New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1881-01-10
A WEEbJS FIGURES.

A WEEh'S FIG OhEo'
| The largest transactions OF any week on
record closed on Saturday last with exchanges
nearly $25 ,OOO,O 900 larger than those of the
week ended December 4, and $1O7OOO,OOO
larger than those of the week ended Novem-
Der 81, 1880, and $190,60O,0OO larger than
those of /" Black Friday" week in 1869. Be-
yond question, the excess in that part OF
| the exchanges which is not due to stock
| speculation over that of any previous week
was even greater. The payments last week,
not arising from sales of stock, must have
exceeded $8OO,OO0,00O. As Monday followed
a double holiday, and was the first business
day Of the year, the exchanges reached
| $242, 646,6 20, the largest daily transactions
on record. Beyond the stock market the new
dealings of the week were not unusually
large. In grain. cotton, provisions and petro-
eum, the speculative feeling was apparently
abating, and transactions were moderate. Pay
ncnts of interest and dividends were larger
than ever before, however, and the magnitude
of exchanges not Arising from stock operations
was largely due to settlements on account OF
business done last year.
| The banks do not gain in reserves as rapidly
as many expected. Looking back two weeks
the hopeful persons who then talked of " the
"Trt asllry emptylng S21, 100000 into the
banks before january 10" will realize th'ir
extravaganza. The Treasury now holds about
SO. 100000 less than it held on Christmas
Day, but the banks have only gained about
500 900, although the imports OF specie
during the last week of 1880 were So, 152,7J3,
and were $1,77G.5S9 last week Not only
has this addition of 81 929,314 in specie, be-
| sides all that has come from the mines, had
no effect, but the banks and the Treasury to-
| gcthcr hold So 100000 less specie than they
| did on Christmas Day, and only %0OO,0OO
more in lcgnl-tcndcrs. This confirms the
view taken in these columns before the
January disbursements began. namely, that
the first effect of unusually heavy interest and
dividend payments would be TO take money
out of this market. Money will now begin to
return from the interior, but the Treasury.
which has supplied the needs of the banks
for two weeks 10y its disbursements. will now
| begin to draw in more money than 1t pays
out. The small amount of bonds maturing
January ! which have not alrrady been paid
only $G.f92. 900 were outstanding on the
1st-will probtby come in very slowly. Until
a rcfunding bill has passed in some form, the
Secretary of the Treasury cannot AVOID aCcu-
mulating the surplus revenue, and this viii
take not far from S3.000,O00 Der week from
the market.
Clear headed bankers, on both sides of thc
ocean, have evidently been but little mslcd
by the cxiravagant promises of extreme ease
End abundance in the moncy market. The
large shipment, of gold from Europe, which
have air. ady amounted to $2,eoO.ooo since
the year bcgan, indicate that low rates OF
interest her, are not expected 70 continue.
Like some previous shipments these represent
purchases OF American securities % sab Grip
lions t. american loans. rather than a recent
excess OF merchandise exports over Imports.
Hut the gold would not move hth'r-
ward If great ease in this market were
expected. Tuc Bunk Of France. att: gaining
in reserve for four weeks, "cg!r 20 !p,c agLu
last week, both in gnl and in silver. and
now hold, only 81 SO 1000 in god. Of
which. ut lltrs! mail adyicr,. only %:ii. 900
was ~ the central reserve al I,uls. Tie
! Blak of Eng.and. according to reports oi
withdrawals ON bal nee, mu'' has, It's {. in
AID hillion reduced to G2J. >UO.OOo a the
close of las week ,hout s 1.i3".too. Inc
! Bank OF Germany also lbs, lG, iOO.OOD marks
"a specie last week, or about 81, oOU.COO; IL
entire reserve appcu- to be cnly about
| +l2G, 800. 900. oi winch It is suppressed That
! :,lunt S,SJ,UO0.O0O Or more Is IN silver.
! Meanwhile. the Uutcd STAGE Treasury hoid,
T. ,ont 81, nm. IA gold rs the i ak 81 France
and The Bunk OF Germ. ~ together, with all
tlcir branches.