New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1885-05-25
v0\ry AND BUSINESS.

Continued accumulation Oh iult lu'HrJ' t'h-
timed duncss in the markets, some large sales
of goods ut prices not satisfactory, and some
progress toward settlement of important con
tests between railroads and between employers
and workers, have been the features in the busi-
ness world during the past week. The New
York banks now hold over Si5O,OOO,OOO in
cash, for the first time in their history. Early
last year it was observed with equal surprise
hat they held for the first time over SlOO,OOO,-
600. But about this time last year, in the
depth of the panic, the banks held only @67,-
OOO. 600 in cash, and now they hold nearly
500, OOO, 900 in excess of legal requirements
In 1879, mt this date, their total reserve was
substantially the same in amount rs the surplus
now held In almost every year hitherto more
over, the accumulation Of idle money in New
York has increased from about this date until
July, and often largely.
Somewhat less confidence has been felt in the
monetary future, Notwithstanding real improve
mcnt i'm the condition of the Treasury. Exports
of about $SSO,OO0 specie during the week have
not caused any apprehension, and the vote favor
ing temporary suspension of silver coinage
in the Commercial Convention at Atlanta,
though not of real Importance, seemed to many
an encouraging SJUlplOius lpll AltAt iHtN '''h
some hope that the new Administration would
decide that the appropriation for the purchase
of silver bullion was not in IT'S nature a cOntIn-
uing one but required renewal for each year.
1t was reported that Mr. Jordan, the new Treas
urer, held this opinion. Nevertheless, the order
to purchase more silver was ISSUED last week,
which seemed To cut of one mode of speedy es-
cape from the perls involved by continued coin
age. If the Secretary should SIRE fit to obtain
legal advice on the question, it is possible that
he might find that the silver cnthusiasts,as they
Numbered in other things, Numbered also in
failing to make proper legal provision Tor the
purchase of bullion. 1t would then be IN the
mower of the President to veto any future bill
for that purpose. Meanwhile, the condition of
the Treasury really improves; $l,l7O,OOO sill
YER certificates were taken in, and $2,l7G,OOO
legal tenders the receipts of silver certificates
through the Ncw-York Custom House declined
to 50 per cent and, as evidence that the de-
sired end is drawing nearer the Treasury in
creased in amount of gold owned about
100000.
After hearing that the stock market had been
strong day after day, and that tremendous
efforts had been made to record higher prices, it
was hard to believe that the average of prices
mt the close on Saturday was only 30 cents per
share, or less than one-thrd of l per cent, above
the average on Saturday the 10th. While thir-
teen stocks advanced more than 81 per share,
including the three San Francisco stocks,
Pacific Mail, Erie preferred, and lacbawanna
from to 3 each, and Union Pacific, Western
Union, Jersey Central, Delaware and Hudson,
Manitoba, Ohio and Mississippi and Illinois
Central, there were nineteen which advanced
only n fraction, and ten not at al, while
eighteen out of sixty declined. New YORK
Central and Lake Shore advanced only Il each,
Northwest and the Northern Pacifcs not at all,
while Burlington and Quincy, Northwest pre-.
ferred, Erie, and Michigan Central were among
those that declined the latter 27s, and it was
peculiar that the very stocks which, like Louis
Vile and Nashville, were supposed to have es-
pecial reasons for advancing, closed lower than
the week before. Mr.. GOuld's efforts to secure
a settlement of trunk line difficulties appear to
have made real progress toward success, but
the result turns, as it has done all along, on the
willingness of Mr.. Vanderbilt to make peace
while West Shore affairs remain unsettled.
The reduction in West-bound rates by the
Pennsylvania on Saturday seems to indicate