New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1877-01-08
SATURDAY, Jan. 6-P. ".

The advent Of 1877 has failed to redeem the
promises made in It's behalf Neither commercial, ncr-
camille, nor financial circles have witnessed magical
transfofmatiQn but the contrary the week has proved
much like its predecessors presenting small scope
+ comment.
The transportation que ton which was daily gaining
in public interest received incentive from the AT
tenon given toU by the and canal authorities
OF this state TIVE TRIBUNE IL in receipt OF numerous
communications upon the subject, and it is singular az
well az q suggestive coincidence that whsle those from
this city and commend lis course, those dated at
Philadelphia and Baltimore express themselves well salts
lied with the recent settlement % between the trunk lines
and maintain the equity OF those cities having lower
rates than NeW-York Admit the pTactciblity OF rc
proposed method of rebates for equlIzng tue inland
rates nucl produce aS may hereafter be exported
Which, however denied by the best authorities ia such
maiters-whrre is the Chicago owner Of produce the
most likely TO corsgn Il ITO David Bows e Co. Of Bal
tmore where goes at The fixed rate of 30 cents per
100 pounds with full liberty to be sold for home con
sumption or export, or 10 David BOWS e. Go. If New
York al 30 cents taking the chance Of collecting back
il2 cents from the railroads In case 1t happened to ne
exported 30 days six months hence! PhiladepAians
and Baltimorrans seen TO understand the practical
working OF the advance rate, and it Is time
the merchants of this city copprehended it. Again.
IN the case OF westbUund freghts, there l. no pre-
tense but that the discrimination against New
York Is - per cent the rate in favor OF
Baltimore Why not Is the subteriuge OF through
bills OF adng" and rebates" this class Of business
thin play upon the cOmmunity' IL Is not for the
interest ,cwYork CITY TO encourage through bills OF
ladinE." New-York wants 10 import and export, by
and sell as advantageous any other city may do.
and except for inflated railroad capitals representing
NO To the actual cost of the properties she
could do free from the complications and restrictions
posed ticabe practicable contingent " re-
bates" She must either 10 tais or not only sc her
f,l h,th ftP4
In financial circles the notable event Of the week
continued decline IN gold until Touched 1864 closing
but y higher At time since the establishment Of the
Gold Exchange has the precious metal been 80 com
pIctely commodity subject alone tn the law OF supply
and demand Lacking a commercial us Il is heavy TO
carry at per cent interest and SINKS of its own weight
The receipts foreign ports during the week
nnmporiant. It is not unlikely slight change Ia
existing would start active speculation from
the present price.
Tile money market has ruled active during the week,
aud as yet fail tO discover any indications OF I'M
mediate change. For he 1rst hae the banks report
greater NJ specie in their vaults than o! legal tenders
Under the present system this specie being principally
special deposits, of avail To the bIDSs, FOR
banking purposes than many trunks Of silyerw1re.
Set It counts ~ legal reserve" making the total lhs
week 3J.35 per cent against o. last. Deduc;ing the
spec from deposits, lie remaining currency deposits
have lcgaender of 1884 per cent. against
40 80 last week. Tho comparative statement fol-
lows:
Dec. 30 Jan. 6. niacrencea.
f0ans .32S 500 S2Ii 500 100 Increases ILL., q
Sp.cic... 1913, 3..a7UfaO Iucrtase 5,.y2l 90
hS ;Ss. s $ 50 5SS Ih ass s$S
Circulation. iG,-dt.OO lD,5Jo4UJ Increase 2Ji,iGJ
Inc following shows the relations between the total
reserve aud the total Liabilities:
Jan. q. Changes.
specie .&9S Oip. 90 Sca310 500 Inc SJ;aI 90
legal t.uders. 1878 100 80 2ra2OO inc 30e q
Total reserve; sCso2i'so @73o5iOOo .S5.c-o2oo
Reserve
Against dep ATS 53,llJ,EI0 90, lSJ,soO ........
LAVcasOf rtsIlgC
above iespl
1rremcats. li,900je5 l8,itS,l00 Ine.... siS,57j
ON the stoeh Exchange speculation recely cal
pcns with the incoming year, end until Friday prices