New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1881-08-22
tV IUIIO"IIIg dTe Ihe UOIaIS OF the StatementS al
the corresponding dates for preceding wears:

The monetary situation experienced a sudden
change i'll the course of the week, From apparent
extreme ease the change to unusual stringency WAS
almost magical. From per cent at the close
of the preceding week the rates for call loans
at the Stock Exchange went to per cent
on Monday OF last week. and on Thursday To
$3.50 a per cent plus interest These extreme
rates brought into the loan market soma outs;do
funds so that later the fair market was DER cent
the late business of Saturday lower not heinz
representative OF the value of money. The change
should not have been as for several weeks
the condition of the bank loans and reserves clearly
indicated it. But when it did come it was more
violent than it would have been if the rates had NOT
been Kept down by mani pulaton for two weeks
after they naturally should have begun to harden
AS to future calculations of the money
market, that are made by comparison with the
movements of preceding years il should no
remembered that last year the Government pur-
chased and paid for $25, 900 900 bonds between An
gust 20 and November L. That amount PERTAINS is
as much as viii be paid out for called bonds during
the same period this year. The other disbursements
Dy The Government for the year do not differ from
'hose OF other years except in the reduction of the
amount of interest, the interest on tbo
continued registered 5s having been 70.
duced to Big per cent. From August % IN
november /, last year. the imports of
specie amounted to $39, 900 600 During last ,ool,
on
account of imported gold but that sum is covered
10y last weeks report OF the Sub-Treasury's nav
,hehts The Assay Office owes for gold on deoosit
PfoooUo The foreign exchanges, before weak
were completely demoralized by the stringency in
money and bills were almost unstable The do
neSuc exchanges continue to be unfavorable at tho
"cst; the rates on New-York at the places named
Ao as follows: Savannah, Is discount to IL pre-
mum charleston, 1sQ Il premium New Orleans
20 cents discount to 81 premium St Louis and
N'oaeo' each 81 discount Boston, 16 2-3 cents
premium. ''
Inc STOCK Exchange markets were moro active
last week than during the preceding vveol tho tro
o . Al STOCKS amounting to ], $3.50 100 shares
neans1 l.oooooO shares for the preceding week and
.'ooo'!oo Ior the week preceding that. Values
""o'ostihg out at the end were universally
epess'u Inc stringency IN money the continued
VI an early settlement of the trunk
-, go war; another war threatening to
-, ~. s 'ne western roads--these facts and
probabilities all conspred to dishearten h,'" az;
courage holders and embolden fbe L. y o.s,
IN the week the feature was the docI;na i, D..
aSand Chicago, Burlington and Quincy. Cbicago
ana Illinois Central. Unquestionablv the
~ Vi 'hese stocks made principally for
s.s -, oear account. Bat the important con-
uoh is, Is the theory upon which the
la, are pressing sales correct If it is
0 s'ies Oh real holders will follow later andiwben
ao inc decline will be less rapid because of the
ine influence of shortn interest The
- urge that q shortage of the corn crop.
"o", !. ~ admitted. will be large as COMPARED
miin last year, will so reduce the earnings of
'ie roaas named that dividends necessarily will ba
eo"ucoo. but whether correct or not the growing
'P VI corn-iarge or smali-will not affect earn