The sun. [volume] (New York [N.Y.]) 1833-1916, 1891-07-19

LATEST LONDON QUOTATIONS..
SATURDAY. July 10.

able capital possibly OF an actual congestion
OF money at this centre are dlscernible In to-
days bank statement Moderate Withdrawals
Of money BY the remote interior are more than
Offset By receipts from nearer centreA Tho
Treasury continues to mako largo disburss-
ments which arc not offset. as Of late. BY OK
ports OF specie. In consequence OF these CIR
cumstancss the banks show a gain In lawful
money Of nearly 5k million dollars. all OF
which. together with very light expansion
Of tho loans. is shown In the deposits. The net
result Of tho weeks operations 10 an increase
In the surplus reserve OF nearly million
dollars, bringing that tom up to about 1SH
millions. Tho strength Of tho banks Is fur
thor shown BY the excess OF deposits over
loans. which 10 over 1G million dollars.
AleRitimate inference from these figures 10
that business is contracting in the face Of the
harvesting Of tho largest wheat crop ever pro-
duced il this country and tho most flattering
reports as to tho outlook for other stable a2ri-
cultural products. Another inference that 10
entirely warranted is that confidence in rail-
way securities is not revivinR. although condi-
tons affecting their value have rarely
been moro generally satisfactory than
at present. Conservatism prevails all over
tho word. and It is only tho very
best OF long established enterprises that
appeal successfully to the public On this
point It may DO noted that although tho sub
scription books for the securities OF the Trow
Directory and Printing Company will not be
formally opened until next Tuesday. It was
officially announced to-day that advance SUBJ
scrptions for about 30 Der cent. Of the securi-
ties offered have already been received and
filed.
To-day's brief market was relatively moro
active than any OF its immediate predecessors;
but. as was tho case yesterday. animation was
aot. &hn ~ ho
sibe reason for the selling was the suspension
OF tho English Bank OF tho River Platte. 1t lis
singular. however. that the selling orders did
not como from London. but originated. In the
main. with brokers on tho floor Of the Ex-
change. Tho SUSPENDED bank has been In
volved for long time on account Of its
intimate connection with tho moro hazardous
class OF Argentine securities. Tho wedding out
process that was an inevitable sequence OF
tho collapse Of credit abroad and OF which the
Barring embarrassment was tho most poignant
manifestation. will probably 60 on for some
time to come A majority OF those who are
suffering from overindulgence In Argentine
schemes will probably recover. but there Is
certain to bs percentage OF mortality: and 1t
10 surprising. considering tho extent OF tho
disease. that the death rate has boon SO low
In this country something Of the Same sort 10
going on, but upon much less extensive scale.
The territory most affected is The South. whore
areacrlon from excessive development appears
to DO In progress. Tho revelations OF financial
Irregularities at Philadelphia have unQuestion-
ably had their effect In retardinR the revival Of
confidence. Besides 1t would be expecting too
much for the commerce Of this country
& adsRs ,!ss' n ~ %fshs tsS
SseS 81 S IA hs ss S
standard. while in this country i must b con.
~ to Whistler the increasing supply OF our,
rency which has kent our money market easy
" hsyi spsd 9 relieve in
All Of ihese and many other conditions have
their influence upon those who own or control
mont or for speculative purposes. 1t would be
diiirut TO toll lust what particular develop
operator. nor Is II necessary to Know:
One thing must be patent however, that
people II large means. whether their use
to pstrenlzs Il At q season. Of the. year
). Is IL. 81 hi5
"a ths profits q ne street & :y:ffy year ~, e.
tune o. brokers and those who feel complied
to trade in stocks Sysry day that shi, l. So;
what may be inoongrlousiy termed . season
Of hbsrnation as patiently and economically
As Compared with the Anal PRICES OF last Sat
Eortant net decI mes a,e n St. Paul. 81 ional
sa'ssn rH8 and SsshS fse& e%I chs
Pacific Mai, and Wheeling ana iMk. Erts; -
"t eampas and and srs
Erie preferred. ~ each; Laekswsnns 10 I;
aSsSH hios saa sna u. Ok