New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1891-07-19
NETWORK TRIBUNE SUNDAY
CLOSING PRICES on rnILApELpH1A srocKs
THE BANK STATEMENT.

Saturday, July tsp. N.
by the operations of the New-York Sub Treas
ury In Che week ended last night the associated
banks gained $l,Ss7,Ss4. The weekly bank state
ment published to-day showed an increase in
cash OF S5,45l, 800. Although the movement of
currency mas been toward this city, the increase
was SO large that 1t must have been partly the
result Oh the rising averages o week ago. The
statement was entirely consistent, and in conse-
quence OF the unexpected gain in cash and re-
serves, 1T was an agreeable surprise small ex-
pansion OF loans must ne accepted as an indication
OF renewed activity in general business. for the
stagnation of the stock market naturally exerted
contrary influence. The result of the changes
was gain of S3,047,650 In the surplus reserve
and the banks now hold in excess of legal re-
quirements Sls.4S9,675, against $5,702, 400 in
the corresponding week year ago. and 81 o54-
$50 In the preceding year.
The following shows he relation between the total re-
serve and the total deposits at the respective
1sS 5rly 900 Inc DssEssGs
bsposs .Ss goo De
Circulation 3,67o6Oo 81 $4,000 Inc. 500
The following are the comparative statements July II
Specie scS ssa 90 se5 800 500 Inc g. 2se 400
Total sII5 100000 sl2O 400 Inc s. 45i 500
against deposits loO74ss7S 1o2 oc27 10 Inc 1903 $50
Surplus 80. s144o2 C25 as 4se o75 Inc. "a e47 $50
- The Clearing House statement is as follows:
For to-day-EXchanges, S00,6g0732; balances
S5,l96,452. For the week-ExchanueS, S54s 7O5 =
$50; balances, 30,534.s46.
WHAT WAS DONE IN STOCKS.
The stock market was affected adversely by the
announcement that an English and Argentine bank
had been forced TO suspend payments. Prices de-
clined a fraction In sympathy with the London
market, but as II wos short business day in both
markets the real effect OF the failure could hardly
be measured Private dispatches noted an advance
in the open market rate of discount To . I-2 per
cent, which is the minimum bank rate. There
was no similar influence on the New-York money
market. because the rules of the Stock Exchange
extend demand loans over the Saturday half-hoi-
day. There was, Of course, little nothing doing
II foreign exchange, but rates were strengthened
cause further exports of gald next week. 1t could
not be learned that there was any good foundation
for this fear, and il was agreed among bankers
that IN any event shipments on this account would
be small The movements IL the stock market
were comparatively active and decidedly irregular
The stocks that are supposed To ne held largely in
Europe Were naturally the centres of interest, but
while 81. Paul lost "a per cent, Atchison closed
only Is per cent lower. In many instances the
early declines were practically recovered and the
closing was strong, II not specially confident. The
publication of Unexpectedly favorable bank
statement did much 70 cOunteract the influence Of
the London failure. 1t accumulated the popular
belief in the financial stability of this country.
THE DAY IN THE BOND MARKET.
Government bonds continued 10 be neglected,
but the recent advance was maintained with evil
dent confidence. The closing quotations Us
follows;