Evening star. [volume] (Washington, D.C.) 1854-1972, 1896-08-21
FINANCE AND TRADE
Discussing the Importation Of
Gold.
CONFLICTING OPINIONS IN REGARD TOIr
Dizziness is the Feature of Specu-
lative Operations.
GENERAL MARKET REPORTS

Special Dispatch TO The Evening Star.
NEW YORK, August al-Tae transac-
tiGns of the stock market today were
characterized by Gunn.ss and the same
state of featuroless trading that has been
apparent during ;he whole week 1t Is
simply a traders market dominated by adj
verse conditions. financial, commercial po-
ltcdI or otherwise. The reports from Lon
don were slightly better today and show
that the very unsatisfactory feeling that
existed there yesterday, resulting from the
movement of gold, has somewhat subsidized.
pG' from the rromp: advance in the mar
ket price Of gold bullion, however. IL shows
tndt the precious metal will MOI be readily
surrendered on the other side This import
!fs OF gold has caused much talk favol-
able and otherwise, and while the undi.-
pated valuation OF the shipment This war
mas been admitted in conservative circles
SUN on the other hand il has been con-
demnel Just as strenuousy in another
circle, ana mas been termed as a stock
1cbhinS scheme and was not ia any way
warranted.
That IT was not IA job To influence. stock
has been firmly denied. and from a source
that must undoubtedly he admitted AS re-
labie. Although ii is we'll admitted that
These lnportations will not immediately
sho" 10 great extent toward a cuIrnina-
uoh oil the present stress ia the money
market. stiil at the same tirn, il is trI.
lhat continuation Oh gold shipments this
way VIII tend to hop matters, which In
inns circle just at present are very bad
OWING TO the lShtnesS OF IN" demand for
ign exchange was slightly weaker today
with actual rates as follows: Csbi,. trans
feTs. isSs4aI>,i; demand 4S5i,al 49,, and
sixty days, 4Sil eaISlS..
London quotations today did moi wary,
lhucn from our iinal transactions with rh,.
result mat our initial figures w,r, mad.
with slight recessions
me market continued 10 sag during the
,ao' INNS nSurs ami Was helped along by d
cHioF 10 Inc effect that financial institu-
t'oh was IN trouble, which WIS denied as
usual and then the market became some
what better.
The weakness of Western Ipi,r ,,.,.
again very noticeable today and selIin,
from The same source of the past few dave
caused the stock 10 decline from 1G3-S Ia
- y FURTHER talk in reference To whether
the company was earning its dividend was
again manifest
The granger roads continued to show
weakness, and the reports of the July nat
earnings of these roads, which are now
Que, VIII undoubtedly not help them toward
an Improvement
In the last hour the market declined. the
beaflsh tactics OF the traders being due to
the anticipation OF bad bank statement
tomorrow.
Talk in Wall street,
by Associated Press.
NEW YORK, August 2l.-Consiaerahle
uneasiness prevailed in Wall street today
on account of the report of distress among
TIE merchants and urgent need of financial
relief. Estimates of reduction of So
ou,'tu to s3onpo In tomorroW's reserve
| in the bank statement and of a correspond
L heavy nsit
aged the expectation of an early issue of
clearing house certificates by the banks
| and it was reported that a meeting Of the
clearing house committee had been called
to take action in tine matter
A representative of the Associated Press
made careful canvass of leading bank
officials, and elected a unanimous express
sion OF opinion that there was no need Tor
an Issue OF certificates at the moment, and
that such an issue would only be made IN
case of extreme necessity. No meeting has
been called TO consider the issue of cerlifi-
| Gates. banker in close touch With the
mercantile situation says hat undoubtedly
some of the merchants need money but
| that most of The large maturities passed
of all right at the first of the month and
| that most OF the weak concerns have al
| ready been weeded out. 4 limited MAJ ket
| is reported today FOR the choicest grades
| of mercantile paper at : per cent. Time
| money is an unknown quantity at q Der
| cent and commissions.
private cable reports an advance of
| Is TO as. lolzi In the price of gold bullion
| In London, and that the Bank of England
| has sold for shipment to the United States
4 t2nsD in American eagles at 1,s. elYd.
| LaZard Freres say that they have engaged
| IN all $2,JOo,1U in gold for import to this
country. All of the gold comes from
| France. and S1.GWou was shipped on the
| Normandie, which sailed yesterday. Ev-
cry dollar Of it will remain In New York.