New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1882-07-24
THE MONEY MARKET
SUNDAY, July 2J-P ,

SUNDAY, July 23-Px
The foreign movements Of merchandise at New
York last week present another unfavorable trade
balance, ~ well as make unfavorabe comparison
with the movements Of the corresponding week NJ
1881. The imports for the week are SiOfG17a
greater than for the same week OF last year wbjIo
the exports are $64l 500 less. making difference
against the port of 81 ,6S7, S7S. The value of tina
merchandise imported last week was 11,443 200
and the value Of the exports was SO 72S,l 1872. Re.
sut-debit balance of $I715.O77 against a debit
balance Of S27.1 100 on the merchandise moyenent
OF the corresponding week Of 1881. For the twen-
lynne weeks since January this year the yalue
of merchandise imported is $i4,55OO2I greater
than for the corresponding time in 1881, while tia
value of the merchandise exported is $50. 1O790.
less; difference against the port, $40 057 $50. For
tho twenty-nine weeks of last year the import,
exceeded the exports only S27, s59, 1877; this yea,
the imports exceed the exports $l07817 722; diE
ference, as before stated, $79.957, 1926 To data
last year the imports OF specie ut thspOrt $3.50 49,
3l3) exceeded the exports by the sum of S236s4
1888; 10 date this year the exports of specie Cs37
S4S.S1O) exceed the imports by the sum Of
$31, 1915. 2S5-a change OF Sj9,451Os0 to
the credit Of the port, yet lacking 500, 508st5
of equang the increased debit in the
merchandise account In connection with this
fact il is well to state that greater care
in the compilation of the weekly statements AZ the
Custom House is desirable In Yesterdays state
ment OF specie exports, by the duplication Of an
item of $75O,0OO, the exports Of specie were re-
ported at - 4G9, 426, whereas they amounted
only to $1,71942G, The error being that of dupli-
cation was easily discovered. but the omission Of
one item, such as occurred few weeks ago. is not
so easily detected. without absolute accuracy tho
statements are worse than useless: they sha uld
always be verified before being given TO the pubic
The following shows the imports and exports,
other than Of securities, at NeyYor since January
l, for 1881 and 1852;
IMPORTS.
,o-,on,.o so ISL = 40 COX. 9 S ~ m, Pa@re77'
specIc-.-.-.... So'i5s.5i3 2os.5i8 Dec. 5000 %
Total imports. s2G8753705 9ol Inc. sl6l7422e
EXPORTS.
1881. 1880 Differences
Merchandise go. s2l07l5 6j5 s755oG75l Dec 50 900
spece-...-...... 6473525 %7olS.9io Inc. JlSio451
Total exports s2l7Is9lsO s2l3,l5656l Dec. SioS2cis
he port @ 5l545s5 72o5Il3 Inc 2o5oGsi5
Except in the expansion of $500, 800 IN loans
Yesterdays weekly bank statement did not di,ap-
point an intelligent expectation. An increase IN The
amount of deposits that sabout s., 100000 greater
than the amount Of increase Which the otter
changes call for simply offsets a discrepancy Of
about the same amount IN the other direction IN
the statement for the preceding week. and furnishes
one more example of the error in making bank
statements by the system of averages" The
movements at the Sub-TreasuTy for the week ended
las. Friday night exclusive OF transfers, receipts
for gold bars and redemption of certificates of de-
posits legal tenders), resulted IN loss to the
banls of 81. $40. l0I specie and gain Of Fl,7H
currency The currency movement, whether 1t vas
in legal tenders or National bank notes OF course
had 10 appreciable effect the bank averages.
The loss of 81 $40 10l in specie to the Treasury was
supplemented by the export of $l,497.0OO gold,
making total withdrawal from the banks OF
20 S67. 900 specie That amount Of actual loss was
so distributed through the week that, W
orr calculation, it should appear IN the
bank averages as loss OF aDOus
81 .5OO. 600 specie The statement reports loss
llyeragel of SI,G77.7 700. Therefore, assuming thas
thc statement Of July 10 very nearly represented
the actual condition of the specie reserve at the
close of business July II, 1t probably did, 1t iol-
lows that at the close of business Friday, July Il,
the banks held about 81. 100000 less specie than
the amount reported as the average for the week.
The loss OF $46S, 800 in legatenders reflects al aY-
erage of movement of currency to the interior
which is difficult to accurately measure. The weeks
movement results as per averages, IN loss If -
1920 in money and a reduction OF .. 46l 90
in the surplus and leaves them al -1p9S''
SEQ. against SlO ,O7s 700 at same date IN ISL.
The following are the comparative totals Oi tao
statements of JUly - and JulY %: