New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1881-10-24
Nrw.voRK DAILY TRIBUNE MONDAY OCTOBER q 1881

bursements on this account were @Z,3-fO,VVV'
because over 100000 had been held at the
Office but not yet paid for, on the preceding
Friday. In addition, 81 ,099,500 in specie az
rived on Saturday, of which $4,000 was IN
British and the rest in French metal. Assum-
ing that about 100000 Of this amount was
not included in shipments reported by
cable, we infer that about $l,40O,oOO
is still on passage for this country Inc re-
ceipts at the Assay Office since August Is
have been $l7,92S, 800; the receipts on sat
urday raise the amount to Sl9,O2o,4 OO anu
| the gold supposed to be still on the way Will
make the imports over %2OOOO,OOO before the
end of the month. When the Bank OF Eng
land began to resist further exports by raising
its rates in August, the general opinion was
that the receipts of gold on this side would
probably fall short of $2O,OOO,000 for the
rest of the year. But the reserve of that
bauk. then 1923, no, had fallen last week
| to S105.371 100, and the rate had been raised
| from Dig to per cent, without stopping the
outflow. On Thursday, gain of 100000
was reported, and the bank made no change
in its rate. But the Bank of France raised its
rate TO per cent on that day, which will
tend to prevent the use of the French reserves
to meet demands upon England, though
the Bank of France has lost only
100000 in gold while the Bank of Eng
! land has lost SlS,000,000. The Bank of Ger
many has also lost hcavily-since August Is,
Sl5,135,OOO, probably nearly all in gold. A
part of the $3S, 600, 900 thus lost by the three
| great banks has gone to Italy, and part into
circulation, but more than half has already
reached New York.
Future prospects, both rs to shipments
from Europe and as to the OutgO from New
York to the interior. still depend largely upon
the grain speculation, which has not materially
changed in character during the past week.
The price of No. red winter wheat closed
on Saturday the 22d precisely rs it did on
Saturday the 18th; corn was only quarter OF
a cent lower, and oats had risen sharply. Sales
continue very large; during the week ending on
| Thursday the sales were l1,19l,0OO bushels
wheat, $4,000 corn, and 1,73j,00O oats.
On Friday and Saturday the sales were
2.G72 900 wheat, $50, 900, corn and $4,000
oats Money IS absorbed, however, not by tie
mere volume of speculative sales but by the
increase OF stocks held, and the receipts at
Chicago ard Milwaukee during the week end
inc October - were OF all grain 2,73j,3Nl
bushels, while the shipments from those ports
were only 1874, $50 bushels The receipts at
Atlantic ports still fall far below those of the
corresponding weeks last year; for the week
cnuing on the DIST receipts at Ncw-York were
/. N93 100 bushels against 3,109,756 last
vc1r; mt Baltimore, 3Jg,Gl0 bushels AGAINST
1,O2O1Go; at Philadelphia, 1j3,s5o bushels
against ,39j, 100; and at Boston alone there
appears an increase. 5J7,N bushels against
3~17o5 for the corresponding week last year.
Accumulation of grain at Chicago and other
interior points necessarily involves the
use Of increased sums Of money. while
the comparative immobiiity oi gold, which,
when once paid on; in the producing regions
,ccms 10 stick there most pcrnaciously, almost
wholly prevents that return Of money to the
East which used TO appear about the lst OF
October If the grain speculation continues,
therefore. st.ll larger sums are likely TO bc alb
,orhrd in thc interior, while the curtaiimrnt
Of export, viii limit Our power to draw gold
from abroad.
In other respects. business is very active and
NOT unhealthy Cotton was steady at lilo
cents Tor middlue uplan}S, against 1l.3l
cent, ON the sime date last ycar, and the sales
I J. % week were o''l d'N''t lIi' -'''ll 'Il' '
lr.c as those Of the wee, preceding while
sales for export were 3,196 bales last wccl,
AGAINST 2.373 bales the previous week. PORK
declined - cents; coffee dropped from llll
~ lOa cent, for Rio fair cargocs; sugar
has been quiet; and petroleum closed
about > cents lower for certificates
than n week ago. TIE movement in dry goods
* active for the season, considering the state
Of the weather, and a confident feeling pre-
wills The volume of exchanges for two weeks
cpIin., October - was the largest ever
known outside OF NcW-Yogk, amounting TO
S7o5.369. GD3 at twenty clearing houses
arsip.t &l-s 9jo.iI5 for the corresponding
weeks last year, Though speculative traasac-
tious M Chicago and some other points swell
n,c AGGREGATE, and it is difficult to
determine how mach, yet the great
increase at all the cities where there is no
speculative activity of Importance shows that
the volume Of Legitimate business is remark
ally large. The railroad war does not cease,
nor seem likely to cease, however, for large
| freight contracts were made by the Newly ork
! Central last week at low rates for six months
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THE CHTRCH CONGRESS-