New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1877-04-16
Rock Island
Western Union
Chic and Alton
SATURDAY, April l5-P. ".


The bank statement of to-day furnishes an
other illustration the deceptive character Of the pres
ent system OF reporting averages for the week instead
Of the actual condition at the close Of business Friday
The curtament of 957 100 in loans, loss In specie OF
$l.7l33OO, and a gain of 100000 in legal tenders,
apparently results in reduction of $685. 200 IN assets,
against Sl7730O0 greater liabilities, to wit increased
deposits. 1910, 500 and circulation $32 800 showing
loss the banks of i5s 100 This discrepancy posi-
bly, may be explained by the receipt Of National bank
notes. but i'll view Of the fact that the local circulation
has been increased $32 800, It is likely to be
fiction of the system. What secret reasons nave tho
banks for the continuance Of system which often has
been proved to be than useless source Of in
formation and which at the same time entails greater
labor preparation than would a simple statement OF
the condition any OF the six days. eacn of which
has first TO be ascertaned before the yacess average
can he madci The reported movement for the week
suits a reduction of Sl63,725 In surplus reserve The
legal reserve is 2911 per cent of total DEPOSITS.
against 2921 week ago; but deductng the specie in
full from the deposits the legal tenders % IL per
cent of the remaining currency deposits, AGAINST 2l47
last week. The comparative totals are as follows:
A? A} Decrease D;sEs?iS
4sHs iE?3 2 i3sSS nesas
Calculation 15.95l,9OO l596i.4OO Increase. 1880
The following shows the relations between the total
reserve and the total liabilities:
ss;s A sIsEsg Pee:
Total reserve. 6a,7G1,lOo s64.o3G,5Oo
AGAINST depsits. 5i.56i.6OO 54,9g6,725
above legal
SGiremcnts 9,2O3.5OO 9O3977j Dec. lC3725
The week ending with to-day has been prolific OF in
teresting and important events. The darkening war
cloud i'll Eastern Europe has encouraged an active spec
ulaon provisions and grain, both here and AT tho
West but this in turn has rather CHI cked actual move
mcnts the business being done by the passing Of ware
house receipts, while the stuff remains unmoyed For
the first time in the history Of the East aud West lines
OF railway, the Eastern movement is so limited that
empty brought here TO carry away West bound
freight To fully comprehend the significance OF this
anomaly it must be remembered that previous reports OF
such roads Central and Hudson, Lake Shore, and
Michigan Central have shown the Eastern bound tonnage
be from 81 to rs per cent Of the total that or
naiy return West light, and that there Is now no
extraordinary movement OF West bound freight.
Banks and all other trustees Of other peoples money
have received further lesson the danger OF lending
large sums on securities Of doubtful value, particularly
when such securities controlled by clique or pool.
The sudden but inevitable collapse of the speculation
in Rock Island aud Northwestern stocks came very
near precipita;ing panic and again the "bcars"
compelled to the rescue they after the
explosion OF Panama
The report that the Delaware and Hudson Company
had applied for the appointment OF receiver an
prices of its and Delaware Lackawanna, and Western
stocks But the prompt official denial caused partial
recovery, which, however, not maintained Very
justly much indignation expressed and active efforts
are being made to discover the originator which we
apprelend will not be difficult of accomplishment II dill
gently pursued. The claw Committee Of the Exchange
having taken the matter in hand showing commend
able zeal While all right minded persons must feel In
dignan toward the pcrperatOr OF this report and desire
him brought TO punishment, IT, alleged, there
existed foundation for it, 1t is peculiarly for the inter-
est OF that class Of operators who speculate upon their
opinions of the condition and future prospects Of the
different properties that the disturbing element OF false
reports should be entirely eliminated from the market
and therefore respectfully direct the attention OF tue
law committee" 10 the numerous false reports caicu
lated 10 enhance the value OF stock which nave been cir
cuated and since turned have been without tho
slightest foundation II not long since Central Of New
Jersey from about % TO IS. The rise hid pro-
nOunced basis which later developments proved 10 have
been not only false but TO knowingly some
had the amalgamation OF the Western Union aud
Atlantic and Pacific Telegraph companies rs good
completed only few days since, and probably made
handsome turn of per cent the stock OF the for
mer. Was there TIE slightest foundation Tor such
storyf II 20, it should be known before any
vestOrs frightened of their stock by the prospect
of long and ruincus telegraph war. Numerous
poration reports have been subjected 10 the anas
experts. who have unhesltatngy declared the figures
and conclusions presented by reports TO be false and
delusive aud unfortunately IN too many instances tho
opinions OF the experts have later proved TO be
Has the "iaw committee" troubled itself with the
examination OF such cases. Or does the constitution OF
the Stock Exchange limit It's action such false
as are calculated TO depress the price of secures This
whole question unlike the relative To the Lon
don Stock Exchange which lately has engaged the atcn
ton OF the British Parliament.
The money market during the early part OF the week
worked closer for call loans miscellaneous securities.
the reaching To per cent but later returning
T. Naturally, recent Developments have induced "a
much closer discrimination Of stock colaterals than