The New York herald., 1874-09-20
FINANCIAL and COMMERCIAL
"A Moderately Active Stock Market,
Closing Firm.
C @ L ID 1 O 8 b
The Bank Statement and the
Money Market.

- uc Dduh SldSSIuSnI dIlO Tue
Money Market.
WALL STREET. !
SATURDAY, Sept 1916 p. NJ.
The point of largest interest in Wall street on
Saturday, during busy season which usually sets
An shortly after the lst OF September, when the
crops begin their active movement to the
board, IS
TIE MONEY MARKET.
SO far as to-aay's exhibit in this connection Is
concerned there is no change TO report In current
rates, which continue easy at to per cent lor
call, and to ~ per cent for prime short and long
date mercantile paper The prime interest, now
ever, centres in
TIE BANK STATEMENT,
"a rejecting in the currency movement hence the
extent of the crop movement nlther. In this re-
Spect the statement this week Is not an encourag-
1ng one unless upon the assumption that IN the
dearth OF activity in other directions giving EN-
ployment TO money as IL former years. that this
wear the different grain centres West md them
selves sufficiently in funds to postpone their usual
drafts upon the Eastern banks. This may account
for the OF any present dram upon our city
banks and the slight loss OF surplus reserve suf-
Tered during the week. Thus to-days statement
shows a decrease OF only Sill 675 in the surplus
serve, while the excess is still over twenty five
millions Subjoined is a comparison OF the aver
ages this week and last
Loans .ss5 ssps r. 500 s 1s O ped DGss sc
Specle-.... 1886, 100 l9952,l0o Inc. $4,000
Legal tend's 65,s2a9Oo Ga so4, 500 Dec. 52l,lOo
Deposits 237, $50, 800 236 $40 500 Dec. l04l700
Circulation. 25,6o5,7oo 25,e3S, 600 Inc. $4,000
The following shows the relations between the
total reserve and the total liabilities
sn... Sept r. Sep r. sco Deereces ss
Tot reserve ss6 $4,000 sS4, 200 Dec s4a2, 100
Reserve re-
qured ag't
deposits. 5s,47o,s25 5a,2G2Oo
Exc's OF re-
serve ab'v
legal re-
quirement 25,7lS375 %, ,54670o Dec. 17l,675
THE REDEMPTION AGENCY
ut Washington mas given notice that in conse-
quence OF the exhaustion or the five per cent tund
and the failure OF the national banks TO make
prompt and general response 20 the request for an
additional deposit OF five per cent OF their circua-
ton, it has become necessary to stop the redemp-
ton OF national bank notes Tor a short time.
at is hoped the redemption Will be resumed
within two or three weeks" The explanation
given for this inability OF the Treasury Department
60 carry out the provisions OF the Currency bill OF
the last session OF Congress is the want of sufi-
Cient expert clerical force TO expedite the work.
With the present plethora OF money at the bank
centres the delay in redemption is not likely to be
material, bat in an active money market IL might
work serious embarrassment The present ma
sonal bank circulation outstanding $780, $685. 600.
CONDITION OF THE TREASURY.
The bonds held at Washington to secure nationaI
bank circulation amount to 33s6, ,0540O TO Sc
public deposits SIG. 4oo, ,ooO Internal revenue
receipts to-day were s370,o0o Total for month to
cate, $5,575,00o. Treasury shipments for week
ending to-day were-Legal tenders, $3.50 900;
fractional currency, s7eo, coo. Treasury balances
Currency, s16,25o; coin, $7a. ooo less coin GER
tifcates, s2s, 100000
was extremely dull to-day and remained steady
at 1oess the only price of the day. In the loan
market Y TO per cent was paid to have gold car
ried with loans also made nat The Assistant
Treasurer paid out to-day So, 600 in redemption OF
fve-twenty bonds and s27, 900 interest account,
making total disbursement the latter account
for the week s2S1 900. The receipts to-day
were $233, 600, and for the week s., ,440, 000
FOREIGN EXCHANGE
was quiet, selling at 4.S3H to ASK for go days
sterling. and 4s6E TO 4.s6H for demand. The
specie shipments to-day were s3l2 los, gold and
silver bars. The Bank OF England gained on bal
ances fll,ooo sterling The rate for money on the
London Stock Exchange was per cent on govern
ment securities. In
THE FOREIGN MARKETS.
American securities In London were quiet, but
IN the main nrm closing at one. O'Clock p N. as
follows :-Consois, money, 92h a go Gle; do,
account, 92H 1855 bonds, old, l0sx 1887 1867
bonds, 1o9x: 1910 bonds lo41k: new fves, 104k;
Erie, 33. Subsequently, at two P. NJ, bonds OF
1856, DID, were quoted 10Sz; Erie preferred, 52z,
and Paris rentes, 63L Csc. Liverpool az dvces re-
port breadstufs dun.
GOVERNMENTS
here were steady upon moderate business and
closed follows Tinted States currency skies,
117 a117X do. skies, 1881, registered, III 117}s;
do. do, do, coupons, 1ls 11sk; do. fve-twen-
ties 1862 registered, 1l214 113; do. do, do,
pom 112k I12&; do. DO, 1864, registered, ia;
do. do, do, coupons, lis 115H do do, 1865,
registered, l14h; DO do, do, coupons, 115X
116h; do do, do, new, registered, lis 115H;
do. do, do, coupons, 115k 115ss; do do, 1867,
registered, lie l16A; do. do, DO, coupon, l16H
a117; do do, 1868, registered, 116E; do do, do,
coupons, 1l6L III; do ten-fortes registered,
1lo1 110x do. do, coupons, 1114 a 111h do.
ves. 1881 registered, liz 1924. do.do. do, co.,
p0ns, 111H ll2h.
THE STOCK MARKET
opened strong, ana, in cases, with advanc-
ing figures. Union Pacific was the strongest and
most active STOCK and advanced in the early deal
ngs to 251., the highest figure yet reached. After
Union Pacific, New York Central, Lake Shore and
Western Union exhibited the most frmness At
the nrst board Wabash declined a per cent and
Northwest n per cent, weakening the general
market TO o slight extent After midday a irmer
feeling prevailed and yhere was some recovery in
prices At the second call the market was gem
orally steady, while towards the close frmer