New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1890-07-28


and the stocks sold the NewYork Stock Exchange last
week and Of the preceding two
az follows: $1,000, 900 ,, 49, mo ,, oc son
EXCHANGES 'a} s. s. '5 2 a 81
THE MONETARY SITUATION.
Under the Secretary of the Treasury's invita-
ton for proposals TO sell bonds for the sinking
fund, which We understand has been indefinitely
continued so that daily offers may be- made. the
Treasury OIL Thursday, Friday and Saturday pnr-
CHASED $7,16o.OOu of and IL per cents
principally per cents. This operation
viii release from, tie Treasury vaults about
was reflected in the bank statement OF yestcr-
day, although its eject was partially felt III thc
money market OF Friday. because the sellers Oh
the bonds received Treasury checks for part OF
the purchase which money was loaned against,
cXaoily tie same as If tic checks had been re-
ceived from any other source. The cash dld no'
90 into tie banks however; only through the
Clearing House on saturday The banks PROB
ably held at The close vi business yesterday
So, 600, 900 more cash than they held at the
close of business ola Friday, and tbcc is about
s. 300 600 more bonds to be paid for which are
included in the amount of purchase OF the last
three days The gold exports for the week
Amounted 10 Si.l~ 900, uc;udInt S27'.o"n sent
by yesterday : steamer. tU" la'c 10 appear IN ihc
Custom House weekly rctHrn. The export Of
silver lars fol the week am united :" 81 '4"V.o"V
value 1t shows that silver can he purchased
in the market for export NJ less Than the STOCK
Exchange quotations for silver ccrtlhcAtcs Inc
result Of the years loTei-n commerce TctulIs
satisfactory figures. Notwithstanding tNd1 me IN
norts of merchandise for the month Of June were
Extraordinarily large for special reasons, and tie
prospects for tie immediate future demand Tor
American pI0GuctS never were more promising. -
we can dismiss from the calculations all danger
Of cold exports sufficient even temporarily 70
affect the money markets of Tie country: ASIDE
from the purchase Of bonds for the sinking iuud,
the disbursements of the Treasury nom tnl> tIhc
forth will rapidly reduce lis surplus ana De
sufficient 10 move the crops without ealing upon
the resources of Eastern cities. Hence ntIc
does not seem 70 bc single clond hanging over
the monetary situation. even without taking mi"
tbe calculation that after August - There prop
ably will I've about SjoQ0.000 new legal money
created every month by the purchase OF silver
bullion.
The money market Of last week qravita'ed 10
ward ease and almost universally banks aud III
situations reduced the rate on standing call loans
TO 10 per cent, while making new loans nj 4
DER cent The extreme rates at the Stock N
change were o and . 10 per cent. but the Oulk
of the business every day was done al > Ina
per cent. -, ,.
AT tho financial centres of Europe The tendcncy
Of money has also been toward easier rates, al
tbongl no change : reported in tie minimum rate
of the great blnlling institutions. Tho l'onk y.
ENGLAND last week gained c335 1000 bullion and
raised the prrcrntag 70 Of lis reserves from a. -
10 g % per cent. AGAINST 31.7S per cent az the
saIuo date 1859. when rs rate for discount WIs
10 per cent. against / per cent now. The for
eian exchanges were dull bit firm during the
whole week. and closed on n basis Of : = 81
and 81 ~ "a respectively for long and short