New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1881-09-05
GRAIN AND GOLD,


ment in the monetary situation, though the
purposely misleading bank statements give
little evidence of it. If the banks did not intend
that the public should be deceived from time
to time as to their condition, they would long
ago have complied with the public DESIRE and
adopted such mode of statement as to show
their actual position at the close of each week
The averages given on Saturday last, which
probably approximate to the actual con-
dition on the preceding Wednesday, show
gain of only 1924 in specie
and loss of $593,O0O in egal-tenders.
The Treasury balances decreased from We'd
nesday, August "a, to Wednesday, August 81,
$2,4S7,4OS in specie and $1S1, ass in legal
tenders. Such information as can be gathered
from the principal banks does not indicate that
more than 1912, 700 was sent into the interior
by the banks, in excess of money received by
them from the interior, Unless somebody was
locking up money in order to produce precisely
that temporary pressure in the loan mar
ket which was felt, the bank statement was
to some extent misleading even as to the con-
dltlon as long ago as Wednesday. But the
fact that loans to a large amount were called
In by leading operator on that day, so that
premium was exacted on renewals or new
loans amounting to many millions, favors the
supposition that checks to considerable
amount may have been held out of bank for
some days previously.
Large arrivals of gold from abroad and large
payments by the Treasury rendered it difficult
to make more than a temporary pressure i'm the
money market, even if more was intended.
The Treasury paid out in gold, in excess
of all receipts, $l,596,796 on Thursday,
$2,lOs,206 on Friday, and $1,s63, 9O5
on Saturday, making $5,568, 9O7 in
three days. besides $39S,O91 in cur
rency. The effect of this supply of
nearly $6,OOO,OO0 was the greater because
the receipts from Europe We're $3,67S, 600
during the week ending Friday, while
$l,6OO,5O0 more arrived on Saturday. The
payments from the Assay Office for the week
were only $1,367,37S, but the known presence
of nearly $4,O000O0 more, for which paw
ments are soon to be made, had it's effect
upon the loan market. In addition. it
was known that about $2,770,oOO was
shipped from Europe during the week,
not including shipment of $4,000 900
reported by cable as made from
Hamburg about which much doubt is ex-
pressed by bankers who are well acquainted
with the German market Still greater ip0u-
ence was given to the disbursements and re-
great wheat speculation had been closed out
and that several Millions which had been kent
i'll reserve by the operators, were thus olsen
gagged. During the latter part of the week the
money market became comparatively EASY.
The immediate prospects are OD that
1921 800 will be paid out for gold already
received at the Assay Office, and ST 600. 800
more for gold which arrived on Saturday.
2) that about $7,747,S76 more, already
known to have been shipped from Europe
Not counting the reported Hamburg shipment),
will arrive within the next eight DAYS: (3)
that large disbursements will be made
for bonds received at the Treasury
but for which cash has not vet
gone out; and (D that about $40, OOO, 900 will
be disbursed, beginning to-day, for pensions
OF these achievements the first two
$1O,059,176 in amount, will soon reach this
market directly. A portion of the remainder
will reach it only after delay or will onIv
diminish drafts to be made upon it for com
mercial purposes.
On the 31st ult., according to the books of
the Treasurer's Office from which the debit
statement is prepared, only $4,O24,15O had
been paid for coupon bonds embraced in the
103d call. On Saturday night $5,649, 900 of
these bonds had been received for redemption
The discrepancy between statements from the
loan division and the Treasurer's Office is due
to the fact that $979,6OO had passed the for
mer but had not yet been duly record
ed in the latter Office, August 31st. The
amount of coupon bonds not extended
was about $1O,575,OOO, so that about
$4,926,OOO have yet to be received at the
Treasury, and payments have been made since
last Wednesday, are to be made. for
1924 $50 already received. According To
this statement, about $780,, $40, 600 of the
registered bonds were extended and about
$7,193,4 400 actually paid for prior to the end
of the month. The amount received I'D to Satur
day night was $12, 222 $50, so that 81, O2s. $50
have been paid since Wednesday, or are
already received and yet to be paid, while
$l6,275,950 still remain to be received As
only 81 ,5S4,6 $50 came in during the first three
days of September, it may be inferred that not
more than $3,000,00O will be received this
week. The money market may therefore ex-
pect about $6,600,OO0 for bonds already re-
ceived, less the unknown amount paid last
week. and perhaps $3, 00O, 900 for bonds likely
to come in during the week. This money goes