New-York tribune., 1879-12-29
THE MONEY MARKET.


SUNDAY Dec 2s-P NJ
Az is usual to the season, g occurrence OF the
CHRISTMAS holidays was not without its depressing
o.. nnnu the business Of last week. But the dis
,,os;tion {, speculate n anticipation oi higher
ronce Of values for general Werchandisc after the
Nv Year was not entirely rcprcSscd and prices for
.,ro5pce AID sraius were we'll sustained. Those for
10, proaincts were aided bv the pending strike
omong thc wand men at Chicago, alth1ugh Tho rc-
sul, of the packing business Mt the West ~
latest date December II since November l. was
9,46Q3O hogs against 3.563.s67 for the
same tim. M 1873 The speculation in
Grams has been varah'c. but with Geu-
eral tendency toward higher prices. On De-
cemher 20 the totals OF the visible supply of wheat
were reduced about 100000 bushels from the
orsn,itv iu sight on December IL. bat were vet
IL OoO. Ol0 greater than the visible supply Decem-
er2l. 1873. In speculative quarters it is con-
tendcd that the wheat crop of 1879 is nearly
all mark ted and is now in sight, while IN other
orarier, il is maintained that the farmers having
marketed liberal quantity, which has made them
independent have become moculated with the
srecnlative spirit and holdne mack large quanti-
ties for higher prices. In the meautme the export
trade Is retarded by the high prices, and
Great Hritain's immediate wants seem to be fully
supplied. The speculation in cotton was variable
with FINAL result of no material change IN prices on
Wednesday when the Cotton Exchange closed un-
tl Monday the Goth. Accord ne to The commercial
and FnaacaI Chroaicle the visible supply of cotton
December 90 was 9, $40 200 bales against 3O4 ,OOf
at the same date OF 1873. 2,3i5,761 at SINE daie
oflS-7 and . s35. .060 at same date of 1876. The
rec.ipfs OF cotton at the Atlantic and Gulf ports
snc-September this year were 2,sl4,ois bales,
against > 376l55 bales for the same time last year.
The eXparts from the same ports for the same time
were 521 .9Oi bales this year. against 1,265.s22
bales .ast year. Among the metals, the iron boom"
has continued with sales Of No. Foundry as high
osS35. which has increased the demand abroad, and
is likely To- encourage lively importation of foreign
iron. The coal trade. however. is even more than
usually anguid for the season. while stocks are ac
cumulating and prices weakening. although now
some of the companies-ihe Reading and those con-
tributory to the New-Jersey Central Railroad
have suspended operations until January ., which
will lessen tue output for the next two weeks.
In financial circles the week was an uneventiul
one Money ruled pretty steady at about z per
cent. with exceptions of comm ssons paid where
the character Of the collaterals or the borrower
was not entirely satisfactory. Time loans generally
were fully up the legal rate. ana mercantile paper.
which is scarce. passed at from To
per cent The announcement made yesterday
that the Treasury tomorrow will begin the pay
ment without rebate of the January interest had
reasSuring influence upon the markets, and allayed
an fears cf a strngcncy next week because OF the
usual pre- parations for the payments Of sem-annual
dividend. ami interest by the various corporations
Foreign exchanges have worked weak in a dull
market. but without quotablc change IN the Quota
tons n domestic exchange have steadily ruled
against New-York, and indications are wanting OF
any imlae Hate favorabechange IN that direction.
During the week ended Friday night the tfausac-
tons Of the Snb-ircasury included receipts OF
S7I23 O90 ard payments, Of S1.5J4.947 resulting
in gain to general balance of 1865 151, leav-
ingit nj S115.O55. .352, against $112, ,4S7,2O1 De-
oembcr 10.
The bank statemen; for this week shows further
loss of $2.O5S4J to the total reserve
$500. .7C0 in specie and Si53.700 IN legal
tenders The loans were contracted S513,JOO, and
the local circulation was expanded $4,000. These
changes acccnnt for reduction Of S3,253,3po in
the deposits which, however are reported as re-
duced SI.OJ1 400, making discrepancy Of
SsO3 600. which cannot be accounted for by tie
usual theory that that amount of country bank
notes was sent away. The payment of Govern
mon. interest next week cannot faii to have favor
able effect upon the next bank statement; but, If IL
is not followed by a change 'in the domestic ex-
changes that Offset can ONLY be temporary. The
result Of the weeks movement is reduction o; the
surplus reserve to $2123J0 or only 5000 OF per
cent of The deposits The following the complr
atiye totals of the statements OF December 20 and
December 27: