New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1883-12-31
MONEY tyD RTSINESS.

4
The last week of the year, according to
custom, brings realization and decline in most
| of the markets. In the stock market, special
causes and special efforts increased this decline
| To a collapse in some stocks, but gave consider
able strength to others In grain. there were
good reasons for the decline witnessed. In dry
| goods, the failure at Providence was uniavOr-
able in it's influence In other markets the dull
| ness incident To the broken holiday week was
the chief feature.
1t Is very rare that the money market mt the
| close of the year is so easy, so well supplied,
and exercises 80 little influence upon trans
actions, as it does this year. The banks have
passed through the month Of December without
| important change in their position. They hold,
| according to the statement Of Saturday, about
| S.. 500, 900 more reserve and $4,000 more
deposits than they held at the end of Novem-
| Der. having increased loans about 81 800, 600.
II il probable that the latest statement is little
above the amount Of cash actually held on
Saturday, but the movement last week was
really unimportant. The exchanges were large
for broken week, but in part because of the
| unusual activity in stocks for the month they
will amount to about $3,250,0OO,OOO against
So, 500, 900, 900 in December, 1882, and cx-
elusive of payments probably arising from stock
transactions to about $4,000, 0OO 900, against
s., 673, O00, 600 last year. The shrinkago III
volume of business here, other than in stocks,
will be close to 20 per cent for the whole year
1888, in comparison with 1882, OF which part
ia due to decline in prices, but probably more
than half to comparative inactivity III trade.
The substitution Of Government paper for
bank notes has been rapid during the past week
and month. Last week, the deposit of bonds ms
security for bank circulation decreased
S753, 900, and since November 80 the decrease
has been $3,269,3O0. The amount of money
on deposit in the Treasury for the redemption
of the notes of reducing or hquidating banks
has increased over $3,OOO,O00 during the
month, whereas the whole amount of cash in the
Treasury for all purposes has increased only
So, sos, l24. But against this very moderate
increase of 100000 in the cash not in trust
funds, we have during the month an increase Of
$l2,922,530 in paper promises outstanding
$1,000, $50 in gold certificates, and $7,S67, $50
in silver certificates, while the legal-tender cer-
tiAcates have slightly increased If Mr.. Carlisle
had selected n sane and sound chairman for
either of the monetary committees, these facts
might well be commended to his attention.
The railway movement from Chicago last
week was smal-about % per cent less than
that of the previous week. But the severe snow
storms at the West, which.e mbarrass transporta-
ton, give strong hope of a large crop of winter
wheat, and thus have helped to defeat the clique
that has been manipulating for higher prices.
The fact that wheat Is relatively higher here
already than I'm I.iyerpOOl, and that the visible
supply is increasing, justified the sharp break in
prices at Chicago on Saturday, but those who have
listened to the starvation stories from Europe
may still cling to the theory that this country
can extort whatever price it pleases before the
crop year ends. Corn fell with wheat the story
being that the meditated January corner was
broken possibly a more rational explanation
would be that the innocents came out with more