The New York herald., 1921-04-30
GOLD IMPORTS ARE
GATHERING FORCE
SO, 900, 900 on Mauretania One
Of Largest Shipments
Of Year.
1921 TOTAL ssso,ooo, 900
South African Metal In To-day
Consigned to Kuhn, Loeb 3
Co. by Rothschilds.


night that tho Mauretania. saIlins from
tho other side to-day. would bring
100000 IN gold bars bought by the
Rothschilds In the open market as Il
arrived from it, producing points In
South Africa That shipment VIII make
the amount Of gold received by that arm
from South African sources since Janu.
ary I. 1890. exceed 3is5.ooo. 900. and not
dollar Of It has ocme directly or in
directly from Germany. contrary 20 re-
ports discussed yesterday In London
that lot Of German gold had reached
the United States
Including the shipment due to-day
which 10 one Of the largest single trans
fers Of the year. there will have arrived
In the United States or been engages
for shipment TO arrive approximately
$50. 900. 900 in the last month and moro
than 3230, 0,0O0.o 900 In 1921. The gold on
the Mauritania will not take the usual
course Of transfer to the Assay Office,
which has been congested for five
months and has been forced to send un-
assayed gold to Philadelphia and other
points by express, but It will be taken
to the local reserve bank, which will
credit Kuhn, Loeb q Co. with SO per
store the gold until such time as Il can
be assayed and subsequently, credit those
bankers with its full amount.
Although tho condition OF the Assay
Office ID relieved somewhat by the trans.
fer to the Philadelphia Mint and by tho
action OF the reserve bank with refer
ence to gold from England. It was stated
yesterday that three months would bo
required by the Assay Office to care for
| unassayed yellow metal stored there.
Relatively small shipments are still ac-
cepted by the Assay Office and immedi-
atoly aDayed. but amounts Of seven hS-
ures or more have to be taken else
whore. Nevertheless the state OF con-
gestion has caused little dirninution In
the progress Of yellow metal movements
from twenty-six different countries to
the United States.
The significance Of this. perhaps the
greatest gold import movement In the
history Of the United States. Is epitom-
ICED by the local reserve bank In its
monthly review Of credit and business
conditions issued to-day as follows:
Half Of the increase In the reserve per-
csntage Of the reserve system from
1914 per cent. on January to 55 at
present has been due to the inflow OF
gold from foreign countries since the
first OF this year" Nevertheless, the
country's stock Of gold. as estimated
officially by authorities Of the United
States In the circulation statement, n
still $60,000.000 below the peak OF
1905, OFT. 900 on July /. 1919. On April
/, 1891. that stock for the United States
was estimated at $S,001, ,487.915. and IN
the last thirty days a net amount Of
about $46. 100000 has been added to
that sum.
A continuance Of the import move
ment Of the yellow metal at present
rates should see a new high record
established for the country's Stock "
gold. In fact the gold supply held by the
reserve banks made a new high peak OF
$2.317,669.0 900 In this weeks statement,
published yesterday. It showed q gain
Of $268.236. 900 In 1921. In the first
third Of 1920 there was a net loss Of
$i12, $4,000 In gold through shipments
ports in March were $10e.222, 900.
imports Of gold will exceed $4,000
600. the largest shipments being from
Sweden. England. the Netherlands and
France. Gold imports in three months
ended on March 81 were $1SS. .00O. 900
and exports Of that metal were less than
$6.000,000 The net gain thus far thia
year II nearly three times the net gain
Of $107, 900, 900 In 1920. The following
table prepared by the local reserve bank
shows the amounts received from diff
ferent countries In February. March ana
the first three months OF this year: