New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1896-12-18
WALL STREET AND EXCHANGES

There IS n probability Of gold going from this
country TO Germany IN the immediate future. The
German money market * very strong. largely Il
res lit OF tho business revival in that country.
Aside from this. there IS always large demand
for morcy at the end OF the year In Germany.
most financial concerns at thar time dress their
Windows" ne II IS described by showing consider
able cash hand I'm their statements Money Is
worth 81, per cent at the of the year in Ger
many. II Is rather expected that gold will be sent
from New-York TO Berlin by the Lain Of the North
German Lloyd Line which sails next Tuesday. II
gold goes It Will be by triangular operation. Ber
lin or Hamburg whatever German financial
centre II may be. Will draw on London. but London.
instead Of sending the gold Itself will borrow II In
New-York and have it sent to Germany from here.
The operation would really make York the
important money centre Of the world for the time
being In the present OF affairs II Is cheaper
for London to obtain gold here 10 supply German
needs than to make shipments from is own stock.
even II IL disposed to do SO. The rate for
money Is considerably lower In New lork than IN
London ana ioi mar reason s alone II ~ an 40,
In New-York. Furthermore, London does not care
heavy loss OF gold. There IS talk that $scglOo in
gold at least Will he forwarded by next Tuesdays
steamer London is already a great debtor to New
York There Is IN. highest authority for the state
ment that LONDON has obtained and now H.
$1,000. s0cOc'. in loans here on sterling ex-
two months II is probable that I.ondon's obliga-
tons will be- considerably Increased: The exporta-
ton OF gold to Germany will be no disadvantage to
this II Will increase the credit balance
favor OF Ncw-York rs against London. The effect
may be TO sifcn up the rates for call money
little but under any circumstances the general
money market here must remain easy for a long
time TO come IL Is expected that banks will furnish
gold which may be- sent 10 Germany and that the
stock IN the United States Treasury will not be
drawn upon The banks have n surplus OF gold
There Geographic transfers OF currency
through the Sub-Treasury yesterday to New-Or-
leans TO the amount OF $500 The Sub-Treasury
gained 10000 In gold through Sub Treasury OPERA
lions
There a report yesterday that the American
Sugar Refining Company Sugar Trust had bought
the Woolson Spice Company of Toledo Ohio This
L. the largest COTE, roasting and grinding concern
York and II said TO have been acquired by the
Sugar Trust 10 fight Arbuckle Brothers on account
of their intention erect sugar refinery In oppos
ton the Trust When asked II the purchase had
been made. II. o. Havcmeyer president of the
Sugar Trust. replied that he had nothing to say on
the subject
William +. ST. John yesterday posted for
membership i'm the Ncw-York Produce Exchange
He was proposed by Yale kneeand and was put
down as "A retired banker" Last summer Mr. St
John resigned as president OF the Mercantile Ma
tional Bank which paid n salary of $4,000 year to
him, and became treasurer OF the Democratic Ma
tonal Committee and also treasurer of the National
silver Party He said to have expended 500 900
of his own means In the campaign. He was
formerly a member OF the Produce Exchange IL is
presumed he is going into the grain business