The times. [volume] (Richmond, Va.) 1890-1903, 1895-08-28
cuops KEEP GOLD HERE.
The General Financial situat'"" '"""
signs Of improvements ...


BANKERS both I'm and out OF wall street
are rejoicing over the steadily aoo"''"
lating evidences OF Improvement III inc
general financial situation. Inc n'o's
ment of currency TO the South an" "
the West has begun III earnest az
1t promises to De particularly hea'S ''''
week
The local banks throughout the sra'n
and co,ton region arc making their
usual provisions for she accoiniio""-
ton of the crop-shippers, ana Tor tne
next few weeks the flow OF smah paP''
currency and silver Will be TOWARDS
the South and west. ms curIe"Ns
movement began last week. as was 0'c".
" indicated by the bank statement sa'-
urday. which showed that during INC
week the New York banks had pdtte'
with more than 100000 OF leSdl-'eh"''
notes. ..o
This dissemination OF currency !"
move the crops" Will naturally p'o"".'
an abundant and much-desircd supply
of commercial ,aper in the financial CEN
tres. and there will follow IN cohse-
auence such a reduction in the rates OF
foreign exchange as will operate against
further gold shipments. In fact. husl-
ness conditions yesterday caused "A reduc-
ton in the rates for sterling exchange
TO 4.S) and Lg0. and there were unnis-
taxable indications that with exchange
bills at 4S9 H. there would be no pront
in buying gold for export.
Hoskier. Wood & Co, withdrew Soo"J
in gold from the sub-treasury yesterday,
for shipment TO Europe to-day. Inc
firm explained that the gold was sent
abroad TO meet certain obligations, ana
they averred that they would gladly
Of ..efIa
could have got them at their own fig
ures. which were $50 IA. Although they
were unable to get 100000 demand ster-
ling for less than 49, -. the exchange
sold i'm smaller amounts during the day
at 4.S9 IL. Bankers feel confident that
as the supply OF commercial paper in
creases. the rate Of foreign exchange
will diminish
Much interest was aroused by the de-
posit of $1,000 In gold At the sub-Traas-
ury yesterday morning by The American
Exchange National Bank. AT first iu-
NOR insisted that the bank had come 10
the aid Of the Treasury gold reserve,
but such. n seems, was not the fact. m"
half million Of goll was deposited ior ac-,
count OF the bond syndicate, and II Will
remain in the Treasury vaults subject 10
the order Of the syndicates representa-
ties. The firm of j. !. Morgan ~ %
10 is well known, Is one OF me large dt
and Yesterdays gold transacu) IN was
treated by all parties concerned as a
private matter The gold reserve IN the
United States Treasury Is not yet DeloW
SiDo.rO.Or.
The syndicate tegan the payments yes
terdav 10 its members OF the remaining
% per cent. Of the money advanced 20
pay for the new issue of Governneh.
bonds. The payments, when Were no.
connnat 10 this city. were made IN new
legal tender certificates OF 5000 ea 1,LL
pavable 10 the order OF the rec eiver' Inc
aerrerats amount of the % per cent.
10 Doe thus distributed is believed 70 De
i'm the neighhorhood of Sl0'V@Vo. ,..,...,
While bank presidents We're indlNlduai-
~ ayerse 10 alking for publication, they
freely expressed their opinions IN pIlNat
conversation Yesterday. that the eNisuns
financial conditions pointed TO a SPECIFY
cessation OF gold shipments. They looS
for very large series Of shipments OF
currency 10 the crop regions this week.
The steamship Santiago when E broosbi
this port from Havana yesteraay, ,Drseit to
Si5O0 i'm gold coin which Is IN uanSit ~
Europe-New York Times.