New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1893-10-09
TITLE. DOING IN STOCKS.
1NDUSTRIALS MOST ACTIVE.
THE MARKET STRONG But NARROw-THE
RISE IN LACKAWANNA.

no
,,.asv fr,m customs, s2S37579; from internal rev.
90 ose $40 and from miscellaneous sources
.a.e osq total from ALL S6,061,2 against so499-
"a a. the preceding week. The customs recelpts
ra slightly larger than they were in the pre-
oairr week. but smaller than the recent aver
900 II customs receipts are falling OH the rev.
enue from internal taxes is slowly lhcreas-
ing The weekly Treasury statement SHOWS
decrease of 1888 060 in the net cash in Vaui's
and an increase of sS0S59 in deposits in Na'iohai
hanks The reduction in the net cash balances
according to the statement: was sS'oiz,-cl; ,ne
most unpleasant feature of the statemeh. ""'
the unusually heavy loss in the gold palalice'
and this entirely in com. - ,,,oas
The principal changes in the vault balance ,s
we're made up as follows: loss IN uie ms so zoe
balance of 81 72949S, by decrease or s4,s-o,ooe
in coin and bullion, less a reduction OF sso'fo
In the amount Of outstanding cer'nVate' "
gain i'm the silver balance of s24o..5o' by d lui
Their accumulation Of s1,055,14@ in com anu
bullion less an emission of Ssl44oo Oh II.a
notes and a loss in the legal-tender balance OF
s61 Os2 nv an issue of 81 045,0OO currenc! ceruil-
Gates minus an increase of $ss5'9ls IN holes
The holdings of National bank hotes as~ll
were increased by s9267S5. but TINS a,ho''i,c Mss
less than in the preceding Two weeks iicdS
,lry notes to the amount of s536OOO were lssueu
In payment for silver bullion, but the sum OF
sl9l $40 was returned in the ordinary course OF
business, and the volume OF these notes III CIT
cuIation was enlarged only by $544,ooo' WIN
s2576.6S4 held in the Treasury, the en'lre o is
The Treasurv's liability for the redemption of
National bank notes was reduced o.! s'',So''
and the deposits of lawful money on that ac-
count to S20627 sec. 1t Is evident from the state
,nent that the Treasury disbursements in the
last week have been almost entirely IN gold
as in the preceding week they We're chehy IN
legal-tender notes The supply of old legal-tender
notes has fallen to such a point that payments
must be made in gold. unless in new Treasury
notes Silver certificates to the amount of
q 496 se2 returned to the Treasury vaults.
Subjoined is Saturdays statement compared
with that of September 80:
sept. 80. Oct. Z. Differences.
tdcaIn, ~ sJ4. Coo 191 $50 9oG 693 Dec 81 .7294 oS
l. csrtih m9,ss less ssoaA75 s74so3 Dec. os2
Natl bank NOTES. 7,4O392d e,33o7ll Inc. 92j7sj
1 Iacats, ,s s609 o63 ss43,G0s Inc. 24o7S5
Gas. in Treas sio 4C 555 sl5 4o5 % oas oeo
Sssts III 'A. 1894 os2 12S749n Inc. sos59
Tot, balance si3i $50 90; s2s 2l7 43C Dec s35i22ol
Les 200 0 coo 600 BOO
serve ..... 100 900 coo 1oC 900 900 ............
Net cash bal SCI 75o0s7 s2s2l7, i3o DC. ss54c2ol
BANK CONDITIONS COMPARED.
BY the operations of the New-York Sub-Treas
ury in the week ended Friday night, which in
cluded s271 634 for purchased bonds, the asso-
ciated banks gained s3974692. The weekly bank
statement published yesterday showed an aver
age gain In caSh OF So,ol-lV' ilhS iN""i' III
dicated somewhat smaller receipts from the
country than the export estimates the gam
in snecic of course was due to Treasury dis
bursements for interest and pensions. because
country banks are sending only currency. me
statement showed further small increase III
loans (sS47 O0O, and as the demand on specu-
lative account must be small, the banks prop
ably increased accommodations to mercantile
customers. The increase in deposits was larger py
over 81 OO0 900 than the other changes demanded
but this discrepancy was not serious III uep"sitS'
reaching nearly s9.25OOOO and 1t shoud DE re-
membered. also that the differences In the iaS'
few weeks have been in the opposite direction.
The result of all the changes was further gam
OF si50S2 25 in the surplus reserve ana thc
hanks now hold in excess of legal requirements
SOS COS 725 against 81 e36 575 in the corresponding
week a year ago. and s6639,475 at the same
time in the preceding year. +,
The changes in the corresponding week III
three preceding years as follows: ls92-
Loans decreased s1G0i 400; cash decreased
81 500 600: deposits decreased A.1191O0 and sur
plus reserve decreased So 55.s25. 1S91-Loans
decreased 81 991 200: cash increased N0i64oO' de-
posits increased s2,l5s,7oO, and surplus reserve
81 "a 100 cash decreased S9924,4 400 deposits de-
creased Sc 273 100 and surplus reserve decreased
IS. 355.975. $1,000,
Subjoined is Saturdays statement compared
with The corresponding dates of 1891 and 1892:
os 10 ZOO ~, a. s = , o. ,s 49, i i So
L&9 ta'e $1,000 &55o 100 islytac9 d4go3S ,S
Circulation ...... 5oSi7oo 5570,5co lio ocOo
The following shows the relation between the
total reserve and the total deposits at the re-
spective dates: 1900 - 900
Lcgsitcndes S77'o 40 's'l.i,ooo 4',oo' ooo
Reserve .....sio7 s27 800 $40 OF, 500 l2sC77,7oo
' again, DEPOSITS. lclls7s25 nsiO'9s' 1oolos9 80
surplu. .... sSos9sa7s "iosc;'5 '-s''' 81 81
The bank exchanges of the New-York Clear
inc House and the stocks sold at the New-York
las
the preceding two years compare as ioh9w VS.
r>co,oec. iiis s77tis1se s5a - %? :S
20, sssres sod .. I9O4. go 1914 1896 7ol 5O9
THE MONETARY SITUATION.
Tho accumulation of money at this centre Is
progressing rapidly. How great it is becoming
is exhibited by the weekly bank statement
printed in another place. The only influence
this accumulation exerts Is on the rates Ior
call loans At the Stock Exchange last week
money was in an excessive supply, at from Z
to 2ib per cent call. On Monday there was
a bit Of a furry which carried the rate for II
moment to per cent, but this was the highest
figure for the week, and the average rate Tor
now business was probably below 2l2 per cent.
The price of time money was not speclaIy az
fected The city banks naturaily are ieiuCtall
TO loan on fixed periods while they SUN nave
ont large amount Of Clearing House loan GER
tincates The amount of these certificates mas
been reduced by nearly one-hall OF .he eH
issue and at the close of business yesterday
was only s19l5OO0O. The retirements at boston
have nearly wiped out the EXTRAORDINARY loa, .
These certificates bear interest at pei I'm,
and consequently the city banks are deVo'ihs
themselves TO the cancellation OF thch because
they cannot make money WIN can io n a,
about per cent, and with no IdIse ue ,,,
for time loans at above per cent Ondoupt-
eddy the banks are extending ACCOMMODATION
10 their regular customers. but rates IVI tilic
money except for perhaps thirty ana Sixty
days. are not below the rate Of interest whlch
the banks themselves pay on the loan ceTthi-
Gates: For the short periods some ,s''ai,
loans are reported to have been made at 512 and
per cent. Commercial paper renamed en-
tirely stagnant and the only demand was
from out-of-town institutions. In the European
markets money was again easier The Bank OF
England on Thursday reduced It's oiflcial ra,e
Of discount from 32 to per cent In the oPen
market money declined 10 IA 10 10
per cent for discounts, and YESTERDAY
bankers balances were loaned pe' Sas