New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1896-08-20
COMING IMPORTATION OF GOLD.
LAZARD FREREs TO RECEIVE s2oOOooo IN THE
YELLOW METAL BY NEXT SATUR-
DAYS STEAMER-SILvER STILL
GOING DOWN.

Talk about the bursting Bryan boom, the
steady slump In silver and the gold Democrats
meeting at Madison Square Garden was sus
pended yesterday in Wall Street, while bankers
and brokers spoke about the coming importa-
tion Of gold. and congratulated themselves on
the good feeling which the report created Early
in the day 1t learned that Lazard Freres
will receive 50, 100000 gold from London by next
Saturdays steamer, and that other importations
may soon follow.
1t is well known that the decline in foreign ex-
change and the stringency in the domestic
money market will permit ot the importation
of large sums of gold without undue expense,
and 1t was reported in Wall Street that Presi-
dents j. Edward Simmons and F. ID. Tappen
were in consultation yesterday on the advisa-
bty Of adopting the methods Of 1893, when
about $50 600 900 of gold was imported.
The fact that gold is coming to this market
from abroad had decided beneficial erect on
the market. 1T comes like breath OF cool air
when the thermometer is doing stunts up In the
nineties," said broker, "and although 'he lhi-
rortations are only commercial transactions, they
come so closely upon the goid demonstration a'
Madison Square Garden that we may look upon
the improved situation In financial circles as
another knockdown for the Popocrats
Tho wane nj the BRYAN movement has given
the merchants and bankers renewed courage
and their belief in the ultimate collapse OF the
anarchistic movement the decline In the Tor
eirn exchange market and the high rates pre-
vailinp in the local money market as compared
with the low rates In European money centres
are some Of the reasons which have been ad-
vanced for the importation of foreign money.
Among the rumors in connection with the goid
ironortation was one to the effect that many or
the leading banking concerns proposed TO AID
the movement by lending money against cotton
and other products, and by that means they
hons, to relieve the pressure from the country
banks where money is in demand TO move the
crops BY this action on the part OF tne 1 pa'ih n
ers it is believed that the circulation coulu ne
increased by about S5O0OOOo Wltm "eeh'
opd that the money market would be made easy.
a bank president was quoted as saying yes
terday that the relief which VIII pe gwen "
country banks by the action or New 1orh JAIN am
ers and the ability of the farmers TO move thelr
crons Twill be q more effective campaign aIBu-
ment than thousands of dollars subscribed u
the Mckinley campaign fund -
The fact that large amounts OF goid "ele
offered for sale yesterday at quarter OF one
per cent premium for delivery in ten days was
looked upon as a favorable sign ,, ,
There was little comfort for the silver poES
IN ,esterdav's market The commercial price OF
har silver dropped 10 65&, against tO12 the ga!
before and Mexican silver dollars rell rom %
to 511 While various causes are asslsneu Ioi
the continued decline, among which are the ue-
crease in trade with China. boarding the w VIII ,.
metal in London in anticipation OF rise III M sue
nrjce and other causes, bankers agree thal sii-
Yer has been going down ever since Bryan spoks p
in Madison Square Garden. and that It's decline 1'
is in keeping with the decline IN bryam s'1on, ,n
Penorts from Europe show that IN the iast
three weeks contracts for future delivery or sll-
ver have been only about 60 per cent Of what
they were at the corresponding time lass .eaI al
i & ~ nr,ces n little more than the average in
buyers favor.