New-York tribune., 1885-01-26
MONEY AND BUSINESS.

The mari-nts during the past week have
neither been very active nor very strong. The
prevailing tendency, Notwithstanding much
dulness, has been toward higher figures in
most of the speculative markets. But the
advance in stocks has been very small f; only
small fraction of n cent on the average OF sixty
active securities. The advance in cotton has
been only one eighth. and in lard only one-six-
teenth. while wheat has declined since Saturday
the 18th about cent for the nearest, and III
cents for more distant options. Corn has been
decidedly strong for January; a virtual corner
advanced the price from 523i cents to ooi2
cents, while the advance in February was only
half a cent The price of oats also advanced in
sympathy i2 cent per bushel. Greater strength
appeared in sugar, with an advance to cents
for fair refining, and coffee was iirm Copper
was also firmly held, and tin was stronger, with
n prevailing feeling that lead has touched
bottom On the other hand, disappointment
was felt that more buyers did not appear for
iron. even at the very low rates which had been
reached, but the amount produced and the
reports of resumption OF work by several
establishments Indicate that good many orders
have been placed both for raw and for various
forms of manufactured iron, Mt prices which, If
not entirely satisfactory, still pay the manu-
facturers better than absolute ideness.
The features of the stock market during the
mast week were the reduction of west-bound
rates, the absence of any fixed rates eastward,
and the failure Of efforts to restore the anthra-
cite pool 1t is an indication of very determined
and strong support that, in spite OF such In
Gnences, the prices of stocks did not decline. 1t
il reported that the same clique which has been
opcrating for an advance in wheat is also
managing the Granger stocks for an advance;
but if so il has not met with much success In
either direction during the past week. North
western closes a little higher and st. Paul
little lower; Omaha little higher, and
Manitoba a little lower; and the fear of adverse
legislation in Western States evidently has not
wholly passed In New-York Central and Lake
Shore there was no substantial change, notwith-
standing the reduction in west-bound rates.
Erie and its bonds declined a little, and the coal
stocks were generally weak indeed, the princi-
pal losses during the week were about 2l2 cents
on Jersey Central, 2ll on Lackawanna, and 2si
on Delaware and Hudson. 1t was understood
that representatives of the coal-carrying COM
panies made Ovcrtures to mining companies and
individuals which supply anthracite largely to
the PENNSYLVANIA, seeking to make with them
directly some arrangement for restriction of the
OUTPUT but that these efforts met with no
success. Representatives of the companies are
TO meet again to-day, in order to come to some
understanding if possible
The bank statement shows an increase of
$40, 900 in the amount of cash held, which
has now for the first time gone above
Sl4O, 100000, and of this 500, 9O9,3O is in
spece. The surplus reserve, both loans and
deposits having decreased, mounted nearly
81 900, 900 higher to $50, 1879. 1t is un-
necessary to say that this is the largest idle
reserve ever held by the banks. A considerable
part of the increase, IL appears, has come from
Treasury disbursements of gold certificates, the
amount outstanding having increased during
the past week So, SOC, 900, while the amount of
gold held by the Treasury increased only
S7OO, 900. Thus the balance OF gold belonging
to the Treasury was cut down during the week
So. 100, ,OOO and is now only $129,72O,93S.
Meanwhile, the amount of silverin the Treasury
has increased $1,35O,000 and tho amount
owned by the Treasury in excess OF silver
certificates increased during the week
81 $50 900. 1t was remarked about the first
of January that the apparent reserve OF gold in
the Treasury was in measure deceptive, since
much of it had been accumulated for January
payments, and must quickly be drawn out.
| This suggestion has been verified by the
| decline in gold apparently owned by the
Treasury from $141, 100000 January 1 to
Sl29, 100000.