New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1877-12-17

have been quoted for several months.
The rates Of Thursday were fully 13s per cent.
lower for fives, lis per cent. lower for four and
n half per cents, and y per cent. lower for
tours, with gold at 103is0 1888, than were
quoted III October, with gold at the same rate.
Yet a considerable improvement appeared on
Friday and Saturday, both in the price
of bonds and in the premium on
gold The Newark Savings Bank saved
itself by obtaining protection from the courts.
Several other savings banks were assailed, and
some were closed The National Trust Com
pany went into the hands of a receiver. Yet
the week closed with comparative ease in the
money market, with higher prices in the stock
market, aud with feeling Of increased conf
dence.
The bank statement OF Saturday showed
further decline of $915,SO0 in the legaltend
average. The outflow since the middle of July
has now exceeded $21 100000, and yet the
banks hold abot 81 600, 900 more in greenbacks
than they did at this time last year. Their cur
taiment of loans has been considerably greater
than the amount charged off during the year
as losses. That amount, for the National
Banks Of this city, has been about $4,000 600,
but the decrease of loans reported by all the
banks has been $40, 100000. Accordingly,
tho deposit average is about $ll 100000
lower than it was last year, and the Tela-
tive position of the banks is decidedly
stronger. During the week they have
increased circulation 10y $4GS, 400, the banks
reportine large changes being the Metropolitan
Bank, $4,000, the Park Bank, $4,000,
the Union Bank, 100000, the Third National
Bank $4,000, and the Mechanics Bank,
1913, 900 From the lowest point reached
in the Fall, the increase has been over $4,000,
600. and the soundness eof the advice given
bv us is shown by the fact that, if the legal
tender reserve were now smaller by that sum,
it would be little more than II per cent OF
the deposits Although the specie reserve in
creased s57I, 800 during the week, it is still
about $1,000, 900 smaller than it was at this
time last year.
Ii is very fortunate thing for business in
tereSfs that the threatened assault upon the
public credit was deferred until after the Jan
nary rcports and settlements. The small re-
coyery IN price of bonds since Thursday
is. in itself, of some consequence, ana
farther improvement may be expected.
But no general belief has yet prevailed
in London that the Silver Bill will pass
Very much lower prices for bonds, and higher
rates for gold would have been recorded,
had the Silver Bill passed the Senate
with a vote indicating that veto
might be Intellectual. The result, COM
ing Just before January reports and set
Elements. would have been very damaging
TO many corporations and the postponement
of action. until after those reports and settle
mcnts have been made, is decidedly beneficial,
and iustfes marked improvement OF feel
ing Moreover strong hope is entertained
that a month of discussion may render II
impossible to pass the bill over veto. The
threatened shock to the public credit and in
consequence TO the credit Of many corpora |
tons, is not only deferred; it is reasonable to
hope that the danger is diminished.
The collapse OF the National Trust Company |
produces the less excitement because Of the !
hone that depostors are fully secured I'm
happily there is less ground for confidence III
regard to savings banks in adjoining States
In New-Jcrsey, these banks are, by
new law, required to make sworn re-
norris m January, and there is appre-
bcnsion that. since so much Of unsound
ness has been disclosed in that state, and
themselves in difficulty, the number able to
make satisfactory statements may not be large. |
Disturbance from this cause may occur |
in January. In that month, also, alarm
in regard 70 the Silver Bill, and the effect Of
its passage upon many corporations, VIII prob
ably be revived. European negotiations also, |
may lead to large sales Of products held thus
far in hope Of advance in prices. But 1t Is
gratifying to know that, until after the |
HOLIDAYS. business prospects are compar-
atiycly far No b. nling or other dis
tmbancc, prior to yearly settlements and re-
ports, is now anticipated, and this ii ITSELF Is
. matter of ~ small importance to many cor
poratious which may hope to get through
another year in safety if they can make salts
factory statements Even the long-winded
orator, who advocate silver reputation are OF
some public service if they have caused post
poncmcnt of that subject.
"CATS IND DOGS'