New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1896-07-21
RANKS GIVE UP GOLD.
v,rpGE THEMSELVES TO CONTRIBUTE
s15.OoOOOO TO THE TREASURY.

FOR SACRIFICING sECUR1TIES-THE
COURSE OF STOCKS.
Ranks belonging TO the New-York Clearing
uouse Yesterday pledged themselves TO contrib
,,s IN the aggregate S15000,000 in gold to the
United States Treasury. and it may be that the
.uount will be increased to-day to S20O00OO0.
The banks will receive greenbacks and cur
,.,cv certificates for their gold. The work of
oorecting the gold undertaken by Frederick
n Tappen. president of the Gallatin National
rank who came 10 New-York especially for
ibis purpose by an early train from Lenox.
Mass where he was staying. He devoted an
entire day to a canvass of the banks with
,hscription paper, with the result above noted
Il. said:
There is an effort TO concentrate a large
.rount of gold in the Treasury 1t will be pos
she 10 make some definite statement in rela-
zion 10 the matter tomorrow have been sur
,r,sed and gratihed at the alacrity with which
,bs banks have responded TO the request TO
onerate in the repenishment of the Treasury
cold reserve. There is to be no purchase Of
honds from the Government with the gold. The
hanks are simply to exchange gold for legal
tenders"
WITHDRAWALS OF GOLD.
Withdrawals Of gold coin from the Sub-Treas-
MY and gold bars from the Assay Office yester-
day for export were SO 030OoO. as follows:
He:ebach Ickeih-imer Co. coin). l.ssooco
larsri FFeres toarsi epWo
knalih Nacioo g N"Ahe' @'V'V
Total o3o 900
In addition there Was withdrawn in coin from
the Sub-Treasury $4,000 by the Bank OF
Montreal and 10000 by the Merchants Bank
do hut; 4.
be retained in New-York and not shipped to
Canada. The entire Withdrawals Of gold thus
amounted TO S33SOOOO which brought the
Treasury gold reserve down TO $9O,OOO,OOO in
round numbers. and made the total Withdrawals
since April T. when they were begun, $341I0OOO
The gold taken for export will go TO Berlin
and will be forwarded by the Trave. of the
North German Iloyd Line, which sails at 10
o'clock this morning. 1t was said that the ulti-
mate destination Of the gold Russia and
Austria, which collecting it in pursuance
Of their currency scheme whereby they estab-
lish themselves on the gold basis.
In some quarters doubt was expressed as TO
whether or not the United States Government
could sell bonds # it desired in order TO main
tain itself on a gold basis When ]. Pierpont
Morgan was asked for his opinion on this point
he SAID:
THE Government would have particular
difficulty In selling bonds TO replenish the gold
reserve II it desired TO do so"
AT what price," he asked.
THAT is another question. have doubt,
however. that the Government could sell bonds
n. fair price. 1t is absurd to question its
ability 10 do so. 1t would. nevertheless. be In
expedient 10 issue bonds now. Conditions out
side Of the political situation. however. are IA
vorable to the sale OF bonds Crops are good
railroad receipts have increased and railroad
management has In proved"
NO MEETING HELD.
There was a report that meeting OF bankers !
was held at Mr.. Morgans Office to consider the /
situation No such meeting held or pro- /
posed.
The stock market wore panicky aspect until /
. o'clock in the afternoon. when the information .
that the banks were coming to the aid of the .
Treasury abruptly stopped the decline in values +
and started a rally which continued TO the close. 1
The prices quoted in London for American
stocks Which were received before the opening
NJ the Ncw-York market we're for the first time /
this month below the parity Of New-York prices. .
This fact alone was sufficient TO start selling
movement. which was greatly accelerated by The +
heavy ENGAGEMENTS of gold for export that were
made in the forenoon.
CLOSING PRICES OF STOCKS.
The closing prices Saturday. the lowest prices
Yesterday and the closing prices yesterday for
some Of the leading stocks were: