New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1880-04-26
THE MONEY MARKET.
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The passtng weeks show iittle or no dim1nuaou
in the excess of imports over exportsst Fsw-1sxs
Neither the imports begin TO show amy material D.
| cline nor the exports any material increase. ron
| the week ended yesterday tho yslue OF the
imports OF merchandise ct this port tS1o. SD
was $4,159.043 greater than for tho sazno'
week Of 1879. and SO, $50 III greater than for tho
week Of 1873. On tho other hand. tho exports Tor
| tho week ended April 20 valued at $7.5S5,6SW
were only 81 1854 greater than for the same
week Of 1870, and only 1884, 971 greater than for
the week OF 1873. The imports OF Ne~-York THIS ar
this year are $81, ,691 more than for the same
time in 1879 and $780, 837. 915 more than in 1878;
while the exports are only &c. 212652 moro than Tn
1879, and are 81, $685. 6S1 less than in 1873. Tho
total foreign commerce of Eew-York from January
to dates named, FOR three years, compares 20 fol-
lows:
4s III 's5s;ss
imports ..........,. 1122sols
The foregoing figures are likely to commapd
attention later in the than thew do now
To write that commercial and mercantile anafm
are In entirely satisfactory condition Is as useless
as whisthng against the wind. Merchants ano
bankers know that AFFAIRS not entirely sstisfac-
tory; that legitimacy in commercial matters has
received o severe check from speculation II is NOS
enough say that mono but spectators are hurt by
the late heavy declines in the prices OF breadstuns
provisions iron, etc. Even il that was absolutely
true, which it is not tho unreasonably high prices
have left behind them sting more potent then
failure in speculation Fhe high prices ut which
breadstufs were held checked exports, until now
Western Europe Is 50 well suppIed from other
that prices there fall even faster than they
do here. On the announcement that the break on
tho Utica level of the canal would require over two
weeks to repair there recovery IN prices at
the Produce Exchange, but yesterday 1t was an
uounced that the repairs will be completed to-
morrow and navigation resumed on Tuesday.
The great "iron BOOM" which was mentioned
with such genuine satisfaction two months aud
three months ego, carried the price Of iron to over
$40 per ton-result: Great Britain, in the three
months ended March 81 shipped to the Unit States
1856 379 tons of iron and Steel against DOB tons
in the same time of 1879. 1t is possible that Great
Britain will not realize the highest prices for this
Immense shipment-much of it may have been
shipped on English account for market-but it Is
here TO compste with our own manufactures and it
would not have been here except for the high price
which invited it The markets for other metals are
only lcss demoralized than is that for ron for which
prices during the last week have suffered further
decline. The coal trade is in a condition which re-
quircs constant nursing. Notwithstanding that tho
second Curtailment of production is now
in progress. prices for coal are not sus-
tanned at circular prices, and when
those are once broken under there s no knowing
bow much the reduction is. The companies give
ont the most positive assurances that they are In
perfect accord one with another, and that produc-
ton will not be permitted to OutsrD consumption,
and that prices Will be advanced Thus far the
companies may 60, and if they were all in the con-
r4nln
out of debt. with no first charges-the ground
taken would be tenable But With the other
companies tonnage is as important price per
tom and until it can be coDtrived that the COM
panies may command the consumption as fully as
they now may the production, We have little faith
in their perfect accord" accomplishing much for
the permanent benefit of the trade in general or OF
the companies in particular.
After the first days of the week money worked
easier aud per cent the outside rate for loans
call secured by the ordinary Stock Exchange col
laterals, with fair amount OF business done at
and exceptional loans at 4. The rate on Govern
ment bonds was 495 per cent. Time loans arc SOC
per cent and discounts are nll at about per cent
for best names. Among the domestic exchanges
the only notable changes of the week were an cd
vance at St LOUIS to 90 cents premium and ut BOs-
ton first advance to 333 cents discount and later
q decline to 40 cents discount The foreign OK.
changes are in an anomalous condition-very dull
and during the last week short sight reduced a
cent to the 6 in the face of more active money
market in London. Toward tho close rates were
steadIer If not firner.
The popular feature of the weeks bank statement
is the increase" of 81 1854 $50 in the so-called
st,, plus reserve. The actual cash was increased
only Sl0S 9OO-a gain of 81 900. 100 legal-tenders
less loss of 81. 067, 200 specie But by contrac-
tion Of IS. SOL 600 IN ouns, the deposits were re-
Il % HAITI I'm nf noa nIr0A
to comply with the rule OF 20 per cent? 81
less than the sum required "a week ago. Adding
to S SasS che 81 nerease to
the surplus reserve. BY way of q comparison, it is
notable that for the same week Of 1879 the surplus
crease of 81 259,2 200 in deposits because the 40
tua cash reserves were increased SIS, 9O4 300 The
changes of last week still leave tho banks, as o
whole with o reserve less than per cent in excess
OF 20 per cent OF their dcDDsits The following arc
the comparative totals OF the statements OF April
II and "a; ~
+ A2s2 Dec ssssss1sss
fSSsicndcr; :: 1855 900 Isl 9,ioo Inc. ,sss'ioS
sSsisoSS sSSI$sSS Dec 5000
the following shows the rel ,tion between the
!i:s E:: $E::j
Ss ,ssS r.s s,s,,
Compared with that of the corresponding date Of
1879 the present statement shows Loans
increased, $47, 7S9, 800: specie increased,
$50 755, 500 lcg.-enders decreased, 500 zoe, 400;
deposits increased. $44 3S2, 800; circulation in.
creased 1905 200. The total reserve 1864 700
now is 25.S8 per cent of the total deposits,
against 25.2l last week and 31.02 for April 20,
1879
The Stock Exchange markets were unsettled and
irregular all the week. In Governments the total
business at the Board amounted to $S06, 500, and
prices were somewhat firm. On Wednesday tho
Treasury surprised the street by accepting
So, OOO. 900 of the bonds that offered instead
of 5OO On0 which had heeu the amount of tho