New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1891-02-16

liability for the redemption of National bank notes
was lowered by $51l,3 leaving the amount OF
deposits of legal money for tnat purpose "'
$49, l76,5SO .,
Subioned is Yesterdays statement. compared
WIN 'ii"O u Feb :. Feb. IA. Differences
Gold coin and bui.
1 ooS s,opVoo Sal o927ss s4zsl52so Inc 81 s2240e
sss notes, s s5S5 sSs3 Be- Be- sss5s
e; >nl 6ol Lar, e sna ,,osoo
t uu. u, ies' " 10 7o1592 211454ss Inc. 1,443se6
Cash in Treas,y s746-6e6l 4es Inc. s2oi6So7
tlponai banks 2s5sos7o 2o,o5e ,s14 Inc. 77o944
Total balance $IOS 2O7 O8l $lOeOSl 1872 Inc s2s27'l
BANK CONDITIONS COMPARED:
By ira operations of the New-York Sub-Treas.
nrv In the week ended Friday night, which included
the payment of $65.640 for purchased oonos tlie
associated banks lost So 493, SO. The weekly Dahk
statement published yesterday showed loss Oh
only 81. 100 400 although expert estimates OF the
interior movement of money indicated loss by
This cause Like the statement of the previous
week, it was fairly consistent III ltsell put III
both weeks the deposits were less thail tle o.icI
changes required 1t like it, also, i'll 1ur'hGr
increase of loans, but while the loss OF cts "eeh
ago was larger than there was any reason ~ tS
pect the present statement was surprise ny thc
small decrease in that Item. The paymcnV lor
gold taken for export was not made uh'Il frI-
DAY afternoon, and by the system or aNeraeeS
onght NOT 10 count for more than 100000 IN the
etatnwnUt y The actual condition of the banks
was probably poorer by several millions thah me
SHOWING The change resulted IN loss 10 tne
surplus reserve Of $l.749,975, and the oanS now
Sls,49c,7OO above legal requirements, against
s., 49, 100 a year ago, and S1I205,6oo In lhe
preceding year. e
Tie changes for the corresponding week of pre-
ceding years were as follows lS90-loons increase
81 500, cash decrease S2,674,6O0, deposits
decrease ST ,25l 200, and Surplus reserve decrease
So 36I s25 1855 loans increase $4,000, cash
increase S2525,10O, deposits increase S3,l29,
and surplus reserve increase S3,142,625; lsse-
loans decrease S2s.0OO. cash decrease S2,9sO,4oo,
deposits decrease S3.O9s,OOO, and surplus reserve
decrease S2,2o5,9OO.
Subioined is Yesterdays statement. compared
l e. go go EfP y, 900 I ESS I ~ 20
sssend'' .s g :l5SS GAG &c ssSS
Circulation ......... 435OOoo 300 S5S4oo
The following shows the relation between the total re-
serve and the total deposits at the respective dates
Specie .......... s9o53GOoO ss59l2 goo SIS $50 900
Legal.senders 362s1,7Oo 2917l,oOo 81 200
Total reserve sl20 177OO s115.osi2oO sl2a 2221oo
Ned deposits sq 1ce 500 1o75soO 1oa7.s'OO
Surplus , 09s e 90 s74o 552 ss 792
The bank exchanges at the New.York Clearing House
and stocks sold NewYork Stock Exchange last
week and for the week of the preceding two wears compare
Fs S ss F ESQ q ss 20 e. Jos Z 81
No. shares sold. L717122 1,2l03S3 o13'l9o
THE MONETARY SITUATION.
The large increase in loans shown by the fore
going statement makes the expansion in two
weeks Sl2275,200. Bank officers agree that
there has been mercantile demand in the city
or from the country adequate 10 explain this
large increase: while the speculation in stocks
has been so dull that of course, there has been
even a smaller demand than usual for accommOda-
ton. Unless there has been some important
change in the relations between the banks and
the trust companies the only reasonable cOnclu-
sion seems to be that this large expansion is in
way the result of recent negotiations of new
resumed the publication of detailed statements al
though the last Clearing House certificates were
cancelled week ago, any inference in regard
to the published items must be necessarily super
fetal In its decision not to issue detailed state
ments the Loan Committee may he Influenced by
fear of Congress: but as there remain three
weeks before the end of the session, the committee
might have resumed publication. even If its labors
had not been completed and the committee finally
discharged. As matters stand, no positive eX-
PLANTATION of the statements of averages Of the
last two weeks is accessible. Both statements
were surprising in several respects, and it may
he that the unusual changes contrary to the
known movements of money have been subject
to financial alterations of banking institutions.
not TO mention a few private individuals who
also may he anxious TO have n part Of their
capital where they can at any moment put their
hands on il.
There were no changes in the conditions of
the local money market, and at the Stock En-
change the rates for call loans not over
2 10 per cent, on an average, ranging from
! 10 70 3 -2 per cent. Time money was in a
little better request. but the demand was not
sufficient TO raise the rates. which remained at
1-2a5 per cent for all periods. There be
no doubt. however. that continued absorption of
money by the Treasury, n seasonable movement Of
money to the interior. which has already begun
and the export movement Of gold, Will rapidly
spring up demand from mercantile and specua-
tive borrowers. While the shipments of specie
az he end Of the week were allied special trans
actions there is some reason to believe that they
are but the beginning Of the usual spring out
flow and that the beginning earlier than
usual, simply on account Of the extraordinary i'm.
port Of about S.. 600 600 in December. which the
Bank OF England virtually loaned New-York al
that time.
Foreign exchanges were not active but mater
ally higher The small supply Of commercial bills
with a demand for remittance. on account botl
of merchandise and securities. prevented any con.
cession in rates. The shipment of gold partly
relieved the market and at the close the rates
wer" shade c9seT. although they must be quoted
al 81 Sc and - SIS for long and short sterling
respectively.
RAILROAD EARNINGS.
"The Financial Chronicle reports gross earn.
inss in the month of January of 90 railroad sys
tens which operated 10000 miles against 1929!
in January, 1890. The increase in mileage is
nearly 3.25 per cent, while the increase in the
gross earnings is S2,lG0,32S, or about 6.2j pei
cent. This result is the gratifying because
the comparison is with month of heavy earnings
last year wien the gain no less than Il. Il
per cent over the same month in the preceding
year. That railroad traffic is beginning To fall of,
slightly is shown by the later returns by weeks
The Tribune has printed the gross earnings of
slNty-SN companies or systems fOr the fourth week
in January and of this number f0riy-nine COM
panieS have returned gains of $3.50 S3j. or 49,
per cent. and seventeen companies have returned
losses averaging 81 per cent. The whole num-
Der gives gain over the week Of last wear OF
$506,00l or g. per cent For the first week in
February it has printed the returns of forty-eight
companies, of which thirtV-threc companies have
reported gains of S342,7l6 or I3 per cent. and
fifteen companies have returned losses averaging
G.l per cent. The whole number gives a gain
the week of last year of 1924, 39S, or SO
per cent
following tables divide the aggregates and differences
Of thc companies. showing gains and losses
First week in Feb 1890. 1891. Differences. Dc
IS connanics 80 G39 222 81 9s 9Ss Inc S8i2 nc 40
10 cOmpnics.... 1875 9G7 627 $40 Dec. 3lS GI
Total COMPS - 375 lS0 500 5S7 Inc 1924 1913 SO
Folfth week in jan
80 ccmpni s.s5ol9 154 s. coo $50 Inc sGso s95 49,
II companlcs-... 3053SfS 2sS50li Dec. ia .S34 1T