New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1899-12-16
MONEY POURING OUT IN GIFTS.
( UNUSUALLY HEAVY CHRISTMAS SHIPMENTS
! SCARCITY oF STEAMSHIPS

UNUSUALLY HEAVY CHRISTMAS SHIPMENTS
SCARCITY OF STEAMSHIPS.
The annual Christmas outpouring OF money from
inns country into Europe has been going ahead at
hNeiy rate during the last few days. From all
'he country Christmas presents large and small in
amount, have been forwarded 10 this city whence
they continue by steamer their journey 10 the "old
folks In the mother country. Some OF the presents
are from Americans and some from foreigners who
are well on. but the great majority the gifts OF
those who emigrated here in poverty few years
ago and are at present earning living that is
modest but comfortable enough to allow the send
Ing Of cash remembrances 10 friends and relatives
across the sea.
1t might seem from this that the sum total OF
these Christmas presents would not amount to
much, but the contrary has been found TO be true
The steamship agents say that people do not appre
cate the extent OF these Christmas offerings, and
the bankers and postoflce authorities say the
thing According to Zimmerman. Forshay & Co, a
banking house that has handled for long time the
business Of furnishing bills Of exchange 20 these
donors IN return for the cash. at least 5000 900 will
be shipped Europe IN this way this year.
normal amount is about A0O00o0. and II is pointed
out that this remarkable increase is OF the
surest signs of the great prosperity prevalent
throughout the country.
You would not believe IT," said the reporters
informant yesterday. but almost all OF that money
chiefly from the Irish and Scandinavlans. who have
emigrated here. and don't believe there are many
Irishmen or Scandinavians in this country who do
not manage 10 send a present over, even II II is
only few dollars. The Italians send little money
over in this way. They generally keep what they
earn here and take II all back with them when they
go home to Italy for good"
The business OF sending these Christmas presents
or used 10 be managed by the banking departments
q me steamship companies. but later 1t passed into
the hands Of banking houses and now the donors
nave almost all taken 10 using the postofice entire
y and sending their gifts in the form Of postal
The market does not perceptibly feel the effect
or this outpouring of money" said a banker yes
terday. because the sums are small and come
Iioin such a wide area, but I am sure that these
Shipments nave some effect. The rates OF
chshge are not affected. but am OF the opinion
that IL makes changes in the bank statements"
Inc present scarcity of transatlantic steamships
combined with the Christmas rush OF mail has
! pidCtu an unusually heavy burden upon those
steamers which are still carrying mail these days
Inc withdrawal OF the White Star liner Majestic
Ior use as British troopshp IS one cause Of this
scarcity. as no steamer has been provided to AXE
ner place Another is the laying up OF the North
German Lloyd express liners for overhauling The
result IS n material delay in transatlantic mail
For the first time in the recollection of old post
office authorities mail from Europe has arrived here
from Boston: having reached that port on Thurs
DAY by the Dominion liner Withstand whence
II reached here yesterday by rail. A large mar
on the Majestic Il the latter had not been made
trOopship. The New-England carried almost I'M
precedentedly large mail the bags numbering 1910
whereas the usual number by steamer arriving
at Christmas. The postofnce authorities saw this
press OF mail is due to the enormous Christmas
correspondence, rather than TO any accumula ton
due TO Gripping OF the service.
They look for still larger figures in the mail which
week. O -O~