New-York tribune., 1883-12-10

The iron markets, both tor raw and manufactured,
are without substantial changes from week ago.
As noted then the fact that prices arc on the bed
rock of cost of production stimulates inquiry
for job lots at concessions from the current quota
tions for standard makes. With the reduction In
production that already has taken place, IL is
not likely that lower prices for iron will be made.
Despite the utteranees of coal officials the known
facts do not warrant belief that the anthracite
coal trade is IN satisfactory state. Thas trade
is too closely linked with operations at the Stock
Exchange TO permit official announcements Of its
true condition. After considerable discussion, the
companies have agreed to suspend mining Oh De
cember l3. II, 10, 20. 2l, D. -, 20 aud 26.
In financial well rs in commercial circles. the
interest centred in the organization of Congress
and the recommendations contained in the Presi-
dents message aud the report of the Secretary OF
the Treasury IL is hardly necessary to say that
such recommendations as were made were too vague
aud indefinite 70 give general satisfaction But
much qualification rs felt and expressed at the atti
tude assumed by some of the leading Republican
members of Congress on the silver question. As Sem
atOr Morrill, showed in his able speech the subject,
not dollar of the silver certificates outstanding
will be redeemed by payment therefor Of 4l2i2
grain silver dollar, but will come back To the
Treasury par with the 20 & grain gold dol
lar in payment of duties and all other dues to the
Government. On December | the Treasury held
Sll7 76S 96S in silver dollars, S4624279 In silver
bullion, and S26 969,6l1 in fractional silver coin;
total in silver Sli9.302,S59. Against the silver
dollars there was in circulation SS7 7076.201 of
outstanding gold certificates there were S5S ,S97,-
$40 making total amount OF money FOR when
the Government simply acted as an unpaid Gus
todian and guarantor for It's safety OF Sl40,s|3'-
S21
eNplaInable, movement on Monday in She local
money market, when the rate for call loans went
up 10 per cent. the general monetary situation OF
last week was as like possible the situation OF
preceding weeks-plethoric on call Oh deposits of
any kind Of collaterals at 2D2l2 per cent, easy at
303l2 per cent on time with Governments for col
lateral and about per cent for time loans on mis-
cellaneous securities Considerable money was sent
away last week-mOTe than the conditions of tho
domestic exchanges seemed to warrant; but tho
money markets at the West are tight, being bur
denod with the carrying of large stocks oi
products. Yesterdays bank statement, compared
with that Of 1882, is az follows; Assets-LOans
now are S23 60l 700 greater specie Is u ,505,5OO
ureater; and the amount of legal tenders ~
$7l38, 100 greater (tGtal cash. Ss,673,60O
greaterl. Labilities-Deposts are now $33 ,424 400
greater, and circulation is $2,97O. 700 less The
surplus reserve. measured by the rule of 20 per
cent TO deposits, now IS S4,670,7oO, against
So, 1903 $50; and tho proportion of the total re,
serves To the deposit liabilities (264G per cent?
is Il. "a per cent less than at date 1882.
At the Stock Exchange the speculation ran IA,
vorable to lower figures all the week through and
closed with partial rec0veres on the last day
Aside from the general causes affecting the spec9-
latve market such rs an absence OF an outside
demand, either domestic or foreign, the special
| factors of last week were the development OF
| troubles between the various railway pools. Ihat
tho troubles at the West-even so far west as Utah-
which have grown from extensions of each of Tho
separate systems into the territories of each other
have assumed serious shape IT idle To deny. and
the retIcence ,ou the subject of Western
|
! this city has tended to mystfy rather
than elucdate the situation. Nearer home the
affairs of the trunk, line pools arc held u equal
| mystery; but enough is known to establish as
fact that there are many knotty problems yet held
| in dispute In such the real facts are always
| known TO q few. Last week the evidence that the
| large sales of stocks made by insiders was SO
| apparent that it is indisputable. The theory OF
board-room traders is that the sales were made for
the purpose of depressing prices 10 be able To
| buy back at lower figures; hence tho declines for
the week. which range from u to q per cent, we're
stubbornly resisted by that element. Of conrs.
there were short" sales following such an evident
outpouring of long" stock, but that class of sales
was confined to a very few of the larger bears.
Conspicuous in the weeks dealings were North
western, which closes s lower than week ago,
Shore, New-York Central, Michigan Central and
Canada southern after yesterdays advance record
Pacific shows loss of %, the preferred stock i'd
Oregon Railroad and Navigation L, and Oregon and
| 1TanscOntinental 5a Union Pacific is 2os lower
aud Central Pacific is unchanged. Among the coal
stocks, Reading is up lSs, and Delaware, Lack