Evening star. [volume] (Washington, D.C.) 1854-1972, 1904-05-16
GOLD VAULTS ARE BARE
SHIPMENTS TO EUROPE EXHAUST
STOCK FOR THE FIRST TIME.
Over $50, 1000, 900 Sent Abroad Since
April S-Subtreasury Has About
/; $4,000, 900 in Coin.

Following the enormous engagement of
gold announced in The Star last week for
shipment to Paris this week. new amounts
were ordered Saturday, but for the first
time in the history of the United States as
say office in New York a situation devel-
oped where the officials were unable to
supply the demand
A dispatch from New York says: It was
announced early Saturday that the assay
Office had been depleted Of its gold bars
suitable for shipment The big vaults, the
shelves of which have been filled to the
ceiling in the past are now empty, except
for boxes of jewelers. gold and those sizes
used for commercial purposes
Orders came early Saturday for addi-
tional gold for shipment this week when
the news was circulated that the Bank of
France would accept gold bars Of less
degree of fneneSs than .994 but 1t was
found that there were left bars to the value
of only $2,5OO,OOO. All this was speedily
taken by bankers. who asked that their
names be not disclosed.
The result is that the workmen of the
assay Office will be very busy this week
refining gold Superintendent Mason ex
poets to have between $2,OOO,OO0 and 50, 600
600 in fine gold bars refined by the middle
of the week.
The engagements Saturday amounting to
81, 100000, together with the SSOOO 600 al
ready reported as having been engaged on
Friday, will very likely be shipped on Tues
day. This will be a record shipment IL it
leaves on one boat.
Since the movement began on April last
gold to the amount of x52.5O0.O0O has been
taken for export. The rush to ship has
been maintained almost daily, and the
reached proportions unparalleled in the his
tory of the United States.
$17O, OOO, 900 in Coin Available.
States assay office said Saturday that he
liar to the present one where the assay
office was left bare of gold bars.
Il remember, he said, that about ten
or eleven years ago there was a rush to
ship gold, but, of course, the reasons for
the shipments were entirely different from
those that ore causing them now. AT that
time if the government had not taken ac-
ton we would have sent out all our bars of
gold. To stop 1t we first placed tax of
10 cents on 500 worth of gold bars ex-
changed for export, but we found that the
shippers paid that amount very readily
Then the government took action and
stopped 1t entirely AS a matter of fact.
however. we had pretty low stocks of gold
bars at the time
Next door to the United States assay Of
fee is the big subtreasury building There
1t was said that IL shippers wanted any
more gold to sond abroad they had trifie
of $170.0OO,OO0 in gold coin which could be
spared.
$50 the assay Office has run out of gold, !"
said one of the government officials there
yesterday. well, the shipper can come here
and make their engagements in gold coin
when they are ready. There is about $17O,-
000, 900 here from which orders can be with
drawn. did not get the exact figures, but
learned in the morning that the action. of
the Bank of France in acceding to the de-
mends of the shippers to accept gold of
less degree of hneness than 1894 would re-
suit in taking every available bar of gold
out of the vaults of the assay office. Now
the shippers will have to apply here"
Movement of Gold Since April z.
The following table shows Just how much
gold has been sent to Europe since April Z.
when the movement started. and the
amounts shipped by prominent bankers:
T. T. morgan q Co.. va, 50O, go
Goldman. Sachs e Co. 6.625.O00
Heideibach Ickelheimer & Do.s....s... 5.250, 900
Royal Bank OF Canada .............. 2.600 600
Nttionai SlLy Ddnk x,OVvv0
Ledenburg. ThalmaDn 0o.......-..... 1,000. 900
Btring, Magoun & Co................. SOC, 600
IotAl - $Alsetesst)O
In addition there Is booked to 90 early In