The Washington times., 1901-11-19
BIG SHIPMENTS
OF GOLD TODAY.
Outgoing Steamers to Take
S7,OOO,OOO Abroad.
RATES FOR CALL LOANS ADVANCE.
Confidence Disturbed by Van
SAINTS Threat Against Northern
Securities Company
clines in Union Paci-
fic and st. Paul.

NEW YORK. Nov. 1S.-Engagements
of gold for export by -tomorrow's out
going steamships. which viii touch at
both French and German ports, aggre-
gated the very large amount of $1,000 =
OO0 which sum, all but $1,0O0,GOO, is con
signed to Paris, the remainder going
to Berlin. Notwithstanding the mag
nitude of the gold shipments the ster-
ling exchange market reached the sea-
sons highest figures this morning.
Similar conditions to those existing
for the last fortnight were reported
namely. a heavy covering demand for
bankers bills and an inadequate sup
ply of commercial offerings. Exports
of gold had been generally looked for
by tomorrow's outgoing vessels, but no
such amount as was actually taken had
been counted upon.
Moreover. the unbrOken strength of
the foreign exchange market indica ted
that there might be exports Of gold di-
rect to London on Wednesday, in ad-
dition TO those generally looked for by
Thursdays vessels
Call Rates Increased.
The money market gave an immedi
ate reflection of todays heavy gold
engagements, and on call as high a rate
as 6 per cent was quoted The bulk of
the borrowing on call. however, was ef-
fected around per cent, To which fig
ure the majority Of lenders marked up
their standing loans. There was very
little change in the rates eXacted for
loans on time, a fact of encouraging
significance.
Transactions at AZ per cent for five
months for the account Of out-of-town
banks We're reported today. As against
the heavy gold shipments as respects
the money market. it may be noted
that the Sub-Treasury today distIib-
uted over S2,300.0G0 in the purchase Of
United States IS, and that the banks
have gained in their operations with
the Sub-Treasury since last Friday. in
Guiding the iast-named sum, about
$500 600.
Days Movements Irregular.
Movements in the days stock mar
ket were irregular but generally To-
ward lower level and occasionally the
dealings showed pronounced weakness.
The market opened with an uncertain
tone. and after a slight recovery broke
rapidly. y sasging tendency, marked
by occasional rallies. prevailed during
The greater part Of the day.
In addition to the heavy expectations
of gold and the advance in money rates.
speculative confidence was somewhat
Disconnected by this mornings intelli-
gence respecting the attitude toward
the developments in the Northwestern
railway situation, assumed and threat
ened by the Governor of Minnesota
1t would scarcely appear likely that
after the thought and labor that have
been expended upon a settlement Of
this question by the most eminent legal
authorities in the country. the Minneso-
ia Legislature. or any other similar
body. viii be able 10 find vital flaws
in the arrangement concluded.
Union pnciGc sInmps
Union Pacific, which is only Indirect
y affected in the attitude taken by the
Minnesota authorities. and St Paul.
which il would appear. is not affected
at all, We're tEe two railway stocks Sc
lected for attack in the days dealings
Declines which extended 10 nearly
points were scored in both instances. /
Some quarters Of the railway list
showed comparative strength but most /
of the actual advantages scored were |
shaded or obliteTated in the general re
action of prices. Cases in point were I
the anthracite coal stocks. Denver and /
Rio Grande, and Canadian Pacific.
Weak features, apart from those !
named, were the Missouri Pacific the /
Atchison shares. and Southern Pacific. /
The local traction stocks showed |
early strength, which tendency was 1
altogether lost. In the /
early dealings there were some smart |
advances among the specialists, partic- |
ularly in American Locomotive, Con- |
Gas. and Tennessee Coal and |
Iron but these stocks later on suffered !
with the remainder Of the market, and |
the same description was applicable to
the dealings in the industrial quarter. !
London Prices Lower.
London furnished a lower range Of |
prices for American stocks and on bal !
ance foreign houses sold about 1900 |
share In this market