The San Francisco call., 1899-07-09
NEW YoRK's FINANCIAL CONDITION.

NEW YORK. July s.-The Financier says:
The associated banks of New York If their
statement for the week ending July is TO
be accepted as correct, have less surplus cash
hand than at any time with the exception
of September, 1889 since the 1893 panic. But
the current exhibit IS so complicated by Incl
dents due to July disbursements and also by
the system of averages employed in making 1t
that its totals would not possess the significance
that otherwise might attach to them The loss Of
about s10, 600 600 in cash, for instance, is very
much more than known operations called for,
and the expansion of nearly S,co00oO in loans
demands for accomm odation within the past
two days certainly did not necesstate this Vio-
lent rise AS the statement stands il plainly
indicates that every dollar of the loans has been
taken from the banks in cash. and withdrawal
of deposits has been a similar operation. Mani
festly this is an impossible contingency. more
detailed explanation shows that of the loss in
cash the National City and the Chase National
the National Cty's loss having been about
6,0Go, 900. and its Increase in loans more than
Sc 600, COO.
1t is interesting to note in this connection
that whereas the average reserve of all the
the reserve. exclusive of the institution
is se In otbe6 banks w2d RaE
cent of as much money reported at the open
ing of July The refusal of call money to ad-
made by the banks proved that the situation
Is pretty well understood, and that no fears
entertained as to the future During the
next week the banks will gain heavily in cash.
not only on Government account, but from
other sources well. 1t is perhaps no exag
geratfon to say that at the close of business
Saturday the various institutions were in much
better shape in every way than their statements
would in1TIv The maintenance of a 4 per cent
rate on call money is of itself enough to in
duce a movement of currency in this direction.
NEW YORK GRAIN AND PRODUCE.
NEW YORK, July s-FLoUR-Receipts. 3d.
537 bushels; exports, "a. 4.611 bushels. Dull and
nominally unchanged. Minnesota patents. So 80
d410; Minnesota bakers, SO 1893 25; winter
patents SO S5Q4 10: winter straights. SS 45q3 IS;
winter extras, 81 5o43; winter low grade, 81 45
WHEAT-Receipts, 1885 bushels: exports,
A. 7s0 bushels; sales 495, 900 bushels; futures
8O2Ac f. O. b. aaoat. 7s&c elevator: No.
Northern Duluth, Sl%c + o. b. ahoat to arrive.
Options opened steady on better cables. rumors
of grasshopper ravages in the Northwest and
small spring Wheat receipts later developed
greater strength a sharp demand from
shorts and closed strong at bGAc net ad-
vance. July closed at 79Ac; September, 1850
79!sc, closed 7sc; December, S07SgSOBc. closed
HoPs-steady; State common to choice. 1896
crop 6g7c; 1897 crop, 11Ql3c; 1885 crop. 16917c;
Pacific Coast 1896 crop, 6Q7c; 1897 crop, l1913c;
HIDES steady; California, 21 to Is lbs. 181sc.
W00l1.steady; WOOL domestic fleece. 1s924c; Tex
METALs-The brokers price for Lead is 81 30
COFFEE-Options closed dull and unchanged.
Sales. 1000 @ bags including: q September, s. IS;
december ana January, 50 80. spot Coffee
Rio dull and nominal No. invoice, 61sc; No.
tobbing 6ssc. Mild quiet: Cordova. SG13c
SUGAR-Steady; fair refining, 15-16c; CEN
trifugsl, &c test. 7-16c; molasses sugar,
3 1886: refined, market steady TO firm and
active; No. e Isle; No. I, 4Ac; No. s. 1850;
No 3: 49sc; No; 10. ,4l4c: No: H. 47sc; No. u,
standard A, 5Ac; confectioners' A, SIC: cut
loaf, 55sc; crushed, &c; powdered, 55sc; granu-
lated. SIC; cubes 59sc.
BUTTER-Receipts 572S packages. Quiet.
Western creamery 1I55qGs1S1se; I5Gs factory, l2G144c,
fancy; Western, 141a@151kc No more Southern.
CALIFORNIA DRIED FRUITS.
California dried fruits dull.
EVAPORATED APPLES-6kd7c; prime wire
tray, S4@S1ze; choice, S1k@SAo; fancy, 9QSlhc.
PRUNES-31aQS1Gc.
APRICoTs- Royal 14c: Moorpark, 1a01sc