New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1889-01-02
THE YEAR IN FINANCE.
CLOSING WITH FEW REGRETS.
FRIGHT AND ENCOURAGING PROMISES FOR
THE PRESENT YEAR.
Tuesday, Jan.

TIE PRESENT YEAR
Tuesday, Jan. /.
Tho vear Of 1888 was one in which the business
., .,oe,o ~ the cauntry assumed unusually large
proportions. but with results that were lar from
satisfactory to those engaged IN conlnelcial ana
manufacturing pursuits How much OF the I'M
o+isro,. orv results was due to n sentiment it is
no, no,v nroftable 10 discuss. That 1T was year
in which the misrnana cement of the great inter
.o,o .~+e,ies for the movement Of freight and
Messengers played an important part III making the
vear an improbable one is now reaIzcu ana ad-
,oit,od nv all persons whose expressions are not
Influenced by an interest in speculative trans
actions. H. does not follow, however, tnat the
country as a whole has made its usual adultion to
the National wealth The products Of the mines
and Of the soil have been bountifnl. ~ was
wear. however for low prices, so that inc hDorerS
dollar possessed more than the ordinary purchasing
power Notwithstanding that the exports OF GOA
for the year exceeded the imports py ABOUT
s2O,OOO.OOO, the general circulation oil legal
tender moncr was increased about sGe,ooo,ooo. of
which SOB. 600, 600 was by the years silver com
zoe. 81 600 GEO by the product of our gold mines
in excess Of exports. and s22,OOO,OC0 by re-
duotion in the amount of cash held in the treasury
wants. The law requiring the purchase monthly
If 81 600 900 worth of silver bullion and It's COIN
are into about 50 500 OUo is still in existence with
no prospect OF its amendment, unless IL ne 10 i'll,
crease the monthly minimum The anthracte co oa
trade, despite the low 1iic's whcn nav lon,i IoI
iron and iron products, has enjoyed an eAccPuohdi
wear of prosperity. which rejects the grown vi
domestic consumption. The old year however,
has passed away with few regrets because tne
promises of the new year, like Its hfSt any, arc
bright and encouraging.
THE CITYS FOREIGN COMMERCE.
The commerce Of the port Of New-lork gives
a total of imports and exports OF merchandIs;
which is Sl90OD,000 smaller thah ING to'al
of 1887 and 81 100000 greater than mat OF
1886 The imports of dry-gocds Tor the !aSt
rear were 81, 100000 greater than III 1881 but
Of general mxchandse they were so,oVO'o Oo
smaller so that the total imports ut the port were
$4,000 OO smi Her in 1888 than IN 1851 Inc
exports OF merchandise declined sl4. wv from
these Of 1887. so that the excess oil mefcn'hulSc
imports was yearly sl0,000000 greater than IN
1887. and S49,500,O00 greater than IN 1856.
The gold aud silver movement. however, gave
an excess or exports OF S3s, 200, OOO last year
against an excess of imports OF SEl1fV o IN
1891 making n difference of $50, 600 600, so that
the net excess OF imports for 1888 was s9OOOO,OOO
lcsS than the excess OF 1887. buI sEV'VVo'VoV
greater then the excess of 1886. The following
shows ths totals Of the various movements at
Ncw-Yorl, for three years:
MERCHANDISE
E%e & @4:
Total imports s4s4 2ci ss6 s48i g941o9 800 57k4S9
Exports Of mise 3l9VSo,7C9 9ll,I-oII- Zyo.oDo, 80
me GA $40 122as1 e75744s1C3
Exec o., sl14 2i911s 5sse5o37 i1e37o5'7l5
GOLD ARD SILVER
h29 S 1secs2i5 SSoSoS lSs2&7SO
7 o,a movements $50 4oa.a74, e5oss215a s5a,21o1so
! zce.s Of exports. ss7lsO5c ;,-;oso 'Sii
OF "''-----'''-
NET BALANCES.
xccss Of imports so5 5o5 O02 sl753S797e s12547H3@
BANKS AND MONEY.
The conditions in tho Ncw-Yors Associated
Bani,s shown hy heir statement at the close oil
the last tNo years were aS follows:
;o.o........ s- t So ti33 io Inc a. 7oo
Il ;c z 5 2:9c a9 95sA 7o} l I@s a5's3;SSS
e% 80 sss SO b Hs 1875 s5SSS
Ratio II total reserve total deposits;
'Sss sSS Inc
Total @ 100 los eco eco T TDe f2$s2 goo
sn,,,,u. - 300 80 se,2Sl.85 Dec. s2s77,soo
For the first time in the history of New-fo?k
hank, the deposits last year reached the sum o.
800 000. eco That was accomplished in the
,-.eIl ending June 10, and since That time they
never have been less than S4OO.OOO,OOO, having
touched 4ls,oOO,oO0 by the statement OF July
H. at which time the amount OF cash held stool
N s13e COO 600. the loans at 379,oO0,OO0, ana
The surplus reserve at S27, ia 400.
The money markets of both the city and the
country have ruled extremely easy, and NJ un-
usually low rates. considering the volume OF
business during the whole year. 1t was only
during the last week OF thc year that cal loans
in Ncw-TorS averaged as high as per cent,
with extreme rates as high "a per cent
PHENOMENAL RAILROAD EARNINGS
We print below four tables Of railway gross
earnings. The figures are eloquent eomm il,ia,'
on the pcssimistc cry Of no trahic,' whlch
has been dinncd into tnc conntrys ears IRON
the BEGINNING to the end OF the year ltoS. y
has been year OF wIangling between manager,
from one end Of the country to the other, amy
n year Of extremely low rates. the tables arc
divided by those showing gains and losses. i''
FIST two tables include ali the companies Wnlch
have reported fer the third week in December,
and therefore cover ali bit one week oil pnc
year They include fory-threc companies
twenty-scven of which show gains of 81 ,'oo, OOo
and nineteen losses of S!,JuO,OoO giving II hrt
aain for the whole of SO 7SS,95O or D. 81 per cent
against an increased mileage Of .'gi or ~
per can't The other two tables, beng divided
like the ofhers inciudc all the roads which hfNe
tcpor.ed to "A. late - November 30, Cs 20 tlt
second week in December: ont they are made
up viz, the earnings only TO November 80, or
for eleven months. 1hirty-seven Of the total
sixty-thrce companies returned gain, aggtegai-
inc Sg001, 722, and tWenty-sN com James Tetufll'
losses aggr"gatng SI04S, 0l2 The net result
OF the whole siAty-threc companies IS gam
OF Sl,9jSSlo, or 1.71 per cent, on an increase"
milPaG" OF 100 per cont ! ~ "h""'it' wv"
selves furnish their own best comments, and
more than justify any seeming harshness toward
railway announcements that may have been in
duged in here during the last twelve months
Ihc detailed cor. isons are rs follows:
ELEVEN MONTHS AND THREE WEEKS
ian. / to Dec. IL
~--l Ses.---
Names. Mues IalnGg~ MICS i'illiss
Atlantic s. Pacific. SD s2.5sJ,54D so T-'e'- y Z
Canadian dclnc... 14cl I1.251O,2 S,poD lz'eb- i"V
Crt - T.. Iniucis .O-1,31t %rJ -'iVi'dvy
Che s. Ind. Coat. .5j f-o,J.@ 80 o--Vyo
c. & II. v 4. 80 2py1Vtv o-2 80 80 20 81
IL ~. N l I..Lto