The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1874-02-08
General Business Still Waiting on the
Action of Congress.
THE BANK STATEMENT.
Interesting Facts Concerning Exports, I'M
ports and Foreign Trade.
GOLD FIRM AND MONEY EASY.
WALL STREET,

SATURDAY, rtD 10 r. VI.
More than usual strength exhibited in that
department. OF the market which comprehends
what are known as investment and dividend-pay-
ng shares, such, for instance, as Delaware, Lacka-
wanna and Western, New York Central and hudson
River, Rock Island, New Jersey Central ana Harlem.
This good feeling was somewhat reflected on the
iewer priced securities, but neither the specula-
lion in them nor the advance was OF character TO
elicit much comment. There are TWO reasons for
this CONDITION OF affairs. First-More capital has
concentrated in New York and is being offered on
demand loans than is wanted. individual capital
lsts rather than keep their money IDLE, are thus
tempted TO employ the same in the purchase Of
such securities as offer both
SAFETY AND PROFIT.
This process is now going on, and we see the re-
suit in the strong advance OF government bonds
and the line Of shares above referred to. Second
The dilatory action OF Congress- with reference to
the issue OF the reserve. and the uncertainty that
surrounds the question whether the amount al
ready put out shall be legazed or withdrawn has
practically blocked the wheels Of trade and specu-
lation. More money means expansion of credits,
over loading and another collapse. The cancella-
tion Of the $25 oOO 900 Of legal tenders the
re0ecupation OF a sound conservative financial
platform, and step nearer to the resumption Of
specie payments. Whatever Is to be done by Con-
no that business men may make their calculations
On some definite basis. When this subject is dis
posed OF then will properly follow the discussion
Of kindred topics having for an objective point the
rehabilitation Of our currency and the advance.
ment OF its value to par in gold.
THE COURSE OF PRICES TO-DAY
was indicative Of firmness. Consolidated Coal
opened at 4794 and closed at 49,. Western Union
sold at 76zs u 7ea4 tx; New York Central at
1o45t 1o4 1044 1o4'I lO4 Io4A; Erie at 4sI
q 49, a 49, Pacific Mall showed the extremes Of
<21 AK. The close, however, was made at 423..
St Paul ranged downwards from 4S to AK, ending,
however, at 4s. The preferred stock was STEADY
at 10 Harlem was 1rm at 1855 1881 129 a
l2sA. Lake Shore opened at s211 and varied only
per cent. Wabash sold at $50 a 5sh 531 :;
Northwest common at 591k 60. The preferred
stock obeyed certain speculative influences
operating for the moment, and advanced
from lax to 76k, the close being made
at 76H. Pacific Railroad Of Missouri sold at 4OS a
Al New Jersey Central moved from 1O7 to 1882,
closing at l0S Hannibal and st. Joseph declined
from 80 to 31a4. Delaware, Lackawanna and
Western ranged from Ito to lll9S. Rock Island was
nrm at 1878 1919 10s los 10S,.. Chicago and
Alton ranged from ITO to 113 c. c. and l. q. after
q day OF steadiness closed up drmer than usual at
80 Quicksilver ended at 341. Spring Mountain
eOal sou at 90, on ana ILLINOIS, central at
1861 1881. Canton moved up from 76h to so
1914.
THE BANK STATEMENT.
Not o little interest attaches to the weekly bank
statement, because in one sense it is key note Of
the financial situation. This week it shows
large increase in loans, amounting to 81, pa, 800
The increase in deposits is also considerable and
is recorded at $6s39, 900. There a decrease in
specie, yet it is explanable by the necessity OF
usual payments into the Sub-Treasury on account
OF import duties resulting from the demands OF the
spring trade. The following table represents the
comparative differences of the past and present
week.
Jan. "a. Jan. 81. Differences
Loans $269, 995, 800 s277, 237 100 nc$7,24l, 300
Spece...... 33,342. 100 33s220 700 Dec. III, 400
Legal tends 5s,s77,7OO 59,O52eOO Inc 175, 200
Deposits. 33.1l9 500 239, 1885, 800 Inc $3.50, 900
Circulation. 27,SgS,sO0 26,9o3,SOO Inc. 5000
The following shows the relation between the
total reserve and the total liabilities
Jan. 81. FEB. I. Differences.
Specie - $50. 342 700 $50, 800, 700 Dec. $l2l 400
Legal tends 5s,s77,7O 59,052,9oO Inc. 175,2Oo
Tot. reserve. 1872 219 800 1872 273600 Inc. $53 800
Deposits 206 119 800 239, 800 Inc. G, 500 900
Circulation. 26.S9S,S0O 20, SO3SOO Inc. 5000
Tot Liabilities $500 600 $685. 1852 800 Inc So S44 900
rs DC. resve 65,0U4650 66,7l5650 Inc. III, 900
Excess over
legal res. 27,2l515O 25,557,95O Dec. 1,657, 200