New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1880-11-29
THE MONEY MARKET.
SUNDAY. Nov. 2e pm.

SUNDAY. Nov. % Pm
-ol,a fs5. Q SO. 473) of the imports of merchan-
this mort for the week ended yesterday was
az 90 9so less than for the preceding week. vet
60 20 f,,rre thaa for the SAME week of 1879.
xo14-9O more than Tor the week Of 1873. II
81 no remen, bered. however. that The entries az
y, C,sto, House last week were reduced by the
nlo orrival of several European steamers
~ from two to four days overdue.
T1e exports OF merchandise from the
- bowever continues on a liberal scale, the
loo for the week ended Tuesday, November 20.
tavine been s.. 1Gi. $50, OF S501,54S more than
~ the week OF 1879 and S1,3el,42l more than
t,r the week of 1873. The total value Of the
1oor,handisc importatious 1t THIS port from Jan
81 20 November - this year is 1872 1919
ordSt7i389.7i6 more than for the same time III
$50 AID 1873 respectively; while The total value
q tbe exports Of the port from January 10 No
Gambler % THIS wear rs only S5i.S7l,Gs6 more
,ban for tine same period of 1879, aud only
S5i404.701 greater than in ISIS The fol
loving table shows the tOtal value of the IN
norts and exports of merchandise a New-York.
and the respective balances for aud against the
mort. on the business since January /. for three
years: ,s-o 1sso
s 5s3 ss55 Ssesfs} YES 3 35s255
oi oU,-0-,uJ1 44,ApA,4to
Imports n Excess ... eo7l226o
The imports Of specie and bullion principally
oou ror the week ended yesterday amounted to
- 399.3J0. making total since August : OF
eq-33lOo. AID since January OF S55,627, 099
The imports and exports of bullion al this
mort since January % date for three years compare
a. follows: 20 ,eso
. cro-; l d72 81 5535 $50 4o755a
Tie orecoia 1 ats les show that the foreign move
neur Of values other than of securities OF the bus
ness since January this year, leaves a balance
against tGe port OF New-York of T1l7.7S5,932
while for the same time in 1879 the balance against
II was only So fj3. 731 and for the same time IN
ISIS there was balaGce in Its favor oi l3 LOGS
The weekly bank statement ri last makes an
exhibit of reserves that $105675 less than the
amount required by the rule Of % per cent. OF less
,ban 400 per cent. This showing however. Is of
tbe assoc.atsd banks. which INCLUDE state banks
that never rrofessed TO hold % per cent. and
some OF winch seldom carry than - or II per
cent III reserve. OF the National banks, not one OF
the large banks reports less than the required
amount and even the FIRST National. which here
+ofors has ,c. dom reported much as % per cent
nog report, 81 80 900 IN excess of that sum. The
reduction OF the deposits T634i.390 is 5000 GEO
greater than is called for by the other reported
changes. Accepting the averages which are It.
ported as approximately showing the actual
changes IL follows that the statement SHOWS that.
besides the absorption by the Sub-IreaSury OF
S2JJ3 sos ID receipts over its payments. including
payment, OF Assay Oli1e checks for imported bull
ion and forci-u coin, the banks have sent to
fine interior S1.I1SS05 specie, plus S97l,sO0
OF American coin imported dining the week. The
total average reserves for the week-specie and
le-ai-teudeis-are reported at S72,2761OO, or
S3193 700 more than the amount held al tae same
date III 1873 bat an increase of $40 0SJ,O 900 III
loans tae deposits that now the - per cent
rule requires a reserve Of $72.3S1.7TJ against
SGl,79>,s7j, the sum required a year ago. The
weeks movement results IN a loss Of $2,Ot7.3Zo 10
the surplus and leaves deficit OF 9lO5.67J
against a surplus Of 81 S3,525 al the same date Of
1879. The following are the comparative totals of
the statements Of November 20 and November p
Loans. ssi3S 900 ssIS52iyoo Dec ssogiao
fsss' eoacr sSs 9so7 Gs ZOO l RS as00
deposits 295s7,49o 2ss 527l oo De- dse< 80, goo
Tie following shows the relation between the
total reserve and the wa d.p,sit liabilities:
So s5o "a A2y % Dec s5 599s'
4oai 4cssTTc 5S5S5oS 5oS beS se55oo
...5. ,. e iS:so 7 Ss55 Dec Dec 5s55
1Dchcit
Compared with that Of the corresponding date OF
1879 the present statement shows: Loans in
creased sac OS5 600; specie increased I7,o61,2OO
Iegal-tendcra decreased S4.G73.5 800; deposits in
creased 2.331,600 circulation decreased
1885,. 600 The total reserve C;72.27G1O0) now
Is 2497 per cent of the total depos u AGAINST 25.Gj
last week and 27.96 for November 30 1879
The money market was the centre OF attraction in
financial circles during last week and while the
rates for discount of mercantile paper were not dis
turbed. the rates for call loans have been fully
per cent-the few and isolated loans made az pre-
MUM beng hardly worth menton.ug-aad the rates
for 80 days loans were also advanced 10 per cent
IL is not improbable that the banks have done what
they legitimately might do to help full per cent
market Az all events. IL is known that III more
than one instance banks have had 10 money" 10
loan on ca j. when at the same time the same banks
were unsuccessful in their effort 10 place large
amounts 30 days at per cent. This Is perfectly
legitimate banking, but II also IS practical guar
sntee against any undue stringencY 1t is probable
that the bugDear Of deficit 10 the bank reserves
Will be agtated to its fullest extent for spec
uative purposes. 1t also IS possible That
two or three large spectators may call
in loans t. the amount OF SO 900 900 or more. II
Is difficult to See however. how the money market
would thereby be affected beyond the Withholding
from deposit of the certified checks. as the idea that
$40 600 900 IN gold will be withdrawn from the
banks and locked up is now pretty well exploded.
WHAT the banks would do upon the discovery that
large amounts of certified checks were withheld
from the ciearances remains 10 be seen but 1t Is
certain shat they would fee none OF that anxiety
regarding their cash resources which they dld When
those resources consisted of greenbacAs 1stead OF
gold. A. TO the law that requires the National
banks to held % per cent IN cash Of
the amount of their deposits , 1t was
made for paper money and not for
real money: aud with some OF the banks for