New-York tribune., 1900-08-09
MORE THANHALF TOAMERICA
STRENGTH OF MONEY CONDITIONS HERE
SHIPMENTS OF GOLD.

Even more than half the new British loan VIII
come 70 this country Barring, MagoUn & Co. an
nounCed yesterday afternoon that the English Gov
ernment would alIot s2sO00Ooo Of the bonds TO ths
United States. The total amount of the subscrip-
tons received on this side OF the Atlantic exceeded
S55.000o0O that by pro distribution Amerf-
subscribers will receive about half the number
Of bonds they applied for In March last when the
first war loan OF fS0 200 00O issued, only about
20 per cent apportiOred to the United States
Now that the full effect OF the action or the British
Exchequer in offering half the loan to American
fnancers before the subscription lists opened
in England is becoming understood. attention is
more forcibly drawn To the financial power Of
the United States and to its prominence among the
great nations OF the world. THAT 10 this country
by prearrangement should have been allotted more
than half of an English Governmental loan Is IN
itself a striking tribute TO the resources q the
United States. while the celebrity with which the
offer was responded to is evidence that intsrna-
tionaI securities are likely 70 become feature Of
investments in this country.
1t is perhaps not to be wondered at that some re-
sentiment has been aroused in England over the
matter of the American allotments. It cannot he
consolirg to Englishmen to know that their Gov
ernment was in the situation OF appealing 10 an
other nation for apital And that Great Britain
needs American gold was bluntly admitted BY Sir
Michael Hicks-Besch himself in the House Of Com
Tuesday. The criticisms which some OF
the English newspapers have uttered seem 20 nave
been based mainly on the fear that the awarding
Of so large a part of the loan here would be con-
strued loss of prestige This was not tEe
view taken by Wall Street bankers yesterday An
swering inquiries upon this point they we're agreed
that Sir Michael Hicks-Beach had made a wise
move and that his action would tend 70 strengthen
England, both politically and financially by demon
Strating that countries disposed 20
work together. However strong England may oe
in itself. II is infinitely stronger when backed os
The movement O. gold to Europe began ysf yssssFf-
day. when s. $4,000 of the metal was shipped
Barring, Magoun & Co sent Sloe0oo0 by The Amer Amer
lean Line steamship New-4 ork and s. yV'eo, si
the White Star liner oceanic: Heidelbsch; lcSe-
heimer x co. consigned $4,000 IN goid I 0aTs ~ ~
More gold will go to-day -azard Freres have en-
gagged 81. 600 gold bars at the Assay once. an
& Co for 500 900, and by Heidelbach; Ickelheimf
& Co. for S1O.0l0 The last named amount i,I :
destined for Paris. Altogether yesterdays shes
and to-day's will reach an aggregate ..
S. 10000 Inquiries looking 70 further engagemeni
OF gold were made yesterday, and Il IS pro0aets5,
therefore that the outflow Will be increased az ~
end OF the present week and in next wees; Si;iS ~
forecast Is made by some or the metal snIPPgy.s snIPPg.
houses that the outward movement will Involve; =
gold transfer of at least Sl50o00c0 The opIaosr s i
expressed by bankers. however, tnSt Ne"-Lo.N N
in the happy condition of being able 10 meet -. -
demands without the drains upon its gold supgas-S
The United States at present Is well able % SPAR
gold. The Treasury holdings OF coin ana 9U1. ga
1000 The Clearing House banks in this CITY az az
reported to hold about S74S0O0oO while the 49, ~
holdings OF the National banks amount 70 20 - are
600. Consequently, the contemplated shipments 80 =
not expected TO have any unfavOrable eItscS ~sC-
further Inducements from the Bank Of Ensland ~ ~
gold importers. and further rise IN tne oL-S o-Scn
to-day. The Bank OF Englard's allowance OF I'm IN
terest in transit had stimulating enect ~ ySe
gold exporters. This allowance. which IL az ,T SIT
rate OF 3 per cent for nine days. tt is said W. VI.
attract gold from sources which had .s ~ or
steadfastly refused 20 negotiate engagements ."
Premium offers OF II. per cent were made yes
terday in several instances for the new 0''-'s-