New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1897-07-18
SUNDAY,
JULY 10, 1897.
McParlin by whom he has one child. Mr.. Eicuera
speaks English huently. and AZ he 10 thoroughly
yersed III the history and customs Of the United
BANK STATEMENT REMARKABLE.
CONDITION OF THE MONEY MARKET.
FUNDS AWAITING INVESTMENTS
THE CROPS

The bank statement yesterday again made q 70.
markable exhibit There increase Of 1884,
700 In deposits. and an increase in the surplus 70
serve OF N.675.525 There Increase In loans.
however. of only $751; 800. which was somewhat sur
prising. The deposits In the associated banks are
now Ss132S7. 800 against s5c5 100 year ago. The
loans are $500. against N7e. $4,000 There are
enormous amounts Of money belonging to life in
surance companies and other great corporations
awaiting suitable investment. A notable illustra-
ton is found In the fact that when 81 100000 OF Met
ropolitan Street Railway S per cent bonds were
offered last week the subscriptions for them aggre
gated $5oOoo.0oo This Is especially favorable
time for solvent concerns RAILROAD other corpor
atons) to raise money. for II be done adj
vantageous terms. Companies whose funded debt
is In position where refunding is possibility
should find It easy to make desirable contracts to
that end 1t Is certain that many operations Of
this Kind may be looked for In the next few
months. The tendency OF rates for mercantile
paper Is slightly upward, owing to the continued
indispostion Of money lenders to put out funds on
long time at current rates. Bankers believe thaS
better rates for time money will be secured within
tho next sixty days owing to an expansion In bus.
Hess. Offerings of prime mercantile paper at pres
ent are rather light
Except for the great OF money, the short
sales OF sterling exchange would be much larger
tndh tHey are, Decaus. OF the certainty OF a de-
cine In rates In lew weeks. The only way In
MhiGn iaii II, exchange rates can be prevented 10
py the return from Europe or American securtties
ana this Is regarded altogether Improbable II.
tnoush II Is True mat at the moment Europe eynces
no disposition 10 BUY American stocks or bonds.
~ "ouu seem thdt the ony method by which de ay
III the expected movement go.d from EUROPE TO
Tue United States can be effected IL by advancing
tne rate or discount IN London and Paris wneace
tne soiu VIII come. Inc price or American eagles
Wouiu need also 20 be raised 10 "A point only a
siidue below the value OF sOyerelgns or napoeons
these measures, however. could avail for only Q
limited time. ''
IL Is settled that the foreign shortage In wheat
VIII insure d ready safe at a good price for the
surplus supply OF American wheat. As TO rye. the
crop Vi -dVv,VD busneb in the United States GUS
d small hBure In the worlds crop OF 10000 w
pusheis wnicE was the yield last year The crop
OF oais IN the United States this year promises "
pe ABOUT .O5,yDvvJ bushels Last year the worlds
crop was -iOJ,vO,No bushels. he corn crop in the
United states TINS year is estimated l.s31OL,0O
pusheis ne worlds crop last year was 272O0J,0O
Dusheis A repetition TINS year OF the exports OF
NOT only Is there now excellent demand for
wheat but there is steady buying OF corn oats and
rye; Whatever the yied of wheat may be In excess
OF .ast year, this much may be exported and still
ieaVe fWJW bushels to carry over the same as
last year In making this statement OF course the
slime amount Is allowed for home consumption as
was consumed last year. In the last few daya ths
price OF wheat has received n considerable i'm.
petus from large acceptances. bids for EXPORT Ard
aggressive foreign buying. Rumors that France
WouIu take the duty off wheat have also he ned
10 advance wheat II is noteworthy that Amster-
udih mas begun 10 be Il buyer OF American -four A
aupstantlal expansion i'm the outward movement Of
uour Is lookef Tor in the near future.