New-York tribune., 1880-10-02
THE BUSJNtSS or THE WEEK.

THE BUSINESS or THE WEEK.
Political considerations had much IN
fluence upon the money, stock and bona
markets during last week, and probably
will have great influence IA long as there is
serious apprehension that the National finances
may be intIusted to a Democratic Admins
tratiOn. No other cause threatens Immediate
disturbance in the markets, and money Is
abundant at low rates, although the surplus
reserve of the banks was reduced, according
to Saturdays repor,, to 81, ,643,07j. At this
time last year 1t was $2,569,35O. but the I'M
ports of specie were larger, and there was no ap-
prehenSOn OF their diSCOntmuance. The receipts
Of specie amounted to $491G,S66 during the
week ending on Saturday last, but the reported
shipments from Europe during the week were
not large. The Bank of England lost only
$40, 800 during the week, and the Bank OF
France only $1.2OO,O 900 But the imports of
merchandise at this port were comparatively
small, and encourage the belief that the very
large movement of the previous week will
not be continued Grain does not go
forward largely; the receipts of wheat
a. New-YOrk for the three weeks end
ing on Saturday last were only about
corresponding weeks last year, and the ship
mcnfs from Buffalo were also about 2,o0o'Ooo
bushels less than those of the same period
IN 1879 The exports from this city TOR me
three weeks ending ON the 22d were 3,S09,OOO
bushels. against G747, 600 last year. Never
theless, the exports Of ether products nave
been large, so that the aggregate value OF
domestic merchandise exported has steadily
and considerably exceeded that of last year
The exports Of cotton, in particular, Tor
twcnty-l0ur days of September, have been
$4,000 bales in 1880, against 4IOOO III
1879
During last week the Treasury paid out
81. $40, 600 more specie than 1t received, ana
fhr bqnks also reported decrease OF
81 1863, 100 III specie. This continued decline
OF the specie reserves here, Notwithstanding
the receipts of more than $4,O00,OOO each
week from abroad, deserves attention. Since
August l the specie balance in the Treasury
has declined $1O,3S2, ,214. and the specie in
tie banks has decreased about S5,0Oo,OOO,
and vet the god alone received mt New-York
from abroad has amounted to T24 G0O,5l7.
In short, $4,000 900 Of specie has gone out
of the city within eight weeks, besides
any sums received overland from the
mines. and besides about TS,OOO,OOO
in legal-toniers. A drain OF nearly
$4,000. 600 per week, continued for so long,
would have 0cclsioncd serious disorder, had
not resumption enabled the country 10 supply
its needs freely from abroad. Under ordinary
circumstances, a return movement would be
exppcted about the 1st Of October, but last
wear the increase Of specie in the banks was
about balanced by the continued loss OF legal
! tenders, from the 1st Of October until the END
| IF the wear. while the Treasury also lost very
1rgcly both in specie and in legal-tenders
The banks have a larger reserve than they
lad one year ago, by $1S. 100000, but they
are also far more expanded, their loans being
larger by $JO,0O0,O0O. even after the con-
traction IF nearly $1,000, 900 last week, and
! t.cir deposits beng larger by $6iSO0, ,OO0
Notwithstanding the contraction o. 81, 800
| last week.
Transactions in grain were moderately large
last week, though mainly for speculative ac-
count, ana with some decline in prices. The
| dry goods business, though less active than III
| previous weeks, was quite large, without any
tendency toward speculation. Provisions wele
weak, because OF the reaction from an artiti-
cial and speculative advance. Without much
| a.uvity there was a material decline in coffee,
aod sugar and tobacco have declined with
lorge transactions The volume Of business
exclusive of stock operations, though smaller
! ll.t week than in any other week since Au-
/ Gust, was still about IL per cent greater than
.hat of the corresponding week last year. al
| though one year ago transactions were much
swellcd by speculation III merchandise.