The morning news. [volume] (Savannah, Ga.) 1887-1900, 1896-03-29

consols. 109 Ills for money and 1O9s. for
the account p m--Paris advices quote
per cent. rentes 1ol francs % eentimes for
New York. March 2S.-Money on call was
az per cent Prime mercantile paper,
5l4Q6 per cent. Sterling exchange. duh,
with actual business in bankers bills at
.Sll-ll4.S1es for sixty days, and S4SSi5r
Asss4 for demand. Posted rates. S4SSissg
4Ss1a- Commercial bills. 81. So d4-S7i4. Gov
eminent bonds. firm. State bonds, duh:
railroad bonds, steady. Silver al the board
was neglected
New York, March 2S-The treasury bal
anees were as follows: Coin, Sl2s.So ,6S9;
currency, SO. 66e, 5l4.
New York, March 2S-The weekly
statement of associated banks shows the
following changes. Reserve, decrease,
1886. 80; loans, decrease, s.. 81. 800: specie
increase, Sil6.600; legal tenders, decrease,
S2,l22,5O; deposits, decrease, S5,s426OO; cir
culatiOn, increase, $500. The banks now
hold Sls,l41,425 in excess of legal require
ments.
New York. March 2s.-The Financier
says this week: The statement Of the as
ISOLATED banks of New York city for the
week ending March IS is in marked con-
trast with those made since OF the gov
eminent bonds. the loan item decreasing
for the frst time in several weeks. Loans,
however, are still nearly twenty millions
in excess Of the low record of Feb. last.
II is somewhat difficult to trace the cause
OF the falling off of last week except
the theory that the stock exchange bust
ness was exceptionally duh and that some
of the banks whose reserves have fallen
too low are calling in their loans When
II is stated that twelve banks hold S50-
100000 Of the cash reported by the sixty
six clearing institutions and that half
the former number hold two-thirds of the
surplus reserve. some idea of the distri-
button of cash may be obtained. II is this
fact that has forced a number of banks
out of the loan market almost entirely.
The banks are still losing cash. according
to the report, the decrease for the week
being 2,355,9O There was also a reduc-
ton of s, S42, 800 in deposits. The statement
reflects, perhaps, the final payments made
last week into the sub-treasury by the
government depository banks. Thia 1t
Is said, has been continued during the
might be expected from the treasury for
second payment by the depository banks
into the sub-treasury, but the week closed
without this incident. The April settle
ment, beginning now, will probably with
draw from the market a large amount of
money which has been offered on call, and
If rates are still at a figure which will
force gold out the treasury, which, for
the first time in months, controls the sit
uation, could harden the rate Temperate
ly by requesting transfers from the de-
poSitory banks. The movement of money
is now toward New York, and everything
seems to favor an early resumption of
gold exports. If 1t is doubtless, however,
whether the treasury would resort to this
expedient of forcing rates to a point where
these exports might be prevented even
is in a way, more normal than for a long
time past and the exports of gold will not
attract as much attention as they did last
winter
The averages show the following COM
pared with the last two years: