chieil,
FOR unpaid fire losses in this city. The aitach
ments were granted on the ground or II being
foreign corporation, and aggregate S.5S Wher
the Sheriff levied on the furniture. maps, etc, !