The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1869-08-15

Increase in circuiaton. ........."." 44,252
Decrease in deposits. l,26T,297
Decrease IN legal tenders. ............ l,326,745
The precise relation between the liabilities and re-
serve is thus shown
August'7. august Ia
Deposits. $200.22D,00o $lv8,952 III
CrculatiOn ............... 33,94',9o' 33S9z,zo1
Total Liabilities. 1924, l6799j $232, 944, 968
Specie. .........>....... 26,O03,g25 24,l5i,449
Legal tenders. 56,056,SM 54,730,0S9
Total reserve. ........ $S2,O6O,1o9 S.ssS4.53S
Twenty-Five per cent res. 5S,54l,3gS 5S,236, 242
Excess over legal resve. s2S.5lS, 76l $20,64s,296
Decrease in lega! reserve since last week,
81, $40, 465.
The future OF the money market is engaging much
OF the attention of prominent and leading operators
on the street. and beginning TO excite among all
classes view OF Its uncertainties, grave caution
respecting time loans. Thus to-day, although money
call was freely offered at moderate rates, ranging
in extreme figures from five TO seven per cent with
the exceptions above noted commercial paper Of
long Date was only accepted with reluctance
and discounts ruled stllf even on prime names, at
eight to ten per cent In this connection the follow
ing extract, from the financial article OF an evening
paper OF this afternoon, contains matter deserving
consideration. 1t Will be seen that the writer bears
out what was said here yesterday respecting the
Importance of MIR. Boutwell, being more outspOken
regarding his intentions, to AFFORD proper OppOr-
tunity to men OF business to act inteigently In
preparing for the contingencies OF the next few
montls:-
The banks are not sanguine IN their calculations
upon the fall money market, and there would seem
to be very obvious for their placing them
selves in a conservative position. At the date Of
the last bank statement the Clearing House banks
held $780, 900 OF legal tenders reduced since then
TO $54, 730, 000-ED. HERALDh which may be viewed
as representing their resources for providing for the
crop movements OF the next ten or twelve weeks.
What may be the requirements or these move
ments may be best Judged trem comparison
associated banks held on August s74,OOO,OO OF
legal tenders, and that on October 81 the amount
10 5nt u Se Sn asa
tOber 10; and that in 1885, when the crop movement
came late, they held on September ss2 eoo 600 and
pears that for the last three years the with
drawals OF legal tenders from the New York
DanHs Nave ranged between C and
$500 600. Yet to meet such drain the banks hold
three cent certificates. Nor can 1t be said that
the present extremely low condition OF the legal ten
rency in active circulation 10 the interior, which
would lessen the drain on this city for crop move
en
ssa legal un tenders States wss notes very sye ss
out OF actual circulation in the South by close
boarding, that the active circulation outside this
city Is probably somewhat less than 1t was year
ago. An impression prevails in some quarters that
the west has found local use for Its funds this sum-
mer to large extent, instead OF allowing them to
remain here deposit, and that, consequently, It ID
not In position to draw SO large an amount OF
full inquiry, however, among banks doing a western
business, that their Western deposits are
at present larger than usual o for this
heavy demand from that section should the crop
movement require 1t. THIS comparison OF our
present position with our impending wants Is by no
means assuring. 1t suggests the probability OF our
being within the next sixty days placed under the
power of speculative manipulatOfs OF the money
market What may be the course of the Treasury
we have no means OF Judging. Its action however,
must have unusually intimate bearing upon the
condition of the money market and it IS not wholly
beyond the range Of probability that the government
may be called upon for greenbacks to liquidate
lieve, however, that Mr.. Boutwell, Will. as far as
practicable obviate any undue boarding of currency
In the Treasury.
The markets in Wall street to-day were generally
barren OF interest, extremely dull and with weak
feeling. The first sales Of gold were made on the
street at I341s, the price afterwards advancing to
134N at which figure 1t opened in the room, where
it shortly advanced to 134,< From this 1t declined
to 1881 free speculative sales, which 1t reached
shortly after noon, and between which and 1874 and
134h 1t continued steady for some time. Later
there was q rally to 134x on reports Of large
purchases OF bonds to be made by Secretary Bout
well In September and october ana st0ppage OF
gold sales after September. II was also reported
that at the next meeting Of the Cabinet propositions
were to be considered for the purchase OF Cuba and
would probably be adopted. Rumors OF decline
in the price OF bonds In the London market stated
on private advices, was likewise used to
aid In the advance. At the formal closing
Of the room the price stood at lS4x, and
ct four O'Clock 1347s. Cash gold as on yesterday,
was in active demand at intervals during the day,
the carrying rate ranging Irreguary from to B
per cent. Todays steamers took out IN all 100000