New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1883-01-02

fell 81, 000 900 deposits declined 100000
600 and The small surplus reserve of Sl56,O25 at
the beginning of the month changed into deficit
of So ,271 1926; At the end of the month the deficit
was only $2,OS7425. Money, by weeks, ranged
50S per cent, 1910 PER cent, 706 per cent
6051 per cont. Loud calls upon the
Treasury for relief were responded to by
an offer TO reduce S. 600 900 per week of the called
bonds. The 1l7th call was issued for S25,QOOOOO
heing the irst for continued 81 to mature Decem-
Der %. On the Goth the exchanging OF GIGS into 81
| was suspended ; amount exchanged to that date
was $500, 900 900. Northern Pacific Railroad Com
pany declared scrip dividend OF 10 per cent pay
| able in January 1888. on its preferred STOCK.
| Union Pacific Railroad proposed new
collateral trust loan fRs T5 rS
roads were seen. Liti0ations between the
telegraph companies BEGAN. Oregon Iransconti-
SeGa Company Goe sOd Its ow
hardship To the mercantile interest and commercial
paper was unsalahle while such high rates could
legally be accepted at the Stock Exchange Matters RS
Ia UhsU ' aud Western leased the line com
| monty known rs its Buffalo extension with
guarantee for the payment of interest on fhe heW
| lines debt and per cent on its stock Ihe bnIl
speculation in stocks, which dated from July cut
minated and prices declined sharply. iollow ea Nv
| snail rally before the close. Reports OF harvest
progress were favorable but without enect Oh lne
stock market Governments weres cay o o T
Dioish SUI Co. other reasons The Bank of England
advapced its rate for diseouHt to per c EN- end 1u
! eoowed n goin of goo 900; the Bank or france
! lost f30o 600 gold The stringencv in money
affected The forei EXCHANGES ana SlgnS onounte5
fell 10 "a S60S4 S6l2; the gold exports alhoun.ou
70 onIv ri G0 600 predictions of an early lmporta-
hon Of gold we're freely made In the vicinity Oh '"o
| Stock Exchange -. a.oodrr contracted
mill the contraction amounted to 10, 100 O0O ana
in the last week were expanaea 400 G ,hao
cash Re no steadily ba depos after decline Of
| So. 500 600. rose $4,000 600 and then Declined
$500 900: the deficit of $2,OS7 400 al inc pegil s
S27ss. $50 and then fell of to 81. 597 800. Money
wo led easier. the range being from 20 to 5G7 per
cent Mercantile paper co,, ae Was made for
| 81 < 600 600 continued IS. to mature January
| IL. 1859. Grain and provision speculat,ohs were
varied and irregular T,' LcusVe and NASHVILLE
| Railroad Company gave notice Ihas II wou,d sen
S12 900 900 of new stock. Change Oh ownersiip u,
! the Nickel Plate railroad was announced much
speculation vas INDUCED in as TO who were tne reai
purchasers. Michigan Ceptral hanroad lssue %
S2,000.O00 ps cent oohds ,.npwti%oiv T,ht
FurtLer indications Of trouble between the North
| western railroads were mated. Al the Stock TX
change the markets were dull p9' ,ne doepos fop
| IN speculation was marked and me oeenos 10. tol
some stacks were important notably IN those Vi tuc
| Richmond and Danvi le s'stem. Governm'Ntss
ruled about steady, but the per cents ltnPro MO
abont q. Der cent. Affairs abroad improved The
Rank of England lost c / 900 600 bullion aud the
Bank of France lost f95OOOo gold he lorgiS
Exchanges were quiet the RANGE for sight sterillg
| being a 81 to 81 S5l9Q$4 SO. There were no
| exports of gold. ,,e- 1oo ooo
| and Then contracted 100000; cash reserve
declined So 100 900 and then recovered - ooo;
| the deposits after rising S4,s0OO 600 declined
$lO500,000 and then rose 100000 the surplus S
reserve of 81 597 800 was changed lntoa dehcIt OF
1921 $50 but at the end of the month the surplus
was 81, 4S1,075. Money was more active the fates
| ranging from 6 per cent TO about oil per cen
and clos No AT 6 per cent for call loans, The 119
| call was made for $l5.O0O,OOo continued os, 10
| mature February 10, 1888. and the secretary
| offered to redeem without rebate or interest," any
| bonds embraced in the outstanding calls TO the
| amount Of $5,000000 a Web and hnllly ne
| offered to redeem on presentation SlO,oOO'OoV Oh
any uncalled 3l2 pee c"nts with interest 10 Febru-
| ary % 1888. During the last lew days OF the
| month over $9000,000 Of bonds were redeemed
| under these offers. General Term, Superior Conrt,
| rendered decision IL the Williams SUIT
| against the Western Union Telegraph COMPANY
reversing the decree of the lower court ana dnclar-
ing the 900 900 stock distributed TO the WRIST
| er5 Union stockholders 10 be Illegal and void. The
ATTORNEY General of the State granted perm sson
| TO brng SUIT for the forfeiture OF the Mutual Union
| Telegraph COmpany'S charter. Denver ana kO
Grande gave notice OF an increase III captdI STOCK
| 10 the amount OF So $4,000 Great depression was
developed IN tine steei-raii business Incidentally
affecting the iron trade, wI1Ch before was
excessively dull Provisions iir5t advanced ana thel
| declined while the speculation IN gram was tame
| without material change III prices business az the
| sock Exchange WAS ac i've but accompanied by
coosiderIhle drpre>sion winch marked lower prices
or many stocks than they had sold at before III two
or hree wears. Investment securities were qulet bul
| weak Iiovemmen Is and lbs ruled about STEADY
bu IS aud CLOS were III better demand al hiehei hB
u1es The Bank of Eng anu continued To- los- bullion
| the decline for the month being 81 ,3OOOOV. lht
| god in the Bank OF France was Unchanged Forelgi
exchange was weak, sight sterling declining tC
| "a SIGe1 S4l2.
UeoegaJer-Bank loans, after n contraction OF
81 200. 900 were expanded SG,sO0,OOO; cash re-
serves rose So, 100000 ana then declined ~ ,9OO
900 deuOsts rose 81 - 100000; ana the surplus re-
serve rose 10 5000 925, aud fell to $3,375,4OO
Money ruled moderately easy all the month
through the range being from 10 10 per cent
| Called bonus presented 10 the Treasury
in considerable amounts. me Northwest IaiTo"o
we're carried at nominal rates. causing cOnsldera
HE depression in the stocks of those roads. Large
purchases Of 81. Paul and Omaha stUc@'
were noted, the sequel OF when seemed
| change IN the control of the road named. Michigan
Central declared dividend of two per ceLt, ,ht
first one in eighteen months. Litigation between
| tue te egraph companies became more complicated
| exports showed no Improvements and The exports oil
| cotton began to decline from tAt
weekly quantities which had been sent
earlier Al the Stock Exchange there
ment bonds for he purpose Of evading taxation and
| All other classes of Investment securities were Gu
| and without lea, ure. The stock speculation was
variable. confined to the manipulation OF q
| lew of the larger operators and to the trading
OF smaller ones. After "A sharp adydno'
| IN prices there was a reactiOn and the month ant
the wear closed with the markets duh and feature
less. The bank Of England lost 33OO,OOo ana TN
| sank OF France, alter gaming t2OO,OOO gold, los
Al the gain in the last week. lie foreign exchange
were more active tnan in Noyemberand at one tlnl
were higher but at the close the figures al p4 o41
Tor sight sterling were steady