New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1881-11-21
The following are the totals of the statements at
lte for preceding years:

surplus reserve i29oSt9 90 @4i425s 5Ss
The local money market, although generally
ruling at per cent durIng the week. steadily graV-
itated toward strngency and in the last days COM
missions of 64l1 }2 per diem in addition to legal
interest were not infrequently demanded and OBJ
,ained Yet the receipts at the NewYork Sub
Treasury from ordinary sources amounted only to
Sl3I751O IN excess of ordinary payments, or an
amount that is only little in excess Of the weeks
accruing interest on the public debt. The offerings
or 3l2 per cents to the Treasury on Wednesday
amounted only 3s ,000 and there is no reason to
suppose that the offer to accept tomorrow aud
on Tuesday the remainder OF the S4OOO,OoO
that was not presented on the last two Wednesdays
will meet with any better result. The continued
IS command premium of b per cent, with interest
only from November l. and of course none of them
will be- presented so long as the open market offers
a premium and il seems probable that there are
few of the continued 6s remaining in hands thatcare
whether money is 2 or 100 per cent in Wall Street.
or will be influenced by the rate for money TO part
with their holdings, except on cOmpulsion. During
the week the Western exchanges which for "A little
while had favored New-York. weakened, and at
Boston, because of the bank troubles there,
New-York funds were at a discount
of 1895 cents. At the other points
the quotations were as follows: Chicago par; st.
count to par; Charleston. 5-169ls discount; Sa.
vannah asGls discount. The foreign exchanges
were dull and at one time weak. but later rates
were firm at the following quotations for actual
business Bankers bills, sterling. 81 S0l26$4 SOsA
and 81 S41lG$4 S4l2 for long and short sight
respectively; francs, 5.2505.25l2 and 5000
52Ola; reichmarks. 94Q947s; and guilders 39osa
10.
In financial circles. doubts and uncertainties as
to what policy Secretary Folger may adopt and
rumors of bank irregularities were the causes of an
unsettled feeling all the week. There, however,
was disposition to make light of these matters and
less was said than was felt. rumor early IN the
week affecting the Trademen's Bank quickly
proved to be false but where there was smoke it
was Thought there must be some fire, which would
be developed in an unexpected quarter. SO the
report of trouble In Boston bank was felt to be q
relief But if the worst is now passed. recent occur
rences are likely to exert an influence on speculation
for some little time. Undoubtedly directors OK
financial institutions will be moved TO a SpasInodio
performance of their supposed duties. Securities
for loans will be critically examined. and IN
some instances the powers of presidents and cashiers
are very likely to be contracted II so the robbery
Of the Mechanics Bank of Newark and the mis-
management of the Pacific Bank of Boston will not
have been without some good effects.
Government bonds were rather active, and early
in the week in good demand al tulI nguresi later,
however there was a decline, and the hual
bids tor the continued 5s y lower than q
week ago and Tor the As are u lower. State bonds
also were unusually active and strong. and tho
Tennessee 6s and the Arkansas rs were noticeaby
higher AT the end, however, the full hgnres were
not maintained. The dealings in railroad bonds
were almost entirely dependent upon the course q
the stock speculation Hence after oeihg strong AZ
one time the closing was weak for the speculative
kinds. .,,,a. al tho ,ro.,
through Aside from the effects OF unfayorable ru-
mors and of newly developed facts tho tendency of
nrces generally was downward The bad bank
minors and news, however, created short inter-
est which in time was the occasion OF sharp
rallies from each decline. The special
feature of the week was the large transactions in
Lake Shore stock amounting TO 1872, 900 shares with.
i'm a range of 2ls per cent-l2OlsG 122Ss-with final
sales at 1919 against III g week ago. The trans
actions were bewiching to operators of every class
and led to the almost universal belief that Mr. Vans
derblt was purchasing the stock and this led to ms
numera BILE rumors that the railway war either had
BEEN or was about to be, settled. The operations In
Lake Shore also important factor In pros
noting a more serious decline in the general mar
ket There were all kinds of talk about the rails
roads having more business offered than they can
do and OF further advances in rates All OF
this however, is inconsistent with well-knowu
facts. The receipts of grain at chicago 10,
the week ended last Friday We're only l,ozl,Io
bushels, against 2,566,330 bushels for the same