New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1890-01-20

I
week the Of the preceding two years compare
rs O''O"' Jan a. 1858. Jan. 49, 1889 Jan; IS 1890
Eschsaee: dS SS s'2sS 3$S
THE MONETARY SITUATION.
| The movements in money at the Stock IN
| gravitated toward easement ana lower rates.
| This has not been because of any extraordinary
return of money from Eastern p prov s great
| interior of the country. AS we SAID week ago.
| the return of money which was wlthdrawn from
| general circulation last November was an iii-
| nortant factor but additional TO that were the
| free sales Of Government bonds to the treasury
| after the passing of tax days, when were eh-
| clusivey predicted ia this column. III was onH
toward the latter part OF the week thsI nhoiclai
1 institutions voluntarily marked tne Ia'Gs upV "a
| their standing call loans from per cent uo"H ~
| per cent. OF course the ShylockS OF No'enpel
| and December who were engaged then III
| manipulation Of the money market ana ueih I
ing cXorbiant rates, were not parties 10 e Iii
| movement The rates were reduced despite tneir
| continued efforts TO command the pound OF nesh
| stipulated in the contract. Inc lact lhaV UhJ
three or four National banks T,ii
| inc November and December were Joihed
| in the conspiracy were compelled 10 loan tIleh
| money at lower than the average dalIy rave ""s
| NOT dne 70 their generosity but TO the abundant
| supply outside of their millions. IL Is prooapc
| that from this date till toward April the move
mcnt of currency Will DE largely III l3No, ol tnas
| city IL also is probable that If TIE treasury
continues to purchase bonds at its present prices
| thcv will continue to flow into IT, even more lib
orally than they did last week, when the purchases
| exceeded so 1000, very small part OF when
| was sales by depository banks
! How absurd it. is to read that the Secretary OF
the Treasury will Immediately call upon the small
| number of banks who never have made any re-.
Spouse 10 the notice Of call Tor 10 per cent OF
| the deposits on January ;. The plain and simple
| way for the Secretary Of the Treasury to reduce
| IFS dcposifs in any bank is by drawing check
| upon il payable to any Sub-lrcaSury or for me
| disbursements for any account with the monthly
| expansion of nearly - .O0o,OOO by silver coinage
| under the compulsory law and permanent apprO-
| pration for the pure base of S2,0OOOOO worth OF
silver each month, it is simply IDLE to question
the capacity of the money circulation OF tins coun-
| try be ing equal to all It's possible requirements.
| The only Offset TO this monthly expansion is the
| possibility Of an expectation of gold. That, Tor
| The time being is entirely removed from the cal
| uations The Bank of England for three weeks
| has been attempting To prepare itself for meeting
| an American demand for ITS gold. Its rate OF
| discount was advanced 10 i per cent, and still re
| mains there for the purpose OF drawing gold from
the Continents We have reason 10 believe
| that during the coming week the Bank OF England
will make unusually large gains Of gold by snip
| mcuts from France. The Bank of France at the
| latest return held nearly Slj.o0o.0oo more gold
| than it did year ago. nearly all OF when Is me
| accumulation from American visitors to It's last
| summers Worlds Exposition. The exports of the
principal products Of America Ia last December,
which are given above indicate an almost linlne-
diat' easement in the foreign eNchan-rs down 10
the spccc-im importing point - soon rs the BANK OIL
| ENGLAND by It's high rate for interest can draw
| the necessary supply from the Continent. win
| tie easement of money here during last "cek
hnN'N'i, ''' -. ',,., = L',.,n oss Gr,iit
rl",rd ON a basis Of - = Il and 81 SO Is
spcctvcly for long and short sterling.
RAILROAD EARNINGS
The reports of railroad earnings for the new
vcnr are like what they were for the closing
months of 1883 The Tribune has printed the re
Turns " siNty cGmpaaic, or systems for tie first
week IN January, ",HIh VI NE 1--rr-,'' CIV
ri. ,, ,,r,,,ics of H.. hole number rcporfed
unN ,'n ',.. F'r tbc ..rond Week in Jtnnary
i'''ih I',>'s 81 -. 81 ,,,,,,t,. G,c conn,
we l.' F',.,. ,,,ir., an ,gyreo-,te ,,ain on
49, - $50 nt S,,tgtb or I37 only
Wv. ',.',.,ic. of fine total number have returned
W H. f.ff.,.irr t.ll.s Ii,ide Tia. q, .,,,r,r,t.S
."H'' '' '' - ...,.. ....... -.....
'NP ""'''''''' VI go
."' ,., ,.ao D.,.,c,,.. ,
l-' ''." ID Jan $50 - .-, 31- loc ,t - T.
" -i4 =-- s,l Oi6 d.. 9e.7i2 ia
-.-....... 81. .,..,...,,... ...,. 49,. q.
I,'.'. go o' IA, '''''' 80 ''''
, 81 "- 10 jan 50 4aa .el.- aio In- .aas $50 - :.
-.--- --......... ...-.,.- 81,
TNt1l. - co@..f-"'V0'7 f--'' $50 lh' f-''''' 100
THE WEEK Is TIE STOCK MARKET
D.,..t, - ,ic stool FNclauyc ia. demand
, i,.l. ,,.. .. l.r., n NOT lal.cr than
"' ~ ,I ST. T>rb1u. tI,r, also va, "A
J,'.,d which wa, sufficient ~ mark some ma
~ '.' l,'," ,n tn. nri.cs of lrsdIu. "a, well
. ,c,,,l,ti,,. issue. IN tie stock department,
~ ~ ,.,..i..,,i,.',t f.,,ur, ,,.,, that of
''"' '''' 'i -. I, IL .., ,lJ story but
l''I'S' ""' 80 H., ttu. p
I''. .a T. 49,, l,.. u.s. ,ri-ir A.,
Si''' '' "' ,,, H., v,rlI .,, yicyys
l''H "'' H., ,t ,,.,.,,.', f,.,,,. ,v,rr
u We ,''ir "'I', .''' ' ~ l,,I .,.i..
I''IIn ne ,",.,.', 'li''., 80 ,, .f,r,.
'-eI'-'''u "ilN ''','.- '' ~ l.r ~. .,..,,l,.
'N' WIZ - ~ HI. .i,.i.i, and pc,.liI. and
~ il'. '.l,.y'.,,'t, XIII western because
,,l.' 80 - ,.,,.f. uu1uDc of unreasonable weather
pau ''i w. ,t ''.,,..,. ,i,s,un,iutiuruf suffered
''' '', ,t p..... r,,,,.i c,rtr. blt.d more
~ I,r ,, ,,,,,.'r,,..,, :, t'r week IS dc, lines
U.''' ,'' ,,.,',.r I.,I tI. wee, with los,
$500, r ,, In, I.i,v...rr Iarhawauua
w., t, ,,,,' III .,.,y. , lo.s ,f g. u.r cent The
lst-r1fnrd company durluI this week VIII pr'p
h.. . .,,.,t Il. H.. ...u..i,. t,,,..f ~ t.c ucYpc
prove I" DE- d -l'N "'N't P''+''' ' ~ =, 1T
Hin recently nave '''I I''' ''''