New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1881-06-27
THE MONEY MARKET
srNn,r. Inne Or. n.


at this port last week were about equal in amount;
the values being $7,s37, 1914 for the imports
for the week ended yesterday, and S7.7Oo'Ooo
for the exports for the week ended TUESDAY
June 81 Compared with the corresponding
weeks Of last year. tho exports last week were
S2,O72 234 smaller. while the falling of in the
imports was only 81 1891 O27. Tho imports of specie
for the week lS26 2G8i make the total since Jan
uary ! $50 lJ2,Sl9 against only Si,503,6o3 Tor
the same time in 1880; and the exports
Of specie since January l. 1881. amount
10 Sj.421,947 against S4,727.o5S in lSSo.
The following shows the imports and exports oiher
than Of securities at New-York since JANUARY J. for
1850 and 1881:
Msrcaana., sas - 3 9 pee Pee s. 55 &
Iota imports 25;.9a7'.-s 2so,aejo9e Dec. la4j--OO
EXroWrS.
Merchandise sls,s95S52e sisl,-ass Dec. 57ioi77}}
sPfS o, exports. ioc5s5ss5 is75i.j5o Dee aolGa97
tle port % e5C,s.su 4o2la72s De. Ie'@.sl3
Thus. while the mcrchandI,c+c,o cunt FOR this year
shows balance against this port of only
S2f.3 $50 $50 ng1inst $G5.7a3,SlG balance on tho
slmo side for last year. including the specie msye-
mcuts the balance against the port on tn business
since January l. ISL. is still Si9,2I372' against
So. 6595ll to the same date last year.
The vccl.,y statement Of the associated banks
published Yesterday presents 10 changes that call
for special comment. A further reduction Of
~ O7j.90 in the amount oi loans marked a coniin-
nance of that conservatism which was shown IN the
statement Of the pr'cdin week. The operations OF
Tie sub Treasury during the week gave to orr local
market SjG2O75 Ia gold and took ont Of 1t I'll Ifo
cum ucy. 80 thar the statement Of total specie
showing gam of Sl.4so.'OO and Of lesal-tender-
showing q LOGS OF S3sl 400 probably more nearly
rrpres.nt- the actual condition of thc BANKS cash
serves 20 The end OF the ScoL than tine okly state
mrnfsu.u4iiy do. However. the probability that the
reports o. specie and legal enders are made upon
falling averages i indicated by the Discrepancy OF
S~JI. OOD between the report OF the amount of de-
posts and thc amount which 'he other chanS's call
for. Consistency with the other items of the state
mcnt require, an Increase OF SlS 1000 in deposits
but tho deposits an. reported decreased $685., 500
The weeks movement results in an increase Of
81 2Gj. 500 to the surplus reserve. leaving !, al
S927I2OO against f,urplus reserve ofSl74~3,200
al tlic same dltc last y,iT.
The followin, arr th. comparative ttal, Of the
statement, of june Is and June -:
Loan. . l29, . 'aHc z Dec Fl '.;':o
t Pi. ' . So i5 (fa5 be- be- 1858 1858
ne lol4hNlNE SHOWS itI' lfiAll'h V'if''IA NA'
total reserve and the total deposit Liabilities:
sc.,. .!s eai s7!!a99s'o rac S. 5 i25c5
A. Ss -yc t55.sc5 55isi.o5 be- R Lo5 ,i
s ,.'s- ' aap,' seo7&ooo ssooeoo pes 1870
Compared with that OF the corresponding date Of
l~-O the present statement shows Loans increased
SlajSJ.GOO sp,cir increased - n .-Nl 100 legal
tender. decreased S3.G22"oo: deposit, increased,
D. Id -
total reserve 500 l~t.Ir0 now j. no per cent of
the total deposit, against 27i2 last week and 3l.29
Tor June 2G. 1850.
The local money market last week was not so un-
fornl; cas-, n il vas for several preceding weeks,
Will. the common rate for call loans a 81. per
cent th, r. were ,rvcrul exceptional parts 90 days
when the anxiety Of borrowers advanced thc rate
tot , l,r cent. and on one lay Ia percent. Time
loan, rule i 3a3. per cen; Tor ninety days. and ~
4ll per cont fot four % six months. IL Is likely
that the preparations or corporation, 10 meet July
plymcutsof di>id.ud, and intcre,; mas cau,e some
itrtrrl4tions in the money market ~ week. Such
preparations. however. profanity will Toe partially
Offset iy the treasury anticipating n portion az
D.. .1uly disbursements, amounting 10 about
oOOo 600 Il will De SAFE I'D making
calculations Of the future OF the money mar
Lct go accept rs probability that .cs- tlan the
urdit,ly lind ITS way into the ordinary channc- II
circulation The domestic exchange on Ncw-lork
M fine Southern cities ruled steady anl unchanged:
Savannah. J. - premium; Charleston, la d pre-
mimi. NeV-Orl.ans commercial 30 cents discount,
bank II 80 prcmiu,n AZ the West rates iluctuatcd
and vcr, weaker: ~ Louis closing at - ccuts pre-
MUM against - cents a week ago; Chicago -
cents discount against % cents Al Boston rats
have ruled between - and % cents discount, clos
,ngat 80 cents discount. The foreign exchanges
were moderately active carly in the week and rates
w,rr advanced D., cent per pound sterling later.
however. the market. were duU although the rates
were maintained. Actual business is dora at a5out
- -I and - SCI. tor long and short bill, rc>pcc-
lively.
The stock speculation dragged all the We X, hut
10 wa, not without IT, period, OF hopchiluc,s. lhc
business of thc week amounted only to l.7N20N2
.harrsa.ainst 2.fji. 500 shares for the preceding
week.. decline in amount of transactions that
uafAs the waning Of general interest Lyeu
90 the comparatively small amount Of bust
ness that was done the operations of
clique. made mp an unusually large proper
ton The important events of The week rs affect
ing values were the ha.f-y ports oi the Lake
sI.rc Michigan Central and Canada Southern Rail
roads. which demonstrated ihe fact that increased
ro-.earriug. do not always imply an increase IN the
dividend capacity. In connection with the reports
named the last monthly statcmcnt-for Apricot the
Enc Company assumes greater significance than It
had when made a week ago. For the same months
October T. to April j0-thc Erie Company's state
,urnts show: Increase IN gross earn
ings OF Sl.3s5072; increase in net
earnings Of S357.377. But the increase in
a