Arizona republican., 1901-09-27
GOLD TIDE TURNED
IA Million Dollars for Shipment
 to This Country
The Beginning of Movement Likely to Assume Vast Proportions-The New York Banks Filling Up With New Gold.

New York, Sept. 26.-Heidelbach. Ickelheimer & company today an nounced that they had purchased S500.- coo gold in Paris for shipment to this country. That amount. together with the s5O0.oOo engaged by the National City bank makes S1.0O0.000 purchased abroad this week for export to this country Bankers consider the move ment now well under way. and express the opinion that before the middle of nSxt month foreign gold purchases will have assumed large proportions.
 It is said that the Bank of France holds in its vaults large quantities of gold eagles, and for this reason the operation of importing gold from France can be conducted with less ex- peRse than by way of London
 c. Schumacher & company say that the supply of cotton bills remains dIs- appointingly small, while that of gram bills shows an increase over last week. Both combined, however. make but a poor showing compared with the aver age supply in the corresponding period of former years. Meanwhile cotton is accommodating all through the south and held there by the merchants and the local banks. all of whom are reported fully able to carry it until the European
 markets adjust themselves over the ! markets of this country. or vice yersi-
 This holding back. however, cannot last forever. and advices are that cotton will move freely in month or two. According to the known movements of money in the current week the local | banks have gained more cash than in any preceding week in months past Estimates range from SS,7oO.0o0 to 80. 1 100000. and tomorrow's bank statement from a stock exchange viewpoint. Is expected to be one of the most favor able ever issued
 | In their operations with the sub- ! treasury the banks gained in the neighborhood of S12. .000. .OO9 but his ul-
 usually large, expansion. which was due | to disbursements on account of bonds purchased by the treasury department
 and payments in connection with an.i- l cipated interest on government bonds
 was offset to the extent of S3,000,00o oi
 s4 4.00O 900 by excess of shipments of cur
 rency to the west and south.
 At no time this season have th. ] banks reported such heavy loss to tli, Interior. The only explanation is that they have been withholding shipments | in anticipation Of relief from the treas | ury department. Since the secretary
 of the treasury's announcement that h, | 1 by releasing several million dollars
 from the treasury's surplus the locI { banks have felt more disposed to meet l the demands of their country corrs- ] spondents.
 During the week the banks received
 new gold to the amount of $l,391 300. oi l which Ss16, 100 was in New York Assay l Office checks. S7cS.6c0 in Seattle Assay Office checks. and S67 .2c0 in San Fran l cisco Mint checks.
 Payments for bonds purchased by tn, i sub- b-treasury were S12,477 000. and pen sion disbursements amounted to sl. .960.
 900. Bankers are not disposed to ven 1 ture an opinion as to the showing c
 the loan item. although 1t is belieye' by many that in view of the fact tha
 the stock exchange has been closed tw' 1 days out of the week ending at tn close of bushes last Saturday that iteIi should show no material expansion. l On the other hand banks have beer very liberal in the matter of loans ! which is in marked contrast with thsi
 attitude the preceding week