New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1896-02-24
ro,.l ns 81 Ge3 492 s. 4O5 sO3 Inc s7s2.3li d
THE WEEK IN WALL STREET.

About 80 per cent OF the gold subscribed Tot
the new Government loan has been paid Into the
Treasury and depository banks, placing the
Treasury's net gold balance, according to the
latest statement. at Sl059O2,S43. OF the totai
amount paid in. about $l2OOOOOO remains IN de-
pository banks. which actually makes the gold
reserve nearly Sls.OOO.Ooo FROM these heufes
II would seem safe to say allowing Tor Win
draWals which will be made before the WhoIe
amount has been paid Yor, that upon the COM
pletion Of the payments the treasury ne. eOiu
balance will be in the neighbOrhood OF >i5o'VVV-
COO The second instalment OF payments ID que
on March 2. and at the present rate or deposits
on bond account the entire ll,0OO.coo VIII De IN
the Treasurys vaults and official repositories on
or about that date. The restoration or the
Treasury's gold reserve has been accompanied
with little or no disturbance to the money mar
kets which are growing perceptibiy easier. me
Influence of the bond payments upon the hold
ings Of the New-York banks has been much
smaller than expected. and since the hrst pay
ments were made the banks have lost only w..
$4,000 in cash, made up by loss In specie ec, OF
1850 900 and gain in legal tenders or s'zoi'-
500 Inasmuch during this period there mas
been paid into the Sub-Treasury In TINS CITY on
bond account over s5l 900 000 the light loss 10
the banks is somewhat remarkable ana only
goes 20 show how much gold was accumulated
outside in anticipation Of the bond payments;
The effect Of this rapid accumulation or god
without any monetary disturbance mas peei
most excellent upon Wall Street sentiment, ana
II has also inspired greater degree or conn
dence among the general investment public at
home and abroad. The ease In the money mar
ket has not developed any extensive improve
ment in commercial loans and In the more I'M
portant branches Of general business there IL
disposition toward expansion; but, uespiIe
this. there is a strong undertone in all branches
OF business. and gradual and healthful I'M
provement indicated in Increased railway
earnings and bank clearings. Bank clearings
for the week showed gain over the correspond
ing week last year Of about 80 per cent but
they were per cent smaller than In the same
week in 1898. while railway earnings as printed
In The Tribune, for the second week in Febru-
airy. show a gain OF 1863 per cent. and for the
last week a gain Of 6Z per cent
An advance In the price Of the per cent
Government bonds OF 1926 last week was &C
companied by an upward movement in British
consos. which reached 10. the highest price
ever recorded for them The strength in these
securities and In Unite, States bonds had
stimulating effect upon the local and foreign
demand for good investment issues especially
In American railway bonds Stocks did not
Joy such good buying. and probably the greater
part OF those taken by arbitrage houses wae for
local turn; but despite This the character Of the
buying was better than week ago. Although
total sales did not reach 80 large figures In the
bond market. the Increase In dealings was pro-
nounced showing a gain In transactions in par
value Of 49, 1872 900. the total sales for the week
representing $0482,000. ~ which seventeen &C.
tive issues furnished So 600 The dealings in
bonds were at advancing prices the heaviest
gains among the active issues being scored by
Northern Pacific and Atchison issues, Oregon
Short Line and Utah Northern consol receipts,