The age-herald., 1898-01-09
BONDS.
Financial

New York, Jan. S.-The Financier says:
 The conditions outlined in the analysis of the New York bank statement for De- cember 31, indicating an easier money mar ket, are reflected in still more notewor- thy degree in the exhibit of the clearing house institutions for the week ending Jan. S. The banks have gained heavily in cash and deposits and the surplus reserve is $6,375,S25 larger than seven days ago. The statement includes the dividend period covering the first of the year. What this means is shown in the fact the clearings for the week in New York exceed S1 ,OOO OOO,- 900. The expansion of $1O52S,S 300 in deposits and the gain of $91O7, 900 cash, represent the payments of interest which have been made. Part of the increase, however, can be attributed to the interior movement, which is bringing $2,OOO,O0O into New York every week. This money was first attract ed by the temporary high rates prevailing, but it's return from this time on will be a purely normal operation. The reserves of the New York banks for years past have been swelled from January well into the spring season by interior remittances the expansion being regulated by current busi- ness conditions There is no reason for believing this amount will be less now than in former years, and the only inference is that money will be easier. As the trade balance in favor of the U4ited States seems to be growing, it would not be strange if the Investments in sterling exchange, now approximating $200 ,OOO GOO, were increased. This, however, is dependent solely upon the course of money rates abroad. The Bank of England's reserve is lower than for years, but as heavy increase is usual ly made after the beginning of the year, it looks as if money in Europe is following the same course as in the United States. In that case the surplus funds of this country will have to seek domestic chan nels for employment. It need not be re- peated that it will necessitate Q most fa- vorable business outlook to absorb the full total of the money now available. The fact that the treasury is getting on a self sustaining basis may relieve the situation somewhat by stopping the steady stream that has been pouring into the market be- cause of continued deficiencies. Another factor is the gradual withdrawal of gov ernment deposits now in New York banks. The demand for loans is increasing also and will operate to steady rates.
 New York, Jan S.-The exports of specie from the port of New York for the week amounted to $S2,0O0 in gold and $1, ,1O2, ,5T3 in silver.
 The imports were: Gold, sS17, ,S31 silver $157. 7.21S; dry goods, $2,S9O, 152; general mer- chandise $7,2S7,1 ,1Si.
 Bank Statement
 New York, Jan. S.-The weekly bank statement shows the following changes: Surplus reserve, increase .......... $6, ,675 1925 Loans, increase ........ .............. 1995, 400 Specie, increase .............. l. S57 800 Legal tenders, increase ........ .... 7,25O 100 Deposits, increase ........ 10 52S 300 Circulation, increase ...... .......... 6470O
 The banks now hold $22 ,575 in excess of the requirement. of the 25 per cent. rule.
 Dry Goods.
 New York, Jan. S.-The close of the week finds the dry goods market in thoroughly unsettled. The sales in all cotton lines have been unsatisfactory. Although the woolen goods division is well sustained, the general market shows poor results on the whole. Jobbers have attempted little, and have not been surprised at the result. They anticipate heavier trading in new spring lines next week, passing their belief on the advices of retailers who are planning trips : to the metropolitan market.
 New York Cotton Market.
 New York; Jan. 8.-The cotton market opened quiet and steady with prices un- changed to one point lower, ruled quiet, with scarcely hairs bredth variation. It was local market entirely. There was nothing in English news to stimulate ventures on either side of the account, futures at Liverpool being steady, but without important changes in prices, while spot cotton at that point was slow and