The San Francisco call. [volume] (San Francisco [Calif.]) 1895-1913, 1897-05-01
Largest Shipment of the
Season to Be Made
To-Day.
Unsettled Conditions Abroad
Lead to the Unusual
Demand.
The Heavy Drain VIII Make No
PerCeptible Difference to
This Country.

NEW YORK, n. Y, April 30.-Four
million dollars in gold, the largest ship
ment this season. goes abroad tomorrow
and about million has already been en-
gagged for shipment next week. Under
ordinary circumstances we should not be
sending gold abroad in It's usual direction
before May or June. This year, however,
the outward movement began earlier be-
cause of the opportunity to discount usual
conditions. The unsettled condition of
Europe in the light of the Eastern sltus-
ton has bred disposition TO get more
gold, and since conditions are in favor of
getting it the exchange is only slightly
below the figure at which an outward
shipment is commonly said to be profit
able That is ordinarily put at 81 S434,
and Thursday exchange was 81 S712 to
81 S72l Foreign houses wanted gold
badly enough to pay the slight difference.
The outgoing gold is all consigned to
port towns and its exact destination
is not definitely known. Russia is known
TO have ordered large quantities of gold.
Greece took FL, 000, 900 from the Bank OF
England, but the banks holdings in
creased during the week. The greatest
demand is said to be on account of Vienna
and Paris. Austria has been for a consid-
cradle period accommodating gold 10 en-
able the country to 60 upon gold basis
next year. l. is reported that she needs
10 complete her pre- parations SIS. 900 coo.
The supposed commercial relations be-
tween France and Austria, coupled with
the fact that Austria could not readily
get gold from London, Led Paris to take
gold from availa BILE sources. Japau's
want will be supplied manly from Eng
land. 1t is asserted that Austria's wants
will DE satisfied within week if there is
another heavy week. shipment from the
States.
The excess of imports over exports from
January 1 to April &c was Sal, log, 600.
The total imports for this period at this
port we're 1852, $40 600, an increase of $l04
431, 900 over the same period in 1896. This
Is largely due to the pending tariff bill
The balance of trade, however, cannot
be taken as an absolute indication OF the
trend of the gold flow. Aside from other
influences, the figures in the balance sheet
take no cegnizance of the exchanges con-
stantly passing between this country and
abroad. These are mum beriess, and the
exact SldLS VI lueIn Is uOL ueuHlteIy
known.
Rents and interest and dividends are
steadily going over the water to foreign
owners of property here. Queen Victoria
herself owns property in New York. Great
mum bers of American travellers in Europe
expend lots OF m oney there which has to go
over in gold.
A good many millions in gold could be
shipped from the States now without
making the slightest difference to this
country: 1t has been said that $20, 600, coo
will go out during the present movement,
but the sum will not be missed. The
Treasury has more than S54 coo, 900 in gold
above the 500 900, 900 additionally held in
reserve. The associated BANKS OF this city
hold $67. 600. coo in specie of which almost
all is gold.