New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1881-01-02
THE MONEY MARKET.
SATURDAY. Jan. 1-P. n.

SATURDAY Jan. Up. n.
The character of the weekly bank statement that
was issued yesterday a surprise, and excited no
little comment because of the expansion oil
$5 33S 500 In loans. Ordinary mortas IAN 70 CON-
prehend the necessity of the violent contraction III
loans amounting to moro than $23,OOO.OOO during
The preceding four weeks and nc the same time the
perfect safety in an immediate reexpanson, IN one
week. of one-quarter Of the sum OF the total con-
traction. But the methods of reasoning employed
by New-York bank officers are inscrutable and past
finding out. The gain of 1901. 900 in specie was
more than half offset BY loss Of S504,3OO legal
tenders The gain in specie was unexpectedly
small, because the Sub Treasurys payments OF coin
exceeded it's receipts for the week ended thursday
night over $4,000 900; and OF the receipts apouS
So 600 900 was by transfers from out OF town. 90
that, with about $6,00O,OOO specie added 10 INC
market it is beyond question that the banks actuai
holding of coin is largely In excess OF the amount
reported "a the average The total average reserves
for the weck-specie and observation-disclosures reported
at $7O.s4450O, or $9.s3s, 300 more than the
amount held at the same date in 1879; but an IN
crease of SOL $50 800 in loans raises the deposits
SO that now the 25 per cont rule r. quires reserve
of 1868, 1928 against $50. 521 775, the sum re-
quired a year ago. The weeks movement results in
loss of 1892 1875 to the surplus reserve, and leaves
it at 50, 727775 against $4s3,S25 at the same date
of 1879. The following are the comparative totals
of the statements of December "a and December 81:
e. Pi s5 &;
ssSeoo 22l eSS i RSc SSsSSS
c cseGi isASi4SS i59uS.SOS Dec. 1870
The following shows the relltlon between the
total reserve aud the total deposit liabilities:
fssss:ss g}s IS IS IS: ';5$$
rs:sE@s qsSS 'ss s 1 Bs S St
Compared with % 1t of the corresponding date OF
1879, the present statement shows: Loans IN
creased SOL $50 500 specie increased, 49, 765,oOO
legal-tenders increased. $73.1O0; deposits ILL.,
creased, $50. 379 500; circulation decreased
$5.34O.4OO. The total reserve t$70,S44.5OO) now
Ii 20 90 per cent of the total deposits, against 263o
last week anu 25.O2 lot January 3. 1880.
Notwiths andlng the increase of over $5,OO0,OOo
in tho Jank loans, the local money market worked
stringent for the greaterporon of the week. ana i92
and 1e per cent per dav plus the legal interest were
common rates. The foreign exchanges were higher
on demand from importers of securities. ard rates
for actual business were about cent per + hlgher
than q week ago. Tie domestic exchanges have
ruicd steaay n, rates thar were current last week.
The Stock Exchange market, we're excited ali tie
week through, and higher prices than ever before
were recorded for nearly all the h'ghpr &c sectri-
ties Government hon Il we're h1n, with TRANSACTIONS
at the Boards of 1928, O0O ana th" HAL BIDS show
advances of is per cent each for o. of 1881 and s
The Treasury paid 1929 FOR S1S2.0O Us OF 1851
State bonds were icm win IA fair amount
80 huspess do.e IN the southern issues. but
the markets have presented no new features, nor
are there any development lkcy to affect values IN
either ditectlon larg. and wrlI-d.slributed bus-
4 Zoe
ness was zone Ill r"'i'"' o'"''' '"O "''O W 80
I,egu,r and Texas issues ualIv clos" with
,o.,oa ne ohont I L, r,r cent and Erie sccoud
i !, per cent. Boston. fIa, ford and Ere irsts
are 2lo pei cent bigb'r, R0ine, WATERFOWL ana
Ocdens burr frsts ar" hl2herC hesap.ake and Ohio
firsts, series b. and currency do'ts ZSa and per
cent higher respectively. u; am l. I. hrNt us,
sented per cent Central OF wJrfSv incomes
per cent. and Irdiat ., BOpning,ol ami western
incomes per cent. CcnceIDng the g., {. and j. [;
assented bonds. The alruil'n ~ 10 ders ~ lre'ttd
to an advertisement OF Mrs-rs. \. IScih q Co IN
another column , ,
Tie business done ~ locks i"r INC hVe business
days of this week l2,o9I,|45 @h'r"~l IS lel.3oI
shares more tnan fti tho ave ua'N ~ ChlIstnlds
week. The boo" III ?rict" c0ntIun 1T, bnt tlcre
was marked G. anse III fho glHa,ier o Tue market.
The ris. of this wc' was due almost entirety 10
speculative movements, a't occurred desDl.e free
sIlDpiy of stock sJid Tor account OF European holders
we'll az ior don"stio ihvss of wuo 1eHln 10 tLnk
that there are pree- al whI II Is ndlcios 70 sell
even the OeN 81 S"cu''irs. Is sr1t'ihrnt Is hkelv
to be increased ny ia" hh'"itd2e 81 lIe lact ihat
the Cenira ava hudrQn op't, oet g., ~ iUpni i VI
s wanncn ma on m,l 10 H. t, Encnrrr. shows the ex
stence Of n lloatlr0 d b at date Of the statement
september &c. i9r '"ll"S"s gre the cl'i .I items
sheet ''
Paw roll. and operating aPs s2sgoql