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GOLD GOES; BONDS WILL COME. Enormous Exports of the Yellow Metal Cause a Slump in Values of Stocks-Another Bond Is ne Expected-Banks to the Rescue of the Gold Reserve. NEW YORK, July 21.-The sum of $3,380,000 in gold was withdrawn from the sub-treasury yesterday. Of this amount $3,030,000, consisting of $1,480,000 in coin and $1,550,000 in bars, is for export to Europe on to-day's steamers. The remaining $350,000, taken by Canadian bankers, was for use here. Extensive covering of short contracts steadied the stock market at intervals late in the day, but the feeble rallies invariably brought offerings of long stocks and near 2 o'clock prices in some cases were the lowest in years. The large engagements of gold for to-day and the increase in the number of shippers created an uneasy feeling. There were indications of the movement spreading and that Thursday's European steamers, unless all signs fail, will carry out round amounts of the metal. Burlington dropped to 63%, the lowest in its history, while certain of the industrials sold lower than in the panic last year. President Tappan, of the Gallatin national bank, late in the day secured pledges from New York banks to contribute in the aggregate $15,000,000 in gold to the United States treasury in exchange for legal tenders. KANSAS CITY. Mo., July 21.-All Kansas City banks yesterday ceased issuing gold, either in exchange for bills as payment of checks or withdrawals of deposits. Cashier Rule, of the Bank of Commerce, who returned from St. Louis in the morning, said the banks there will take the same action, The reason given by the bankers here for this move is that it was the evident intention of many depositors to withdraw their deposits in gold and hoard the yellow metal in the belief that it will go to a premium. WASHINGTON, July 21.-The heavy gol 1 engagements for export in New York yesterday caused treasury officials to fear that more will follow before the week is ended. The treasury gold reserve at noon had been reduced to $90,787,635. In the absence of both the president and Secretary Carlisle from Washington, no expression of opinion can be obtained from them, but treasury officials who possess their confidence do not hesitate to say that if necessary to maintain the gold reserve another bond issue will be resorted to.
