The herald., 1897-12-18
OFFICE OF THE HERALD,
Los Angeles, Dec. II. 1897.

OFFICE OF THE HERALO,
Los Angeles, Dec. II, 1897.
Stili another increase Ii shown In the
volume Of circulation as compared with
Z month ago. According to the treas
ury statement. recently issued. there
has been net increase for the month Of
November Of $14. s51 1874. There were only
two items showing a decrease, one Of
3SS,700 in gold certificates and the other
,S17S.053 in national bank notes. The in
+. creases comprised 1920, 795 In gold coin,
el,0S3,0S3 In standard dollars, 1885, JIG
in subsidiary silver. $460,04S in silver
certificates, $2.916.443 in treasury notes,
es.1S6,002 in United States notes and
Ss55.000 in currency certificates of 1872.
The statement showing the changes In
money and bullion in the treasury for
the month shows q net decrease $685.
008. The Increases comprise $416,017 in
standard silver dollars and $5.153.S43 in
gold bullion. The decreases comprise
tl.451 $40 in gold coin. $7S9,44S in subsid-
iary silver. S4,436.443 in treasury notes of
1890, So. 1s6. O02 in United States notes to
correspond with the increase IN circula-
.tion referred to above, and $320,005 in
national bank notes. together with ST.
s22,1s0 In silver bullion.
+ +
Az compared with the corresponding
date one year ago. there has been an in
crease of over $27.700,C00 in gold ooin:
ato do otlv yor drIl vc HpN Inn 0aa
Of over $2,700,000; subsidiary silver
shows an increase OF nearly $4,000, 900;
silver certificates exhibit gain Of over
: ZIG, 900, 900; treasury notes of 1890 an in
crease Of over $24.500,000, and cur
rency certificates of 1872 an in
crease OF over $40, 100,O 900. There were
decreases in the amount of gold certifl
Gates and United States notes, the de-
crease In the first case amounting to
nearly 81. 800. O00 and In the second case
to $12,600. 900. National bank notes show
an increase Of $2.600000. The total vol
ume OF circulation as compared with
December /. 1896, shows an increase of
over $74.6000O0 the aggregate on Decem-
Der l. 1897, being N,721, 0S4,5SS. On the
basis of q population estimated by the
treasury experts at 78,593.000. this vol
ume would mean per capita circulation
of $3.50. This represents an increase OF
,eo.16 per capita for the month and Of
>0.53 as compared with the correspond
ing date last year.
I. While the stock market for nearly a
fortnight has been exhibiting more or
less improvement in speculative activ
ity and in prices greater cause for con-
graduation can De 1ouhd IN the contin-
ket This latter movement. which began
some weeks ago. saws Bradstreet's, was
confined al first to governments. munich
pal obligations and the gilt edge" yari-
cites of railroad mortgages. The present
week has. however. witnessed an extern
sion Of its scope to other classes of bonds.
and more particularly to the new issues
Of a safe character created in connection
I with recent railroad ORGANIZATIONS. This
Z has not been ACCOMPANIED, however, by
any decline in the choice securities since
government fours a few days ago male
F, q new record as to price by touching lbs
and prices for the high-grade securities
are correspondingly we'll maintained
. 1t Is rather to be concluded that the sup
ply of the better kind of securities is
becoming exhausted, or that they have
reached a level at which the income re-
turn is seriously diminished. The pres
. emit demonstration would further indi-
cate a growth Of confidence on the part
OF investors In the security market,
which with the decided increase of deal
fngs in bonds may be the precursor of a
A~nI
"oA :" "'suA'''ee'
Treasury officials at Washington find
II difficult to respond to the demands for
hills of the denominations of 81 and 81
and subsidiary silver coins. They look
for an increase of these calls at the ap-
nroach of the Christmas holidays; but
this wear the movement of notes of these
denominations and of subsidiary silver
coins surpasses all previous records of
10 the STOCK OF stahuaru snver uonal"
on deposit IN the vaults recoru "a .ne
movement OF WHICH, tosether WIN .hat
OF subsidiary SILVER colnase' - nept oH
the DOCKS In the week enueu .ouas VIE
number OF silver ooiiars sent OUT was
soS,6sS; IN the corresponding weeX oi 1850
It was hAS,s4 IN the niontn VI Nove"
her subsidiary coinage OF the value VI
@l,4S4,l2l was distriputeo' IN the sa,ne
month last year sl,ols'sos NO recoru -
kept OF the daily Shipment OF piils OF tne