New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1896-06-01
.,s IA, sosS PSI ol6 s26s SGS 751 Inc 2.G06. $50
THE MONETARY SITUATION.

Tho accumulation Of idle funds al this centre.
due N the movement Of money from the interior
end the lack Of demand among borrowers. is not
Offset 10 any great extent by gold shipments and
rates show a perceptibly easier tendency eau
money ran down TO 1ie per cent in the week,
while time money and commercial paper both
sNoved the effects of a larger supply than de-
nsnd Short time loans can be made at better
,e,es IN Berlin and Frankfort than here. and,
considering these factors. il is not hard to hnd
the cause of the increase in gold exports during
the week Money on call. representing bankers
balances ruled at 1i2G2ia per cent, the last rate
only holding early In the week, the greater part
OF the business at the close being done at l12@-
Der cent. Banks and trust companies quoted
psr cent the minimum. Time money ruled AT
2y per cent for thirty days, per cent for three
months 3G3l2 per cent for four months, ana
Syf4 per cent for six months. Commercial
PAPER was 4d42 per cent for the best names for
three months 4G5 per cent for four months, and
4i.a5 per cent for six months. Names not 50
well known ruled higher. In London call none!
was l.M3. per cent. and the rate OF discount ~
the open market for long and short biiis l3-ioV
Der cent. The Bank of EnGlands minimum
rate of discount remained unchangec at PEI
cent The open market rate in Paris was s
per cent and in Berlin and Frankfort "a per
cent. -
In the foreign exchange market there were no
indlcations of an immediate change from pre-
vaing conditions. The demand Tor reiIlit,ance
continued in excess OF the supply. MAJ ui LTD.
loan bills absorbed about all the exchange fur-
fished By recent sales OF securities ABROAD, anu
the chief source of supply TO satisfy remittance
vas bills to be covered by gold shipments Inc
market was called dull. but fairly gooc amour,
Of business was doing reflected IN the goiu
t1ports. which amounted for the week 70 H.,'ood-
ST. The gold reserve now stands at sluS'"N,,
4 ~
AXE about three weeks to bring il to the
800 900 O0O limit Tr:s time last year the re
serve was 800. 151. 40S: in June 1t reached Slo'-
80 500 and in August, when gold exports pe-
ran again II ran down to S100,32o.S3i. In June
there will be an inquiry for exchange 20 meet
interest On coupons falling due in July on bonds
held in Europe. and the demand induced by
travellers credits will continue to figure az an
adverse influence in the exchange market 10
Offset such influence ii Is confidently expected
that after the Republican Convention there VIII
he a foreign huving movement in American Sc
curities and that the export trade VIII produce
a good supply Of commercial offerings. AS an
.nducement for exporters &c take goId pars IN
stead OF coin the Treasury Department mas re-
duced the premium charge gold bars from
BIC of per cent to Il OF ] per cent out mas
much as the coin furnished at present Is OF
good quality II would seem that further reduc-
ton on the bars will have TO be MADE IN order
70 make 1t preferable TO coin for export purposes
Closing posted rates in the eXchange on, ark se
rates for actual business were as 1olio"s'
Cable. Long bills Short bills.
s,,-,,. lssAd4s0 4S7isG4 s1s, 4ss'2atsss.
yr.nss 1900 al91 5i4ssm5l5
p.Ihsr.,L. 85i& % l-iG995&
CuId,rx ~ 40Ag40l 40a.gto'1
The bank exchanges If the New-York Gear
Ing House and the stock sold at the "-1oIh
Stock Exchange last week and for the same
week of the preceding two years compare as foi-
lows:
June 2, "a June /, 80 MAY MAY &c. 30, 's 30,
E1chsnreS sl6i 4I3 1856 GIL 1913 $41S. lbl iol
No shares sold E. 6Ol.7GG lO5oli3 o3'o'f
\ RAILROAD EARNINGS.
The Tribune has printed the gross earnings OF
hfsy-seven railroads systems for the thlro
week in May OF these thirty-three return gains
Of S3l8.213. or 1913 per cent. and twenty-four re-
turn losses of S215 033 or 90 per cent. The Wnoie
shows gain Of SOB $50, or 10 per cent
Third week In May -,
. 1895 ,s9G. Changes 70
q companies 81 GA 7s7 81 33 900 Inc $3ls "l3 1913
"a companies 49, o s32 20G 211s 273 Dec. 2lj.U33 81