New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1895-08-14
THE GOLD RAID CHECKED.
BELMONT MORGAN BOND SYNDICATE
PROTECTS THE TREASURY.
NEARLY MILLION AND HALF DEPOSITED
Observation-Disclosures BROTHERS, MEMBERS
OF THE SYNDICATE. TURN EXPORTERS

OF THE SYNDICATE TURN EXPORTERS
OF THE PRECIOUS METAL.
There was an outflow Of 10000 in gold from the
Sub-Treasury yesterday and inflow Of S,5O.vD
The latter sum deposited by the Belmon-Mor-
gan bond syndicate to increase the Treasury re-
serve and is the second deposit made by the syn
dicate to this end since its purchase Of bonds last
winter Two or three weeks ago the syndicate
turned over s. 100000 in gold to the Sub-Treasury,
which with the amount put In yesterday, makes
total OF S}3JOcO0 The bulk Of the gold deposited
Yesterday was in Assay Office certificates. These
are checks issued on the receipt OF a certain guam
tity of gold bullion and the equivalent is held by the
Government subject to the order OF the holder OF the
certificate Though the Treasury reserve was near
ing the 800 900 mark II had not reached this
figure before the action Of the syndicate compensated
for Yesterdays Withdrawals. The reserve was SYl.-
100 ooO which, with the syndcate's deposit Will bring
II up to about .l03 10000. But this figure is
considerably below what IT. WAS three wosxs ago.
when the reserve in round figures about $o'.-
10000 Though Wall Street generally appreciates
any movement that keeps the Treasury gold re-
serve above sOOoooOOo 1t does not any prospec-
tive abatement of gold exports long as sterling
rates OF exchange maintained at present high
figures.
or the amount OF gold withdrawn from the Sub
Treasury yesterday $4,000 was taken by Arbuckc
Rrothers the well-known coffee-house at No III
Frontst.. and the balance Of $4,000 by Nesslage K
Fuller an exchange house which regularly ships
considerable gold in small amounts. The ship
ment by Arbucke Brothers somewhat of a
surprise to Wall Street, this firm Is known to
be one OF those which furnished gold to the Bel
mont Morgan syndicate and II was supposed that
the firm had an agreement with the syndicat te
whereby II to ship gold. W. II. Crossman
e. Bro. another coffee firm. and who bought no
bonds have been conspicuous gold exporters re-
Gently. Arbuckle Brothers say their gold shipmen,
is to meet their mercantile obligations In London
only and none OF the amount is sent to meet out
side sales of bills OF exchange. The firm say they
have had disagreement with the syndicate, but
decline TO discuss their arrangements with the bond
people. .
1t is thought in Wall Street that Arbuckle Broth
must have withdrawn their gold with the syndi-
Gates sanction. There Is common BELIEF in ex-
change house circles that more gold Will be exported
during the week The gold taken from the Sub
Treasury yesterday will be shipped on the Britannia
which will sail to-day.
Washington Aug l3.-It is estimated here that
with exchange at the high figure quoted. 1907 and
490a,. net profit Of $500 each 100000 gold eX-
ported is made by the shippers Treasury officials
much gratified at the action OF the syndicate
it is construed 10 mean that they will not per
nit the gold reserve to fall below $lO0vO.eO Al
the close OF business to-day the reserve stood al