New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1882-05-01
9 date for preceding years:

The money market during the whole week was
easy, although on the last day OF the week there
was a spasm of activity that marked rates for call
loans up to per cent the prevailing rates were
204 per cent. A single shipment of S25O,OO0
gold in the middle of the week. however, serves 10
remind us that the money market does not depend
entirely upon the interior movements of currency
and that it possibly may get beyond tie power
full effects liberal purchases of bonds by the Treas
ury. new source of temporary absorption is Dc
veloping rapidly. Yesterdays Treasury state
ment reports that last week the withdrawal OF
bonds held for circulation exceeded the anoant Oh
bonds deposited by the sum OF S922oo"
That statement makes it certain that Se3O,2ou
In lawful money-god OF legal-tenders-
was deposited to retire bank circulation; but 1t 10
not certain that that amount covers the full sum
that was so deposited, because the Treasury state
ment makes no distinction between deposits ano
Withdrawals of bonds that simply exchanges oil
one class for another class of bonds and actual WIZ
drawals by deposits of money and bonds deposited
for new circulation. The Secretary is impoyerlsnr
ing the Treasury reserve by rapid retlrementd
bonds which marks the AZ and per cent bondsu
abnormal figures at which banks cannot afford TO
use them for circulation, and hence the seeds OIL
future sharp cOntractons are sown, aud this az
time when a large foreign drainage OF gold Is I'M
minent which may reach such dimensions as 70
make heavy drafts upon the Treasury's gold re-
serves. Even that class of economists who
heretofore have ridiculed the idea OF any
inlpoi tant export movement of gold, admii
that the 81 uation is critical and hat rates hsys
been kept down (artifciallyl only by consideraOe
exertionr The exports of gold last week would
have been la rger than they were except that 'n0
market for foreign exchange was supplied by biio
I.t.. 81, m
Panama Canal Company for purchase of the Pan
ANA Railroad. IL is stated that exchange 10 tn'
value of nearly $3O0O,000 yesterday Was drawn
against that payment. The borrowed exchange
will begin to mature early in May. II desired thr'
will he no difficulty in the present condition Of 'n'
European money markets, in renewing the io1He'
but perhaps II ~ not for the interes; OF tno o
rowers to make renewals. The closing rates loi
business were a. follows Bankers bills p %
aud 81 90 for long and short sterling respecu's9'
5.lOi2 and 5.l3i2 for francs: 95ls and oo's lo
rcichnarks and i0la and 40"s for guhdefS' 1'
dom, stic exchanges have been steadily ia'oia'''
10 New York. except at Boston, and there ths i'
has advanced. The latest quotations for New-ioiN
exchange at the places named are a iou'ws' "a
vannah, ls03s premium; Charleston, isa P.
MUM; New-Orleahs, commercial 30 cents "HN
bank $2 premium st. Louis 81 premium Wv
cago 20 cents premium Boston. IL 20 cents o~
count. =,
So much interest is felt in the forthcoming anhusA
report of the Lake Shore and Michigan Southern
Railroad Company which is o. be made ~ 'ns
cou,panys aunua, meeting IN Cleveland or My ~
and of which we have secured MI advance Sopy.
that We make room for an Analysis oi ~. !. ~ I'm
oulssou of our usual statistical review OF nho sc
merclal situation. Therefore we adopt INC 1T ~
nlfr,ial and Financial Chronicles brief s4mmsiy "A
I'm. commercial situation, first remarking thas ...
journal usually views the future through 0'"
coored spectacles: 49,.
The weather continues unsessonably cold. ana -
have hen loo al storms and foods doing some dsase;
,etar,ing planting operations and the de'eIopsa az.
cpon.- uences unfayorsble " activity IN u"o"