New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1881-03-21

AGAINST depss eLel7200 ests2s SS Inc lssSdo99
Compared with that of the corresponding date Of
$780, the present statement shows: Loans increased,
$5,769 900; specie increased, $4.111, 1905 legal
tenders increased, $3.50, 100; deposits increased,
49, 393 400; circulation decreased 500, 100 The
total reserve S71 703 200 now Is 1888 per cent Of
the total deposits against 25.1C Gt week and 1888
for March 20. 1880.
While during the whole Of the week, excepting
Friday, there was an abundant supply of loanable
funds at per cent or lower, there was an evident
absorption of money and each days surplus was
smaller than the preceding days-and this, notwlth-
standing yesterdays late farcical operations in
Offering money at and per cent. The foreign ex-
changes con tinued unsettled but rates were higher
and indications point to still further advances in the
coming week. Actual business In prime bankers
sterling is done at about 81 and $4s3l2 respect
lively for 90 days and sight bills. against g. 79k and
S4s1s q week ago. There has been no notable
changes in the domestic exchanges on New-York,
Eastern, Western and Southwestern frsts being at
discount, and at the South at nominal premium.
In commercial circles the spring trade thus far
has not proved TO be equal to expectations. Except
ing for gran the prices for all the great staples of
merchandise, such as iron, coal, wool and cotton
and their respective fabrics show declining ten
dency because of full supply and small demand.
The city is full of merchants from all parts OF the
country, but the complaint Is that in their pur-
chasos the country merchants are practising such
hand to mouth policy that the markets are not
relieved of the accumulated SURPRISES of the last
three months. This condition undoubtedly is partly
due to the backward spring. but knowledge of the
cause does not remove the fact that the situation is
not regarded as satisfactory in mercantile circles
While the condition of trade Is such as s described
the speculative markets are waiting for develop
ments and hoping for some event that viii revive
boom that now Is gradually dying for want Of
new stimulants.
In the stock market wise conservatism has taken
the place of "happy-go-lucky" speculation. The
business In stocks last week amounted to 1S69 $40
shares against 2,211 029 shares for the preceding
week bat very large proportion OF last weeks
business was nothing more than trading back and
FORTH perhaps half dozen times day. OF that class
of operators who seldomend the DAY with any i'm
portant outstanding interest The actual holdings
of stock are very little changed from what they
were week ago. Leave out the class Of trading
referred to and it Is probable that last weeks trans
actions would not amount TO much moro than
100000 shares The reason for this dulness Of the
market and apathy Of all those who are not inter-
ested in the speculation is clear. Although prices in
some instances are ruling considerably below the
highest figures that were reached in January
and February, yet the persons not possessing
shares reason that even present figures were built
on the expectation that railroad earnings would
continue to increase as they did in $780, and thar If
the maximum Of earnings has been reached the pres
emit prices for stocks with the LARGELY increased 6xed
charges show no margins for profitable speculation.
Bot, beyond this, special conservatism 10 encour-
aged by tho heavy extra expenses suffered by nearly
ali the Western roads by OF the delays and
damages sustained from storms. Again, IL Is urged
that late spring for the crops is on assured fact
and. while It is admitted that even that drawback
may be overcome by extraordinarily favorable con-
tlons later in the season, 1t is fact that does and
will prevent those out of specustOns from entering
them at present figures. On the other hand, the
present speculative holders Of stocks hoping toc
some act Of the Government that viii start new
BOOM In the meantime, there being little mar
ket, to attempt TO sell would DO simply to mark
prices down upon themselves. Hence the trading
market we have, and and such daily profits and
Losses as occur. affect none but those persons who
are looking for u or a per cent profit out OF their
felow-members Of the Stock Exchange. The week
closed with prices showing some irregularitee but
generally prices are lower than q weak ago
wEEALH RANCE or PRICES.