New-York tribune., 1896-01-08
GOLD GOING ABROAD.
CONDITIONS CHANGED BY THE CALL FOR
BONDS.


BONDS
THE ST. PAUL TO TAKE OUT OVER s2soo.oco To-
DAY-BELIEF THAT THE TREASURY GOLD RE-
SERVE WILL BE DRAWN DOWN A GOOD
DEAL IN THE NEXT FEW WEEKS.
When the Secretary OF tie Treasury issued hi1
call for bids for Sl00 OOO 900 twenty nneyear per
cent bonds inancers expressed the belief that
expectations of gold would be resumed. for the
reason that the condition was not imposed on bid
ders that they should not withdraw gold from the
United States Treasury with " hch TO pay for the
bonds. The agreement of the syndicate organized
by ]. Pierpont Morgan and President James Still
man, of the National City Bank. to purchase the
bonds at private contract stipulated that the gold
to be paid for the bonds should be obtained out
side Of the Treasury, and this condition resulted
in such large premium on gold that arrange
ments were made for bringing large amounts or
it from Europe
A good deal # gold had air lady started from the
other side when the bond call was published, but
orders for other lots Immediately counter
manded. The bond call remove the necessity for
importing gold. 1t also had tn, effect Of stiffenng
the rates for sterling exchange and thereby fur
nshed inducements to forward gold to Europe
The first gold boat" to leave for the other side
since the bond call will sail to-day. 1t Is the St.
Paul Of the American Line. In the parlance OK
Wall Street gold boat Is a fast vessel Gold
shippers do not send the metal by vessels making
slow time, because much is lost in interest on
the gold while it is in transit. The st. Paul will
carry consgnments by the following houses:
Heidetach Ickelhein.er a Co......~........ 10000
H. Won Honmann & co...,,..................- 'oo"oV
Total ........................ 50 10000
OF the s2s5OOOO sI.55OOOO was taken yesterday
from the Assay Office in bars-$l 100000 by Lazard
Freres and $4,000" by Heidelbach Ickelheimer a
Co-and 100000 il coir taken from the Sub
Treasury by the ast-namei firm. Lazard freres
had on hand $500 600 In oars. which they had pro-
cured from the Assay Ofiice ten days before, L.
Won Hoffman, IL Co.'S gold was also taken from
the Assay Office about ten days ago, but was
held pending bond ssue developments
YESTERDAYS GOLD TRANSACTIONS.
Yesterdays gold transactions beyond the fore
going included withdrawal of $685. 900 in coin
from the Sub-Treasury by F. S. Smithers q
Co. and a deposit Of $500. 900 IN coin in the SUB
Treasury by the Mercantile National Bank IN
exchange for greenbachs n addition Zimmer-
mann x Forshay delivered s50O,VOo IN com 10 tne
Sub-TreasuIy t. be counted and weighed Tnis
gold had been received by them from Europe py
La Gascogne. Ii was imported with view 70
using il in the purchase Of bonds under the syndi-
cato compact The ret loss Of gold to the Govern
ment for the day cured Out exactly 1000 ana
left the Treasury rese rye a; about s59,OOO.OOO
President william P s. John. Of the Mercantile
Bank. said he considered greenbacks as good as
gold and his bank took them because II had use
FOR them. II was said that the gold obtained by
Smthens CO. was fer Hsnry c,,sr "A: TagHd said me
gold was for customer lie declined to say VINO
the customer was
CAN TIE GOVERNMENT WAIT?
The talk on bonds centred on the question
whether the Government would ne able to walt
unit. February 8 the date set for the opening
Of bids before calling for gold. The opponents
Of the public Offering expressed the BELIEF thst
the Treasury reserve would be drawn down to
such an extent IN two weeks by demands Tor
export that the Administration would have 70
call on The syndicate for gold. or else borrow
from the banks and other large holders' IL
was conceded that there was enough gold IN the
country but il was declared that II could not
be drawn into the Trea sury by a popular loan
Figures collected by "1hP Journal OF Com
merce" and Commercial Bulletin showed that
the production Of gold in the tmted states III
1895 vas worth s530263i4 distributed as tol-
lows Colorado. $l5.0O0.G)0 California. Sl5.sOOOOO;
South Dakota A255oOO; Montana, A.3s2' 'oo;
Arizona $500 900: Idaho, s2.199.0OO; Oregon.
Alaska 81 100000. NewMexicO, Sl,0I5.VO0, ana
the balance in small amounts: Allowing re-
duction Of 10 per cent from the estimates tne
net output for 1895 was AS.OoO,OO0 against s3s-
800 coo IN 1894 and S3j 900 in 1893 The worlds
production exceeded $2Oo,OOO.OOo. a gain OF IA
Der cent over 1894 and 80 per cent over any
previous record.
The rate for money on call opened at per
cent advanced to s. declined II and closed at s.
These rates considered low under the cir
cumstances. The stOrK market was weak all
dav end the weakness was increased IN the
last hour by report that the German Embassy
in London had been attacked by a mob. The
same report responsible for n drop Of ~
cents bushel in wheat end likewise for a
decline in cotton.