New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1893-05-21
A PUZZLING BANK SHOWING.
UNExPLAINABLE GAINS IN CASH.

A LOWER STOCK MARKETING EFFECT FROM THE
MINNEAPOLIS FAILURE.
The weekly statement OF the averages Of the banks
In the New-York Clearing House Association was the
principal incident 10 the business hours OF wnll-st
yesterday. The exhibit caused universal SURPRISE
1t showed decrease In loans OF S3,e'64OO from the
previous week and increase In deposits OF $3ei''
400 The banks reported gain OF S4.o'2oo III
specie and of 81 $4,000 In legal tenders, total gain
In legal money OF 81 ISL 500. The surplus reserve
was increased SG.627 $50, and that item now s'ahcs
at 1874, 422,175. against $l9,555,073 In leos ana
S. OF $50 in le0l. Analyses Of the chances III uhe
various items bring rrccOncable Inconsistencies
with the known movements OF the week. i"e Nv
mand of the country correspondents OF the city banks
for commercial rediscounts tremendous through tue
week, the record probably being broken. iheSe
redIscounts would appear In the banks item OF oas'
and vet n decrease * reported OF nearly ~4Vo''o""'
The gain in specie although small inexplicaDe' D'
the enormous increase holdings Of legal tehders
battles explanation The late exports OF gold heces-
sarily counted for nothing in the system OF Averages
But the exports OF 81. 100000 on TUESDAY anu
Wednesday would figure high IN the aNer"e'''
Nearly all this gold. withdrawn from the euo-
Treasury was paid for by shippers In iesal teuue'
obtained from the banks, representing ioss VI upo'
81 900 OOO The banks gained only about glow
Of Importance from the interior. ie' 'he "''n',
statement of averages records increase IN ieg'i
tenders OF nearly 81 100000. The cn Fossipie eN
PLANTATION for this might be that the Trust co"p""''.
suddenly transferred the banks an Immense SUN VI
legal tenders held In their vaults, Dut 10 re'So"''
excuse has been advanced to warrant such IN ass"1
tiou. II IS generally believed BY bankers that yes.er
days statement shows far more iaVorao'e c"'u''"
Of the banks than i actually the eiise' -
Tho pubication of the bank statement, wohueriu"s
ovorablep as 1t seemed 10 be on the surface hau "o
influence upon the stock specula'ion' ~ ''' 10
effect In the bewildeIment 1t caused Inc "'"i"
received check to the gallopng pace OF the recent
advance In prices. The activity WIS not Pro""'
and th, fluctuations generally were not important
Hut there WINS an absence OF outside uehhhu' III" "p
every attempt realize profits prices sageeu o'.
The closing was steady, but at general Declines ana
some commission houses were disposed to take ieo'
buoyant view Of the course OF values III tue "'"
future The followers OF the bull opcra'orS' "o"
ever remained ccEtented, and predicted that "aiP
ulation for higher prices would Dc uhdcr'a"eh W.
morrow.
The principal outside news was fresh crop reporS
Of less encouraging character, ana the uhsaus'a0
tory reports concerning general business from the
mercantile news agencies. The stock EAchanSc h"u
closed before the announcement OF tnc iormai 'e-
ceivership proceedings In the case OF Tue N"r,''
western Guaranty Loan Association OF Minneapolis
The suspension has been expected here for Week.
II Is not likely to have any effect on New-ior"
interests, unless there should be developments not
expected here. Some bankers have been adViseo
from Minneapolis that the failure would be severe.
The closest estimates OF the liabilities put them IA, a.
from 50 100000 to s6.OoO.OoO. The company hoias ,
So 100000 IN shorttimc paper and Its condlti9n VIII,
densnd upon how far It's holdings OF commercial! paper
may be realized upon. The company,s deDen,ns
bolds are largely held by investors In Newt hssl,,
and through New-YOrk state and holders VIII sinpS
have to wait for payment. The paper OF the com,
pany is widely distributed. so that bankers 90 no'
hcrcve that the failure will embarass other North
western banks. II reported yesterday thdt inc
receiver would be the Minneapolis Trust Company
one az the strongest s0undcst and most careful In
situations OF the kind I'm the Northwest. The receiver
commands confidence, and II Is believed VIII secure
the assets $500 -, D..
The steamship ALrania. which sailed yestercny Ior
England carried S135 095 gold CON and xl,Soo IN
gold dust. The steamer New 0rk carried 81 2oOOOV
gold and $1,000 silver. The steamer saale tooH
out S73,5S0 silver.