New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1882-02-06

| Deen made with no important failurcs pnt "A
Nv no means clear that 10 has not been done nv A
s'ah'nRoi accommodations that serve. 10 prevent A
panic and gives time for more gradual liquidation
There was feeling Of relief after settling dav In
| tfe middle OF January was passed, but we then
wrote that safety had been sought in time and that
1t would be mistake 70 suppose that the danger
was passed. How much the danger has been loo.
sened by the February settlements dcpepds unon
how far those settlements have been accumulated
by extensions and by advances. These matters
however, were not the primary cause of an exrort
of gold from here, but unquestionably they have
fastened il, and to extent will swell the total
anountof gold that may be sentaway. The true cause
for the balance against US, outside of that made by
our importaons Of securities is ourOwn foO-hardi-
ness In holding all our nroducts at such high spccu-
iative p.ices that it has gwen TO other producing
countries the British market for grain until her own
markets are well supplied that our surplus.
if we have any, is wanted only at her own figures.
The local money market was irregular during tho
week. At one time call loans commanded a COM
mission OF 1-l6a 1872 per diem in addition
to legal interest, but the common rate during
the week was per cent and latterly per cent.
Time money however, is firm at per cent and n
commission. and first class mercantile paper passes
at per cent The United States Senate passed the
Sherman per cent funding bill with the following
clause in it:
SECTION 2-Any National banking association now or
ganzed or hereafter organized desriDg withdraw its
circulating notes upon deposit Of lawful money with
the Treasurer Of the United States provided in section
Of the act OF juno 90 1874 entitled An act fixing tho
amount OF United States notes providing for redisrt
button OF National bank currency and for other pur.
the Controller Of the Currency ts Intention to deposit
lawful money and withdraw It's circulating notes; pro-
shall be deposited during any calendar month for this
purposes and provided further that the provisions Of
this section shall not apply 90 bonds called for redemp
ton by the secretary OF the Treasury.
This provision is hardly less Objectionable than
was the one in the per cent funding bill of last
winter, which created such alarm among the
banks, and it Is not improbable that any general ex-
pectation that the present bill will become law
will be accompanied by like movement on tae
part of the banks to secure control of their prop
erty, while they may do SO under existing laws.
The domestic exchanges on, New-York at
the places named are quoted as follows: Savannah,
ls0Ss premium; Charleston par to Il premium;
New-OreanS, 81 to So premium ST. Louis, 70 cents
discount; Chicago, 80 cents discount; Boston, rs
$50 cents premium. The foreign exchanges were
strong all the way out for demand bills, while 60
day bills; that probably represented loans on stock
coaterals, were freely pressed for sale. The last
Bankers bills "a "a and 81 30 for long and short
sterling respectively; francs, 5.l2 and 5.lsas;
reichmarks 9l94 and 95S4, and guildcrs, 404 and
1913
After the experience of tho last six or seven
months the speculation at the Stock Exchange last
week developed novelties. The week opened
with prices depressed III continuation OF the shrink
age that began on the preceding Saturday. But. aa
has been the lnVarlable rule lattery, an event that
naturally would cause additional de-
preston the incentive for civ.
ing TO prices an extraordinary support. Such
has been the case for six months and such was
the case last week when IL assured fact THAI
SD 600 900 or 81, 900 900 of gold would be exported
during the week. After such eXhibi ions, which
always have received aid from the covering Of
shorts that were made because Of the superstition
that effect would follow cause in tho good old way)
has been in order to call attention to the strength
the market has shown in the face of such
adverse circumstances. And that part of the pro-
gramme was not omitted from the operations of last
week The business IN stocks for the week
amounted to 2,337.6 shares, against 2,702,259
shares for the preceding week. But in one respect
the market Of last week was the
exact counterpart of that of the pre-
ceding week. After being strong for four days
out of the six to excite universal comment,
aud wonder that it should be so under the circum-
stances like that of the preceding week the final
result is that large majority of the active stocks
closed lower than they did the preceding Saturday.
The notable exceptions are Northwest common and
preferred stocks, Delaware, Lackawanna and West
ern, Delaware ana Hudson and Union Pacific.
The Richmond and Danville and the Rich.
mond and West Point Terminal continued to
advance and sold at $40 and go respectively.
and Columbia and Greenvlle preferred stock.
belonging to the same group as the Others. rose
from 80 TO 1040100. Concerning those stocks,
for which no reason is given for the figures they
command, it begins to be asked, =" Have we Union
Generate among us n The week closed with mar.
ket that looked weary, but the distribution Of
stocks has not been successfully large.
WEEKLY RANGE OF PRICES.