New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1893-07-24

tiacstcs -. eos, 37s, $50 s97 $50 $50 Dee. eSs92so
ccTtiacstes .o'e csee7lT 1919 10 Dec esl7 az
silver STS S aSiisr s' and ''-''-'' '''''' ANY,
tiaesses '0as ' .o e1ooe52 59l7 45I Dec. lolsol
Cash in $3.50 OF 1927 sS9 Dec. s2s4l7Ss
banks banks IN Na'. 11o45.42i l2Ooo,4ss Inc. H5Oea
Total balance $40 21 5OI $3.50 72i ST. Dec 81 s9Jo74
serve 4'.e 100 900 coo 100 100000
Net cash bal sac lsl sol $50 724 s27 Dee 23a6o7
BANK CONDITIONS COMPARED.
BY the operations of the New,York Sub Treasury
in the week ended last Friday the associated banks
gained Sl,243,352 The weekly bank statement
published yesterday showed an average gam IN cash
ing. because il was known that the movement
of currency was adverse TO this city Whle
Clearing House loan certificates are in existence
bank statements may be disregarded, because they
are likely TO be inexplicable. There was a
further contraction of loans to the amount OF
S4,3Os,30O, and nearly One-half OF the gam IN
posits of S3,697,s 500, which was far beyond the
reduction demanded by the other changes ~
is true that the outward movement OF currency
was not heavy until near the end OF the week; ana
that consequently its effects were not fully shown
in the statement. The result of all the changes
was gain in the reserves of $3,Ol 1000, ana
the deficit under the 25 per cent rule was re-
duced further to Sl,256,55o. At the same tim@ s
last year the banks held a surplus reserve Of
S23,Os3,sOo, and in the corresponding week i'll
the preceding year one of $40, O,32o =,
The changes in the corresponding week IN thc
three preceding years We're as follows: s92-
Loans decreased s?o57so9 cash lncreased s
plms reserve increased, S2,836,6oO ls9i-Lo1ns
increased S475,5O0 cash increased S3,4jl,1oo
deposits increased, S6,015.40O and surplus reserye
increased, s3.o47,65o. ls9o-Ioans decreased,
S645,60O; cash decreased; 1922 deposits
decreased, 81 ,666,9OO, and surplus reserve de-
Smhin,nod IL SATURDAYS statement compared
with the corresponding dates of s91 and 1892
s Hss9: 1884, '';9 50 So 'S7 ss
Lesaltenders 81 9e4 GOO GOO 81 go sao 20
d 9sDSsf 49, $500 ss55sco ocs5s
The following shows the relations between the
spective dates: 49,.
Geo SSS g! 81 go 'ss SS
Reserve si21 .29o 900 1854 o75.7oo so1 $4,000
Se against Ssp's's 1Oi css 1slOOo 97ooO6O
sureu. ss7iOsss;ss SO 'Os $50 SO sis'o sS
The bank exchanges of the New-York Clearing
House and the stocks sold at the NewYcrk Stock
Exchange last week and for the week of tile
Preceding two years compare as follows;
EXCHANGE. :S S 8 81 s: ess
No shares sold. as0.3Ii .24oo9 iooi'o-'
THE MONETARY SITUATION.
The local money market was distinctly easier
in tone The bulk of the business on call at
the Stock Exchange was at . anu per cent am
toward the end of the week many loans were
made at b psT s shnvs and below these figures
hut the average rate for the week was prooaoiiiS
not over 5 per cent. The supply OF money avail ,
able for time loans did not seem 70 oe n,1 .eI
larger Borrowers were willing to pay falr rates,
hnt as. i'm their opinion, they conld moi s~ i,
them, they depended on the call loan miaL"e a.
some loans were reported to have been made ~
frnm 70 10 per cent for periods ranging from
thirty DAYS to twelve months. Tie amounts were
not large and o! The c'p Supply S Of time money
go small that the best commission houses at tle
Stock Exchange would he glad TO make en LEE
ments at something above the rate when IIea,
inc House loan certificates carry 49, lhey are SIMPLY
unable TO obtain the money lhefc NeT, sun, y.
sales of commercial paper OF nign gra''r a,
ZION If tho monetary stringencv is expected, be
canse the bank statement published yester fr
showed an unexpected ,, nfb1 by Treasury dis,
hursements but there mus, nave o.en La xo ca
cepts from other sources than the known n hoen
mcnts of money indicated. IL may haNe o,'I
,hot Irust cbmpanies and SAVINGS banks re'urhtI
>" ,' CIRCULATION some part OF their hoardngs maoe
nearly a month ago. Moreover, there Were sonc
smniS roce;nfs OF cold but there were no lndlca-
,;o"s in The exchange market that this movement
,romid soon become large enough 10 ahec' w
canora, situation European markets were 1eVoIu
- sr"a;.i foature In London and On the ton'i-
OF sPc .Il nnsu market rates for money were o.
little higher although the BANK OF Engamt "'"
no change in ts official rate ior ss stnadv at
Paris the s.Is s cant hut at Berlin the rate adj
vanced freely per cent TO ;'-4a'' 80 iri uoai
.nI tho last rate was the highest 1or Ihc VIZ,
This NAV have been due ehtlreS ~ " th ho toyern
80 The army bill and the necessity OF tlc m1tc,
WI VIC li"v o,da funds for the larger military
service. ,oa ,,.re distinctively ir-
,.ru,sr On "Wednesday rates broke sharply nd'
af;erward there was substantial reoo'. snHc,cailv
s,,Sn"gt the closing figures were not spe"!dd, ~,
s,rmn" tbav were not practically lower thah ''rs
were a week ago. The decline se scn,,rit;es for
caused by purchases oil American aomewbat
hn..r. aam.nd for remittance st is evident 'n"t
a. rates far money should remain Delow pon
CONT The mercantile demand would soon peu1 ,.
large There nothing dcing III a. Wv closing
81 the malta and bankers were reluc1Ta,n' ="
their drafts for delivery this week. Inc 81 90
closed AZ IL had ruled-irreguR,r-at aD1uu @rI,s
and 81 81 3-$ for long ana s'ior' '"'
respectively.
RAILROAD EARNINGS
.Thc Financial Chronicle computes. me ne'
earnings Of 1871 railroads in May NJ Si,gg",s ncf
An increase OF s., 5sO,143, or about IL IL p'
cent For the five months OF the year ~ ~ So
gutes the net earnings g. aoc ao9 compared with
~ 80, .or;od n ve.r ago Recent reports OF
gross earnings have been unfavorabIe. ;s OF
The Tribune has printed the gross esr'1l's the
forty six railroad companies or systems five
roads return gains Of sio5,54o and twen .h1ys
roads losses of 1928, 063 The total NUMBER T,o
q dccrease OF S4I7,523, or rs per cent M -
have been printed also the gross eat" ;n July.
The whole number shows decrease OF si'"'''"'
or 81 per cent.
Second week Jul, 80, n,,er.,ce. Pc.
.. ,,mn., a, az Sos o. $50 i.s Inc sIo,so e
81 rsmpsss.. tocoSso S1777o7 Dec 02soos 100
yo,., 90 co.. sSzzs SO ss,psosso Dec.s'7S2s 10