New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1880-05-03
THE MONEY MARKET

80, 8e3 467 moro than for tho week Of 1879, and u
$3.50, 633 more than for the week Of 1878--tfe
gain in the value of the imports for the week eodc
May moro than equals the gain in exports, and ~
creases the balance against the port since January l.
The imports for the week GIL .439, 300 arc
$3.08S, $40 more than were the imports for tho
Same week Of 1870, and SO. los. OH more than for
the week of 1878. The total foreign commerce.
exclusive of specie aud bullion movements-of New
York from January to dates named for three years
compares as follows:
ss.s;:s
imports 1o,572,4sl
exports ...... .... e,scels2 eo.sAa.s&s
The general merchandise markets during the last
week were feverish and irregular, and while sub
ject to some speculative variations as to prices the
general tendency was downward, because Of lower
prices reported from Europe. The Liverpool wheat
market shows declines for the week ranging from
3D. to Cd. per 100 pounds, and corn fell
I'd. per Genital. Provisions also are gene
rally lower, both in Europe and here. The iron
market is demOralized by the quantity Of foreign
iron arrived and arriving The demand for anthra-
cite coal, even after the openingOf navigation, is
30 small that the companies have agreed to o con-
tinuation Of restricted output for two weeks
longer. Yet they talk about making another adj
vance in prices. Excepting that the machinery Ia
now less extensive and less elaborate it is diieult
to zee in what respect the present arrangements
between the companies differs from the old combi'
nation. which. after running the coal trade and It's
customers, finally, in 1876 collapsed. because h
also had nearly ruined the parties to the compact
The bank statement for the week shows some i'm.
portant changes which result In raising the total
reserves to 1920 per cent of the deposts. The ex-
pansion Of 81 500, 100 in the loans and gain OF
$1,000. 800 in specie and legal-tenders nearly
enough balance the gain Of $3,675.500 in dc!
pQsits to render it unnecessary to examine the
statement further in that direction But the gains
in the reserves may be fully accounted for without
suppOSing that the receipts of funds from the In
terror have exceeded the shipments hence. On tho
contrary, the fact that the gains amount only to
$4,000 900 rather indicates that the East has drawn
more than the total receipts from the South
and West. The changes for the same week
of 1879 were: Specie increase, $2SS, 100,
legal-tenders Increase. $4,216.O00; total 70.
serve increase. $4,5O4.10 This gain at
that time enabled tho banks to expand
their loans $S,26O,900 and still have a surplus
reserve of $14,375775, or $11.096325 moro
than the surplus reserve now is. The following are
the comparative totals of the statements of April
"a and May 1,
sas Ags e sassssee Inc P;sssts:
Epecie:::;;:.... sss'sss'e0S 5sa,9Soo Inc .3TSoS
5ssssiisS sSsissSS sS$i5S$S Inc s 5siSS
TIE following shows the relation between tho
total reserve and the total deposit liabilities:
s.sgs$Ss ~ Inc sss.Pss:
Ss d ii;S ss 9SSS Inc Inc s
s:Ss: ss5ss G 5sS Inc osss
Compared with that of the corresponding date Of
1879. the present statement shows: Loans
increased. $41.O7s,50O; specie increased,
$30 500 800: legsl-tenders decreased $32426,5 800;
deposits increased. S3S. 240.500; circulation In
creased, $963.100. The total reserve 1880 420, 500
now is 5000 per cent of the total deposits,
against 1888 last week and 31.75 for May 3.
1870.
Money during the week was easy enough at @ Der
cent all the time and at per cent part of the time,
all rates below per cent having been exceptional
and made for speculative effect little furry
casOned for day by the action of the Canadian banks
in calling in their loans but as no money thereby
was actually taken out OF the city, it amounted to
LITTLE more than the shifting of oans-a single days
unexpected disturbance. The foreign EXCHANGES
were more active and rates were advanced. The
domestic exchanges were without material change
until late in the week, when rates at the West
weakened, and although still nominally at premi-
um, not u sufficient one TO induce shipments OF
currency to New-York, while at Boston tho ratio
advanced from 40 cents discount to par.
The Government bond market was strong all tho
week through, and higher prices were realized.
particularly for the digs and 4s. But the business
was dull, the total sales at the Board amounting
only to $1.054,700. On Wednesday the Treasury
purchased 100000 of the and 8 per cents at
full figures.
The following are the highest and lowest prices Of
bonds for the week. and the closing sales Saturday
and O week ago: