New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1881-09-26
THE MONEY MARKET.
SrNnAY Sent. Or. M.

SUNDAY Sept. 25-r.M NJ.
The value of the merchandise imports at New-York
so.t week was unusually large. amounting to u
Clio o5s 395 or $3.454,61G more than for the cor
snonding week of 1880; but the imports of specie
rot including 1888, 900 which arrived yesterday,
were only $103,536, against $4546,199 for the
.raek Of last year. The value of the merchandise
exported from the port for the week ended Tuesday
santember 90 was $S,345,65 or $3.50, 445 less
sl,aD for the same week of 1850 When the higher
Iues of this year are considered the foregoing Fl G
-,rea for exports show the movement OF q much
smaller tonnage this year than last The total OF
bnllion imports principally gold since January to
date is $I4 673 1888 than for the same period
of last year, and the exports Principally sl-
yer. are Sl,4S0010 greater than last year
The following shows the imports and exports other
than OF securities at York since January l, for
1880 and 1881:
,,,,,.o ssa 1850 sss 1921 2S9 i$7a pee siSsSo5S
Specie SOsso.s12 45554495 Inc l461Soso
Tota, imports 1906 sOsS74 Dec sSs71S7s
EXPORTS.
sSsss Pee
Total exports lsOI6i6 $2S7,o50oS4 sioa46,6s2
Sa ahs ss62lsssl s7ss5s7ao 7ses4l
Thus, while on the merchandise account the bal
apee against this port the business since January
is only $41,596,14S against balance of
$40 l54 662 at same date in 1850. decrease OF
$50 55S 514,. including the specie movement the
debt balance now is $7S, S53,7 100 against
S96.2ls, 631, decrease of only S1y ,364,S41.
Yesterdays weekly bank statement created some
snspcicn because it showed increase of OOS
in the surplus reserve. Many persons attach
greater Importance to the changes reported in the
surplus reserve than to the of the total
~eseryes OF the increase reported Yesterday in the
surplus reserves $60S $50 is due to the reported re-
duction of So 432, 200 in deposits and S4O0 90 is
due TO that amount of increase in the average of the
total reserves. OF the statement of a week ago
we said: 1.-The deposits increased 81 92l 800.
instead of being decreased $4,000 as the other
changes call fora discrepancy of S. 427 ,00O that
in this case probably is due to an uneven working
of the average system, and which, i'll
corrected, might add something to the fc-
pres of the surplus reserve" The decrease inI
deposits reported by the present statement isl
$1050 0o0,peater than heamount of decrease ca led
for by the other changes of the week. It, therefore
is reasonable to suppose that the discrepancy in the
last statement far cOrrecs the discrepancy in the
preceding statement, and that therefore more even
working of the average system, week before last
would have given greater surplus reserve. without
reporting any larger amount for tho total reserve.
The net result of the Sub-Trcasury operations for
the week ended Friday, including the payment of
Assay Office checks for al 81 800 was gain to the
baHhs "a Fly-OO, 100 toin anu TlOt,OIZ currency
But the specie gain of only 81 266 7S5 for the whole
week averaged TO the bank statement gain of
$1S717S6, because at the end of the first two DAYS
OF the week the net gain $2,S1l, 72S. and the
subsequent loss of 81 544 7S3 to the Sub Treasury
was In sums of from $500 600 to 5000, 900 through
the last few days of the week. That is by the aver
age system of making up the bank state
ment last weeks net payments to the banks
by the SubTreasury of only 81 ,2G6.7S5 counts for
$1,s7l,7S6 i'll the statement. As the shipments of
specie to the interior for the week are known TO have
been upward of 81, 100000. it follows that the
statement reports averagel about 81 900 600 more
specie than actually held at the close of bust
ness Oh Friday. The gain of $495. 400 in legal
tenders is not easily explained, the SubTreas
ury only lost $1O0.572 currency during the week
The actual condition of the banks reserves on Fri
day evening probably was a close approximate TO
the rule of % per cent of deposits.
The following are the comparative totals OF the
statements of September IL and September %: =.