The Bridgeport evening farmer., 1916-07-20
ALLIES TO SEND $3,oOO,0O0 COLD
 TO BANKS DAILY
Shipments From Ottawa Are Expected to Total
 $4OO,O00,000

New York, July 20.-Banking cir
 cles learned yesterday that, while the
 British Government had shipped into
 this country approximately $200,00O,- 900 in gold since the first week of May, the mo, ement had by no means reached it's climax. According to ln- formation obtained by bankers, an av- craze daily consignment of $3,OOO,OOD
 may be expected to come across the
 border from Ottawa for an indefinite period, which may continue as long as six months. This gold will come to New York, and will be in addition to shipments to the Philadelphia mint from the same source, which have been averaging $1,5o0,oo0 a day for some time.
 The definite plan for s3,000,000 of imports each week day was put into operation last week. From Tuesday to Saturday, five days, a total of $15,- 100000 was deposited at the Assay Office to the account of J. P. Morgan & Co. Then came word to the bank ing houses that consignment of $2O,- 000,000 was on it's way from Halifax, direct from London, and Ottawa trans fers were temporarily checked because U resulted in the Government institution if more of the metal had been laid down on tcp ot the big shipment from London.
 It is believed that further substan- tial receipts will be received from Eu- rope direct, but these will be addition al to the scheduled Ottawa shipments. If the plan is carried out as prepared, | sc o1r nnI1c amount of the precious metal will find its way to these shores by Jan. l, 1917. Counting twenty-six days to the month, the fullf1llment of the pro- gram would shift into American vaults from Ottawa alone considerably more
 than 400,000,000 of gold which is now owned abroad.
 The manner in which Great Britain
 and her allies have been able to mo-
 bilize the vast amount of gold so far received, and still to come. is puzzling to many bankers here. It is known | that great deal has come from the
 mines of South Africa, which have produced approximately $4,000,000 a
 week for two ;'ears or more, and from Australia, where the Bank of England esta blished a special reserve in the early days of the war. As far as can be learned the bars brought down | from Ottawa have all borne the Ot- tawa mint mark, but this by no means tells the full story.
 It is supposed that the gold receiv- ed in bullion form from Africa, Aus tralia, and the Canadian mines has been remelted at the mint and this belief has given rise to the supposition that Russian gold has, or will, play a prominent part in the Allies financial plans on this continent.
 A recent report of operations of the
 Russian Treasury showed that some
 thing like $25 5,000,000 had been with
 drawn in period of few weeks. The
 purpose has not been made public. It
 would not be difficult matter for
 large transfers to take place between
 Vladivostok and Vancouver. The Brit ish and Canadian officials, however,
 have given no intimation that their Eastern allies are helping, and con
 lecture has to find stimulation in the
 fact that Russia's gold holdings before
 the war. began were second only to those of the United States.
 The tremendous movement of gold
 to this country, past and in prospect,
 naturally is having important influence
 in strengthening the credit of the all lied nations here. The heavy borrow ings by the various nations have been
 bolstered up by the gold reserve con- centrated here, and continued ship ments make easier the process of p1ac- ing other loans