The Independent. [volume] (Honolulu, H.I.) 1895-1905, 1896-08-28

direction OF the pole III ths IBh'
of his recent discoveries in the
Arctic circle DR.. Nansen is OF the
opinion that it would not be diff
cult, certainly not impossible to
reach tho North Pole in this manner.
WASHINGTON, Aug. 49,. President
Cleveland has officially indicated
that Viceroy Ii Hung Chang will be
the guest of the nation during his
forthcoming visit to this country, and
General Ruggles, stationed at Gov
ernor's Island, has been designated
to take charge OF the details of the
reception.
The Chinsse Minister returned
from New York to-day after seeing
General Ruggles aud ex-Seeretary
john w. Foster. The Chioese au-
thorties, recognizing that Viceroy
Ii is a guest, are loath to make any
suggestions as to his reception, pre-
ferring to leave the details with the
American officials. Thus far it is
settled only that the Presidents re-
ception of Ii will occur in New
York. As a result, there is come
doubt whether the Chinese Ambas-
sador will visit Washington at all.
The proposed visit of Viceroy Ii
to Boston has been abandoned also,
the present plan being to extend his
stay in New York because OF the
Presidents presence there and to
shorten it elsewhere.
SAN DIEGO, Aug. 19.-There is
great rejoicing in San Diego over
the news received from Chicago that
arrangements had been completed
between the representatives. of the
Togo Kisen Kaisha and the Santa
Fe Railroad Company for the estab-
lishment of line of steamers from
Yokohama to San Diego in connec-
tion with the overland route.
New YORK, Aug. 19.-Wall street
was agitated to-day by the news of
actual preparations for the early i'm
portation of 100000 in gold and
by statements that this action would
foreshadow an inflow of the yellow
metal on an extensive scale, the esti-
mates ranging from $l5,000000 to
$25, 100000. 1t became known that
certain leading bank Presidents, in
Guiding j. Edward Simmons of the
Fourth National and f. D. Tappan
of the Gallatin National Bank, had
been in conference regarding the
measure providing for the importa-
tion of gold, but no definite inform
alton was obtained as to the out
come of the discussion. The devel-
opments referred to followed sharp
break in the sterling exchange to the
basis of $4.35 for demand bills and
similar reduction in posted quota
tions by leading drawers to $485
and $4.86a. A small lot of demand
sold at $4,S5 as compared with $4.S6
yesterday, and large remittance
operation took place at H.S54. 1t
is variously estimated that there is
a profit in the transactions proposed
by Lazard Freres of ! to 4 percent,
but members of the firm we're indis-
posed to enter into such details. 1t
is said that the engagements referred
to are independent Of any combina-
ton, but futher individual imports
are expected. The growing expecta-
tions of the early imports of gold
has been previously reported. The
rapid break in exchange extending
to q cents since the close of the
previous week is almost entirely due
to the operations of the so called ex-
change syndicate. Uptown import
ers, being unable, owing to the
tightness of time money, to secure
discounts, are unable to buy mer-
chandise, and this fact accounts for
the limited demand. This condition
enables the exchange syndicate to
depress exchange to a point that
renders practicable imports OF gold.