New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1896-09-21


There was no important change in the local
-s,av markets The supply OF loaLable lunus
Nv ~ sorh.less show an increase before long. as
~. interior currency movements give some in
siss.ions Of growing lighter, While there Is no
S~r ~ q dimnution in the gold import move
go Tho demand for accommodation from
msrcantile borrowers is by no means urgent
and the bulk of the business being done IN com
-,srcial paper is with out-Of-tOwn institutions
IN this branch Of the money market however,
.ba-e are Indications of more activity. None!
m call representing bankers balances ruleo a.
sol per cent. with exceptions at per cent,
srd closing rates on some days at d ana per
cert J., does rot appear likely from present IN
6icatjors that call money Will rule below oi2 or
6 per cent this season. The average Tor
last week about per cent. banks
and trust companies quoting that inquire as
,heir uinimums In time money tnere Wse
very little doing. the rate Tor an peIIous
,s~,airine unchange at per cent. with
commission II some cases. Foreigr bahk-
ers lent some money for ninety DAYS on so.u
notes one loan Of S5n0WO for a year az pe.
zen, vas reported. Choice commercla' pup!
was quoted in some quarters at per cent; out
ne generally quoted rates were 5. and ~ per
cent IN London call m'ney was per cent WIN
discounts In the open market ls4Gl7s per cent
The Bank Of England made no cnanee IN us
minimum rate Of discount. which renamed al
o. Pc cent. In Paris the open market rate
was l.. and in Reriia BE per cent
u he foreign exchange market sterling
opened The week 1-32 To 1-l6 per cent higher,
v'lfr Continental rates unchanged. while Tues
sterling was heavy ard long bills less So anc
long -eichsmarks were weak owing 10 hlsh
money rates in Germany. The close was easy,
with little business doing. There was eoou
supply OF cotton and grain bills during the week
n1s,e5 rates were / S2Q4 S. and 4s4l9 Q4.S5 for
long and short sterling respectively. Rates Tor
actual business closed as follows:
s.-llns ~ so; a.s5a . sss33+
hs s1Ss e5 i-.Gss5 o. -iede4 - "a 1922
Less l-ls
ing House and the stock sold at the New-York
Stock Exchange last week and for the same
week Of the preceding two years compare as
.sp..s. 81: 6 e :s} q = So
The Tribune has printed the gross earnings Of
sixty-two railroads. or systems for the first
resk IN sept t S9t or thff9se +aTy e1 Te
thirty return losses Of S200003. or - per cent.
The whole shows a gain of S11S,1Si, or % per
cent.
the Tribune has also printed the gross earn
!nrs q thirtv-saven railroads. or systems. for
the second week in September. Of which eigh-
ton return gains Of $439.I3'. or 223 per cent
ard nineteen return losses of S412 4oG or 1879
le~ cent. The whole shows a gain Of S21279
Or % per cent.
!. sss a S'' , l.? So ss 1873 Inc ss &
o. consaries 49,. 25s5isl 2$.5l7s be-. 2O,oo5 =
Tai c. 81. 50 ,ss go seaos.7'i Inc. si7s7'l 20
L Sa#5s si'ss 25 s' So 55s5o Dec ~ 1873
-s,a, - co.'ssis.,4ss saoio.7c7 Inc. s27.27o o5
THE WEEK l.; WALL STREET
Some Democrats of a certain class have joined
The more or less hobo-like following of Mr.. Bryan
in this state: but the cause OF sound money goes
steadily on and the business interests Of the
country continue to look 10 the election OF Mr..
Mckinley as the sole hope for the preservation
Of American trade and American prosperity.
Mr. Bryan has in his remarks warned all voters
not 10 cast their votes for him II they believe
that the gold standard is a good thing. Tor ne
will II elected. get rid of it at the earliest posi-
BE chance. This means that he VIII tell ms sec
Rotary of the Treasury 70 stop the payment or
Government obligations in gold. that the cause
OF population may be unchecked, and that ruin
alton. poverty and distress will follow Nearly
every business interest in this city has unfurled
10 the breeze Mckinley and Hobart banners
which speak more eoquenty than words the
prevailing sentiment among the great army OF
business workers In this city who 90 not mtend
10 pass the opportunity for showing their cOnn-
dence in the Republican candidates and plat
form and their condemnation OF the incenoiary
ideas Of Bryan.
In Wall street as elsewhere. the great sound
money campaign is not allowed to slumber. In
the current dulness In the stock market, panK-
Ing houses are sending out all over the country
much valuable sound money literature, and one
obscure little firm Of bankers, processing TO be-
neve in silver acknowledged in the week the
market letter the great work being done FOR
eoun6 money nv the effective honest money
market letters OF honest money bankers "aii
Stree, business is on sound basis, when VIII
develop into large proportions when pohucs 1ahe
q less prominent position in mems thoughts' Cur
rent speculation in stocks is nsh'. lneIe 40 ~
outside buying of any importance and commis-
sion houses are waiting in hope ana Ieasoha ,oa
expectation OF more orders after the NoNeiHDei
election. The money market presents no Iiui
cation Of ease. but, the other hand. J. EVE
no symptom Of stringency. II ia not likely that
the market will revert to easy rates this season
as the demand at present for currency LOT VlDp
movement purposes continues. and II ls likely
that there will be an active demand for accom-
mediation from fall trade necessities. The eleC
ton Of Mr. Mckinley will increase the demand
for money The imports Of gold from abroad
have ended the stringent period In the money
market but the call for money from the lnleIio'
has prevented the imports from materially IN
creasing the banks deposits The Grange IN
the holdings Of the New-York banks since the
Nomination OF Mr. Bryan have been heavy
showing a decrease In deposits or No. 'Soo'osV
decrease in cash OF s27 927 900. made up by a
loss in specie OF 50 $50 600 and loss In legais or
I'll 93S 800 a decrease in loans OF ~ 404 lU ana
an increase in circulation or $4iio,"p WI"
such changes and with an increase IN the ue
mand for crop movement purposes and with the
probable heavy general trade demand iater on
II can readily be seen Why there VIII not De IN
easy money market in the near future. High
money rates at this period are not altogether
unfavorable. thew may initiate against specu-
lative operations on the Stock Exchange. Dut
that Ia no misfortune and they VIII tehu 70 III
fuence the London money market anu HeiP INV
movement Of gold this way. , ., ,o,,s
Inc largest part or the so,u ~ III. % paris
nent has been switched from London 70 fMis,
but the point OF export r. immeteriAl 10 ms |
country Just so long the gold comes W.
way. English money rates are higher am auae,Ia