New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1897-07-24
FURTHER DROP IN SILVER.
FIRST SHIPMENT OF GOLD IN TWO WEEKS
BOOM WITHOUT PARALLEL
PROPHESIED.

There was a further drop in silver yesterday
Commercial bars declined "a OF cent to 59A
cents ounce Government assay bars de-
clined u OF a cent to son cents an ounce. At
this last price. the value OF the silver In sill
yer dollar is 1892 cents. The low price for
commercial bars 80 cents. on March B.
1894. William c. Wilson. Of Fuller & Wilson,
bullion dealers, said:
The decline Is due to large offerings In the
London market Of American silver, combined
with an absence of demand from the East. The
production Of silver Is as large as 1t ever was
while the orders from the East are falling Off
London has not been able to absorb the Offer
ings from New-York at the market price.
good deal of silver was sold abroad several
weeks ago for July and August delivery. and the
existing demand does not begin to equal the
supply"
The first shipment of gold to Europe In two
weeks will be made to-day by La Gascogne OF
the French Line. The amount is SSOO'OOO, and
the shippers Lazard Freres. The gold
goes to Paris This gold was not obtained from
the Sub-Treasury. but from banks. l.. Won
Hoffman, e. Co. were to send 100000 In gold
by La Gascogne, but their order was cancelled.
The Lahn Of the North German Lloyd Line.
which sails from New-York on Tuesday next,
will take out 100000 consigned by Kidder,
Peabody & Co., of Boston. This gold will be
withdrawn from the NewYork Sub-Treasury
by Barring, Magoun & Co., the New-York cor
respondents of Kidder, Peabody CO. The des-
tination of the gold will be Vienna.
The reason for the resumption OF gold ex-
ports at this time is not entirely clear.
It is probable that premium. or the equiva-
lent Of one, is paid on the gold. The exporters
receive orders to forward the gold and receive
a commission for doing so. Further than that
they are not interested and have no knowledge.
II is certain that the international balance on
all accounts is In favor Of the United States and
against Europe II natural conditions prevailed
gold would not be leaving the country. Anyway
within thirty days gold will be flowing to this
country from the other side unless all signs
are wrong While there is an abundance OF
gold IN the United States the departure Of any
OF il has an unfavorable influence on the imam,
cial situation, or to be more exact on wan
Street So an influx OF gold has favorapIe
effect. ,. T.,
tho stock market a leading operator said AS
soon as the public realizes the chanseo coHuI-
tions affecting railroads and genera traoe, pe
cause of the large crops and high prices LOT
them and relief from tariff agitation, coupieo
with natural recuperation after four years OF
hand -to-mouth business. nothing can Keep uown
stock values. People nave ai'io.t
capacity of Western and southwestern roaus
IN earn money when the tonnage exists: Inc
expansion in the earnings Of these roads TINS
fall will be phenomenal. The managers OF me
roads know how to operate them economicany
after four years Of stern necessity. The South-
western roads are already beginning to show
increases in earnings Of thousands OF dollars
day over last year. This will soon be true OF
roads In Nebraska and later on OF roaos IN tiie
Northwest. When the large earnings begin 70
be reported in profusion. the public VIII come
into Wall street. and boom. perhaps WITHOUT
parallel will be witnessed