New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1882-08-28
aL0NEY IND BUSINESS.

| MONEY And BUSINESS.
Saturdays bank statement was surprise,
| and not only to those who had overlooked or
| failed to comprehend the effect of Treas
ury movements upon the bank averages. No
one anticipatcd the unusual and still neX-
planned decrease in deposits. The average OF
| Treasury balances was $2,226,G97 larger, rs
TO specie than for the previous week, so that
the decline of 50, 142, 900 in bank averages of
specie could have been closely anticipated.
The Treasury had lost $2l74G1 on average
in currency, which, with the loss of $214,9OO
reported by the banks, accounts for $l32,OOO
legal tenders sent to the interior, and there
had been no reason to expect larger move
mcnt. Thus the actual loss in bank reserves
could have been anticipated accurately; the
difficulty is that the reduction in deposits is
$l,3sO,000 greater than the decrease III re-
sources The entire amount paid to the Treas
ury and sent TO the interior is accounted for
in the contraction of 2,G6s, 500 in loans.
But the reduction of SG,10G, 500 in deposits il
thus far incxplicable. The discrepancies
are mainly at those banks which
have large number Of correspondents
among country banks and may. therefore,
arise in some way from the movement OF
funds to the interior. The statement was con-
sidered very favorable, Notwithstanding the
contraction of loans-a step which 1t Is well
understood that the banks cannot now
Altogether avoid.
The condition of the banks ut the end Of
! the week, however, must have been altogether
less satisfactory. The Treasury held on Sat-
! urday So, 15j, 900 more specie than its average
| for six days preceding, so that the banks must
| have held about that amount less than their
| statement indicated. There w9s also sent
abroad on Saturday $3.50 40 III gold. The
reported surplus of the banks was only
! $l,l31, O25, so that it is probable that this
had really disappeared before the statement
was made The banks sent through the Treas
ury, by obtaining silver certificates deliverable
at st. Louis and Cincinnati, $Sl 900 during
the week ending on Friday, and this amount,
with the loss of $l32, 900 in legal tenders by
the banks and Treasury represents the supply
of money from this centre to the interior, III
addition to any sums that may have been sent
| in bank notes. The demand from the West
is likely to increase it, as late dispatches indl
cate, the course of the grain market at Chicago
has invited more liberal shipments thither
| An indication OF the state of things in
Europe is afforded by the fact that the Bank
OF England gained only $4,000 in bullion
during the first week after raising its rate to
i per cent. Meanwhile the Bank of France
gained $S35OOO in gold during the same
week, aud its gold reserve has now mounted
above 100000, COCOON Thursday it was
1908, O13,OO0 francs. \ further advance in
rate 10y the Bank of England is, therefore,
not improbable. The Bank of Germany lost
only $36s, $50 in specie last week. Our for
eign trade does not yet show the steady
Improvement that is desirable in order to
check gold exports the amount OF imports
last week was $lO,9iG,2S3, against -, lI3,-
j27 for the corresponding week last year,
while the exports for the week ending on
Tuesday last were only $G93l, G7I, against
50, 23s ,09l for the same week in lSSl. The
amount paid in duties during the week ending
on Friday was So, 49,, of which $l,oOl,-
900 was paid in silver certificates. A. the
banks took out of the Treasury only SGl5,OOO
of those certificates, they virtually compelled
the Treasury to redeem III gold about 81, 100
600 of them in Il week, making about
81. OOO. 900 thus redeemed at this point since
the Ith instant. The Treasury paid out only
$j2s, go for called bonds redeemed, but has
been discussing largely for pensions, and under
the appropriation bills passed early this month
I'm the aggregate circulation of National banks
there was practically no change during the
| week.
The general condition of business has clearly
improved. Dry goods dealers are remarkably
active, and find their trade satisfactory. The
| large shipments of goods TO the West and
South will help materially to lessen the de
mands from those sections for cash to pay for
Grain and cotton. The wheat crop will be out
of harms way within the next ten days, if the
weather permits, and improvement i'll the corn
crop is still reported. Excessive rain is doing
| injury to cotton in some States, bat the pros
pecl up TO this time has been very favorable,
and suitable weather would insure large
Weld. The price yielded llc. for middling
uplonds last week, though purchases for
consumption and export were of fair quantity.
! The amount of payments through Clearing
! House was comparatively small ut Newly DIRK
| last week, and, exclusive of transactions arS-
ing from sales of stock, probably was
$50, OOO, 900, or ~ per cent, less than for the
corresponding week last year. similar de-
cline is observed at most Of the commercial
centres at present, but the exchanges at nearly
all manufacturing centres show large gains III
comparison with those OF August i'll any pre-
| yious year.
The chaprin Of the Long Island City policemen on
| learning that the sheriff had broken mp poo-seng
IN their village as easily as District-Attorney Nc
/ H.. \.