The evening times., 1897-08-25
'EnGtlsH COLO SHIPMENTS
Coin Not Expected to Be Sent
Soon to America.
TALKS WITH LONDON BANKERS
The Improvement An the British
Market of United States Securi.
ties said 20 be Principally Due
so American Buying-R Relations OF
Wheat aud Finance.

New York, Aug 25.-The World this
morning publishes the following from Lon
don:
II 10 not anticipate any heavy shipments
OF gold from England TO the United States
this autumn said Hugh Smith. the gov
ernor OF the Bank OF England, to the World
reporter today. There may be some
from the Continent. from France chiefly
bui as far as England is concerned, 1
see no reason al present 10 believe we shall
be sending away any considerable quantity
OF gold"
Mr. Smith, W no occupies the most coveted
ana influential position ia the banking and
financial community. received the World
Representative in what is quantity termed
the hank parlors, in the famous Bank OF
England l.uilding. The center or the finan
ci;l system Of the mercantile world.
eve fave a very far harvest here con-
tmued he. Not enough, of course. Tor our
wants, but more abundant titan tire avera ge.
Besides that. ft is probable the buying back
OF American securities by the United States
viii tend TO eQualize matters, redressing
whatever balance there may be-"
Then you consider there is no substan
rial Connection for the anticipation OK
heavy shipments of gold?''
mo, dcH't say that exactly: but can't
see any tangible ground at present for be
lieying exceptional shipments are going.
American exchange remains very firm+ lor
one thing and the American bankers have
seen on the matter do not consider anything
likely t.. happen to cause such shipments
from En- ngland."
Has there not been a substantial i'm
oroveu,ent in the market for American Sc
curities over here lately?''
"Dectcedly yes rec entity; but that was due
almost entirely TO American buying"
Has nc: tie English investor recovered
confidence IN American securities
NO; | should kay not. There has been
no change in that direction here. The
difficuhv Of the Baltimore and Ohio Rail
road Company has greatly tended t. check
any inclination there might have been OF
the kind That was concidered among the
soundest OF American securities, and the
trouble in csnnection with 1T has had a
had effect"
Then / may take it the banking opin-
ion hire is that American securities are
stiu uncertain and unreliable invest
nents?'
Yes: there is feeling that Arneri-
can finance is still in an unsettled con-
/ ait6on. There has been no such restora-
tion OF confidence as would he calculated
10 make any difference in the impression
as to youi original question, NY view, on
TIE whole. is that there is no ground at
present for expecting any substantial
movement of gold 10 America from Eng
laud-''
'.Baj wiz there not be large payments
| Coming due for wheat at its enhanced
value?'
Yes; but mainly from the continent
mol from England. where the harvest has
been almost d bountifHl one, and has been.
to a large extent, saved already"
II was Informed yesterday, Mr.. Smith,
/ by leading uthorities in the wheat trade
| that il il.'s broken weather continues the
harvest in the north OF England will be
| cravcly DANA sed, entailng increased i'm
ports of American wheat and further
rise in price"
well, / have heard the opposite. Be
SIDES that, they don't grow great deai
/ of whe;t in the north of England. at IL
! IS a TOO uncertain crop. They go in
principals for roots. No: financial affairs
will have to be placed on a sounder and
/ staadier basis in the United States before
| inves; nlPnt ia American securities again
begins here ="
The World represent ative next saw
Francis Raring. the present managing head
OF Baring's firm in Bishops gate street, who
are largely interested in the American
trade. OF Mr Raring he asked,
Have you heard that there are likely
to lie considerable shipments of gold TO
| America this autumn"
No one can really tell,'' replied Mr..
BarTng. There are large shipments OF
prodace coming forward, and there must
| hp money sent i'm return. hut IL is inn
possible 10 say to what amount of gold
| The cotton crop in the United States is
fairly good, and wheat will come, at any
rate, at gooG prices; l'at shipments of gold
viii depend ON ine market for American
| securities here"
'.ls there any increased disposition 10
deal in American securities shown herer
Yes. following New York. which leads
us in this matter. there have been large
dealings lately. ] should say there is
slowly growing confidence Though IL
is not very much so far, il is stln ap
prcciab,e, but il is not possible 70 give
definite opinion on the likelihood of
considerable gold shipments, as TO many
undetermined conditions exist. Besides,
yonr bankers in New York could prognos-
| ticate about il far better han we here"
CosTno Brown, OF Brown, Shipley & Co.,
in Lothbury, when asked concerning the
probability of heavy gold shipments, said
derisively:
"weII, that will depend on whether there
| is continued selling OF American securi-