New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1896-09-14

.5TsI banks. lcc357ls ieeia2cs Dec % Az
Available cash 500 $50 So $40 2s5 95i Inc 81 6o54
D siss 1' M. l2545c45 - 4sl 2se Ire. $500
Act. cash t>l. s242o44252 s242 s54715 Inc $50 4es
THE MONETARY SITUATION.
Money on call representing bankers balances
ruled during the week at lat per cent the gen
eral average being about 5l2 per cent. Banks
md trust companies quoted per cent the mini
mum. The chief source of supply was from for
egn bankers and from local bankers balances,
ana in the time-loan branch Of the market for
eign bankers We're the chief lenders. although
very little business doing. Rates ruled at
G per cent for all periods. with commission in
some cases There was light movement in COM
rnercial paper during the week, and several out
oi-town banks were in the market for high-class
paper: also some OF the uptown institutions at
nom q 10 10 per cent. Nominal rates were
quoted at Q per cent for choice bills receivable.
The supply Of lendabe funds at this centre was
increased by the gold imports and borrowers on
Arst-class security found little difficulty in get
ting accommodation In London money rates
were higher. also in Berlin and Paris. The Sank
OF England advanced its minimum rate OF dis
count % per cent, and the Imperial Bank of
Germany its rate 10 I per cent. Money on call
IN London was | per cent. with discounts in the
open market Is per cent. In Paris the open
market rate was IL per cent, and In Berln ana
Frankfort 81 per cent. The Bank OF England
Il $4,000 was taken for export.
The foreign exchange market opened the week
with sterling exchange steady and Continental
exchange firm followed by dulness and weak
ness on Wednesday. quotations at the close pc
ing about lie per cent below the opening.
THURSDAY there was continued weakness, es-
pecaly in long sterling, which was depressed u!
higher discount rates In London, ana ,IuaS
short sterling and cable rates were a SHADE
1r1e- owing to a further advance in the Lon
do, open market rates. and long sterling was
rather heavy for the same causes: Inc market
closed with posted rates at 4.S2l2qf ooi2 anu
4S4I9d4 So for long and short sterling respec-
lively Rates for actual business closed as fol-
lows;
Sterling g e9s 5s,4 4si icsf .ss Ear
s s.,;3s.safa: o'i%S so. "a l'-i'''
The bank exchanges If the New-York Clear
ing House and the stock sold at the Ne"-A orK
Stock Exchange last week and for the same
week Of the preceding two years compare as
follows
ss 4: 81 a5 7sa E.,; q
No shares sold oO3 lN11V2o '>'l>l
RAILROAD EARNINGS.
The Tribune has printed the gross earnings of
gixtv-three railroads or systems for the fourth
week in August. OF these twenty-six return
gains Of S24544s or So per cent. and thirty
seven return losses of SSs1T9l. or Id per cent
The whole shows loss OF so4o'i1 or % per
cent.
The Tribune has also printed the gross earn
ngs q thirty-six railroads or systems for the rst
week in September. OF which twenty return gains
Of S;}243lS or 11.2 per cent. and sixteen return
losses of S111.SlS or Ga per cent. Ihe WhoIe
shows a gain Of S206. 800, or 4 per cent
Fourth ve-k in August ,.o. ,,,~,-o,.,s Pc
q e5r'a,., 49, 6g4i i69 S055.l7s Dec N>5ae1 l1@
Total 90 .seS7so sl e2s754s Dec. se'o54a 60
n Isl 49, III sH5 g9s s2io PA Inc s324 ll2
Is l.i.s u.s. SO id55iii Dec iI7Ss 81
rr,, e. co.'s. slessI5s s4s45e5s Inc. s2oc5oo -
THE WEEK IN WALL STREET.
revalon,nen,s in the week affecting the fnan-
cial situation were. as rule. iaVolaDle MoIe
gold came from Europe and the foreign eN-
change market exhibited a weaker tendency
while the money market was inclined 10 ASSUME
more satisfactory CONDITION 49,
symptoms Of an easier condition OF me inoieS
marke, and OF the confidence OF lehueiS ="
the financial outlook were renee co ]" VI
Commercial paper market In when 'eH"
ency 10 buy hrst-class paper "& &.'rs which
specially among Out-Of-toWn Dahhs' Nm"
were re,orted as investing TO a CoIslueio
be extent in git-edged mercantile Oi'Vl
The influx of gold from Europe mas Wlousn' a
Wonderful change in hnanGal tior fo,
desuite the flow. OF currency 10 the lh'eiIVI ~.
use in moving the crops. the loss mas III go
part been Offset by the receli's o. 50 I~'d a
lhroad The weekly bank statement si'0 e,-,aI
sight lrcr-s- in cash nOluilESf ~ ''-
cash holdf..oe were above those reported 40
the late arrivals Of gold did not hgure ia w
statement. The bank troubles IL - ,hts cen-
have takcr considerable money run ~ ,,,,r-
ire and the SHIPMENTS Of currency ioI N'"P - 90
poses have heen unusually heavy, the l'9H -
The New-York hanks by the interior do i,0 me
amounting In the week 10 over Ho,VoD.. he,an
ITO" OF gold this way since ii.p 10, ,ceek
amounted az the close OF business So- nnn
70 S2347305O actual receipts and over F-''' r
vD received engaged and on shlpDOdiu - 100
Cay II was reported that tp'"VV"'', ,Si,in, ~
N'vOOV would be sent mere III ors no
that already received. and theTe a!H",' oo,l
good reason 70 doubt that such VIII De the -
Soon after the movement began IL " az -.
IN this column on the authorltS ~ va "a ,,ould
bankers that al least SiVV'V'''' s''N' 80
come this way and in the ooillI" ~ 40
this estimate ,s now too small 81 courSe'
one can accurately estimate the pro- AZ,
amount Of gold which VIII ~ lie maj
every can rest content III ' nv. |rS 'The
the movement t. not yet near us -, ~ as
money market presents a less saIlnsri' ..
pect and rates al present are 9Oi'iS - s,,de
tractve for foreign bankers 10 ieiu ~ -, ~
il would seem as though cohHl'iohS -" ~,
none, ,,.r,,a+ vrere very favorable, al leas'
FOR the present for ~ this market II 10 ~
tlnue attractive for foreign iunu'' as in Lon
view Of tn advance Of discount r'arcive 70 keep
Con. lower rates would no' Do
The sdyance bv the Bank OF Ensiahu " II,
minimum discount rate from : c,,11rt ~ tho
was probably decided upon 80. the hank for
heavy Withdrawals OF golc ilo,, hi ~ as for the
Egyt,t and the Continent as Wen a. ,hat
United states but it is extremely doubtful ina,
such action viii have any material w. ', the mnvn
the gold exports TO this counsly y,inS legitimate
ment Is nureiv natural, Representing iSe'r 49,
trade settlements on the nay ny nd further
the English discount rate, was n n ~ enc
Withdrawals were made from the na" N Dothtpc
and for American account, ana theis - "o MI 70
n the outlook which points to"nlu u q" raasnn IN
the movement indeed there Is every me 80
believe that $50 100000 gold VIII come ~ 'srs
country. and that this ainou , TaI election be-