New-York tribune., 1884-11-05

Tho most noteworthy event of the week mas
been the discussion a to the rednctlonn interest,"
paid ON deposits by the city banks. Inc fouI'h
National hasannounccd rcducllonto Zp'f ccn''
and il is believed that many Others VIII qul'h!
follow. though ms vet the concurrence oi all the
banks i'm the proposed movement mas no' p''"
attained On account of n statute Wh'h pro
,idps that state and city deposits can be lett
only with banks paving rs hieh as 2'2 per cent.
somp oC the banks desire action deferred uhlh
tho Icpislnture can have time to amend the
law others. however will prohably make the
,h,u,,r on thrir own account. without waiting
e., thn concurrence Of all. inasmurh ~ the
accumulation of unemployed money at TINS
mint ,nnt'nuo. 10 hr inconvcnentlv lntEe.
rhc tosor,oniill exceeds &lln,ooo.Ooo, with
d,,,,,.e of onl, about HVOO.oOo lat week.
spsh II sntnlna nt this nrlson, continued with
nmnn variation FROM midanmmrr n nh7
somt,k phenomenal but II would ho
mI,tak, io n-rumo that the industrial
inactivity to which II ls mninl' due may h"'
ouiclly di.nppcar, Indeed In the simple fact
that 81 lnrge nn amount ol money remains ui-
employed at ALL there ls evidence lha' '"lh'"I-
lists are in daily expectancy oi change VI 'hr
condition of business and IN the markets. ahu
have kept available an extraordinary supply "l
funds for instant use when that change appears
The fact that some money is also coming from
Euronc. and that more is likely TO come, seems
to uoint in the same drcction-rathcr to an eX-
pcctation of opportunity for advantageous use
of money in the near future than to any present
attraction in this market
The dry-eools trade has been especially
ouict. though some large transactions III staple
cottons have been induced hy the low prices.
Unusual caution still prevails. nor Is Il expected
that any change will appear until after the
election. 4 difficulty in making collections
this season j. noticed n one cause oil th'
suegishnrss in business. and. like the inactivity
itself, is probably due in part to the prevailing
political excitement. Favorable weather has
not had the usual effect upon the prices OF cot
ton. which slightly advanced to 90 cents on
Saturday bur the receipts for the week have
been large. 217. eco bales, against 2i2COO Tor
the same week last year. Exports are small.
though the total for the crop year was suil
%. 900 bale, in excess OF last season.
There has been somewhat more activity III
provisions. with free selling and lower prices
for lard. closing at 7.2j for November. Pack
ing at the West having materially increased
mess lltl lk St'lIN dt y 10 ~. a "''''''' 50
to 9al cent, was followed by Il better market
for options ON Saturday, while tea remained
weak. I'm the grain market there was remark
ably little change in prices, wheat for Noyem-
Der closing at 81 cents, against SIS
cents for the previous week; corn at
52l, cents. against 523i cents for the
previous week; and oats at 32li cents
against 81 cents for the previous week. Inc
transactions have been small. In the ilon bu'l-
ncs, no change Is noticed and all parties are
Whiting for a more certain outlook. Stocks ot
coal are accunulating and the manufacturing
demand is smaller than had been expected.
The w?r in rates between the New-l ORR
Central and the West shore caused fall III
Nev-Yorb Central stock To Si cents. New
York Central reduced its rates to SO Tor pas
s,nprrs to Chicago. and the West shore re-
taliated with 1880. II isapprehended that the
Vanderbilt stocks have not rs yet been tie
prcsscd rs far as the chief owners expect, un-
less they are engaged in a deliberate attempt
| to bankrupt the rival company regardless OF
cost to themselves Toward the end of the
week prices in the stock market showed signs
of Improvement, and there was feeling that
strong parties were taking up all the stocks
uilrrcd while cnlcavuring to prevent any ma
| trrial advance Both sides are evidently wait
ing the result of the Presidential election.