New-York tribune., 1881-10-03
THE MONEY MARKET.
SUNDAY. Oct. 2--P. VI.


week ended Yesterday were valued at $9,4OZ'oSi'
and although 81 555 sO4 smaller than the unusually
large importations Of the preceding week. "i'
81 OS4242 in excess Of the value for me s'i,''
week OF $50 Tie value of the exports rom rom In la-'
port for the week ended last Tuesday tpo'
was S6OS O0i greater than the value lot 'ii' P'
cedino week bnt @177 74O less than Tor 'he coiio-
eponding week of last year. Inc 'mloi's " ,fr
tor +,,o ol, on,on,,ted 10 $s29,550, not lncluun8
e5zo 600 gold bars that arrived YESTERDAY '
4otal n,norts Of specie and bullion at ts PoIt SIN
Ja,uory l. this year have been Pl~''or
'Sator tLo,, for the same time last year. ana tho
exports of specie and bullion this year nav
a, 1oIto5 greater than last year. lhe 1ol-
r., .hovrs the imports and exports, other
than Of securities at NewIork. since January l. Ioi
1880 and 1881: ,
,s57 i,59 7oi saso G5Gs7o nsc. = 4i,,i6o84
Specie .......... 84ll9.2'0 +GiShoio Inc I,,o- -
rot, inports 4ilOO7 L2l3 t3771llol5 Dec sa2'S2'''
EXPORTS.
MSFcsanaao s'OS 55i3ai5 Si$i5 - 5s5s Inc l72ll22
roa, EXPORTS s5i 3, ,52ono s2o72i625a Dec sl@2SSlo'
Balance o, against so6545o5 s79sol759 Dec sl6619Sl2
Tbus while on the merchandise account the O"'-
orce AGAINST this port on the business since J"'""iI
is only Si2O45.O79 against balance oi
eco al col at same date ia 1880, decrease Oh
cor oe6 542 including the specie movement the
dcbt balance now is S79,S"4,'o0 against
So6.544. sos a decrease of only Sl66i9'SfZ'
The report made by the bureau ol ',a'iSVi'o -
oncrts and imports for the whole United states
shows that the exports of merchandise III husus''
1881 were $G7, ,497, ,140 against $67. 1872, 600 IN
Apcnst 1sS0-an increase of $30f4S4; while the
in,norts If merchandise for August. tins year.
,,ounto6 TO SOL G93Ol6 against S5G,Zooooo III
Argnst 1ssO-an increase of So, ,421eo3. Inc eN-
cess of exports over imports III August 1901 was
S5 sO41 12l against $10,927593 in August looo'
Adding the coin and bullion movements the excess
of fexports over imports this year Is Only Tloooolo
.,oinst an excess of 81 6S9, ,254 i'll August, leso'
For the eight months ended August 81 theaeXpor's
of merchandise exceeded the imports OF nerchahiSe
S114457.O .O4l against an excess OF only Soo'ool'o't
Gov rho same time in 1880; but III
clnding the coin and bullion movements
the excess of exports this year is $o1,oZ|,ooo
against only 'S45 5367,05S last year. Inc
information given by the statistics, however, Is
mora instructive in the eight months which are u-
yided into two periods of four months each' for
the first four months Of this year the exports OF er
chapdise exceeded those of the saue time IN leoo
500 $40. 1926: for the second four months OF TINS
wear the exports were $l7, 1854 less than for
the same period, leaving the gain for eight months
S5Ol1 5S2 During the first four months the lm
ports of merchandise were $43342,455 less thah
for the same period of 1880 hut for the second four
months the decrease was only $10,301,06O or
S74g7 SD less than the decrease in the exports for
The same months The detailed statement OF the
periods is as follows:
MERCHANDISE EXPORTS.
1880. 1881.
fo@r on MIrs @ 274 s29675s57 s22 28lO42G
cd ATg emu 27eoo7oo6 25s2Os4s2 l77os574
Total mos s55Os7l 937 5,sS9,7s9 Inc s5,0llS52
MERCHANDISE IMPORTS.
1880 1881.
FS9 @ sr $ s21276652O Dec sl3S424 455
Fsgr cd KSs o'1 s END 2as9e2ss 22Se622s loSooGo
Total smos .si95,o7o26S si4l,42674s Dec s'Soi3oIo
EXCESS OF EXPORTS OVER IMPORTS
1880. lSSl
FS9r e MsS $ S sls755o56 s8sOss37 s66l52Ss
FS9r S9 ASs HI-i' 5 end a7O4578 2a5is2oi 74o54
Total mos. s55,6Oi,67I STA l57OlI s5SO553G7
Deduct excess Of
imports of coin
and ndbulnoncyer
!G'a siSi months slo4sLsle s2742s5 Inc. slG99i925
Net e1cessot
expors... s45S67.O5s s87O275oO Inc. $ilGGo.4i2
If as has been printed, yesterdays bank state
tneut was surprise 10 anyone, II was not to those
persons who took the least trouble TO keep them
selves informed as to the movements OF funds dur
inc the week. II was generally conceded that the
statement of a week ago repor ed at least
s., 900 900 more specie than was held at the end
of that week. The daily Sub-Treasury statement
showed that its local receipts of coin exceeded its
local payments 81 231, 437, which sum averages in
the bank statement as loss of $2,OG1,6 600. These
two items alone account for S3,O67 500 of the re-
uorted decrease of So, ,34l 300 in specie, leaving
only s. 10000 to represent the average loss by
shipments to the interior, which are estimated to
have exceeded $4,000, 900. Probably the state
ment oyerstates the amount Of specie that was held
FRIDAY evening by from $500. 900 TO 100000. The
loans were contracted only a moderate amount
S2l74 900. The reported decrease in deposits
50, ,799, 2O0-is about 50 100000 less than the
other changes call for; discrepancy that may occur
by the counting Of the same balance in two banks
where checks on one bank are deposited in another
bank without certifcatlou. The result of the weeks
movement as reported is a loss of $5,6GS,1 100 in
cash. which leaves the 81, ,756025 short of
the rule of 20 per cent against surplus OF
Sl462275 week ago. 4 correction of the deposits
average probably would reduce the deficit to about
$2,2J0,OOO
The following are the comparative totals Of the
statements of September a and October 1;
Loans ss5pgao ssp4 q sssSe4oo
specie g49S4490 5se5tSS900 e5S3o0 Dec Dec 6SlI 2o9
IegalteudcrS.
IplOsts.. 3l53l73OO 3OS, ,is,lU0 Dec. g. 7Jg, zoo
Circulation. l1765z00 I9,SJ9,lO0 Inc $500
The following shows the relation between the
total reserve and the total deposit liabilities
Sept "a. Oct. !. Changes
specie ...... sG4D53 4OO $j9G43 200 Dec SJ,3 2OO
LegatenGers.... l50572O0 ID, 10000 Dec. $4,000
TotaIroserve ss0Oll,6oO s745735OO Dec s5.G6s 100
Reserve required
against dep'sitS 1S5Ie3Zo SiflZSo25 Dec l,44s,SOo
Surplus reserve. sl462275 .$275GO25 Dec s42ls 800
Deficit
The banks now hold SO, 9291 100 in specie and
lega-tenders less than they held at this date las
year. The loans are $21 ,173, 500 greater than
they were then, and the deposits are $1290G, zoo
greater. The consequence is that the re-
qured by the 20 per cent rule now is 49, 226 go
than was required year ago, and hence the deficit