New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1882-09-11

Last Saturday there was another OutOurst or
establishment in Wall Street, when the bank
statement showed a large loss of reserve. But
people we're taken by surprise only because
they had not intelligently observed facts pre-
viously published. A great increase in the re-
serve was expected because the Treasury had
paid out in two days over $f0OO,OOO more
than it had taken in. But the bank state
ment does not show actual holdings or re-
GENTS. actual gains OF losses, but averages for
six DAYS ending with Friday. 1t is, therefore,
affected, not 10y actual receipts or payments OF
| the Treasury, but by the averages OF treasury
! balances for the six days. 1t happened that the
average of specie balances i'll the Treasury for
| six days ending Friday the Sth was SoS,O34,-
| S11, and that the average for six days end
| inc Friday the 1st had been $S7,OO5, SCI,
| so that the effect of Treasury movements upon
| bonk averages was to cause loss of 81, 04S,9 $50
in specie reserve instead of Il gain. This was
was not all, however. The Treasury had
transferred Sl,2S0,000 in silver certificates to
| Assistant Treasurers elsewhere and Slo5,OOO
| to Washington, so that the actual withdrawal
of money from the banks had been 81, 405, 900
| greater than it appeared from Treasury bal
ances. In addition the banks had shipped at
| least %25O,OO0 in gold to the interior, and
| some silver certificates besides to points where
| there is no As sstant Treasurer To save them
the risk. These facts fully account for the
loss of $2GsS, 800 in specie average which
the banks reported 1t appears also, that
they must have sent out large amount in
legal-tenders, because their average decreased
S47s. 900, while the Treasury average also
decreased $l74,lo6.
The banks were evidently stronger at the
| end of the week than their statement ndi-
Gated, for the specie balance in the Treasury
on Saturday was 50, Gil 900 less than its aver
| age for the SIX days preceding. But the move
| ment of money to the interior, otherwise than
through the Treasury, had probably continued.
Beside the 81, 800, 200. sent through the Treas
ury by orders to issue silver certificates, the
banks shipped during the week S250,000 in
gold. and probably $3.50. 1000 in currency, and
drew from the Treasury here S2601, 900 in
silver certificates of which only $l,S070O0
were used at the Custom House. 1t may be
inferred that at least part Of the remaining
100000 was sent to points where there is no
Assistant Treasurer. Disbursements for called
bonds have exceeded $1,000 900, but con-
siderable part of the money has been only
paid into banks here for immediate transmits
SION to corresponding banks in the interior, as
the unusual movement of silver certificates
clearly shows 1t is not to be expected that
the redemption of called bonds will any longer
balance the excess of tax receipts over ordinary
expenditures of the Government, and the
money market exhibited on Saturday strin-
gency unusual for the close of week. Money
was in demand at 7 per cent, even after the
board closed, nor il this strange when 1t is
considered that the banks in order to prevent
too great IA deficit, have contracted their loans
81, lj1 500 last week, and -, 800 900 in three
weeks.
The past week has been one of weakness
and rapid decline Ill wheat, corn, oats and pro-
visions but speculations in cotton and petro-
leum have been maintained with small adj
vance in prices. The adviccs from the West
are that large wheat crop has been almost
wholly secured, and that excellent weather has
made remarkable change in the prospects as
to corn. In some conservative estimates it is
now conceded that tho wheat crop ia likely TO
prove moro than 800, 100000 bushels, and IA
few who have not inclined TO extrayagant