New-York tribune., 1879-12-08
THE MONEY MARKET.


SUNDAY, Dec. 1-P. n.
The last week was more notable for the develop
pent of speculative spirit in the general merchan-
dise markets than for transactions which trans
ferred products from the hands of merchants 10
those of consumers. Notwithstanding that there
As larger accumulation of wheat at this port than
ever before. and that the price a week ago so
high that it was barrier to an export move
msnt. spectators have further advanced the
price fully cents per bushel The same
is true of corn and other grains All reports of the
markets speak Of an "active speculative demand
and absence of shipping orders. Not only is the
supply OF grain very large here but it is heavy at
other points also. The visible supply Of wheat at
the principal Eastern and Western points of accu-
mutation November 90, 1879. was 2s.217 500
bushels, against 16.200.0S5 bushels November 80,
1878 an increase of 12,0l7.765; of corn the sup
ply at the same date was 1O296,951 bushels
this year. against 7.53o.653 bushels last year
and Of oats. 3,026.4l7 bushels. against
2.455,966 bushels. The provision markets
were only less speculativelv active and ex-
cited than the gram market and
higher prices established all around. Yet the
supplies of these articles large here. and the
poTk-packing season has hardly begun. These
speculative movements. n continued. must have a
marked et ct the export trade during the
Winter and very materially reduce the traffic Of
the Last lnd W est lines OF DtlOW the
ticipatonS Of Sanguine stock operators.
In financial circles the week was characterized
by events of special importance beyond the meet
ing of Con ress and deluge of financial bills some
of which worthy of the support of sound linan-
ciers. bui the great majority of which pure
Quackery. Opinions based on the best information
thai Congress at this session will do nothing on
the financial question but talk. Money
ruled easy on call at rates ranging from
20 7 per cent on pledge of the
usual Stock Exchange coIlareras. and at about 59
6 per cent on Government bonds First-class COM
mercial paper Is steady at from 5l2 10 per cent.
The done exchanges have continued 10 rule
against New-lork at MI points AT CHICAGO the
rate al time fell 20 ~ discount, but closed at
90 cents discount. Foreign exchanges have been
dull bpt iiiin, and rates were advanced twice be
of the scarcity of commercial bills. The
transactions at the Sub-Ireasury for the week
ended Fr'dsv. December 8. included receipts Ut
81 5J6 179 and payments of 81 O3S. 1884, resulting
in reduction OF S3, ,4Sl 95l in it, general balance
and leaving il AT $1l3. 5O3.l71, against
Si16.9sj. 129 November 2s The particular
changes a loss Of IS. .4Sl .95l coin and gain
of SJ67uG currency. The imports of gold for the
same week amounted 10 S4,147.00O. The foregoing
the bank statement for the week. THIS compares
with the preceding week as follows:
IOans..... sa7s4sf,aoo s27sioI.ioo Dec. SIS, $40
Isssieadss,... .ia53I:oS iss5&9os, Dec 2.9Sss50S
Crcuaron ~ 23.J24.s0O 28255lO0 inc. 2SOSoO
The following shows the relation between the
total reserve aud the total deposit liabilities:
'572SS 5S 'S5 t54So Dec Dec sassSS
Total reserve. ss0Os2aOO ss9alI2OO Inc. ss6LsOO