New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1882-11-13

Deficit
Tn the local money market last week the rates for
call loans nuctuated between and 80 per cent;
early rates ruled at the high hgures, l502O per
cent but after Thursday the order of the Secretary
of tho Treasury to prepay the bonds OF tho Iloth
call maturing January IL, without rebate OF inter
est: eased the market and after that the rates ruled
AT a per cent not counting yesterdays late bust
ness ot 5q4 per cent Under the offer to prepay
The bonds of that call, about $29OO,OOO we're pre-
sented and paid on Thursday Friday and Saturday.
The total amount of the bonds of the 10th, 117th
and 1sth calls redeemed at the NewYork Sub
Treasury to date is $l6602,43O mas
much as the banks now hold $7.S65,30O
less cash than was held at the
same date last year, while their loans now are
81 $3.50. 400 greater than they wero then, and that
after tins date Last yea the reserves we're reduced
from S75, 64l 900 to $70599,300, the speculative
mind ia moved with anxiety TO know If the redemp-
ton of bonds of the 11Sth call after the first three
or four days Will proceed as slowly as it has with
preceding calls. In anticipation that 1t VIII pro-
coed only slowly tho suggestion already is made
that Secretary Folger should extend tho offer to
redeem tat the rate of 50 900 900 per week. to the
bonds of the 10Th call The Secretary seems TO be
issuing calls for bonds without regard to the
estimates of receipts and the appropriations for the
year. The appropriations, including interest and
pensons made at the last session of Con-
press. lacked only about $+0000,000 Of being
equal to the estimated receipts OF tho year. AS to
money accommodations In the Treasury, even with
the slow presentation of called bonds, the Treas
urer's statement of November / showed that the
actual cash held at that date was So 677 Sl3 less
than the amount held on August l, aud the demand
claims against the Treasury on November l were
considerably arger than they were at the earlier
date. 1t to be hopel that the Secretarv's desire
to show that he bears no malice because of the
result the election will not away with his dis
erection ~ the chief financial officer of the Govern
ment. Had speculation not been encouraged by the
earlier promises that the Treasury will keep the
money market easy" there now would be less me
cessity" for the Ireasury's supervision.
The demand for money az the South and South
west is still large, aud Is likely 10 increase, rather
than 20 diminish till near the end of the year. In
there ~ To DC any import ant movement OF the spring
wheat crop (which, however does not seem lkelyj,
large sums Will yet be- required for that section Of
the country. The domestic exchange on New. York
al the places named are quoted as follows: Savan-
nah, sd 4 discount Charleston, b-l0a Is discount;
New-Orleans, III 75GSl 20 discount Tor CONNER
cia am par asked tor bank bulls ~. LOUIS 81 GI75
hts discount Chicago par; Boston, l2U5
cents discount. Tho foreign exchanges
again were dcmOraliZed by the strngency in
money. and rates weak on the basis OF ~ s0ai
GTl 81 for bankers 6O-day sterling and 81 SiJiD
III 80 for sight. A Is shown, the foreign movement
4 merchandise ut New York last week made ia
yoTable Comparison with that of tho same week OF
1851 bat small gain Oh 1881 goes only little
way towar reestablshiDg an equilibrium In the
foreign balance If In u twelyemonths following
year to October /, 1881 which showed Custom
House balance on the years movement oil $lO2.-