New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1890-11-03
THE MONETARY SITUATION.

Notwithstanding the continuous expansion Vi
legal money in this country as is SHOWN dDoNc
that the amount in circulation now Is nearly Cioi
600 600 greater than it was year ago; thal uiiuc
tho new Silver law il must continue 10 eApdnu az
the rate OF over 700, 600 per month, ana Una'
nothing but exports of gold or treasury apsoi p
lions will temporarily retard it, and OF neither oi
which is there any immediate prospect, the locai
money market is poorly supplied wlth iuius, tH,
cent Tor call loans. IL would seem unaccouHtaT,e
that such should tc the condition unless the IiAii'
which was inaueurated some SIN weeks ago ny
the artificial withdrawal OF money from ioc.h
circulation had induced other holdings Whlch III
the aggregate amount to large sum me -. o.''iH
statements Of the last two weeks indlca'e "
retlrn of probably about Sy,00o,OoO from tie
"lock-up" We take it that this sum is aooue
half Of the amount which was locked up ioi 81
purpose Those, if any there are, VINO n0dluIu
money simply from fear IF financial troubles, ~, 10
not yet seem to have recovered confidence. nc
amount of new lcgal-tenders which nave o yen
issued under the Silver act of 1880 Is Sl5,9o oVo
that is ali new money added TO the general CIT
cuation since August -. And additional %; 10
that the Treasury in the same time reduced It's
net cash in vaults over S50,0OO,0OO. The com
mon rate for call loans last week was per cent
at the bank while brokers' balances ranged from
8 to 3 per cent, returnable the next day. ana Oh
Friday the rate ranged between ana 80 per
cent. with final closing at per cent. 1t was
not unreasonable that Fridays money market
should have been unusually active, because IL
the last loan day OF e We there sn% Wa sg mnc
calling in of loans preparatory TO the payment OF
November interest and dividends, which would
have hardened rates no matter what mad been
the ruling rates of the week. Starting from a
rate as high per cent the manipulation Tor
extraordinary rates was more easily ehected thai,
il would have been had the ruling rate been 3
al per cent 1t must be remembered that May
and November, next to January and July, are
the largest interest and dividend months Of the
The situation at the financial centres OF Europe
was nractically without change during the week
The open market rates for money ruled only
slightly lower than the banks rates, but there
fdent tone The Bank Of England lost 81 SIS 600
bullion during the week but as its shipments TO
the interior of Great Britain amounted to G2l D.
900 its gain as TO the foreign balance G6l 900
The proportion of its TO its liabilities was
slightly increased TO $3.50 per cent. The foreign
exchanges were very quiet all the week. and bust
ness was done only at concessions. The market
closed weak on the basis Of S4 so ga and 81 81 "a
respectively for long and short sterling. AT the
same date last wear the rates were 81 so ga and
81 So respectively.
RAILROAD EARNINGS.
The later returns OF railroad earnings for the
third week in October make a better showing than
did the early ones which were tabulated a week
ago: SO that seventy-one companies systems
give an aggregate gain of S20l70l, or 30 per cent
on the week OF last year. which then showed gain
on the week Of 1883 OF 12.24 per cent. OF the
total number fifty-four companies return gains
averaging o. per cent and seventeen return losses
averaging 81 per cent.
The subiOned taDe dlVlues tdle aggregates ana
differences Of companies showing gains and losses
Third week in Oct 1880 1890 Differences. pc.
81 cor panies 0o2 sS3 81 1871 S5S Inc. sass 970 9
II companies 49,. f75 34l,2O6 Dec 1929 81
Total II coss7 03l 3j6 81 1888 o59 Inc. s2ol. 70l GO
THE WEEK AT THE STOCK EXCHANGE.
The speculation at the Stock Exchange last
week was about of the same character which sew
eral preceding weeks have witnessed. But gen
orally values displayed hardening tendency.
They were less vulnerable than heretofore 10 the
assaults which were made upon them, and The
final changes for the week were small in either
direction, except in one OF two instances The
local influences, however, SO far as they were re-
fected by more bearish talk than ever has pre-