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

Spectral Dispatch to The Evening Star
NEW YORK, August 2l.-The TRANSACT
tiCns of the stock market today were
chdraci erized by dcllness and the same
state of featureless trading that has been
apparent during he whole week. 1t Is
simply a traders market dominated by adj
Verse conditions. financial. commercial. po-
iticdl or otherwise. The reports from Lon
don were slightly better today and show
mat the very unsatisfactory feeling that
existed there yesterday, resulting from the
movement of gold, has somewhat subsidized.
bGt from the rromp; advance in the mar
ket price of gold bullion, however. IL shows
that the precious metal will MOI he readily
surrendered on the other side. This import
irS OF gold has caused much talk favol-
able and otherwise. and while the undls-
pated valuation OF the shipment this way
mas been admitted in conservative circles
sun on the other hand ii has been con-
demned just as strenuously in another
circle End mas been termed as a stock
Jcbbing scheme and was not In any WAY
warranted.
That 1t was not job to influence stock
has been iirmIy denied and from a source
that must Undoubtedly be admitted as re-
labie. Although IL is Well admitted that
THESE lnportations will not immediately
sho" 10 a great extent toward a culnina-
'i"h vi the present stress in the money
market, still at the same Tim, IL Is trtI.
mat continuation oi gold shipments this
way VIII tend to hop matters which An
thiS circle just at present are y,,ry had
OWING 10 the llShtnesS of the demand for
eish exchange was slightly weaker today
win actual rates as follows: Gable trans
ieis' fe"'4a'>6; demand 4S5I2a 49,, and
sixty days. 4Sii 2aiSls,
inucn from our iinal ira nSa ctionS with tb..
result that our initial figures were made.
with slight recessons
me market continued to sag during the
morning hours and was h.lne,i .Iop,, 81, !.
fcnlor TO the effect that a financial institu-
tion was IN trouble, which was denied as
usual and then the market became some
what better.
FEe weakness of Western Union Was
again very noticeable today. and selling
from The same source of the past few dave
causec me stock 10 decline from 1913 10
- y FURTHER talk in reference 10 whether
the company was earning its dividend was
again manifest
The granger roads continued to show
weakness, and the reports of the July u.r
earnings of these roads. which are now
due. Will undoubtedly not help them toward
an Improvement
In the last hour the market declined. TN.
bearlsh tactics OF the traders being due TO
the anticipation OF a bad bank statement
tomorrow.
Talk i'm Wall street.
by Associated Press.
NEW YORK, August al-Consilerahle
| uneasiness prevailed in Wall street today
on account of the report of distress among
the merchants and urgent need of financial
relief Estimates of a reduction of So
Wn"p to sa,Wo,Oo in tomorrow's reserve
| in the bank statement and of a correspond
ing heavy shrinkase in deposits encour-
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 a careful canvass of leading bank
| officials, and ELECTED a unanimous express
/ sion Of opinion that there was no need Tor
| en- 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 certifi-
| Gates. banker in close touch With the
l mercantile situation says that undoubtedly
l some of the merchants need money bur
that most of the large maturities passed
| off all right at the first of thu month and
| that most of the weak concerns have al
| ready been weeded out. 4 limited market
| is reported today for the choicest grades
| of mercantile paper at per cent. Time
| money Is an unknown quantity at q per
| cent and commissions.
| A private cable reports an advance of
| Is TO us lloyd. In the price OF gold bullion
| In London, and that the Bank of England
| has sold for shipment to the United States
1 f2oo.tW in American eagles at its lid
| LaZard Freres say that they have enga gei
| In all 2,5oo.Hu in gold for import TO this
| country. All of the gold comes from
| France. and Sl1to.ooo was shipped on the
Normandie. which sailed yesterday. Ev-
| cry dollar of it will remain In New York.