New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1895-11-23
MORE GOLD GOING ABROAD.
STEAMERS FOR EUROPE TO-DAY WILL
TAKE s4SOO,O0O
THE RESERVE REDUCED TO $50 300 ooo-No PREP
ARATIoNs FOR A BOND ISSUE AT THE
TREAsrRY-REAsoNs ASSIGNED FOR
THE OUTWARD MOVEMENT

THE OUTWARD MOVEMENT
Washington Nov. 22.-The Treasury Depart
ment informed early this morning that
s5.0OO.o00 in gold had been engaged for export to
Europe on Saturday. Secretary Carlisle carried
the Information the White House when he
went over at IL o'clock to attend the usual Friday
Cabinet meeting. Late this afternoon. however,
Secretary Carlisle informed that the actual
gold Withdrawals at New-York to-day
A.lo0,oO0. With the 100000 taken Thursday.
this will make the gold exports tomorrow A,
100000. With these Withdrawals the Treasury
gold reserve stands at the close of business to-
day at $50, 300. .0OO
1t was said at the Treasury that no prepara-
tions were in progress for another bond issue and
If the expressions of high officials can be taken
as an index. such issue is contemplated in the
near future.
Various causes assigned by Treasury Of
fcials for the heavy gold exports at this time
Chief among them are the collapse Of the Kahr
mining boom in South Africa and the conse-
Quent dragging down of large houses engaged in
this class Of speculation. The Eastern troubles
have also caused weakness on the exchanges In
Paris. Berlin. Frankfort and London. leaving the
New-York market the only financial centre where
stocks and bonds could be sold without great
sacrifice As a result of realization on American
securities held abroad to make good losses sus-
tained in speculation in South Africa. gold has to
be shipped to meet such sales. Other reasons
assigned are the small exports Of cotton and the
large imports of foreign goods together with the
further fact, recognized the world over that goid
Is more readily obtained from the Treasury OF the
United States than from that Of any other nation
Several times In the last few years the treasury
gold has been at much lower hgure
than II is now. on January 81. 1894 just before
the first bond issue Of s5OOoOOOO 1t fell to so2-
650l75. and even after that gold was put INTO the
reserve sending II ND 20 $l01 $780, 900 March 10.
II fell August 10 to s52 4997S. Just before the
second bond issue was made the reserve stood at
$50 900 600 With the gold received from this sec
ond $50 600 600 of bonds the reserve on December
10 stood at slO6S2l42s From this 1t fell gradually
10 Sal. 32i2 on February 9: 1895. when the third
bond issue this time for s62. 100000. was made.
AS q result Of this issue the gold reserve on June
% stood at $4,000. from which figure it has
continued to decline as the result of Withdrawals
for export. to to-day's figures.
One effect Of the heavy gold withdrawals at
New-York this week has been to reduce the gold
shout $4,000 600 and to depiete the stock of gold
coin at the New-York Sub-Treasury SO seriously
that coin from several Western Sub-Treasurles
and from the United States Mint at Philadelphia
has had TO be shipped to New-York to replensn
the stock.
The gold shipments to-day will be 81 .coo.ooO by
Raring Magoun & Co.: w. H. Crossman Brother,
slOcoco $4,000 by Lazard Freres; $4,000 by Held
elbach Icke.heimer G. Co; $4,000 by Muller. Schall
g. Co $4,000 by L. Won Hoffman g. Co. and $4,000
by Handy X Hdrmdn, all III DdIs .Oeat ~ $fO'''7
COO This is a total for the week of S735o'o0
These shipments have produced the conviction IN
Wall Street that the $75,VD0,OoJ mark contemplated
in the Treasury Departments recent negotiations
with the leading banking houses of this city Is
prominent bank president SAID Of the situation
Yesterday: Matters are rapidly drifting 10 new
Issue of bonds. At the present rate the next week
or ten days will bring us face TO face with the
s75 OoO 900 limit Whether the Administration VIII
await the assembling of CONGRESS to deal win & the
Condtions or will issue S25 100000 In bonds is merely
a matter OF conjecture The bonds would be red9iy 6 M
taken. The banks here could command soS'VenW" e'
,n gold. We waiting 20 hear iurther from
1VoS