The evening world., 1895-09-14
COLD DRAIN
CAUSES WORRY.
The Yellow Metal Reserve
Has Again Begun 10
DVindle Away.
s4,550,000 SAILS TO-DAY.
]. Pierpont Morgan Expects the
Cotton and Grain Bills to
Stop the Rush.
THE SYNDICATE POWERLESS.
Talk in Washington OF Another la
snc of bonds In the Near
~uture.
THE SYNDICATE POWERLESS.
Talk in Warrington of Another la
sne of BOnds In the Near
Tuture.

The dwindling gold reserve IA the
heavy drains which have been made
upon the Treasury for export during
the past week are again causing anxiety
In Wall street. and rumors are current
that the bond syndicate. which agreed
TO protect the Treasury funds, is nnding
itself unable 20 fulil its promises.
To-day's outgoing steamships will take
e4,550OO0 gold to Europe. bringing the
total shipments for the week up to
E,15oOoo.
OF this amount Lazard Freres ship
, 2,5OO,0O0 W. II. Crossman e. Bro, ST.
O0).OO0 Hoskier. Wood q Co., 5000
Hand & Rand. $1,000; Nesslage u Full
Ter. 100000. and Handy & Harman, $780,
OoO. All this, with the exception OF
100000, was Withdrawn from the Treas
ury yesterday
The reports from Washington this
morning show that the general Treas
ury balance at the close OF yesterdays
business was slsl.9G2OoO of which only
$s9.56S.OO0 was in gold so that the gold
reserve has again fallen below the slo0.-
OOo.O00 limit. and is likely to go still
lower unless the syndicate comes for
ward to replenish the dwindling sup
ply.
The most startling fact in connection
with this unusually heavy gold ship
ment Is that the house of Lazard
Freres IL member OF the syndicate
and yet II is exporting more than one
half Of the total amount. and 1t gave
rise to the report that the syndicate
had dissolved and would no longer
stand by its agreement with the Govern
. ment
AS a result Of many anxious inquiries
tie firm has made an explanation OF
its action by saying that combination
of circumstances has left the market
bare of commercial bills, which 1t had
hoped would come into the ma ret In
fai amount during the first p.rt OF
September. and II was therefore ncces-
sary to make a shipment OF gold to
cover part of the accumulated in
debtedness and to continue supplying
the daily demands OF the trade.
They also state that they believe the
need of this shipment Is only temporary
anu that as soon as the crops make
their effect felt 1t viii pass away, and
that there Is no occasion for alarm.
The Morgan-Belmont syndicate, how
ever. has felt itself called upon in the
present emergency to make tho state
, - ;, '"' 'e'''
., .,n, ooo @ an" ,n' Wy ~, 81 ' "'''e'''
Wv so'' ''e', " w.
"'' ''a' ,r'.' suns :" So,' u mas
PAD INTO the treasury since that time
have been entirely voluntary contribu-
tions.
'he pao'ic impression that 1t guaran-
teed to keep the reserves up to the limit
nat a. A..
- w Wv ''''
but gives the assurance that 1t will con-
tinue to make gold deposits up to Jan.
I ~ nacos,,rr ara 40 .xis,in, ,,ra,,i,,,
,. i. .,.,,,,n a',. - ''''>''''''''
The existing conditions are that the
svpdic.t. harLer, c,puot o,,,ai, ,o,,,
'''"'' ''''''
merciai biiis In snfhcient amount to
now oomn.,,od - chin an,s w. nnon nna ',e -.
,hs,r honanoas anL ,hor ha,.o ,',a,,,'om, n,rp ",
given notice to the Government that il
n,n no ,ongor do,.nd unon ,,ar, 60,
support so long as the present condi'
tions prevail
The result is that talk is hoard apair
In official circles in Washington of an
other issue of bonds to meet the de-
"'"' ''''' ''' o's'''''"f :"
the current fiscal wear has alread,
reached $4,000 900. and at the prescn,
r,,s of incr.as. vii ,,,ou,, TO ,,r,b,,,I,
'"'e Va '''~' 70 '. va amount " p'Op'p''
more thah s-"'""o" ny Jan J.
According to j. Picrpont Morgan. tn.
head Of the Government bond syndi,ate
' - ''r
IL IS tht intention .. that organization
10 coltlhuc 10 tshlS' "" ~ sasurN II
md ~ aiillhs ~ toii ptlahce. ne say
mu!aths go. !, ana as fast as any guam
over to the Sub-Treasury
The sum OF $4,000" N gold was turne,
S.tiorI R.,"' Lt i,,Tt w iiaHoNt di,
the American Exchange and Nationa
Sank OF Commerc" !!oo,coo each, lesa
ttIi ttnI~i "o''S D''"s accepted III 'N
Ni,-,,,, ,bf,,u. , Ii,..r,, ,,,,,.,,,. -.
Mt. nyi sgn t!l'llhI nn'fd' SHprlE o
& ","t ..'.,, 1''fs t "' ~ 10
~ n,f, ,nc r,l '' ,, - 'ma,, !!
,,'r.l,r. ,,' ~ ''" W H''' S"'P''''"'
T1a' -. g+,,i .b.r,,ar,e o., ru-o,
ro-dsy v.styb.4 ,ea,.il,. mon ,h,. w., ~,
kets f,- .a.-1lr.- g. a.r,...ti IL , ,b.. ,,i