New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1893-12-17
SMALL LOSS IN THE SURPLUS
BANKS STOP GAINING IDLE RESERVES.
SIGNIFICANCE OF MONEY RATES ON GOLD Elk
PORT ACKNOWLEDGEMENTS OF THE
GOVERN MENTS FINANCIAL POLICY
STOCKS CLOSE WEAK AND

MORE ACTIVE.
The bank statement published yesterday Huica'es
that a stop has come to the accumulation OF vast
funds of idle money In the city banks Nhile theie
was slight increase in the legal tenders heli there
was decrease in specie. owing TO the previous golo
exnorts and the net gain In cash was small, while
there was a decline in the surplus reserve, owing
10 the increase in deposit liabilities Bankers are gao
TO see that there may be check TO tie e!ut OF iue
money The reduction of interest rates on deposits
of country correspondents has lessened the innow
of currency from the Interior and there Is pros
meet that the specie balances of the banks VIII De
drawn down by gold exports. 1t Is regretted now
ever that the excessive ease of money is not Dehs
checked by stronger domestic demand lcr luhus'
the increase In loans representing no enlarged IN
oury of healthy nature. There Is plenty OF com
mercial paper in the market which the BANKS 40
not like 10 buy but strong houses offering little
for sale The demand for loans on poor securities
Ia always strong. but there is little lnquir! ioI
hams on frst-class bonds and stocks Inc Dahhs
also do not entirely welcome the foreign demand
for gold while there Is no settled financial pohcy
CT the part of the Administration ana on this ac-
amt there Is great eagerness 10 see what the
Secretary Of the Treasury will recommend IN MS
long -delayed annual report with respect 10 pro-
vidng for the large deficit in the Treasury. meet
ing the future needs OF the Government and deal
ing with the silver bullion piled up in the Nauonai
Treasury.
The banks yesterday reported decrease In specie
n, q as1 400 and an increase in legal tenders OF
n ss 900 net gain in the cash holdings OF szsooo'
The surplus reserve was reduced $5S60U Inc loans
were increased 307s300, and there was an increase
IN deposits of s2,74s.So0 The banks now hoid IN
legal money $500 o5s,sOo against sllI144lo al inc
corresnond,ng date Of 1892 and S3O7sS,oW IN 1851
Tho surplus reserve is s25, against $780, o IN
1saa and s,s1sl 800 In 1891 The deposits aggregate
e1os *, I'M compared with $449.l95500 In 1892 ana
s4ls 63s 900 in 1891. The loans amount 70 sAloi'""
arainst SAL SOL 200 in 1892 and s422s4o2 200 IN 1871
There were no indications yesterday tnat thcre
.vou,d he shipments Of gold Tuesday The con-
s,.,on ~ the foreign exchange market tomorrow
NAV determine the question. But tho foreign
exchanges closed Arm in tone, ana the reial''e
rates of money here and abroad promise a con-
tinuance of the gold export movement discounts
are pa per cent IN London. ~ In Berlin ana FRANK
fort az in Amsterdam 2N IN Antwerp and IN
r.r cant IN Paris. Money on call IN London Is 29
~ ner cent. and In Ncw-York It s per cent
The discount rates In Europe do not LOOK hign
TO Americans but they are ~ hsn
to promise q continuance ather than relaxation
OF frrnness IN the money Market
PRICES IN THE STOCK MARKET.
rh. .tock market yesterday wns dull and lower
IN .n,ts Of some early advances American Sugar
Refining was the most active stock. the sales reach
inr nearly 10000 shares. The price rome 10 % on
eager covering by frightened shorts but at tho top
price q prominent commission house supplied
stock and the price rnn down 70 @h'
net loss q per cent There weTs no gn Sus
the sentiment In the Street continues fearful or
vnfavorable changes IN the sugar tariff General
Eiectric was active under the operations OF the
bull pool but after its price Wa worssa up 20
points on General Electric are stu given OUT IN
Wall Street. but the preferred stock winch ~ cuu
degree with which the common stock doe: under
the bull sentiment sedulously encouraged National
Lead ran up to q? and after reaction to 2 9s:
fell from ~ 70 s!He7 The railway ss sho H.sr
stfscE Chicago Burlington and Quincy declined
from iSH to ss;hQ77H st. Paul from 90 to slN0
6iE Rock Island from 6T7s to en-. and Omaha from
10 s7N Western Union Telegraph wa. advanced ne
closed with general losses with moro active sell
ing movement IN tho late trading after the punlicn-
ago prices are generally lower although there are
some sharp advances IN the stocks which arc sus-
ceptibio 70 manipulation. The market still holds
Handsome advance from the panic prices OF the
The following table shows the lowest quotations
snade IN the final figures OF the last three