New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1884-03-17
MnNEY ND BESLNESS.

the facts. The controlling fact evidently Is
that the gold already shipped from this SIDE the
other supplies received, and the changed pros
pect as to Egyptian expenditures have caused
reduction OF rate by the Banl, OF England, and
made money abundant in London. Until there
/ is 4 marked revival of the foreign demand 1t Is
probable that exports viii not again become
large.
The especially noteworthy feature is that TINS
outgo of gold has begun and ended without
lifting the rates fox money here even to an ordl-
nary level. Call loans are now made AZ IL to
per cent. and time loans on diyidcnd-payIng
collatcrals M 3lo 10 per cent, exactly the rates
asked before geld began to 90 out. Commercial
rates were advanced about y per cent ten days
ago, and are now quoted at a per cent Ioi
double and to Sig for single names, against
to 4l2 per cent for double and ll2 On per cent
for single a month ago This is all the ehect
the furry in gold has had on the money market
The exports began February 21. and the aver
age of loans by the banks that week was
! $34t523, 800, while last week 1t was
| 1851 ,OS7, 200. In effect the deposits were
| seventeen millions larger than the loans when
| the furry began, and are now reduced 10
| 1881 .275. 800. The banks have all the time
held and now hold great deal more money
! than they can advantageouSly employ; that tact
explains the outflow without disturbance OF the
money market and the feeling of many bankers
that renewal of gold exports would be not
calamity, but a blessing.
| The effect OF this state OF the money market
upon the market for securities has been very
pcrccptble during the past week. when
| man can borrow money at y or per cent, ana
with 1t hold stocks that are P"II - " ~ ro
cent he Is not in haste to sell ne o'"'Io 'o'
money in commercial operations u9' l"I7''
nor greatly expanding. New industrial "U ''..,
/ t'kinsS are naturally "''" j, "' ,'''''
the course OF Congress as 10 '"' ''l'il nus
/ declared. Capital "'!'"-'u ~ pay i''"'
P"Dl'' "',' ''.' '',1I ,,,, r,Il ,o rra.cut
capital o'h'i "'s' 1u''''''' ''-, '.,,.,4;.
/ 'hIhol I"'A' CAV, '' III '''' ,...-,I,..,
/ OF III io'hS ." ''oS' VIZ i.I.. -.
/ Hence IL Is 'il"' ~ '"'H ""''''' -.
/ cumNtdhce'' l"I-"' ''">' w W. .,+
/ ancc nave 80 niue 'uc''' ~ ,"' '''' va
urdaI, "ut oi 81 ''o'"9 % " '',''. ''''
that DAY 80 were "''l"'''" ''' 80 "''
IduO "i me "N'l'H" II" 1It MUM, P''.' ~
close o"'''"'! was "' I'''V" D;..'l,,,,..'
Ines +.0 per clA.' '.C' e'"nr '''''
Ions I~''.,| ''i' '' ir.-,,,,,,J 1T
"'H"| II " ''', .el ,I,,,i.o and Is
i''"' ',Y ~. r..-1 -cp,cl-T.loud
80 W. w W., -. CIovcl,nd Columbus.
~ ...''; n,1 Inj;,n,roIi. -: Chicago
III ,,,1 %. Northwestern &. Illinois. 81 ::
T.rl-,,,.,,,no e -. Delaware and Hudson, GA !;
N.t,o,olitqn. 81. Bankers and Merchants, CT
pr,l;n,ton and Quincy. 6.5:Jcrscv Central. 81 4;
Wi Central 6 @. Canada southern. T.3;
pn1l,non "a. Omaha Preferred. 10; st. Paul,
76; Missouri Pacific, IS; Lake Shore, is );
| Manitoba. 81: American Gable, 81; Union
Pacific. 9 Western Union, 9.3 Oregon Nayi-
| cation, "a; Central Pacific, 10. Ol these
/ storls L. Weld below 6 per cent, 9 from TO
Nor cent. from : TO S pcr cent, and over
per cent
! The outlook in the world Of transportation Is
not pleasing, for the quarrcls between the trunk
lines seem to grow worse instead OF oeIleI'
/ Many recent returns, however nave Drought
into strong light the fact that most OF the good
roads depend mainly upon theH local anu noH-
competitive traffic for success. BY the rcduc-
ton of rates just ordered, the roads are likely TO
secure vast amount OF traiilr "hlch would
otherwise 20 to the water routes HtIic I"'cI'
On the strength OF tliS chahHe' III ''' ''''T III
grain was commenced III chicago Oh ""Iu'u'S'
and very strong operators are 'olu 70 navy "
hand IN II. But II remains 'lo iao' 'l"' INC
spectators have so lar kiIleO 'hcll Own game
by dishonest practices tna1 inc PUOno "''''
them very much TO themselves % 'neie i ID,
been nothing put I"'p"'''U ma! - 1'.'
since the otahuaru OoIlip'n? i"euo 10 1,,.
and arbitrary uIop III 'Iic P'icT % i'"I'"' ~
! market IA,
Friday advanced shadc' Dul ueallhS9 were
/ No in1Dnpt1ut change anDearS