The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1881-09-05
MONEY MATTERS.
Ahe Grc"t Influx Of Foreign Gold-Fi.
-sE5s nnnciaI Notes. .tNrHbE

!9'6s nnncial Notes. ua.bI
NEW loRK, September 3.-Thc steamers
Adriatic and Rhein today landed here for.
clgngold OF the value OF 81 100000, which
makes total Of SG,s5O,l3l gold received
since August !. Or this sum s., ,oG9, 900 has
been received since August %. There are
probably S5,0Oo,OOO more afloat on the
way here. Foreign bankers who lave the
best means for making correct estimates,
think that the gold imports from August |
to the close OF the calendar month will not
he less than S25,00O,0OO, no matter what
pressure is brought to bear by leading
European banks tostop the movement, and
that they may largely exceed this amount.
II is TO be kept in mind, however, that dur
ing the last half Of 1880, gold came here
without important resistance on the part of
the Bank OF England, and that this wear
every leading bank in Europe is using its
influence to prevent gold shipments here.
II these banks put forth their full power,
they may be able to force the return TO this
country later in the season, OF n good part
OF the American securities bought from us
IN the last year or two. r.
The estimate OF $2!5,OOO,0OO OF gold i'm.
ported is founded OH the opinion that this
amount will come before these banks have
tlnhc to resort to extreme measures. The
statement Of the New York banks for the
six days ending with the close Of business
yesterday showsa wholesome contraction
Of credits or loans which in amount is S..
lGe, 400. The credits on the other side OF
bank ledger are deposits, SO that Il decrease
OF s',ii', 100 i'll deposits is reasonable
enough. The average legal tender notes is
S193,0OO lower than Il week ago, while the
average OF specie isSl92, 400 higher. The ci-
tcct OF these various changes on the
reserve is to increase it 81 ,;l47 ,925, but even
with this addition the banks lack 81 ,02O,-
loo OF p per cent. Of their deposit liabil-
lties; year ago they held $500, 400 more
than - per cent. reserve. Only the MI
tlonal banks OF the Clearinghouse Asso,.ia-
ton are required to keep 25 per cent, the
State banks being each left to keep such
reservoirs it deems best. It is believed
that the statement is made on rising aver
ages; it would be known certainly whether
1t was or not, provided the statement OF
average condition was supplemented by
one OF actual condition at the close OF the
week. :, -
| There is no reason except, perhaps, Il
senSelcss reverence for ancient errors, why
the ban Ks should not give to the business
public q statement OF actual condition nj
the close of the bank week. While. as
said. it is believed that the statement to.
day is made on rising averages, it is sthought
that the one OF Il week ago was made on
falling averages. Astoth first, it is known
that at the bc.innin. OF the bank week the
balance in the Sub-Trcasury here was
so2,3.D,4W, and that ut the close
OF the week it is SSH, 6,4G905. This
gives u difference OF Si,l42, ,50i
cash expelled from the Treasury, II good
part OF which should be in the banks,
During the six days covered by the state
ment there arrived in New York from Eu-
rope S3,G'0,6l+ gold Exclusive, OF co,rsc,
OF the Sl,iO0,O00 to-day) This gold may
not yet have reached the banks, or ii it did
then so late in the week us to count for
only one or two days in the average OF the
six. There is no trustworthy record OF the
domestic movement OF currency to and
from New York, but it is safe to assume ut
this season that the receipts have hccn
considerably smaller than the shipments.