New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1899-08-12
THE OUTLOOK FOR MONEY.

Money should continue to flow to this centre
Needs for handling the crops appear to have been
supped and much money that has been used In
stocking UP for the fall trade will before long be
released The following Is furnished by the New
York News Bureau:
THE known movements OF cash about balance
This week but some Of the banks that not
usually prominent in the express branch OF the
business are understood to have gained cash on
The week No gold received from or shipped
70 Canada. and gold was received at the Assay
Office from any source In the competition by
out Of town bankers and institutions to lend money
IN New-York recently deposits that had been ly-
ing with New-York banks have been employed
but in some instances new money was received
from out OF town, swelling the cash balances or
tbe interior bankers here Gold certificates have
been also used The demand for these gold GER
tihcates Is. out Of all proportion, greater than
the supply and hnanciers express confidence that
the authorized issue OF these certificates will be
increased to accommodate the public The banks
received direct by express in cash N,7375s7 and
shipped 81 53l 6o8 gain on the movement Of 500 %
e7e The banks lost az the NewYork Sub-Treasury
on account Of internal revenue and customs pay
rnents $3.50 900 The apparent net loss of cash was
sls3o2 The daily reports OF the New-York Sub
Treasury indicate for the full week as follows
Total net receipts 20e920o; total payments W.
533 900; excess receipts $4,000.
Unofficial gossip is that the banks in this city
have further contracted their loans and any
special feature in to-morrows exhibit OF bank
averages will be the outcome OF such reduction OF
loans and Of changes in the deposit item. So far
as may be learned. trust company operations Incl
dental 10 Industrial properties have not been an
influence one way or the other
The president OF a leading bank - reported by
Dow Jones e. Co saying
II seems rather strange 20 me that all Of sud
den the newspapers should be filled with such glow
ing accounts OF the glut Of money in Western banks
and of the actual sending by them OF reserves 70
this city. Our experience with Western banks par
tlculary in the Southwest does not bear out some
Of these statements. Some cities may be sending
some money here II so, have not had any OF
H. on the contrary, being called upon for
money and the call is just beginning We expect
TO make a good many large shipments 70 the South
west in the next few weeks. II is natural move
ment OF money from this centre az this time. II
the West can supply all the funds needed for the
movement of the crops, besides the increased de
mands for business IN the West. II certainly Will be
extra ordinary and the first time in the history Of
the country I think that outside Of one or two
centres money is not coming East in any volume to
attract attention 7 look for bad bank state
ment each week for several weeks 70 come. that
is far loss in cash IS concerned. ! also eX-
pect higher money rate, but not a stringent rate
II is TO be expected. and people may as well prepare
for Il Some institutions are doing so, as
YOU Will by glancing at the low interest bear
ing bonds which are steadily declining in price