Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1895-09-14
GOLD WITHDRAWALS
7,rt With Respect to Them in New
York and Washington.
SYNDICATE EXPLAINS.
80, Continue TO Ala the Cow
INF for an Indefinite PERIOD
nsh II Is Not Hound at


..,7,vcTON. September l2.-sscre-
..-.,,ae positively declined TINS
tai' O., oxpress any opinion on the
i'.''., beayv Withdrawals Of gold from
f''' ~ Cor shipment TO Europe. lie
~" o5ylscd early that to-days WIN
va would likely approximate
Zoo Some surprise was expressed
.,.-,rl Frercs. original members OF
i.'' evr1icate. had Joined IN the
-'s.exp5rt movement and some speeu-
..., was INDUCED in to the effect That
Int an end Of the syndicate agree
., maintain the gold reserve. still
mas no explanation vouchsafed. ana
,.-.s,,y officials are apparently as much
:. ,ss dark az the public as TO the syndl-
..,e's intention.
,s n means Of obtaining gold. secre-
49,. e,r,isle accepted the offers OF seve-
81 parties 20 supply gold at New York.
n. agreed 20 give them the government
,,,,r,ct rates for shipment from Washing
-, 20 ans port designated upon deposit
80 rold IN New York, provided the gold
81, S,n,slted was not withdrawn from the
r,,,.ury. At present shippers have TO
..y laukers' rates. which are consider
,,lv hleher than the government rates.
Il is thought that considerable gold will
90 obtained in this way. Arrangements
cere perfected with the express COM
,srv 10 ship the currency. and quite a
qrre shipment was made this after
,oon for Pittsburg, Pa. and one shipment
d n smallor amount was made to Ro-
chester ~ Y.
TREASURY DEFICIT. 100000
WASHINGTON. d. c.. September 49,
The Treasury general balance to-day is
rs 200. OF which S95,CSo,0Oo Is in gold.
me dencit so far this fiscal year IS sii.-
~ IN. and with the revenues running at
ne present figures this deficit by Janu-
sry ist next will approximate twenty
I've OF thirty million dollars.
The amount realized by the. three bond
issues. made within the past two years,
exceeds by only 100000 the total Urea
mry balance to-day. so that without
those Issues there would be an empty
Treasury. With a full Treasury, of
course. II follows that gold can always
BE- had but with a Treasury depleted by
vvrendtures exceeding the revenue. and
with the tide OF commercial exchange
against us. gold is difficult 10 retain in
the Treasury.
GOLD RESERVE, s9G, ,57i
The advices at the Treasury Department
from New York stated that 100000 in
yold had been to-day withdrawn for fx-
port, and $4,000 I'm gold had been de-
posted. making the net loss for the day,
&c. 10000 This reduces the gold reserve
10 s9s 26s57i.
The features OF the day. as viewed
from here. were the appearance Of La
gard Freres as goid-exporters. the de-
poeit by the Hanover National Bank of
20 900 in gold. the large demand for
small notes at Southwestern points In
exchange for legal tenders deposited at
New York. and the readiness with which
hanks ayailed themselves Of Secretary
CarllslCs proposition 70 deposit gold in
New York for currency. deliverable at
C1vernment-contract rates at western and
northern points.
No RUPTURE OF SYNDICATE.
NEW YORK. September 13.-Mr J.
T.erp0nt Morgan, when asked to-day as
I b 7 -"
bond syndicate, as indicated by the re-
appearance Of Lazard Freres as heavy
shippers Of gold. said: There has been no
rupture. The syndicate is going on just
the same trying 10 help all IL can. but
Ifs Obligation expired some time ago"
When asked II he did not anticipate
decrease In the supply of bills against
cotton and brcadstu'fs. he replied In the
Affirmative. and expressed some surprise
thar greater supply of bills was not in
t6. market
The president Of a large downtown
!4rk which IS a member OF the syndicate.
sa1 that ne thought Il was going too far
60 sey that the syndicate had been dis
rlptal, although its members may have
son.lUled not TO deposit any more gold at
gfesent. on the other hand. Sub-Treasu-
- officials express confidence that the
impairment Of the Treasury gold reserve
ty exports will be made good.
STATEMENT FROM SYNDICATE.
NEW YORK. September l3.-ln respect
20 the cod engaged in this city for to-
norrow's steamers the United Press Is
authorized by the bond syndicate to make
ne following statement:
''rhe imprcssion has become general
hat the members Of the bond syndicate
.9it.I States Treasury TO maintain the
aH"Aev reserve until october LIST, and
mar upon that date said obligation will
;ease and terminate. Such is not 'he
ease. The bond syndicate fulfilled ali
r obligations TO the government in June
asst and has not since been bouni IN
any way 90 the Treasury.
" Is true that II Drs from time -
"me since June last paid over various
sums Ia gold coin 10 the Treasury, which
ia'c suiilced 10 maintain the reserve,
out Il has done 50 voluntarily. and viii
continue 60 10 DO In the same spirit and
u .m tie same mDtive.
50 far as October ist IS concerned.
mas no relation 10 the action of the
to'i syndicate. and the latter viii con-
lhle 20 deposit gold until the LIST OF
november. and the 1st OF December. and
l1r lst Of January. II necessary. and
existing conditions make 1t feasible TO
.. s1. But neither the bond syndicate
..f any one else can control the elements.
me !iea, however, that hs relations TO
w. treasury situation VIII be any diff
.tifni on OF after October 1st from what
.-,y are now, and have been all along,
S erroneous. and should be corrected"