New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1882-07-10
THE MONEY MARKET.


THE MONEY MARKET.
SUNDAY. July 9-PM
The increased difference GS2 1914 1860 against the
port of New-York as compared with 1881 made bv
the foreign movement of merchandise last week.
was almost entirely due to decrease of 81 .230
in the exports, the increase IN the imports amount
ing only to 1915 1876. The valuo of the merchan-
disc imported last week was $3.50 274, and thu
value Of the exports 81 9i0,3i9. Result-d bit
balance of 81 629. 955, against debit balance of
only 1895. $50 the ner ;handise movement Of the
corresponding week of 1881. For the twenty-seyea
weeks since January this year the value Of mer-
cbandse imported is $50 62s. 092 greater than for
the corresponding time in 1881, while the value Of
the merchandise exported is S36. $50 299 less dit-
ference against the port $40, 1913 30l. For tho
twenty-seveD weeks of last year the imports ex-
ceeded the exports only S24 SIC S00 this year tho
imports exceed the exports SlO0.97519I; differ.
ence, as before stated. S76, S,39l To date last
year the imports OF specie at this port S29, s060
exceeded the exports by the sum of S23. 5000;
to date this year the exports of specie t35S47,3s4)
exceed the imports by the sum of $33, S42, l70-a
change of S57 637 779 to the credit of the port ye5
lacking S1S,52O,G12 of equalling the increased
debit in the merchandise account.
The following shows the imports and exports,
other than of securities, at NewYorN since January
1, for 1881 and 1882:
Merchandise 40 pss
Total imports SOL scores ell c659ss
EXPORTS.
speech Ns2sano lS 5t 20 R Ss aS 5
NJ, .. soo9 o-7 9Eg stae snI os6 Dec ~ -, S-S
D tbe bort against 4s024os o7l3so2l Dec lsj2Os2
The weekly bank statement, as as present issued,
giving the averages" for the week instead of the
actual condition on a certain day. as Is done By all
the great banks of Europe. is fast becoming little
more than farce or convenient vehicle for the
distribution of erroneous impressions. There is no
possible reason for labor and trouble that are
qured to make "A statement of ayerages-the adding
together the balances OF each six days ana then d.
vidng the total by six-eXcept to avoid giving tho
information which il is supposed bank statements
are ready to furnish. Last weeks statement re-
pOrts-oans increased 80, 900, specie increased
IS 159 100 and egal-tenders decreased 81. O46 500
That gives net average" increase in the assets Of
SO 9O7 900 Ordinarily there should be an increase
in the liabilities to about the same amount The
liabilities for circulation are reported decreased
sos 100 calling for increase IN the deposits only
Of 50 900 900. The deposits are reported increased
$I2 100000, or $2,994,000 more than the
other changes call Tor. The discrepancy this
time may be principally, if not entirely, accounted
for by the paymen 5 of the banks July dividends,
which became deposits without increasing the
banks assets At all events it is absurd TO suppose
that the deposits increased BY receipts Of
National bank notes at the same sime that the
banks lost so heavily as is reported, in legal
tenders, The specie movement, as reported, is en-
tirely consistent with the known movement of the
week The Sub treasury for the whole week ended
on Friday night lost 81 1872 1873, SO distributed as
to average about SO 800, 900; deduct from hat sum
sum the amount $1,200,000 of the estimated
shortage in specie from the statement
of July l, and the difference Is not
far away from the average" specie gain
reported. The banks actual holdings OF
specie at the close of business last Friday prob
ably were about 100000 more than the amount
reported as the average" for the week. The loss
of $204 $50 in legal tenders, which, being the
average" probably reflects o real loss That Is
much larger than that sum, is the enigma OF last
weeks statement. But it lends color to report
which was circulated during the week to
the effect that Western!gran and provision specula-
tors had borrowed So 600. 900 this market, and
that the currency was sent West regardless OF the
condition of the domestic exchanges. An eXamlDa-
ton of the detailed bank statement, however showa
that the loss in legal-tenders very evenly dis
tributed between the banks except in the cases or
the Park and the First National which report losses
OF $3.50, 900 and $250,000 respectively. The ex-
pansion of loans for the two weeks-June II TO
July 7-amouuts to 81. 963 100. The statement for
last week shows q gain to the surplus reserves OF
81. S72 300. and leaves them at IS 1903, 325 against
S6. 552 $50 at same date last year.
The following are the comparative totals of the
statements of July and July 8:
Liam. sse my Y. Zoo ssa6 Sgy 800 Inc Pfas1ss
specie e. 1850 s5o SSSSoS Dec Dec lass
PSR9ss 5SoS Sis9ioSS Dec IeS l' So
The following shows the relation between the
total reserve and the total deposit liabilities
sD.c. $50 Ip az 600 s Iqy Inc s sf55s
LegsI.tenders... 25,64s,soo 2S.aU2OOo Dec 2OloSOo
Total reserve; s8I77S,sOO ss7,ssO,eoo Inc sell9soO
7es42275 7s58275 Inc $4,000
surplusu..... s6,4SI,O20 ss,3O3S25 Inc s9.s72'SOo
The banks now hold in cash-specie and legal-ten-
ders-S6 1877 200 less than the sum held year ago.
Tho loans now are S26,176900 less than then
and the deposits are S31, 5l3,9OO less so that
the reserve required by the % per cent rule nows
S7,s7s,475 less than it was year ago. Ana
the surplus of reserve now is $1.75l,275 greater
than il was then and the proportion of total reserve
now is 27.61, against 26.s7 per cent at the same
date OF 1881.
The following are the totals of the Statements
at the corresponding date for preceding years
Loans sses 1872 300 s9gs.ssspes sss2s5s:;s
b bssstsndoF' q 9is s2sSOo 2sStSS s.SS