New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1881-01-04
lex diyidcnd 100 per cent on stock.

The principal financial events of the year may be
Briefly stated in chronological order NJ follows:
January. There were no specially important
movements tins month. The New-Y0rk Central aud
Hudson syndicate, which WIS formed IN No
venbeT. 1879, disposed Of 100000 shares at l3l,
and syndca @ purchased 100000 shares OF Cen
trail Pacific stock. Money on call was stringent
early IN the month at per cent to plus ll6 per
cent, but at the close was easy at $40 per cent.
The New.YoTk Civ banks raised their surplus re-
serves from S7s3,S21 at the beginning of the
month to 1897, S23 at the end. Speculative
movements in gram and cotton advanced prices,
that exports were checked. and sight exchange
on London advanced from 81 81 to > 860$4 50.
The Bank of England rate for discount ruled at 8
per cent. , .
Exchange markets, and the speculation IN low
prices and newly listed stocks was a prominent
feature. Government 4l2s aud A. advanced to
lO0k010S7s and to 1O71iO1OG7s respectively.
The range Tor call loans was from to per cent.
The city banks surplus reserves rose to 81 1872 45O
and fell to S3,82S 100. A new coal combination
was formed TO the extent OF agreement as to the
days Of working each company being at liberty to
work to its full capacity during those days. Specula
tons in the products OF the soil still continued to
check exports, and sight sterling advanced to
$4.S7l2 The Bank Of England rate remain at
Morch.-The principal event of financial interest
this mouth was the liberal purchases of Govern.
ment bonds, amounting to x135l6,OOO, by the
Treasury. Money on call ruled firm ut 50O per
cent, with an occasional commission Of lI20ll6 per
cent during all the month. and except Tor the large
disbursements by the Treasury for bond purchases
possibly would have been positively stringent.
The city banks surplus reserves fell 10 $500, $50.
but the last week showed small increase leaving
them at $981175. The stock speculation, whilo
upon the whole 1t was strong, was affected by the
anticipation of an active money market, and It was
irregular. Governments bonds were frmer within q
range of fluctuations of about "A per cent. Large I'M
pOItatiOns and small exports had the effect to adj
vance sight sterling to 81 SSl2 and the probability
OF an early export Of gold Was freely discussed The
Bank Of England rate remained &c per cent.
APril.-The ITeas1Ty's purchases of Government
bonds amounted to $50, 100000. Yet money on call
was stringent, ruling all the way from per cent to
q per cent pins d commission. The bank reserves
reduced TO deficit Of 5000, 000 but at the end
Of the month the surplus amounted 20 1927, 45O.
Government bonds rather dull but their prices
held moderately firm. The stock market was feyer-
pressed, but never sufficiently 30 to create any uu-
easiness as to the future. With decline in the
speculative values OF grain, provisions and cotton
exports were stimulated and tho foreign exchanges
were easier, sight sterling closing at about s. STA
The Bank of England rate remained at 3 per cent.
Treasury amounted TO So, GOO 900. After the pur-
chase on the last Wednesday in the month the Sec
rotary announced that in the future be would re-
ceiye offers fer the sale of the 4ls and As well as
for the older issuea This announcement stimulated
the market for the new issues, that she 419s ad-
vanced TO 11Oes and the A. 20 &c., Money steadily
worked easier until the rata for call loans was eos
SIG, 12S 400. The month wes notable tor being tue
one in which the spring specuatlons eliminated
not only at the Stock Exchange, but
also In the merchandise maTkeis, On the
2Ist of the month the philadelphia
and Reading RGlToad CompanyB suspension wa
announced, and gave y tual blow 10 The situation
After that event steadier feeling prevailed and