Fort Worth gazette. [volume] (Fort Worth, Tex.) 1891-1898, 1895-08-21
JUST ABOVE THE LINE.
THE TREASURY RESERVE is NOW
ABOVE tine ONE HUNDRED
MILLION MARS.
New york Firms state rhat More
Heavy Withdrawals wn De
Made This week.

New York. August 20, - lloskior,
Wood " CO., VIII ship SlibO0O0 gold
by tomorrow's steamer a member nt
the firm. referring 10 thu shipment
stated that they found gold ne cheap
eat remittance They have s1ll no eN-
change Ggulust this transaction and
only ship TO meet obligations abroad.
The si75O,0OO was ordered from the
sub-trensury today. They VIII snip
more gold later In the week,
w H. Crossmnn g. Bro, VIII ship
81 900 900 In gold on tomorrowE Ateom-
err. II Is believed that Hard q Rand,
also Handy q Harmon, VIII export
gold tomorrow
Nessiage 8 Fuller win ship 100000
gold tomorrow.
Gold to the amount of SeSi0 900 was
withdrawn from the sub-treasury FOR
shipment to Europe up 10 p, m. to-
day,
The government bond syndicate
turned 100000 In gold into the sub
treasury, bringing the net gold re-
serve to over 800. 600, 600. after deduct
ing the amount withdrawn for ship-
ment to Europe.
Washington, August 2O.-The gold
syndicate today prevented the gold re-
serve from failing below the 100000
600 mark About 2 O'clock the treas
ury department was Informed that
81, $780, 600 In gold had been Withdrawn
for export from the suh-trcasury In
new ! Nlks rs inc Bhlh ItNfiNt 1T lilN
close Of business yesterday stood ut
Sl02, g7.146, the withdrawal would have
reduced the reserve 10 S9aGIl lAG. A
few minutes afterwards. however ar-
ting Secretary Curtis received tele-
gram saying that Mr., plerpont Nor
gun, Of the syndicate, had deposited
81 900 900 IN gold In exchange for green
backs This deposit swelled the re-
serve to si0l, 6T71i6. The officials at
the department display no apprchen-
sion as to the gold reserve ana init
mate that the syndicate WIN continue
20 make deposits TO offset Withdrawals,
But they decline 60 ,Xpglas trcir
Reasons for their fnlth ana the QUO ton
raised constantly Is as 10 the pledge
under which the syndicate IL making
these points and the period It r.'vera
as well ns the ability OF the syndicate
10 continue TO protect the reserve, But
little light can be shed on these QueB-
tons. however, as Il IL said that proha-
bly, one or two government officials
President Cleveland and Secretary
Carlisle known the unwrltten part OF
the agreementmade with the syndicate
which secured the last issue OF bonds.
The syndicate has so far voluntarily
deposited about SS.0O0,O00 In gold. The
manner In which the syndicate has
accumulated tho gold which It has
voluntarily exchanged at the treasury
| for greenbacks IL not absolutely known,
| as the F4nuitulc upts Hlhht pAullA IT'S
| operations, but at the treasury de-
| partment II 10 believed that most Of II
is obtained by giving exchange on San
Francisco and buying bullion checks.
The circulation In San Franlso n prnc4
tically all gold
The movement Of money In easy. as
n result OF which san Francisco eN-
| change on New York ~ usually at a
| premium equal to the cost OF the tranf-
| porthtion OF gold across the continent.
| For the same reason New York eE-
| change on san Francisco In often at
slight discount. although just now
] It Is AZ par BY Offering exchange on
san Francisco, therefore, the syndicate
| can accumulate large quantities OF gold
| In san Franclso prntially at no ex-
| pense. The syndlate can also procure
| gold by buying bullion checks issued
| for bullion deposited at the assay Of
fees and the government mlntR. This
Mt the present time VIII result IN q de-
mand for gold being a slight premium.
II If not believed. however. that the
syndicate Is put TO much expense In
accommodating In this fashion, practi.
ally the entire product OF the Ameri-
can gold mines. which averages usually
about y55000,000 a year.