The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1873-04-13
A BETTER BANK STATEMENT.
The Deficiency in Reserve Reduced to
About Two Millions.
A Gradual and Stubborn Decline
in the Stock Market.
PRICES "OFF" l AZ PER CENT.
WALL STREET,

WALL STREET, |
SATURDAY, April 1916 I. NJ.
THE FOREIGN MARKET.
London quotations came better for consols and
steady for United States bonds, the day not being
holiday, as was reported 1t would be. Very little
business was done, however, in the interval be-
tween the Good Friday and Easter Monday hol
days. Erie shares were heavy at 5l1l 5l1s.
THE IMPORTS OF TIE WEEK.
The total imports OF foreign merchandise at this
port during the past week were $627l 25s. made
up of $,4sae5e of dry goods and s4,7S7,7o2 Of gen.
eral merchandise.
THE COTTON MOVEMENT.
The total receipts OF cotton at all the ports for
the past week were 4S,945 bales, against As, 637
bales the previous week, making the total receipts
since September !, 1872, 3,lo7,3 800 bales. against
$780, 274 bales last year-an increase in the present
crop OF COS, O46 bales The exports from all the
ports during the week were 60,467 bales, against
42,030 bales for the same period of 1872 The total
exports for the expired portion OF the cotton year
are 400 bales, against 1854 1886 bales last year
The stock at all the ports is 492, 2l7 bales against
33o,297 bales in 1872.
MONEY STRINGENT
The money market exceedingly stringent,
and the rate on Call advanced from 'commission'
OF e n per cent up to e per cent, which was
paid shortly before three O'Clock. Dealings were
continued until about twenty minutes past three
O'Clock, by which time money was offered at per
cent gold. In the transactions involving a frac-
tional bonus the loans were made for the two days
to Monday, so that the highest per diem quotation
would be 7-l6-equivalent to about 100 per cent per
annum. The rate meantime among the government
dealers had been plain seven per cent and the lead
ing houses reported that they had been offered
funds at this rate in large amounts during the day.
as II funds which had been taking the risk or
nsurious employment had been all at once diverted
to safer channels. Commercial paper was neglect
ed and altogether nominal. Foreign exchange was
lower at 1914 10s1s the asking rates for prime
sterllng but the market was demoraZed by the
strngency in money. The legal tenders outstand-
ing to-day are sass, 534 527, showing a reduction
since Thursday OF s26l,125.
THE BANK STATEMENT.
The weekly statement OF the associated banks is
favorable in SO far it shows gain OF a million
and quarter dollars IN the net reserve OF the
banks, whose deficiency is now reduced to about
two Millions which is pretty equally distributed
between the national and state banks; otherwise
the statement is an utter puzzle to the street. par
ticuary In the item Of deposits, which shows a de-
crease OF about three-quarters OF a million, when
the TACT is known that the receipts of currency
from the interior during the week have been
al least five and probably nearly ten millions OF
dollars decrease OF two millions in loans is only
partial explanation OF the Inconsistency. No one
can contemplate the matter without wondering at
the mysterious absence of the money. If it has
passed into the clutches OF the 'locking-upn con-
spirators, then their beyond the most
extravagant estimate OF Wall street An increase
OF half million in legal tenders indicates that the
returning currency is beginning to be of KIND
which will materially strengthen the banks The
statement compares with its predecessor OF the
IA