New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1895-03-01
AT THE EXPORTING POINT.
ALTHOUGH RATES ARE FAVORABLE GOLD
= is NOT LIKELY TO BE SHIPPED.
THE AGREEMENT OF THE BOND SYNDICATE II
Is RELIEVED. WILL PREVENT ANY LAf'"h

THE AGREEMENT OF THE BOND SYNDICATE II
1s RELIEVED. WILL PREVENT ANY LARGE
OUTFLOW OF THE YELLOW METAL
Tho rates In the foreign exchange market are al
the gold shipping point, and the specui"'N' -"
banking community is somewhat diS'u'oe' ~ ~
soororee There seems however. no cause Tor
alarm, for the cast-iron contract OF thu bond synd
cate with the Government WILL II Is peie''u' -
wont any shipments of gold. The actual rate io'
demand sterling yesterday was 4S''' out "''"o'7'
gold has been exported at that hguie IL "O"" ~
be profitable to ship gold at that rate JUS nov" "
cause the Bank Of England is paying only Is TO- '2
an ounce for gold Commercial bills are scarce w"
there is little danger of gold being eNpor'eu AZ
the present rates There may be one or TWO sH'p
ments. but they will be special TahsdV'o''
will be for small amounts. If the drawers VI
change cannot get bills they WILL OF cou'N'' -
gold but the bond syndicate will sell bilis' anu )
was said 10 have made some sales Yes'eru"H' -,
change dealers will have trouble III GOVERN"
their drafts proftably with siXty-daE DIE ""''
they can discount in London for mere soiS'
One foreign banking house was asked Yes'eroAH
why it did not ship gold A. the present '"'es' '''
the reply given was TO the effect that 1t Was aS"'"s
the rule Of the agreement made with 'he - "u'
cato This remark bears out the statement re-
Gently printed in The Tribune that the h''""eViS vi
the bond syndicate made the men oerS SIX" 'oi'-
tracts not to ship gold before next fan On 'he
Stock Exchange the talk or eoIu eNP"''' "''' ~
revived by the bears" and they have succeeded
On causing some declines the strength of their
depressing predictions. Stocks when nave an inter
national market sold yesterday hut the iidui-
dalton did no; make a large total Inc present quo
,aton of the new bonds is ll9dll9'2 and several
sales were made at that figure Yesterday Harvey
Risk G. Son repor:ed the sale of large block of the
bonds 10 out-oftown investors In London the bonds
sold yesterday at per cent premium AS soon as
they are received here they will be listed on the
Stock Exchange.
T. J. Beck. of Philadelphia. one of the subscribers
10 the loan. has sent the following letter 10 The
Tribune:
1t is my desire 10 correct some Of the misstate-
ments that have been spread broadcast TO the e.
feet that all subscribers of 5000 and under OF me
new Government Is received thei: fuH allotment;
l subscribed for $4,000 and received notice by man
yesterday morning for no allotment whatever: Fur-
ther let me add that think il is very curious pro-
f tbe Successful bidders TO whom aoiments were
made. in order 20 show that their policy has been
fair in the matter
'THE RESERVE NOW NEARLY 100000
Washington. Feb 2S-Since February p. when
the first gold was paid in by the acknowledgment
syndicate account of the recent sale to them of
100000 Government bonds S2o266l7 in gold has
been withdrawn from the Treasury in :he redemp-
ton Of United States notes and Treasury notes.
These Withdrawals have been made quietly and
have not attracted attention. The daily withdraw
ais. which ii hoped and believed would cease
when the gold reserve was strengthened. have con
tinued regularly as not to escape the notice of
Treasury officials who have charge of such matters.
To-day the redemptions on account Of Withdrawals
aggregated So 251. and since February l. they have
averaged $4,000 day So far. S36.S14.3i2 in gold
paid in by the Belmont Morgan syndicate has been
taken up in the Treasury gold reserve which TO-
day stands at t394S762. increase since Febru-
airy Il of Si2.CpO.000.
THE LONDON QUOTATION FOR THE LOAN.
London, Feb. oS.-The new American loan opened
on the Stock Exchange to-day at per cent pre-
MUM, and closed at 49, premium.