New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1883-03-19

During The week the Sub-Treasury ISSUED
$780, 900 aud cancelled $40 900 of the new gold
certificates, leaving the amount outstanding lin.
Guiding that amount held and counted as coin al
| So. 33j 900. Ii also redeemed 100000 legal
tender certificates, S205.000 silver certificates and
1888 900 mutilated legal tenders and old National
bank notes and its receipts included $50 600 gold
coin in exchange for silver certificates to
be paid out at New-Orleans and ST.
Louis. The local money market worked
close all the week aud business on ordinary Stock
Exchange colaterals paid rates of from 10 to per
cent for call accommodations; there were almost
daily late exceptions at lower rates, but the fair
average for the week is II per cent. 1t IS note
worthy fact that the best stock houses in the street
firms that seldom are borrowers at the
Stock Exchange-pad tho highest rates
for money On pledge of Government bonds
the rates ruled at SAT per cent. Time loans are
not negotiable, and mercantile paper, while nomi-
nally quoted at Gas per cent, unstable. There
was a good deal of talk about the money market
being manipulated, but neither tho bank
statements for series of weeks nor any
thing else indicates that such is the case
the market Is stringent from natural causes, and
therefore lenders of money have command of the
rates. Little less than $2.000,000 of gold has ar
rived here from Europe and will he available early
next week but the sum which has already arrived,
when il reaches the banks, will hardly cover the
amount of shortage of the total reserves from the
figures of Yesterdays sta tement; in the meantime
the banks will continue to lose cash by remittances
to the interior and by absorption at the Sub-ITcas-
ury The action of the Secretary in regard to pre-
payment of bonds iuclu lcd IN the call maturing May
is an unknown factor in the situation but the in
dications yesterday were that beyond paying for
So 900 900 Oh April /, winch are held by the State
of New-York, nothing will be done. A child, how
ever can make as nteigenta guess upon that point
as the most experienced banker. If the Secretary
should order the pre- payment Of the bonds with in
terest TO date of presentation, 1t would afford few
davis relief to the extent probably of about So OO0
600.
The rates of domestic exchange on New-York |
anctuated slightly during the week. and closed at
the places named follows Savannah, Is discount
TO ls premium Charleston, 1-16 discount to ls |
premium New-0reans, 81 discount for CONNER. |
,ial aud 81 premium for bank St. LOUIS, 25 cents |
premium; Chicago, 1880 cents discount Bos- |
on, 50a40 cents discount. Considering the |
lInOst entire absence Of mercantile |
demand. because of the difficulty attending the ne
collation. of mercantile paper and in the face of
teady supply of commercial bills the rates for tor
ign exchange remain remarkably firm; they are
over than they were u week ago. but the rates Tor
business are on the basis of 81 81 and III SO - re-
pectively for bankers long and short sight ster-
ing.
Tho commercial and mercantile situation presents
10 startling changes the last review. Better
eports of the growing winter crops were received.
DOT h from home and foreign fields, and prices for
grains declined in the homo and foreign markets.
The export movement OF cereals continued