New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1889-09-02
THE MONEY MARKET.
NO CA USE FOR STRINGENCY.
A DECEPTIVE TREASURY STATEMENT-NOT
REFLECTIVE OF PAYMENTS FOR THE
WEEKS ROND PURCHASES
, BOND PURCHASES.

Sunday, Sept Up. m
The United States Treasurer last week received
from customs 81, 700446 and from internal rev.
cnne s2.5sC.776 total from both s7,2s722?,
against SOL 0, 056 for the preceding week. Yes
terdays Treasury statement reflects only small
part of last weeks disbursements fer purchased
bonds And yet it shows a reduction III the neb
cash in vaults Of s2,3S5,S5S and reduction In
the amount OF deposits in National banks OF
$3.50 $685. making total reduction in the net cash
of S3,075, 753, which counts nearly all or Isst
weeks bond purchases cash IN the treasury
After the purchased bonds have passed through the
various processes Of cancellation and credits Tor
the same have been made to the various Sub
Treasures which have paid for the bonds, the
loss in cash would exceed sl5,G00,0 600. By
reduction in the amount of liabilities for sur
rendered National bank notes the weekly state
ment shows decline in the available surplus oil
s2,457,e2s But, as stated before there is some
thing like 81 900, 900 purchased bonds which are
counted as cash in the Treasury balance pending
examination and cancellation. So that the actual
reduction of cash in the Treasury is something
like Sl5,000000 for the week The changes IN
the vault balances as reported by the STATE
ment without the bond purchases being written
up were made as follows: gain OF s9l3,9E9
gold by an accumulation OF Sl,o75,560 bullion,
less an issue of S50l, $40 certificates The gam
in legal-tender notes was small. amounting only
to S6,679,000 made up by a gain OF slV66'9
notes less an issue Of 81 90 900 certificates. Inc
loss in silver, which reflects gold or greenoack
deposits at the Newly ork Sub-1reaslry Tor eN-
change upon Western and Southern cities, amounts
TO 81, 800 672, made up by an issue of certificates
Of S2,S22, 54l, less gain in bullion OF sl2,So9.
Allowing for the usual weekly silver coinage of
4I.o 4 a1nS nylip
not include the large payment for bond pur-
chases, shows an addition to the general legal
money circulation of over So, 100000. The liza
bilities for the redemption of surrendered Ma
tional bank notes were decreased 56i1925.
subolned the results OF yesterdays sntemsnt COM
pared with those OF the statement Of August "a
Aug "a, 1859. Aug. 81. 1889 Differences.
Gold coin and bu.,
coo feseTvc.' $50 si4 $50 1925 $40 Inc. $4,000
so Dee o5
1Gcates ..,' 2so97eJO 2e,Issrs4 Dec. 2sOoo72
Cash in Tressy s15 800 8s 1852 92s ss5s5s
D' tonsi banks 4s1eou9 a247o 5a Dec os9s95
Total balance SOS AS 0e7 s1s5 lo2 9s4 Dec SO
Deduct for funds
Ssd e. e redeem DStss
per cent fund. sossIGo2 sc.sls7e7 Dec. ol7e25
aace 546 995 s115 $50 1G7 Dec SO 457 s2s
BANK CONDITIONS COMPARED
BY the operations of the New-York Sub-Trcas-
ury in the week ended last Friday evening, which
included the receipt of SO, 234 900 for exchange
on other cities and the payment of Sl4 673 6SS for
purchased bonds, the New-Yorll banks gained
81 ,450,562. The payment for bonds was prnci.
pally made ON Thursday and Friday so that the
sum of $40 100000 Of the gain from that source
counts in yesterdays bank statement OF averages
for only about 50. 100000. Yesterdays bank
statement of averages reports a gain of only
81 ,j90,50 cash. Following estimate Of -
week ago, that the banks then held 81, $4,000
more cash than the sum of averages Of that week.
yesterdays statement indicates that Treasury alb
SorptiOn and the interior movement till Thursday
gave an average against the bank OF about
50, 900, 900 cash. and that the actual cash hold
Friday were over 100000 more than
the average for the week. A contraction of
S6,247 600 average in loans is partly due to pay
ment Of loans in Government bonds which have
been sold to the Treasury. The reported decline
III depOSitS-S3, 1874 700-iS 81 300, 900 sma Her de-
cline than the other changes call for. The state
nent results in gain TO the surplus reserve of
S2,43S975, and leaves it at S4,504, $40, against
SIG, 766,625 September !, 1888, S5,212,625 Sep
TENDER 3 1887, and S6,020,425 September 4,
preceding years were as follows: lSSS-loans in
crease S2,9S3,9o0, cash decrease 81, 344 600, de-
posits decrease S43l 200, and surplus" reserve
decrease "a 500: 18s7-]ounS decrease $780,
1 90; cash decrease $4,000, deposits decrease
s., 035. 600, and surplus" reserve decrease S346
crease sS4 1000, deposits decrease s3441 l00 and
surplus reserve increase Sl3,275
The statement compares with those OF corresponding
dates Of 1887 and 1885 as follows: