New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1891-02-02
A INCONGRUoUS MARKET.
SILVER DECLINES IN PRICE.
INVESTORS AND SPECTATORS DISCRIMI
MATING BETWEEN THE SECURITIES
OF WE'LL AND I'LL MANAGED
CORPORATIONS.
Sunday. Feb. Up. N.

The interruption of Geographic communice ton
prevented the publication of the United States
TreasuTer's receipts from customs and other
sources but the returns for a part of the week
show heavier receipts from customs. The weekly
Treasury statement made yesterday showed
further increase in the net cash in vaults OF
Sl,4GO,02s. There was an increase Of S47O,274
in the balance Of legal-tender notes issued IN
payment Of silver bullion. The Treasurys de-
posts in National banks were reduced S3l0.l52,
and accordingly, By the statement the net IN
crease in cash in vaults and banks was 81, l4l,To
The changes in the vault balances were again
a loss of gold and gain of silver. The changes
were made up as follows: A loss to the gold
balance of S392,337 by an issue of Sl,2Ol.lo
certificates. less an increase of SsOS,763 coin and
bullion: gain of 81 APO, 1922 in the silver balance
by an accumulation of 1897, 59S coin and bullion
and decrease of 1892, 294 in outstanding certiii-
Gates; and q gain in the legal-tender balance OF
SODA by an increase of Sl,166,45S notes, less
an issue of SCI 900 certificates. The Treasury S
liability for the redemption of surrendered
National bank notes was reduced further by
S452,975 leaving the amount of deposits Tor
legal money for that purpose at $40 ,222,O55.
Subjoined is yesterdays statement. compared
with that of January "a ....
Gold and bull,
a and G sioo. ooo .ooo oo-
600 reserve ~. s3973s74s s39,347.411 Dec. sS92,Sa7
Ss ssl b.1H so S5fss D Ia;
S: SS D doar rVS and '''''''''
bull'n less GER oo 600
tlhcates l032S7h l'''ooooo ihV' t,1-D,o-
Cash in rros sos 22s 95e 500 0S9 ss4 Inc 4oo,e
1't tionai banks. 291s17o5 2ssG255s Dec. 1882
Total balance. s97 66i SOS 552 487 s1141,77o
BANK CONDITIONS COMPARED.
BY the operations of the NewYork Sub-Treasury
in the week ended Friday night, which included the
payment Of S141144 for purchased bonds, the
associated banks lost S4743,350. The weekly
bank statement published yesterday showed an
increase of S1,246,7O0 in cash This result was
not greatly different from the known movement
of money which has been steadily toward this
centre The large increase in loans, which
averaged S4,131,7 700, was not due TO demands
from stock speculation. 1t indicated the activity
in commercial business and the requirements OF
merchants in consequence of the changes In the
tariff law. The consequent increase IN deposits
Offset the gain in money, and the result of the
changes was dminution of 81 46.65O in the sur
pns reserve The banks hold S23943,125 IN
excess of legal requirements, against Sl4.26s,450
year ago, and 81 s.s93,175 in the corresponding
week in 1880.
The changes for the corresponding weeks of pre-
81. Qss. 400 cash increase S539,600, deposits In
crease S., oil 200, and surplus reserve decrease
S763,2OO; lss9-loans increase $7,Oos,lOO, cash
increase S5S2900, deposits increase S6,Sl7,3oO
and surplus reserve decrease Sl,l2l,62o.
Subjoined is yesterdays statement, compared
with the corresponding dates of 1890 and 1889
Feb ., 80. Feb. ], go; Jan; 81 ~ 81
Peie sg49ssESS 81 9 eSS2So s sSssSo
u.
The following the relation between the total re-
serve and the total deposits the respective dates
fkRe sslG 's s93ssCS sg5SCS SS1s5SS
Total reserve CTS zoo 1921 sos 600 s126 300
hed dsDOs ts' as'' 1O7S5525 O2O5O lO27o17o
Surplus sl889&l55 sla2Os $50 s2ae'$sSlSsss
The bank exchanges at the New-York Clearing House
and the stocks sold the NewYork Stock Exchange last
week Of the preceding two wears compare
follows oo -, ,oo Tan q, 80,
Exchanges $500 90 !64 sooi 0 1913 sos$ 2S+ gls
No. shares sod...... 1,3l0,533 1o2l 33' l'lWlo'
THE MONETARY SITUATION.
There was no important change in the money
market last week. AS indicated by the statement
nj hank AVERAGES tie movement Of money toward
this centre was continued, but on a less extensive
scale; IN fact, some demand Tor money al the
East required shipments OF currency: Inc large
increase III the volume OF loans, as SHOWN by lhe
statement. was undoubtedly the result OF the cA-
niratou OF time in which goods cOuld Dc WIFI
drawn from bond under the old tarln. That de-
mand ceased with tine END of the week, ana, as
previously predicted in this column. caused no
disturbance in rates for money. Tie tendency OF
rates especially for time loans was toward greater
ease and while there slight hurrleS III rates
for demand loans the average OF the week was
probably not above per cent. 1urtner feuuc-
ton in the Bank of England raie for discount,
which is now ) per cent against per cent last
wear and the low rates prevailing IN the open
market at other European centres indicate unl-
;O
10 he awaiting the decision OF the American Con
press in regard to financial legsltt0n, ana wnlh
last week there more reasons Tor the Dcll"t
that no important action Will lie laAen al the
present session, only an absolute removal OF tne
uncertainty will encourage Lew ventures Jequr-
ing Nrge sums of money. Foreign exchanges were
dnlI but rates were not especially weak; there
was neither large supply OF cOmmerclai Dhis nor
on imnortant demand Tor remittance. The closing
rates were about half q cent higher than week
400 al about 81 81 I-2 and "a 81 for long and
short sterling respectively.
RAILROAD EARNINGS.
The Tribune has printed the gross earnings OF
sixtv-6ye companies or systems for the thlrd week
in January OF the number, htty-hVe companies
have returned gains of 1923 1902, or IFS per cent,
and ton romantics have returned losses averaging
II per cent 1he whole number gives gam
over the week of last year Of Sj6o,3t2, or exactly
10 per cent. ,,-
The following table gives the aggregates and diher'
$1,000 =, tho comnsnies showing gains and losses: