New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1890-10-23

MONEY MATTERS.
Wednesday, Oct. ~

And still they harp on Treasury accumuations
mot only the bears but the ignorance of
some who pretend to be bulls The worst
enemy to every house is the fool that is in H.
It is high time that every one understood, and
probably all but Il Is do understand, that the
Treasury's monthly settlement of assets and la-
bties gives the total amount Of Government
deposits in National banks, while, on the other
side among the liabilities are credits to discussing
officers, part Of which are the credits in Ma.
tional banks 1t is known to all except fools
that the Treasury's daily statement Of deposits
in National banks i, the gross amount Of such
deposits less the amount that has been placed
TO the credit Of discussing officers. Therefore
when one writes, because the daily" statement
now shows less than S24,0OO,OOO deposits,
against "S30,30o ,o00,' as per the monthly state
ment of September 80, that practically $4,000
900 has been taken out of the banks and locked
up in the Treasury vaults in the past three
weeks" there is exhibited ii pitiful ignorance or
an immense amount of wickedneSs. We lave no
doubt that it all is a piece OF gross stupidity
attempting to appear wise under : double leads
The Treasury does not withdraw money from
the National banks and put it into Treasury
vaults Every voluntary surrender Of deposits
by the banks or forced surrender has resulted i'll
taking ont of Treasury vaults the difference be,
the bonds held by the Treasury for security OF such
deposits. The Treasury uses it's deposits in Ma
tional banks exactly the same as does every ner-
chant Internal revenue collectors make the de-
posts, and the Treasury draws upon them IN pay
ment only Of its bills. In the one case The de.
post of an individual Is transferred to the credit
of the Government and in the other the Govern
ment deposit is reduced to add to the credit of the
individual. II is n purely business operation, and
one that is fully comprehended except by the wise
per cent bond SYNDICATE should employ intelligence
to aid them in forcing the Treasury into further
purchases of per cents, particularly az tlne
when all the Treasurys surplus, except Sl?,0oo,-
600, is in actual circulation now and the GER
tainty that the enlarged appropriations and the
estimated reduction OF revenue point TO deheii
instead of surplus The m0ne S market rs so al
600 which is still locked up and withheld from
circulation will make money drug: Don't any
one forget that for large part of the first days
payments for the last purchase OF per cents the
ub-1reasury cashiers checks were cashed at the
teller's desk, and that gold certificates were
carried away that never yet have appeared in any
original lookup, made partly 10 force the Sec
rotary into buying the per cents, ana partly for
effect On the money market for stock-JoDoihg pr-
poses - .-
WHAT WAS DONE IN STOCKS.
II is hardly orr night to write about the stock
market We quoted Mondays closing as iirm at
the figures despite that days desperate rald on
values, through the employment Of supposed Lon
Of New-Yorl; professionals. Yesterday we char
lcterized the silly attack on Rock Island secnri-
ties as q waste Of ammunition. io-days marie.
has been SO i'm accord with these characterza1lons
hat there is little left for us to say beyond that
tresome remark: We told you 80.
Yet to-day's market, witt all its DEVELOPED |
strength, lau its ups ar" downs. 1t was irreg-
llar and fluctuatins from the start TO the finish
| here was Il continuous realizing OF tile prohts
IF late purchases. and an cvei readiness TO attGrF
values wherever and whenever the opportunity |
offered Still tie tone and temper OF the market |
exhibited q tendency toward appreciation that has
not been seen in the last four weeks. The business
lone was not large-217,7s3 shares In the general
ma ket-bIt there was more than usual full at
tendance Of clients In brokers' Offices seeking for
Job lots. The tendency toward higher range OF
values was contested at every 1-s per cent. which
s not a positive proof that the short interest
s practically eliminated" IL probably in the
Chicago Gas sold cx dividend Of per cent
payable October 20 10 stockholders OF record
o-day. 1t was the one stock that TODAY de.
fined. From ~ 3.sal4 5-s II declined TO 43 81
.43 IS. As we are advised, the company ~
'arning over per cent per annum on It's capital
took" water and all-but because of the legal
complications which ore instituted principally
or effect on the November election OF Chicago
,fcials, il, per cent stock. finds little support
Il a. at which figures the stakeholder is realiz-
ne in dividends neatly 10 per cent on the in
.estplent. II is stated that Chicago is coming
cast for aid toward its Worlds Fair. The man.
,er In which the city officials and the pctty courts
4 Chicago have treated Eastern investments
n Chicaqo's great necessity-the supply Of gas
) not likely 10 aid the Fair committee in its
II