New-York tribune., 1896-01-09
GOLD MOVEMENTS SECRET
SUB-TREASCRY OFFICIALS DECLINE TO
TELL OF WITHDRAWALS AND
DEPOSITS.

An ORDER FROM THE DEPARTMENT AT WASH
1NGToN-No CHANGE N THE SYNDICATE
WHAT WALL. STREET MEN SAY.
Instructions from the Treasury Department
were received at the New-York Sub-Treasury
yesterday that no information should be giv"n
TO the public as to Withdrawals or deposits "t
gold Assistant United States Treasurer Coh-
rad ~ Jordan went to Washington in the after
noon, presumably in response to summons
from the Secretary Of the Treasury.
What the purpose in making a secret or
the movement Of gold into and out OF the Sub
Treasury could not be learned; but the general
opinion was that such policy was likely to 10
great harm because II was calculated TO excite
the suspicion that the United States Treasury
was being drained of gold and the authorities
were trying to cover up the fact. However.
the gold transactions OF the day at the Sub
Treasury We're found out. They consisted OF d
withdrawal on presentation Of greenbacks, Of
5000 900 In coin by the Bank Of Montreal. for ex-
port to Europe, and the deposit by the Fourth
National Bank Of 100000 in coin in exchange
for gold certificates. zimmerman Forshay
sent In s20OO 900 In coin brought from Europe
10 be counted and weighed The Government
accordingly not only gained no gold. but lost
5000 600 1t was pointed out that the s5Oo0o0
in gold coin which the Mercantile National Bank
placed in the Sub-Treasury the day before. and
for which in return ii took greenbacks might
have been sold 10 specie-dealers at a premium
Of onc-half Of one per cent. or. In other words,
al profit Of $500 TO the bank.
DECLINE n STERLING EXCHANGE RATE.
There was "A decline OF one-half a cent In the
rate for sterling exchange. but this was not
unnatural when II was considered that no
steamship upon which either gold or bills could
De- sen. would sail until saturday. Il was an
tcipaied that there would be large calls upon
the Sub-Treasury and the Assay Office to-mor-
row for gold. t. b. started on its journey across
the Atlantic tn day following.
story that j. Pierpont Morgan had written
a letter to the secretary OF the Treasury c-r;-
fying that the latter had no hand In, and was IN
uo way responsible FOR. the organization OK the
bond syndicate was learned 10 be untrue. a re-
port that tn. Naw-York Life Insurance Com
pauy had Withdrawn It's syndicate subscription
f.. slOO0o.c00 %, the bonds was likewise dis
proved. II was authoritatively stated that the
syndicate was unchanged and that a bid in its
behalf would b, put In for the bonds Further
more. IL stood ready To aid the Government by
taking bonds should the necessity arise for the
ACQUISITION of gold by the Treasury before Feb
ruary g. the time set for the opening of bids
under the public Offering. II seemed to be taken
FOR granted that the popular loan" would not
succeed but II course. the hope was that II
would II was we'll understood that in any event
tn. bonds would be purchased-ir not by the
public then by tho syndicate.
BETTER FEELING IN THE MARKET.
Thor. was better feeling in the stock market
but NJ pronounced Improvement was looked for
until general financial conditions should become
more settled. Money call got up 10 10 per cent
at one time but large offerings were Immediate
lv forthcoming and the rate dropped 10 3
President II O. Hav"meyer. OF the American
Sugar Refining Company in discussing the situ-
alton. said
Did YOU ever SEQ anything Ike tho presen, troubles
-uch a rally around ihe Monroe Doctrine Person
ally | oud like to see the Ensish nag lodtills
over OF this hemisphere man 10 ~ , s"r,,e
,f the countries continue In their present semi
The only way out ., our own difficulties is To- night
a'onk a. best W. can for about TWO y"ars longer
rnttl the complexion OF the Senate is changed
That Is about The only remedy see '"I i,S ~"
l. rnosi Inconsistent anl blunderng. We have
issued bonds enough To- retir, tne puik o. o,
continue 10 hc the source Of our trouble. rms
issuing 81 bonds is Ike cutting out iitue pe,e oi
ncsn 20 cure cancer. nls'rdu oi 'u'.th '' Wv, W.
,rr.r The issue OF bonds does not get Al the root
Annth.r instance OF nlunder and Inconsistency il
because II wants protection IL IS t"tl'''i '' .
set tho Treasury has lying IN It's NLel.S dno"'
$3iDe0.ooo or silver pure haS"i py aSt o,
which rs worth only - cents on the dDitr th' o.'r
ao cents amounting to about tlii"o~D representl@S
an abs dilute loss 70 the Government when the
owners of silver mines have received