Nashville union and American. [volume] (Nashville, Tenn.) 1868-1875, 1873-11-26
MONEY MATTERS IN NEW YORK
From the New York Bulletin.

| IIOm NOW 1Orh
SATURDAY EVENING, Nov. .22-There
were fewer exciting ruiiiors current to-day
than yesterday. The foreign adviceS were
favorable, securities in London having been
firm and higher, and money having been
| down to per cent for prime three months
| discount. The Bank of England rate was
not reduced, but it is confidently expected
that it will be at an early day. The bank
is still gaining specie, having to-day taken
in on balance 92S.000. Here the event of
the day was the publication, for the first
time since Sept, 20, of the regular weekly
statement. In making up the statement no
account, however, is taken of the loan GER
titicates, the amount of which outstanding is
about S1S,000,000. The statement shows
that the banks held, during the past six
days, an average Of $50, $4,000 legal ten
ders; although now they hold S33,00O,0O0,
the average being a rising one. The other
items of the report are not deserving of
special mention. The following is a COM
parisOn of the statement rendered to-day
with that of last week, which was not made
public.
Nov. Is Nov. p. Differences.
Loans. S24S, 200 S24S, Os7 800 Dec. S655,900
fe eg ten $3.50 inc tnc
Deposits 500 167 967 200 Inc. 6,122 400
Circul'n q 1851 400 q ,299, 800 Dec. 81 900
The following shows the relation between
the total reserve and the total liabilities:
Nov. 10. Nov. %. Differences
Specie .S16, $50 400 S17 sos 200 Inc. 1898 800
Leg. tends 26,095,6OO 30,S99, 800 Inc 4,S04, 200
Toll rev'e $40 726OOO S4S, 46s, 800 Inc ~ 200
Circulation q ,357 100 q ,299 800 Dec. 81 800
Deposits 161 Si4,SOO l6T 1861 200 Inc. 6122, 400
Tot1 liabs1s9 POP 800 1876 ,261 200 Inc. 606i 500
% per cent.
reserve. Al ,30O,625 4S,Sl6,75O
Deficiency
in % per ct.
reserve. 4,574, 62j
Excess over
25 per cent.
reserve. 34S,250 Inc. 4.922, SIS
The following shows how the banks
stood, accOrdingSto the last statement rem
dered before the panic:
Sept. 20
Loans. ............... SITS, 421,7 700
Specie. ................ 1884, 600
Circulation. ................. 27,414,200
Deposits. ACKNOWLEDGEMENTS. 19S,040, 100
Legaltenders. ............... 34,3O7,9OO
The money market was easy to-day to
good borrowers on call, at and I per cent,
with exceptional loans as low as per cent.
Some of the weaker class of stock specula-
tors were compelled to pay as high as 1-16
OF one per cent per day. Mercantile paper
was in fair demand at u to Is per cent for
prime.
The transactions in gold were large, and
the market was feverish. The opening
price was 40, from which there was an ad-
vance to 1104, decline to 109a, and an adj
vance to 110i. Most of the business after
one O'Clock was at 1101 to 1109 The rates
on gold loans were all for carrying, and were
as follows: 1882, 1-16, 5-64, and per cent.
to per cent. gold per annum. The specie
shipments for the week amounted to $780,
40, principally silver bars. The interest
disbursements at the ub-Treasury for the
week amounted to S759,300; the customs
receipts to S1,707,700. To-day the Trea-
sury paid out for 500 bonds redeemed the
sum ofS510,000, and $40, 0O0for interest. The
silver disbursement to-day amounted to
$3.50. From Washington the tidings come
that Mr.. Richardson is graphing with an
other idea on the finances, which may be
called the twin of the five dollar silver re-
sumptive idea, and that he will bring it out
i'll his report to Congress as a recommenda-
ton. He said that specie resumption was
wanted and he gave us the five dollar plan.
He hears the demand for an elastic cuTren-
Cy, and we understand intends to meet it
by recommending the Treasury to print its
notes and National Bank notes hereafter on
india-rubber. This he claims will give
such elasticity to our circulating medium
as to render it unnecessary to draw further
on the ''S44, 100000 reserve" which he has
done "under compulsion."