New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1915-08-11
S33,OOo,OOO GOLD
ON ARMED TRAIN
DUE HERE TO-DAY
$1S,OOO,OOO American Sc
curities in British Ship
ment to Morgan.

More than S33,OOO,OOO in gold coin
and nearly $1S,000,OO0 in American Sc
curities-a a total Of about $4,000, 900
will arrive at the Grand Central
Terminal early this morning from Hall
fax. The money is consigned to J. P.
Morgan & Co.. as part payment for the
war supplies purchased by this firm
as commercial agent for the British
government This is the largest single
shipment of gold ever sent to New York
from a foreign country.
The gold left Halifax yesterday by
special train, and upon its arrival here
will be delivered to the Sub-Treasury
in twenty-five motor trucks of the
American Express Company. The money
will be deposited TO the account of the
Morgan firm. The securities, it is un-
derstood, will form the basis Of fur
ther credits which will be extended to
Great Britain.
With the greatest secrecy the treas
ure was taken from the vaults of the
Bank of England and conveyed in a
British battleship across the Atlantic
to the Canadian port Every possible
precaution was taken to secure the
safety of its arrival.
Canadian secret service men guarded
the unloading Of the bullion and its re-
shipment in the special train. The
Canadian detectives were on duty as
far as the border, where they turned
over their burden to armed guards OF
the express company.
"An effort is being made to relieve
the exchange pressure by this SHIP
ment of gold" said Robert +. NJ. Cowle,
vice-president and general manager OF
the American Express Company, yes
tcrday. whether there will be fur
ther shipments we cannot state now.
This is the largest single shipment that
has ever been sent here; the largest
previously was SAT 800, 900, sent in from
Denver to the Sub-Treasury last win
ter.
"The creates. care was exercised in
bringing the gold safely TO its des-
tination. There has been a good deal
of secrecy about it. but this was deemed
necessary while such a large amount
was being transported"
The previous high record for a sin
gle consignment of gold from foreign
port to New York was made on the
Lusitania eight years ago 'when on
November 3, 1907, S12,36l, 900 was I'M I'M
ported to help relieve the panic: The
shipment referred to by Mr.. Cowle was
a domestic transfer.
No information could be obtained at
the Offices of j. p. Morgan d Co. yes
terday concerning news dispatches from
Halifax and Bangor, Me-, that Dig
shipment of gold was on the way, con-
signed to that firm. One OF the part
ners stated late in the afternoon tna'
nothing would be said until TINS morn
ing. 8,
In banking circles there was a dis
position 70 discredlt the early reports
that the amount OF the shlpheht was
500 OOO, 900, but it was not thought un :
likely that unless some other method
TO strengthen the foreign exchanges
was soon adopted this amount OF gold
and much more would have TO be shipped
to this country, if foreign purchases
are TO be continued at the present rats.
Since January l approximately SloS'-
600 900 has been imported from Canada
of which sum Morgan & Co. have re-
ceived about $55,C00,000 The receipt
of to-day's gold shipment will bring
this up to almost $96,OOO,OOO.
Evidence that the present shipment.
of gold is "only a drop in the bucket
compared with the amount necessary
to counteract the weakness in the for
eign exchanges was presented yester,,
day in the dropping Of sterling and
franc bills to new low records. De-
mand sterling fell to 4.75 and franc
checks to $50. Lires were also weak