New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1890-08-18

nnnts of nancy On account of the expanding con-
ditons OF all kinds Of Grade IN th!s country, s"
TO local manpuiatOrs an opportunity To " oIN V
money market in the interest of temporary
depression in values for securities iRspltc VAC
exports OF gold for Twelve months tlc esa nGlI1 t
in circulation in this country now - "'
S4O OOO, 900 greater than IL was q year aso' .lo
brIeny ant succinctiy we nave ucla.ru Cio
combination Of circumstances WIlcn reCentlH NJ
Controlled the local money market. Now, whai
of the future? First II IS eVl'ell that tnc peIiO'
has conc when the importation oI ioipsn nnrn
chandise will show declines III alnoul' d. -
pared with that OF the coI.TsPonuIns Pei,ich
of last year, proportiOnac win thc ihcIe"Ss me-
the last ten weeks nave IuiIilSnvu t,,,ad only
port the impOrtatiOns for last weck aiounteu OiS
Ia S55o6sl2 AGAINST 81 ,60O,O12 for the sanc
week OF 1889. Tie period IS iast appIo"cnnlss
also when the foreign buyers OF our COTTON mus
accent the views of American hOldciS OF tie NinoI
lean holders must sell at the foreigners pIlccs.
The cotton crop promises 10 DE uhusu"A 80,
hn.iia hetIrecn foreign buyers and American hold
crs must be quickly determined: IN cl'I'ei ,n
the outgO of cotton must DC SIIIlolc',u ~ .r
all delayed shipments Inc treasury Ha9 I", ~
tho nnrchase OF silver bullion uhder the law oo VI
July IL. requiring the purchase 81 4oUG ior
ounces per month. The Secretary h1Nlhs "u.o I.
,isnd tIot he swould receive proposals on every
Monday Wednesday and frlday, oesinhlns VIZ
Wednesday August u, 1t should nave ptvn IoI,
elusive evidence that his policy was 10 puIcn ,
on each day only about onethlIltchth VI rI tn
months requirements. SUBJECT oil course - MAJ Ii
conditions and the offerings mace lhIs PTnoS
WAS well understood among the h"iueis Vi 81 -
and therefore there no occasion lof SuI Va
disappointment that the offerings on NcuI,tS""S
amounted to only about l,OOOOOo ouhcts "1 b ~
Friday to something over 'ooOo" ouh.oI' VI 't.
tba nff,rckoses of the two days amounted 10 ohN
~, 900 ounces, requiring an issue Oh new inpn,H
10 the amount OF about 500, wv. DS AZ III, hv
lions of the present law. II not lh'eTeTeu Tto dnr
sneculators the daily inCfcase III the lega-teh"cI
money of this country Is ABOUT 90 n,"' 900 nor
So 90, 900 per month"; OF over SoV,ooG,UV,% ofrc
Srnum This is new money which, the DAY pci"Ic
lis issue was meIchandlse purchased anu sGn ~,
So much per ounce 1t requires no approp. ion
in
for it, because the purchase creates NV fmr
mept promise 10 pay, stamped a legal ,enueI ion
all debts public and private Manpnla'Tia ., Cor r.,
money market upon exceptional causes nt lrut.Vr
have 70 face the steady and continuous cApl'sion
Vi Vesterdny's bank statement simply by its own
6rures suggests the Withdrawal ana locAilE Tp
II moncv The City Bank reports loss III
specie of 81 500 900, while its loans WeiS 10
only $780, and loss IN deposits i Tr and
The American Exchange and the importers ti i'm"
traders each lost S7000G0 specie, ana lIr li'li
over $3.50 600 The Commerce ana IarK earn
gained 100000 and thc t91T,4 aoo
The Chemical lost $4,000 legal-'ehGe,s ann anu
81 90 900 specie its loans were reduced $500 o
and It's deposits $1,000, 600. INC G,nI tr fbc
making np the total differences shown ~ tnc
General statement in amounts less 'n'"
$500 900 either SIDE. 49,, ,,.ool
The Government bond purchases Tor the Wceh
amounted 10 5000 400, the payments Tor Win
are nearly all reflected III the NfW-iol ~ III.
Treasury statement made up 10 FRIDAY mn.
but the general Masnin2nt &G onn Behind in its
record Yesterdays rumOr that new dePLr-
ure by the Treasury was TO he mace III poni pm ,
chasing seems 10 have had no better FOUNDATION
than the fact that the Assistant SECRETARY oI t.S
Treasury Yesterday had a long conference VIZ VIZ
President Harrison upon some suoj''' "H'',
may or may not have related ~ the nlanh'i y,
distributing the surplus III the lIcasuIA. ~,
nresent the Treasury is n competitor ior tIe
purchase of but 4 and l-2 per cent pohds. II
we might be permitted 10 make a sn2grstiH}t' We
rvouId saw that either the pohcN SL4nIu ~
adopted Of purchasing nothing but me - PI
cents-the price is OF secondary cohs'"'I 'u'"n
and that the Treasury should withdraw from uc
rve the National banks who nave OH
9epost with the Treasury $3s,9l 800 ! y per
cents 10 secure circulation, ana 50 :t'IVu -
ner CENTS 10 secure dcposits-tOtal. $50, o. 'o-
an opportunity TO buy in the open marker VII"
| 4 per cents to substitute for their deposits 90
4 10 per cents: or, If IL Is believed mat III"
| CONCENTRATIONS together with the offerings OF /
neT cents will eat up all the surplus during INC
next twelve months so that the onte'ahul.S
81 90 900 900 in round figures OF - per centS
rviIl have IA be refunded, the purchases should
| be exclusively confined TO the per cents al any
| rate which returns 10 the Government PioI'o
upon the anticipated payneh'I cc "n% nol; .,,
! mess community needs is a dehneu poIqy' oc
sbiIfinr one best suits the interests OF the spec
| ulatOrs. A., IL. nov. ~,
! Ella Wool, we're sadly dcmoralizcI 10y the cur
/ rent high rates for nancy, and the dcclhc on
! Monday was sharp and at the 10" n9nrS =
I 1prs
/ Tho easier rates which prevailed after TUESDAY
! tbcrc was rcnct'on which, however. was t""
| violent 90 mantair itself for tie business "l
Saturdays mail The exceptional causes Wilt! !,
] have made il possible 70 export SN,'vu.""" EoI't
B al this season Of the year having cNPrI''"
themselves. and the like export OF any 9'"cf
article having furnished that amount "i y
change were bound to have their lcgillula'" eIct'
/ without the high rates for money, ana NAV pi"p-
ably. YVES seen in the closing lgurcs iur Sat"id"N
mail, which were on basis Of - E." J.; 1ai
;,-o1 ff.ri .,ut
IA that is the prospective large export oi Amer
lean crops which is likely to exceed IN value
the movements of several preceding years
RAILROAD EARNINGS.
The Chronicles" compilation Of TIE gross earn
| inps of railroads ion tie month Of July embraces
/ The rrtnrns of l5S companies Corrected by the
addition Of later returns the statemcnt shows INC
gross earnings for the last month 10 nav pen pen
S3s5q43S2. against S3j,A20,G2s for July, I7'"
"a gain Of S3,l7%,7j4. or 50 per cent. Oh an IN
creased mileage of only p per cent ana ms
increase Is made upon month Whca sH""'" "a "a
gain Of SO per cent on the month Of l17'' vi
fLc totol number Of companies reported, l3l show
gains averaging y per cent, ana oluy - com
nanie, report losses and the average IS 30 per cent
The t,~l1wing table divides the aggregates ana
ditTernccs "A the companies showing gains ami
losses.
M Ne of J5y s 1 si5s ss S7s5 M 49, s'577 T.,
9 mpanies G075 10 67-s'6i7 Dec. 2i6od g.,
Total 15s co. .ss5 42oc2s tss,69ia.2 Inc. sa73 81 81
The Tribune has printed the gross carnlnes
for the first week in August OF 81 companies "i
systems giving an aggregate Of SOL, against
S5.GGl,78l for the week OF s39-a gain Of S453-
10. or per cent. OF the total number ~ com
panicS showing gains give an average increase oil
iii per cent, and - showing loses an average
decline Of G1 per cent. The following table dl-
vidcs the aggregates and differences Of the com
panies showing gains and losses
1st week IN aug ~" 90, ~ 1{ ,ao XIV OK
| 13 conf anies... lOi5 27G 0sl 81 De-. Ga,'21 .
Total 81 co. & 1851 .7sl sO,lliS2l Inc rid&nO -
TIE WEEK IN TIE STOCK MARKET
The strike on the New-NOrk Central and {
so-called stringent money market when per
hans affected Onc-tenth Of / per cent OF brokers
loans together with the continued cry OF NJ
crops and consequently no late business lo
| liz rnil NNns The ncrasiOn OF cNtrcnIp De