New-York tribune., 1891-05-18

Gold coin ana bui,
eno nS ss2 ss7 954 Dec. s23o492
o. wy s. netes' less ~''0-o'Oo -. 7,s7,
ssa;s; sSJ SsS5 5RISS 5f45SSS fSs RSs 1890 1890
tiaeatos ,ess 14.2ssos2 1574s,4ss Inc 14o1,950
Cash in rreasy 500 588 ,545 s5974o4O2 Dec s7ss14S
lonsl banfs.... 27,s75,15s 2sss4,1o5 Inc 100000
Total balance. SIS 4187Ol $685. 24507 Inc sslosoS
BANK CONDITIONS COMPARED.
BY the operations of the New-York Sub-Treasury
in the week ended Friday night, which Included ue-
posits Of 5000, 900 for payment at other points,
the associated banks gained $634,s7s. Comment
on the weekly bank statement published yesterday
Is arrested by its complete variance from the known
movements of money. Its results were more sur
prising even than the recent exports of gold
week ago the banks were poorer by at least
S2,5OO, 900 than the averages showed. The ship
ments Of gold to the middle Of the week counted
for 50 00O, 900, and those by yesterdays steamers
for certainly 100000. Expert estimates oil The
movement of currency from The country placed the
balance at not over 81 900. and the receipts
were largest toward the end of the week, they
could hardly have counted for more than haI
that sum. The statement showed loss IN casn
of only $1I2s,90o and by further contraction
in loans and consequent reduction IN deposits
and legal requirements the surplus reserve was
actually increased by S14s,900. The banks bold
S4,912S50 in excess of legal requirements against
S2.OI2s75 a wear ago Sl4,OS2,325 in the cor
responding week in the preceding year, and ST.
7Oj,35O in 1883. No one claimed that the state
ment represented the real condition OF the banks
The changes for the corresponding week In pre-
cedng years were as follows: lo9O-loans de-
crease 81 521 500, cash increase S5l $780, deposits
decrease $44,400, and surplus reserve increase
S525,9O0: 1S69-lOans decrease S3,645,5OO, cash
increase S5,946,7 100 deposits increase S2,S59,s0O
and surplus reserve increase S5,23l 100; 1855
loans decrease So 2603 500, cash increase $6325eOO
deposits increase S3,26S,5OO, and surplus reserve
increase S5,5OS, ,615. In 1884, when the exports
of gold were about as large they have been this
year the changes were follows: Loans decrease
S6,7S4, 800, cash decrease S4,4s3S0O, deposits de
crease $l2,62i, 800, and surplus reserve decrease
$l,32S,42j.
Subjoined is yesterdays statement compared
with the corresponding dates of 1890 and 1880
Loans Any sS go s4c asS 81 81 60 s5s asg u 20
bssosss bg naer' tSs3cSSS Ss5cS 46sSS $3.50
Circulation .......... 4Oi4,5Oo 87575OO a,4879oO
The following the relation between the total re-
serve and the total deposits at :he respective dates
Specie ,.......... s34s310o s755sI 700 s949s4 100
Leea.tendcrs h,5Sl,5oO 2S SoGS,4Oo 4o15o'6oO
Reserve sl25 O64 GOO slo3 $50 100 s1O4 $4,000
Regain against 'sGs deposits 275 a25 ooe2O76O
sqrus a:ac:: 81 s2Os5sl155 s$S5 S5s sss
The bank exchanges at the New.YOrk Clearing House
and the stocks sold at the NewYok Exchange
week and the week Of the preceding two years compare
follows: o 900 ,oo ,,,o 80,
Exchanges i5$$Gss sz$%t7 4So s723 SSd as
THE MONETARY SITUATION.
The money markets were not affected seriously
by further heavy exports of gold. Although rates
for both call and time loans were little higher,
there was apparently no lack of loanable funds.
The deficiency caused by the outflow of gold
presumably was filed by the return of currency
from the interior Rates for demand loans ruled
at about . per cent which was the general bank
gate The highest rats for the week was per
cent, and daily balances were placed after wants
had been practically supplied at per cent One
reason for the great ease in call money was the
fact that many lenders objected to tying up their
funds in time loans. The demand for time money
seemed more urgent on this account, and or the
usual Stock Exchange collateral the demand
not entirely satisfied at per cent for all periods.
On Thursday, when the Bank OF England rate Of
discount raised to per cent, money on call
in New York was easier. perhaps than on any
other day in the week.
In Berlin the Bank of Germany raised its rate
from to per cent, and at other Continental
capitals there was proportlonate advance. The
foreign exchanges were somewhat lower, but rates
hung around the gold shipping point. The reduc-
1iOn which comparative, was due partly TO
the natural adjustment TO higher rates for money
abroad and partly TO the additional premium on
American coin offered by the Bank of England.
The market closed dull and rather heavy at 81 s4
and 81 S8a4 IS IA for long and short sterling
respectively.
RAILROAD EARNINGS.
Railroad earnings continued 20 be satisfactory.
The statement of the New-YOrk Central Railroad
for the quarter ended March 81 showed that the
estimate for March was considerably smaller than
the actual earnings, although the operating eX-
penses were underestmated in a lesser degree.
The actual net earnings in the quarter S36 9S5
larger than the estimate and the deficiency for the
quarter after the payment of a per cent quarterly
dividend was $66396, aga<st S3,0S2 in the same
quarter last year The statement is printed in an
other place.
in Anril of
the increase as compared with the earnings in
April 1890, at 474 per cent The Tribune has
prnted the gross earnings OF hfty-nlne railroad
Companies or systems for the first week in May.
OF this number, thirty-nine companies return gains
OF $32s,s ,s17, or GO per'cent, and twenty com
panies return losses averaging 9.9 per cent Inc
whole number gives gain over the corresponding
week of last year Of $780, ,O32, or 2.l per cent
Tho following table divides the aggregates and differ
enees Of the companies. showing gains and losses
1s week in May lsso eico s4 1883 1ac 81 IS
70 eOnpanies.... O4o 7o7 l. S7'9 Dec 227so 80 yS
Total. 50 COS s5 s4e.23S s5s722c Inc. si20os2 21
THE WEEK AT THE STOCK EXCHANGE.
Wall Street was absorbed last week in con-
temptation Of the unusual exports OF gold. The
transactions at the Stock Exchange were fairly
large but they were distributed unevenly, and
transactions in st. Paul for instance, were more
than one-fourth Of the entire business. The effect
OF the continued outflow Of gold was merely TO
check trading, without large or even Significant
changes in prices. In spite of the educational
advantages afforded 10y the extraordinary shipments
the mystery surrounding the European situation
WAS not cleared up.
In an interesting interview published in The
Tribune Yesterday, Baron Blechroder admitted
that all the gold had been purchased for the
count Of Russia. but his only explanation was that
the withdrawal of gold from London and Berlin
that Russia would not think of for three
wears but did not say that other countries would
be equally forgetful He was confident that the
gold would ultimately find its way back to
america. and that American railroad securities
would be affected only by the general feeling of
distrust. .
The German bonker voices the popul lar senti-
ment Ia Wall Street. 1t is the optimistic theory