New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1891-02-09
A MANIPULATED MARKET.
SUYERFLUITY OF MONEY.

SUYERFLUITY OF MONEY.
tINFAVORABLE RAILWAY RETURNS - UN-
AyAILTNG ATTEMPTS TO MAKE THE
PUBLIC SPECULATE IN SHOCKS.
Sunday, Feb. s-p. m.
The United States Treasurer last week received
from customs S5,265,l36, from internal revenue
S2342673, and from miscellaneous sources $685.
100 total from all, S7,9sO.9sl. The large re-
cepts from customs reflect tile heavy Withdrawals
Of merchandise from bond in the previous week,
which was the last week for Withdrawals under the
old tariff. The weekly Treasury statement made
Yesterday showed further increase in the net
cash in vaults of $4,oS6,777. The deposits IN
National banks are reduced 1882, 1888. and accord
inaly by the statement, the net increase in cash
in vaults and banks was S4,654.594 The changes
in the vault balances were increases IN every
item. They were made up as follows: gam
in tire gold balance Of 81 ,045,372 by reduction
of 81 74l 400 in the outstanding certificates ana
an accumulation of S203,9 coin and bullion;
gain Of 81 ,942,959 in the silver balance by an
accumulation of 81 ,394 ss5 coin and bullion ana
a reduction of S54s,O74 in outstanding certihca'es
The changes in United States notes ana Na'iohai
hank notes were gains of about 100000 in each
item. Inc 1reaSuTN'S lIdDulty iVi ehO 'N'N''f''
of National bank notes was reduced further by
S534,162 leaving the amount OF deposits oi les"'
money for that purpose at S4s,6sHs95'
Suboined is Yesterdays statement, compared
with that of January 81:
Gold coin and bull.
ooS rsserye $50 s474ll SAL, 2s2 1888 Inc s1e4SS7
ssi Ssss .s: sssss Sss Inc ns sS5s
E,ver dolla i and
tiacates -. 1775s,e99 1o.7o1,592 Inc l9429o9
Cash in Tressy 500 ESQ ssi s74,C2e col Inc s930777
Ds slRcnai S b 2sse2 500 2s5sos7o Dec 2s21sa
ro,., balance 5524s7 s1OS 2O7 O81 Inc s4e5i,59i
BANK CONDITIONS COMPARED.
Rv the operations of the New-York Sub-Ireasnry
in the week ended Friday night, which included
the payment of S75, 469 for purchased bonds, the
associated banks lost S5O7,674. The weekly pank
statement published yesterday, showed a loss Oh
S2375SU0. in spite of the continued moNenieH'
of money toward this centre. The result was
surprise not only by the loss of money, but also
nv the large expansion of loans, which was au-
yoittcd To he due TO the demands OF STOCK specu-
lation The statement was consistent In liseu'
the discrepancy in the item of deposits being less
than $500 900. The changes resulted III loSS
of S3.7OO45O in the surplus reserves, which aio
now S20242675, against S9,S5S,9oO year aeo
and S14l52,975 in the corresponding week Ill
1889.
The changes for the corresponding week vi
preceding wears were as follows: is9o-ioais ii-
crease Ss,165,1O0 cash decrease SS,Soo'ooV' ue-
posits increase S2,411 900. and surplus reseIoo
decrease S4,4O9,55o; 1s89-loans increase ?0'ioo
600 cash decrease S37s6,10 deposits increase
co sic 400 and surplus reserve decrease S4,74O-
900: lsss-loans increase S3,596,1OO, cash ue-
crease S2.165.7OO, deposits increase Sl,l4S'@oo'
and surnlus reserve decrease S2,45l 500.
Subioined is Yesterdays statement, compared
with the corresponding dates of 1890 ana 1909
reb so EeD 81 , I9S; s5 EsG so & 90
Leans OF 19 sc9 rs 1880 sssi0lo0
fP psaitenders sSSSS 200 sSsS5SSS
Ds position 14ssSSC9 3s7SiOO S4o7lco
The following shows the relation between the total re-
serve and the total deposits at the respective da'e
spsss SSs SSS g. SSSS ss5lS4SS
To,,, reserve. 500 600 s7,7 800 sl24 s2S6OO
aes deposits tsara ae'
surplus sisi3S2s SO s4 gSS SsO2's5S $3.50
fei ee - oxch.nces at the New.York Clearing House
and the stocks sold at the New-fork s'ocA M ,o
week and for week of the preceding TWO wears
is follows; Feb 80 Feb 80 .I Tse ID , 90;
Eschanss 9ss lsS IsiS
THE MONETARY SITUATION.
The superfiuity of money and the popular De
lief in the continuance OF the present o narIet
last week The movement of money still con
timed 10 be in favor of Newl Ork but 1t was less
extensive than before, and there were some I'll, III
d;cations that il might soon be checked Inc
results of the bank statement, printed above We
surprise to the Street. but the movemenI T tSs
reasonable, as is shown by comparisons WIN 'ie
Corresponding period in preceding years. III Is
hardly an adequate explanation, however, 10 say
that the disappearance of large sum OF money
nv the Treasury. 1Or Une
statement of the General Treasury renec.s 'Ie
movements of money of the preceding week. VI III
the last week the Sub-Treasury at New-lrk
Gained little over 100000, while the average
loss of money by the banks was nearly hve IInes
that t1T amount It was fortunate that the aecumu-
lation of money by the Treasury occuIree az d
time when the city banks We're in an exceptionally
stronp condition, otherwise IL Imght nave
Caused a disturbance in rates. The Suspicion en-
tertained in some quarters that large amount Oh
gold has been withdrawn from the p IA anu
placed with trust companies may DE wen gIouinu
cd and in connection with treasury aps0Iptiono
MIGHT soon severely tax the resources OF tne asso
ciated banks Neither cause aifectea the si.ua-
ton last week and money was eXceeu ecu * IoS
dant at from 2a3 per cent on call ana at ido%'
psr cont for ali periods of time. Even on FRIDAY,
when according to the rules OF the STOCK En-
change. loans extend until Monday. rates LOT de-
mand money did not go above per cent, and the
average rates for the week were nondu9 1SSr n of
above 1-2 per cent similar a tha Rank ~
rate Of discount remained at 3 per cent, anu at
all the financial centres OF the Cohtlhenu I S
were nearly low. Foreign exchanges were ~,
throughout the week, and at the close were nevle
sitter on account of fresh demand for remittance
in consequence chiefly of sales of sec9rines; Inc me
closing rates about 81 80 ana S4 o. II ioi
long and short sterling respectively
RAILROAD EARNINGS.
The returns of net earnings for December Ii nn
have come 70 hand have been generally unfavor-
able. in consequence plainly of large increase IN
working expenses. The statement OF the Atcnison
system printed in another column, was even
ISnrso than had been anticipated. and requlres