New-York tribune., 1879-10-18


The receipts for the week rs. 120612. and the
payments were 81. .425. 533. Except for the fact
that last weeks bank statement probably was made
up on rising averages for the specie reserve, the
foregoing figures would Indicate that to-mOTrow's
sta cmens would show large loss to the total re-
serves. Whatever tho statement may show as a
result OF the comparative averages, there is little
reason to doubt that the actual re-ervcs tonight
are less than they were a week ago. Money on call
during the week has ruled at sharp per cent, ex-
ceptug in two instances, when after the real
business Of the day balances have been
offered at less. On the other hand, bonus in addl
ton to the legal rate frequently paid-some-
times is much as Il per cent per day-and not
always only by persons in doubtful credit or with
poor class of coIlateras, although the discrmina-
tion shown by lenders was unusually marked.
The week notable for the spreading OF the
speculative fever. Before II had been confined al
most exclusively to the Stock Exchanges, but during
this week il has become epidemic az the Corn and
Produce Exchanges throughout the land. Prices
for wheat and have been rapidly advanced
until they a long way above shipping figures.
and the excitement at our own Produce Exchange
has affected ali the Western markets. Here No. !
red Winter wheat is quoted at 81 -, against
81 37i week ago. and No. corn nj Gl cents |
against 30 cents q week ago. At Chicago No.
Spring wheat Is about ~ 20, against abon 81 lOi2
"a week ago. These figures may be compared with |
95i2 cents for No. red Winter wheat, and fGl2 !
for corn at New-York year ago, and with 7s'2 |
cents for No. Spring wheat at Chicago October !
Il. 1878. Yet year ago it known that the |
Spring wheat crop short, and thus far this |
ycar-January to October 11-New York. Balti- |
more, Philadclphia and Boston have exported |
2s.OO00O0 bushels wheat and 1,297.522 |
barrels four than exported during the
same time of 1878. Furthermore. the supply of
wheat III sight at the principal points Of accumn-
laton October /. 1879, was 2O7S74l1 bushels, |
against I5.201, ,i2s bushels October IL, 1873 ; in-
crease, $50 9s3 bushels. The supply of corn Oc-
tobcr IL, 1870, was II ,037 5J9 bushels, against |
9.sO3.943 last year; increase, l,233,GlG bushels.
The present prices should aud probably will so
hasten shipments from The interior that the Atlantic
ports Will have their elevators than full before
the close OF inland navigation.
At the Stock Exchange the speculation during |
the carly part of the week was rampant. aud tie
daily'transactions in stocks reached unprecedented
amounts. Later there a sharp reaction of 395 |
per cent, which threatened to dlspirit operators |
compictcly but this effect avoided by the !
forcing of quick partial recovery. After that the |
market proved to be- unsettled and irrcgulaf with |
ucfuati0ns confined within a narrow range. Cen |
orally speaking. tie pi'os OF he actly. stocks are
lower than thcv were a week ago. But there are |
some notable exceptions to thus rule emong when |
are Canada southern with final gam of as, hoS-
Rapids and Northern 2, Erie and litisburg D, III
nois Central SIS. Lafayette. BooHirg!on and |
Mncc 7i2, Louisville and Na'hvi!le -, Lake
Shore q. Central oi N"w-Jerscy =, Northern IA
ciiic Il. and preferred stock Gl- -. lOuIs, Mar
sas CITY and Northern -, Atlantic and Pacific Tel
rgrapn (. and Western Union il2 per cent. Nearly /
al the stocks named. however dad ).d higher haI
the last prices which iurnish' d the final gains
ment oncd.
The total Transactions of the week amounted TO
23l ; ,O29 snarc-. against 2So1,2b2 shares Tor the
preccdi. week ant .. 2.536,S9l shares for The week
preceding that. E'i' STOCK. wl.h TRANSACTIONS ot
J3l .;Ej, against D1H,bb- sbaIcs ior tne nr'ct"ihE
week, huctuatrd between ~ and - 4, closing ~
:}9as. against 81 q week ago. Lake shore and
Micrigal Central sold us high - AMI 90 closing
at % Il aud -. The common Stucks of the granger
lines touched figures before unknown Tor thcin
since the fame Is Northwest corner Norihw", sell,
Ing nj ST., aud st. Paul 1915 closing at SSH and
7l3, lhc coal stocks were special features oi ii"
weeks spccuiatiop. and their prices rose 10 figures
thai ie most enthusiastic u"h oi Two N''Aff
Western Union aud Atlantic and PacIfc telegraph
stocks also attracted much attention. tne
latter up to ~. Their last prices wee
9-3, and 4Ol2 respectively. The SoGthweNtefn
railway snares were not hcIInd the grnel al market
in the advance early IN the week and they tarit |
nm"nf decline and later rallies. he iancie, '
Thesapeake ana ONO st Louis and San Francisco,
c. g. and /. C., Ind, Gin. and Lafayette, ONO and
Mississippi, cic.-werc a. strong as bettrr Stocks
when the maTke was strong and no " dkcf ihah
Others on the reactions
With the exception of some absurd stories abou,
connection between ihC western Union auN !
American Union Telegraph Companies. and even
more absurd statements ahout the coal trade. tha
demand for coal aud paper advances OF prices. the
week WAS noticeable for the absence OF ru1ors
intended affect the Ikct value ot s"cufti"s.
ilcnce the MARKET was moved mp or down accord
iug 10 the prcdonlnance OF speculative cr'ers
either to Ouy or sell. While ii is believed that the
large uptr ltors have been extensive srl"is ut
socks The general mprcs sion i, that they have not
succeeded "a unloading to great an extent that
thy can afford to lose conroi of the market; hence
there is a general expectatl of sil higher prices;
Toward the close oi the week there was a marked
- M IN. LI.,l-r in..l. .iI.arl.