New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1897-04-27
GOLD EXPORTS INCREASE.
SHIPMENTS FOR THE WEEK NAY REACH
THREE MILLION DOLLARS
PAIRING MAGouN & co. TO SEND 100000 TO HAM
BURG on THURSDAY IN PAYMENT FOR
SUGAR RECEIVED IN BOSTON
PROSPECTS OF FURTHER
CONSIGN MENTS

CONSIGNMENTS,
In addition 10 the 100000 in gold which Muller
schar & Co. of No. 81 Wall-st will send TO vienna
hv the Travc of the North German LLOYD Line
sailing to-day Barring Magoun q Co. OF NO ia
Uau-si will by direction of kidder. Peabody
20 Of Boston send $4,000 in gold to Hamburg ny
The Normanria of the Hamburg American Line
which sails on Thursday. There is POSSIBILITY nos
20 say probability OF further shipments by YES
sels leaving on Saturday. II IS thought the outso
Of gold for the week may reach $4,000"
II has been explained that the gold forwarded by
Muller SchaIl & Co is to be used in carrying out
the arrangement whereby Austria has placed itSe'i
on gold basis. This is special transaction on
which. IL Is understood. commission OF one-sN
tecnth Of per cent is paid besides all expenses
Carl Muller. Of Muller Scha 4 Co, said; we
have knowledge OF the destination OF our gold
II is shipped 'on order We simply had an order
10 buy and ship gold, and we filled it,
The shipment of Muller. Schall & Co is in gold
bars The exact value being $4,000. The bars were
obtained yesterday morning from the Assay once
IN Wall-st. As the Government exactcd a premium
OF ore-tenih Of per cent them. the cost of the
bars was se77 90. First Muller. Schall q Co pur-
chased an equal amoJnt OF gold coin at the Suo-
Treasury. which paid for with thousand-dotr
croerbacks The com was not taken from the SID
Treasury but receipt for it was obtained ana
turned over 20 The Assay Ofice. This mode OF pro-
ccGure was to comply with the Law. whisA requires
That sold bars must be paid FOR with gold COIN
The gold was packed in wooden boxes bound with
!ron. Each box contained $4,000. the boxes were
cartod away 20 the steamship rs soon as they were
ready.
The reason bars we're shipped instead Of coin was
tina: tie bars. even with the premium, were cheaper
.hsn the coin IN Europe the value OF gold from
America, whether in bars or coin. is determined by
It's weight and hneness. American gold coin is soid
mere by rs face value long as ii Is not aoraoed
In excess OF one-half Of per cent. The chances
Cor
less by abrasion of than one-tentA Of one per
cent the amount of he premium on bars.
The gold bars nearly pure gold d. 1t Is pos
sible 10 make them. They are called fine bars ana
they run from 9q5 20 800 fine. Each bar contains
5000 worth theres bouts. of gold. An ounce OF,
pure gold Is worth 500 81 Accordingly bar con-
gains in the ueighborhood Of $50 ounces.
The shipment Of $4,000 by Barring. Magoun & Co.
for Kidder. Peabody & Co. will presumably be 10
pay for sugar received in Boston from Hamburg. 1t
was said a the office of Barring. Magoun & Co that
st had ye, been decided whether to forward coin
or bars. -
There was an inquiry BY Lazafa FIsTss Of no. Ie
charges for bars and the amount OF bars on hand
plaiing exports. although they said they had not.
up 10 the present. made any arrangements 10 snip
late in the afternoon there was report that
i the memo n Le P%Seh sails
tomorrow morning. The report could not ne con,
hny 10 sh SToe Top from re 5e Some y bank FOR the
Treasury and Assay ofioe will be closed to-day
and there would not be time to procure II IRON.
either OF these places and prepare IL for shipment
before the departure of the Paris tomorrow morn
ing There are several banks with large amounts
OF gold I'm their vaults The foreign banking houses
Uhe gold-shippinS houses VIII be open to-day
The agreement among the large foreign houses
not to export gold until demand cXchanfc-bils
pavahle on demand-TeaChcd 4sS@l. was dissolved
Yesterday as a consequence of the outgo of gold.
There was an immediate drop OF onefourth cent
n mound in exchange. that the actual selling
prices made: Gable transfers. ass demand
bills ASA and sixty-day bills. 4s6i2. This drop
q he
change agreement was as much 70 make high
price for bills 10 prevent an exodus of gold.