New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1895-08-09
THE OUTFLOW OF GOLD.
UNCERTAINTY AS TO THE ATTITUDE OF
THE BOND SYNDICATE.

| MEANTIME THE RESERVE FUND rs DROPPING
DOWN TOWARD THE sioo.ooo.ooo MARK
Washington Aug S-The reticence that pre'ais
among Treasury officials when they are approac"''
the subject OF the condition OF the goiu re'
and their absolute refusal TO offer any op'''o
to what this outflow OF gold OF the last TWO "..~
signifies. lead to the conclusion in some qua, .e
that the Treasury is uneasy about the s''u''o
II is quite probable that by Saturday 'he SYM
will be compelled to prove whether IL GU"
sders it's contract fulfilled. or whether IL 'ee'
strained 10 assist the Government IN fnain'a''''e
the reserve. The rapid dimnution OF tne rese' We
the speedy descent from more than Slo'"'"" u
very little margin over the amount the reserve 10
required to be. has shown how easy raio' eve"
under the gulse OF the ordinary course OF business
can be conducted.
Treasury officials emphatic in their STATE
ments that this loss OF gold is due to legitimate
business, and point TO the character OF the houses
taking II to show that II is not the resui. oi
speculation Whatever may be the cause, the JOSS
is felt and will be felt to a still greater extent be-
fore the week Is ended. There was an intimauon
at the Treasury to-day that notice would be gwen
tomorrow OF a withdrawal for export Saturday
and officials do not hesitate to admit tnat the hui-
point the further loss of an amount equai
to. II not greater than. that which was shppeo on
to-day's steamer At the close Of business this
afternoon the reserve stood at s0i.l1s%2. loss
yesterday OF S49.4i2. The N,co0V shipped to-
day has not been reported to the Treasury In the
official balances from New-York and will not there-
fore appear in the reports until tomorrow. Ihc
actual condition OF the Treasury. them mas the
reserve amounting to only $103.ll8662 This SHOWS
a loss of 1850 900 since the syndicate made Its last
PAYMENT July s. and sent the reserve up TO Soi'-
$50 20S The gold reserve was not nearly so low as
this on July a. when the syndicate felt called upon
to increase It.
Some Treasury officials. who discuss the situation
1roit hat he syndicate
steps in and fills the gap that has thus been maze,
the public will be warranted in believing that the
syndicate considers It's contract to have been COM
peted In its entirety and that II is TO longer
morally bound-if not by the disputed meaning OF
the text OF the contract-to maintain the reserve
Acting Secretary Curtis said to-day that he did not
know what the intentions OF the syndicate were
but so far as the Treasury situation was concerned
he saw nothing In II to justify any feehng OF
alarm The gold that going out was sent
abroad In the payment OF debts. and within few
days he believed there would be a flow In this
direction. Crops were beginning to move. ana
the presence OF commercial bills In New-fo orK some
OF which we're already the Street, would loosen
the tension and bring down the rate OF exchange
and stop the export OF gold. There are others
however in the Treasury not so sanguine as Is
Mr. Curtis and many OF these are beginning 10
one that must show which way the tide VIII turn
Meanwhile the gold continues TO go out, ana no
offical expression Of the proper Interpretation OF
the bond contract is made