Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1895-08-14
GOLD RESERVE SAFE.
Evidence That the Bond Syndicate viii
Continue 10 Protect II.
DEPOSIT AT NEW YORK CITY.
Mcssrs. j. pierpOnt Morgan & Co.
Exchange over Million in Gold
fit In Exporting.

WASHINGTON. u. c., August i3.-Eyi-
donce that the Belmont MOrgan bOnd-syn-
dictate intend 10 protect the gold reserve
OF tie Treasury against raids upon It
for export TO Europe was received at
the Treasury Department by Acting-Sec-
rotary Curtis at f:l5 o'clock this afternoon.
4 telegram from Acting Treasurer Muhle-
man reached him. stating that }. Pierpont
Morgan IL Co. had deposited sl,3i6.G0
i'm gold coin I'm exchange for United States
notes. 4 previous telegram 10 the depart
ment contains the information that S9oo,-
90 I'm gold coin had been withdrawn from
the Sub-Treasury for export tomorrow.
with the deposit Of gold to-day by the
syndicate. their deposit since gold exports
have been resumed on a large scale
reaches total Of s3.3iG.oo 1t is esti-
mated here that with exchange at the
high figure quOted-Si9O 1-2NSig1 Sta
ret profit Of 5000 on each 100000 in
gold exported IS made by the shippers.
Treasury officials are much gratified at
the action Of the syndicate. as IL is con-
sirued 10 mean that they will not permit
the gold reserve TO fall below $l0.0U.W0.
Al the close Of business to-day the re-
serve stood at $l01 1913, 7l5.
THE NEW YORK DEPOSIT.
NEW YORK. August 13-The govern
ment bond syndicate to-day added Sl.oiS.-
90 TO the gold reserve in the United
States Treasury The depOsit was made
at the Sub-Treasury in New York. It
was mainly IN checks issued by the Assay
Office for gold bullion delivered to that
iucfffnfian Furnished
The Assay Onice checks were purchased
by the syndicate from bullion dealers.
The syndicate is TO supply more gold.
Arbucki' Brothers. the weil-known cof-
fee importers. Withdrew $4,000 In gold
to-day for shipment 10 Europe. The
withdrawal. II is stated, was made only
after a meeting OF the members Of the
bond syndicate this afternoon.
TREACHERY.
As the story runs. tn syndicate. after
a close investigation. discovered that all
the members were not adherinh 70 their
original contract in regard 10 gold snip
ments-that two wcii-kuOwn firms, IN
stead Of appearing I'm the matter them
selves, used the house which has recently
done the bulk of the shipping Of the
yellow IN tai II has been said for some
little time that Crossman d Brother were
lDi lOlNdlAlIE HDll III FAAA lNA ~ yuan
titles 10 meet payments on the firm 8
account but that its bills were sold
against the gold for the profits accrulng
directly from such operations. Arbuckie
Brothers are recognized as competitors OF
Crossmen X Brother. and shared In the
bond syndicate profits. whereas CrOssman
q Brother were not In that deal
While the syndicate members would
speak only in whispers 1t is evident that
they have discovered treachery in their
camp. and have taken the initiatory steps
10 punish the offenders. When the inside
facts are known they are liable 10 cause
considerable cOmmOtion I'm financial circle s..
Having made enormous profits through
their participation I'm the syndicate Opcrl-
lions. it was not believed for a moment
that any OF the foreign exchange houses
would ship gold. and thus hamper the
Belmont Morgan Interests which have
been striving 10 keep the Treasury gold
reserve as high a. possible.
WE NEED NOT WORRY"
NEW YORK. August IA Duluth
NlnnD epecilI says: you may tell the
people that they need not worry about
the gold reserve" said Secretary -of-th 20
Treasury Carlisle yesterday. 1t was only
when he WAS told about the prospective
heavy gold shipments and the anxiety
i'm som quarters about their effect upon
the gold reserve that he consented 10
speak even briefly on public anaiIs.
The Secretary left last evening on a
trip down the lakes.