New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1886-09-06
greater part of s15,Ooo.Ooo o

the greater part of $15,OOO.OO0 on
Treasury checks and drafts outstanding, gold
has been demanded on 80 small part OF thesc
payments that last week the Treasury gained
81 900. 600 In gold and 100000 In legal
tenders, while losing 100000 in silver. Tho
arrival Of gold from Europe has evidently had
an important influence, seconded as IL has pecn
by the announcement of other shipments whioh
continued on Saturday last. These show that,
in spite OF the premium demanded for gold at
Paris and Berlin. and in spite OF the advance
Of rates by the Bank Of England some gold sui
comes this way, partly because trade IS exceed
ingly inactive in Great Britain, but also be-
cause speculation and investment in American
securities have again attracted foreign capital.
The stock market was strong Oh the whoic
last week. and closed at an average OF sos 81
per share for sixty active stocks against 800 90
August 7, the highest point yet reached THIS
year, and $51 So at the same date last year.
Considering the constantly reported improve
ment in earnings, it can hardly he sad that
the advance Of SO per cent in prices has pecn
unwarranted, provided the managers Will dothe'r
best to make the lines profitable to owners.
The grain market was also comparatively steady
wheat changing scarcely at all for the week.
with corn little lower and oats little higher.
Cotton declined shade, but lard, hogs, coffee
md sugar all slightly advanced. vi yielded
134 cents, and copper shade, but tnrpcntne
advanced half cent, coal 5 cents, tin 10 cents
and silver full cent per ounce. Though THIS
latter advance is not entirely explained, 1t so
comedies with increased use of tho metal here
that It is apt to be supposed result. During
the past month the Treasury has succeeded In
putting into circulation 81, 454 ,467 in standard
dollars, besides $1,457716 in silver certificates,
and, as the figures above given show, there has
not been much increase in receipts through the
Custom House,
Tho confidence in bond calls, as means OF
checking monetary stringency, seems TO nave
abated at the Treasury Department, for the
offer to pay par and accrued interest for any
part Of $1O,OOO,OOO of the three per cents not
called, which was made last Monday, was clearly
designed to reach the bonds not held by the
banks which wished to retain circulation
Under this offer about half million three per
cents hare been surrendered in five days, and
this process really takes money out Of the
Treasury whereas a redemption OF bonds held
as security for bank notes only transfers money
from one account in the Treasury to another
In all, 100000 Of the three per cents were
surrendered by the banks last week, and
100000 of the four per cents and 100000
of the four and half per cents were deposited
There are still $40, 100000 of the three per
cents not held by the banks, part of which may
be voluntarily surrendered, but the receipts of
vold from Europe have thus far been much moro
important. If foreign confidence in American
securities can be maintained for few months
it will lift the country over a point Of consider
able difficulty. .