Omaha daily bee., 1895-11-23
TREASURY GOLD MELTS AWAY
Nearly Five Million Dollars Engaged 70
Shipment Today.
STERLING EXCHANGE ON THE ADV;,""r
officials at Washington OGcr New
Explanation for the situation
and Say There IL No oc-
casion for Alarm.

NEW YORK, Nov. 22.-The Withdrawals
of gold have reduced the free coin in the
! treasury to a little over S33, ,O0O,0 900, and as
| further Withdrawals might inconvenience the
| treasury, the secretary last night authorized
the sale Of United States gold bars to exporters
at premium Of one-tenth of 1 per cent
! The bankers, however, could not afford to
pay more than one-sixteenth of per cent. and
after some discussion the secretary author
| lied the assistant treasurer here and the
superintendent of the assay Office to let export
ers have bars at a premium of one-slxteenth
Of per cent, Accordingly about S2.500,O0O in
bars was engaged by IL o'clock There was
some delay, however, In selling the bars, be-
cause the superintendent of the assay Office
was not instructed to sell the bars at the
| reduced price until communication had been
had with the treasury Office at Washington
| by phone
BARN, Magoun & Co. withdrew $500 900
| gold, in bars, from the assay office through
| the subtreasury this morning, in accordance
| with the announcement made yesterday, for
| account of Kiddcr, Peabody q Co. of Boston,
| making shipment of $l,000,O0O for the Bos
ton house. In addition to this sum. w. II.
Crossman a. Co., also took 81 900, 900 from
| the subtreasury for shipment tomorrow,
making $2,000,O00 shipped by that firm this
week The shipments tomorrow, besides
| those already mentioned, Will include SS0O,OOO
| by Lazard Freeres, which will probably be
| increased to $1,25O,OOO; s75O,OOO by Heidel
bach, 1chelheiner e Co., and $500 900 by
Muller, Schnell & Co.
The sterling exchange market is firm at an
| advance of one-fourth of 1 penny
in actual rates for short bills. The
supply of commercial bills continues very
light. The actual gold engagements for to-
morrow up to 1:30 o'clock aggregate 81 600,-
900, including s1,5O0.000 in gold coin and
~ nnn .1,n e
the shippers from coin to bars is made for
the reason that the bars are standard weight
which is not true of the coin, are more easily
handled and less subject to abrasion.
The amount of gold coin at the subtreasury
on November l over and above the amount
required to cover the outstanding gold GER
tfcates was $3S 500 900. That amount has
been reduced by gold exports, not including
engagements for Saturdays steamers, to ap
proximately $33, 500, 900. The gold reserve on
November was in round numbers 500, 900
and was reduced by recent shipments to $751;
100000. This weeks exports, including the
amounts so far announced for Saturday, will
bring the gold reserve down to about $S2,
200, GOO.
The total shipments for the week so far
announced aggregate $3.50, 900 and will in
volve loss to the New York banks Of about
81, ,0O0, 900, which will be partly reflected in
tomorrow's statement.
WASHINGTON, Nov. 22.-The news that
approximately S5,OO0,OO0 in gold would be
shipped abroad tomorrow created something
of stir among treasury officials. although
heavy Withdrawals have been expected. The
near approach of the reassembng of con-
gress seemed materially to lessen the alarm
which otherwise would have been felt There
is little expectation, however, among treas
ury officials that the coming congress will
enact any financial legislation in conformity
with Mr.. Cleveland's views or those of Mr..
Carlisle, especially as to the retirement of
the greenback but it is expected that con-
gress, by some means, will afford at least
temporary relief.
An official of the Treasury department
today, in speaking of the present heavy
Withdrawals of gold, said that they were
caused by combination of circumstances
The more or less Sc "ious breakup in Kaffir
stocks had created large and immediate
demand for gold and in order to get 1t
foreign holders of American stock had
been obliged to sell. American securities !
were among the best in the market, and |
were more readily turnsd into money and |
at a less sacrifice than almost any other
stocks, and hence the recent heavy sales |
Another reason. he said, was the high rate |
Of interest prevailing in the eastern money |
markets, especially in Berlin, where inter |
est very recently reached 6 per cent. Money |
as everything else, always sought the best |
markets, and that market was at present in |
Europe. 1t was pointed out also that to- |
morrows steamers will be the last to sail |
on which shipments of gold can be made |
to liquidate obligations of various kinds ma
turing on December /. All of these causes |
he regarded as having combined to create |
an active demand for American gold at this
time.
At the Treasury department no prepara-
tions are making for another bond ISSUE and
it can be stated on authority that none is
at present in contemplation. The true amount
of the gold reserve at noon today is $S2,-