New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1891-01-26


reduced by $565,124, leaving the amount of de-
posts of legal money for that purpose at $49.-
$4,000.
Subjoined is yesterdays statement. compared
with that of January Il:
Gold ana bull.
oo0 reserve s432So7s6 s39,7So,74s Dec. 800 oSs
certincstes %. 494o423 6l4sOSO Inc. 26o1
Nat Bank notes. SIP, 800 6,Ol7,233 Inc S9ie3f
bull'n, less Ger. - .. ,oo nan
Cash in Trcasy s67 $40 esq SIS 22s s9SsoO3
tional banks 2p346,96s 291sl 7o5 Dec. 1925
rot,, balance s97 5s7 c57 S974Io757 Dec. ss22 500
BANK CONDITIONS COMPARED.
BY the operations of the New-YOrk Sub-Treasury
in the week ended Friday night, which included
the receipt of 81 900 for payments by other Sud-
Treasures, the associated banks lost S26.7l7. The
weekly bank statement published yesterday sAowei
an increase of S6,720,4O0 cash. This result was
not widely different from the known movement
of money which has flowed to this centre from
all sections of the country. The previous state
ment moreover, was made rising averages, and
even now the actual condition of the banks Is
undoubtedly better than the exhibit. The state
ment not thoroughly consistent, however, be-
cause the increase in the item of deposits was
smaller by S1.jls,000 than the other changes
required. After correcting the opposite error Ias
week t6e dsGrpancX st amounted TO he ne rE
planned by the theory of averages. 1t IS 10 ne
regretted that the associated hanks do not follow
uniform system in making their weekly reports.
The changes resulted in gain of S49O5,9j0 in
the surplus reserve, which is now S24.0N9,113.
against So, 03l $50 year ago. and S2O,Ol1'SOo
in 1889.
The changes for the corresponding week of
preceding wears were as follows lsgo0loons de-
cn. sh and Surplus
increase S7.2jO,j25: 1sS9-lOans increase So
10000: cash increase, S3,s57,oOo. deposits in
41g852j0: lsSS-lOans increase 81 800 200.
cash increase S3l44,200, deposits increosa So
l994OO, and surplus reserve increasc S2,344,35O
Subjoned is yesterdays statement, compared
with the corresponding dates of 1890 and 1889:
Looms s o so 400 Zoo q SS 3s s2 s. g - 20
$Ss s5S s s$ .sss sS
The following shows the relation the total re
serve and the total deposits at the respective dates
e sssendeis s5ss 90 'S
Total reerye sl2e OPS 600 si2l,o2o oco si29A07,eoo
against deposs 1oocsi,2OO lo5ao's5o 1Olso7s2'
Surplus ....... a2OOi4,sO0 sl6OtlG $50 s24 Os9 10
Per cent NJ deposits 29.7i 1851 $685.
The bank exchanges the New.York Clearing House
and sold at the NewYork Stock Exchange last
for the week Of the preceding two years compare
follows: 49,. - - 80,
rrcn,os, ss9 g g 5sa g 5sa g
sold 1.l15 500 1,33S,33l S7i,of4
THE MONETARY SITUATION.
The movement of money toward this centre con-
tinued on a large scale last week. The tendency
was toward greater ease IN rates and the ac-
emulation of funds, as indicated by the bank
statement precludes any danger of disturbance
at present Even the Withdrawal of merchandise
from bond before the first of the coming month
will probably cause not the smallest ripple.
similar pethOTic condition of the money market
prevails abroad, and the reduction in the Bank
of England rate for discount Thursday was no
open market. small movement of gold from
the Bank of Germany was without effect. and
though it has not been completely satisfied. the
banks reserve is so large that no trouble is an
ticipatcd Greater danger may exist in conse-
Quencc of the large sums of money held in London
for American account. If there should be no
silver legislation by the present Congress these
funds might he Withdrawn and imports of gold
from Europe would undoubtedly follow The
uncertainty in regard to financial legislation is so
great. however, that not even the adjournment Of
the present Congress could bring about this re-
suit So little progress is being made that a
special session might he rendered necessary by
the requirements of the public business and in
that case capital would again prove It's habitnal
timidity The congested state of the money
markets throughout the world must be admitted
to indicate lack of desirable investments, the
unproftableness Of general business. or common
want Of confidence 1t is matter for deep re
gret that the uncertainty in regard to silver
legislation should be prolonged Rates for call
loans were exceedingly easy throughout tie week.
and while renewals were made at a per cent and
upward; the, supply of loanable FUNDS was 50
OLE per cent on an average. The supply Of
time money was plentiful at 424 ~ per cent for
colaterals The foreign exchanges were dull
and considerably easier, principally in consequence
were lower at about 81 81 and S4 Sc 1-2 for long
and short sterling respectively.
RAILROAD EARNINGS.
The Financial Chronicle reports the nef earn
ings for the month of November Of l22 railroads.
While these companies show gain of S2,'45,-
S33 in gross earnings the increase III working eX-
penses great that net earnings are 81 Az,
s43 smaller than in the CORES bonding month of
the preceding year. Only seven companies show
an increase in net Of $4,000 and only two an
increase Of over 100000. These are the Penn
sylvania with a gain of S4O1 ,s2G, and Northern
Pacific. with gain of S24O,lS6. The railroads
which suffered the largest losses are the Atchison
and the Union Pacific. And their losses are in
spite Of large increases in their gross receipts:
The Tribune has printed the gross earnings of
siXty-hve companies or systems Tor the second
week in January. OF the number forty-nlnc
companies have returned gains of S544,j72 or
13 per cent, and sixteen companies have returned
losses averaging IL per cent. The whole number
gives a gain over the week of last year of $685.
sol, or 81 per cent
The following table divides the and differences
of the companies, showing gains and losses;
ID ia JAM 1890; 1891 Dinerenecso Rc
Il comPsaies i,6i6572 145Ss Dec. 1871 IL
Total o5 co.'s So s27 e93 SO 1s4494 Inc. 1856 sol 81
THE WEEK AT THE STOCK EXCHANGE
The total transactions in stocks last week were
S44,974 shares compared with l.S43,S29 in the
preceding week and 1888 53l shares in the
responding week of last year. Stagnatlon was
the only prominent feature Of the markets. The
movement of prices was steadily downward. and
while the shrinkage in the volume OF business
proved that there no pressure of long
stock the final variations were substantial. \
great part of the small business that was done
was in specialties and in stocks that are not
usually active. The leading stocks were simply
dull and heavy. responding sluggishly to selling
for foreign account and - the operations on
both sides of small traders and professional spccu