New-York tribune., 1882-02-20

Notwithstanding the poverty of the banks there
seems to be an abundance of capital seeking tempo
| rary employment OD call loans so that while the
| banks getting per cent upon any business
| they do, the rates at the Stock Exchange rule
| generally easy at J04 per cent. Unques-
| tiOnaby there is a certain amount of money
that is daily employed to establish the rates in the
market; this was seen two occasions last
week, when by too much eagerness to depress rates
the whole sum employed was permitted to
be taken up early ia the day. and later
| demand from borrowers carried the rate TO G.
and even to that plus commission Of
| 1872 per cent on one occasion. Time loans OF
good stock c0llaerals rule firm at per cent, and
little commercial paper passes at less than the legal
rates. Since the New Year there has been a move
ment toward q contraction of National bank circu-
atOn, but it has been slow, and, until last week
so small to fail to attract attention. Even now
tue only significance there is, il any, in il,
is the fact that the movement has been
almost continuous and not spasmOdc. On January
1. the amount of bonds held by the United States
Treasurer to circulation 1871 692, 100;
Yesterday The amount held was 1870, ,629, ZOO a
decrease of $1O62,40 which repre-
sents deposits of 1862, 2,2G0. in gold or
legal tenders, to redeem that amount of
bank notes. OF the total amount of bonds thus
withdrawn since January l, $341500 were
Withdrawn during last week. Tho domestic ex-
changes except at Chicago and part of the time at
ST. LOUIS, have not ruled so as TO effect a movement
of money in either direction Chicago, however,
has taken some money, and probably there have
been shipments made further West and South for the
use of construction companies, which Will account
for the movements illegal tenders and National bank
notes that arc Indicated by the bank statement.
Iatoo Of NJ m avv-Y -YorE nj
the places named are as follows Savannah, ls8as
premium; Charleston, 1sOlt premium; New
Orleans $1G$2 premium; st. Louis, % cents
discount; Chicago S0dS5 cents discount !;
Boston, par. The foreign exchanges duh after
the first part of the week and what business there
was done later was more in long date than
short bills Hence as n 60-days bill does not re-
duire to be covered by an immediate remittance
there were shipments of gold by yesterdays
steamers. Rates, however firm and for ac-
tual business we quote; Bankers bill, 81 SAL and
81 s9loQ$4 S02l for long and short sterling re-
spectvely; francs, 5.13as and 51SA; marks, 94's
and 95l2, and guilders, 40is and 4O's
Last week was marked by important events In
commercial circles. There was further great de-
preston in prices for all our products, and there
were many failures some of them Important, Doth
In the cotton and grain trades. Az Cmcago the de-
preston was great thab at ONO 'in'c d paiiic
seemed to be inevitable, but rally occurred
that at.least gave time for more quiet liquidation
At the close however prices again were falling, and
Yesterday the decline in wheat was from to cents
during the last fifteen minutes of business. The
proyision markets fully sympathized with the
grain markets Notwithstanding the large
decline in prices for grain during the week
the movements eastward from Chicago again show
n decline from the preceding week of 250,is2
hnshels $3.50 car oadsl or - per cent, tele-
graphic dispatch from Chicago states that the ship
ments for tho week of hour, grain and provisions
We're 10 900 tons less than for the preceding week.
Much is said about the decline in cotton aud gram
stimulating exports but the facts do not yet seem
to warrant the conclusion. IL Is true there