The Dallas daily herald. [volume] (Dallas, Tex.) 1873-1887, 1884-03-14

its amount, hut the surplus above the
legal ratio 81 reserve 10 depos /,
9 stlil tl2 $40 676 Az lhis dc Q In ,acn VI
the tour previous years ths reserve mas been
near the lowest spiing ievsi, ranging from
about t6s,W0O00 In 1881, to sbont ST..
GO u0 In iss2 he smouD' N 1883 being
about soo $4,000, aud IN 1850 snont $40.
VpWu, nut " 10 now over tlOl 900 100.
Las year the banks we're close 10 heir
greatest dehn't for the year and we're over
so,uuu,Vo below he lssnl ratio OF reserves
10 deposits; THIS wear al The same date they
stl hold ! ~ $4,000 more than the legal
ratio, and II vouid take three weeks N lo .
a. great az that VI last week To bring them
down ~ last years leyoi, - TO surplus, aud
over four ~seks OF losses at the rats OF
81 coo 600 saoh week ~ bring down thu cash
To ths amour, held q year seo. Hence II IN
not strange that money ~ sbupdans aud
easy, aud the market free iTom gppTehen.
sion. The strange ieAsare 10 that there 10
great abundance without any COMMERCIAL
or speculative activity to employ u.
Looking back, however. 80 HID thst Tor
three ysnrs there has been amssing ,peculs.
tive activity, without warrant In cores.
ponding expansion OF legitimate trade.
The speculation naturally burned itself out
and came TO grirf, first In one branch
and then In another, until ~ last
there seems 10 he . healthy fear OF
w pFltfo Without sun
s'snuai treason In progress OF legitimst,
businsss. Just nov congress has "sst
upon" legitimate husinssS by threats Of
legislation, and ~ speculation waits. Blu
utvithslnndinR the inactivity ana the
scanty demand Tor money, tho government
mill continues 10 giind NJ moro currency,
aud The snsersbundsnce, which no long
,timulai unhealthy rpscuis'ion, still con.
tinues to increase, More silver is added
every week. and now tho pond begins 10
run over, gold going ont and silver and
paper remaining, Of cosfaa.
Speculation IN stocks lsst week was ~
tame that II nsedp no opnimrnt. the con
spicuous fsa' ure was inactivity rather than
weakness. for the average price OF forty
most sctiye securities was tb9.02 Of the close
on Friday, md $685. a, tue coso on Sat
urdsy, against iD5 ~ a, tue oiose on tue
previous week 81 sight change In the
average Ut pricer, though there wefe con.
eideraOle changes ~ same ftocks. shows
how pufpoesloss and uIesD ngless tie mar.
Ket was. Yet this same state OF things has
it's significsnce; there would DO no lack u
savsre sticEs TO break prices, N n great
proportion of the stocks that hive vnlu,
had not been gradually absorbed hy invest
or. 40 some OF the spsculsIsfs have learned
to their cost.
There 10 evidence. too. that much toe
same csuse--n reaction from excessive aud
ulkAafOua hprCulatlOn -hCCpunts lOF Tue
present inactivity In other markets. Cot
ton mas not changed 10 price Tor spot, but
sales have been very small, recrlpts aud
exports are small aud the tendency OF
what little speculation thers is sssms to he
toward lower prices. The speculative
cliqnes that have been labor ng so long 10
s,t somebody 10 buy wheat aud coru from
them al high prices, after manipulating re-
ports and markets for months show signs
~ wserinsss, and prices ssttir down gTsdu-
atty Ia toe absence Of the sxpscted foreign
demand II cah no longer be denied that
ihe earlier reports np to crops abroad wers
greatly colored in the interest OF these
cliques: the beat proof that Europe
Is not Starving 10 tbst Europe does not buy,
nut prciers gold to gram. Lard aud pro-
visions have been dull aud. lower, ~ 10 nat
ural With corn sbnndEnl aud cheap. Oil
has viorHted abou.sl rs a pivotal price.
though closing strong 81 81 % Coat no,
been m.teri,lly Affected 10y tho compeu-
ton of Dituminous along the seu coast. Tue |
expar zion OF the anthracite ira do in the
lake region 10 expected 20 compensate,
however, FOR amy decrease inconsumptiuI !
on tho ssabNHrd the market for dry goDdB |
has clearly improved, though the demand |
il still so cautious and rpttrlctrd that no adj |
vance npprars, ans IN ow grade Drown and |
b eached cot ing there was some concea
sion. PRINT cloth isll 10 3l.3 cents for Ga |
by GA. and wooden goods sold freely only |
o. gNod qualities and at low prices. Tho
market for textiles iS waiting for congress
70 get out OF the way.