The Indiana State sentinel. [volume] (Indianapolis) 1868-1895, 1875-03-02
FINANCE AND BUSINESS.


GENERAL MARKET REVIEW.
EFFECT IL PHILADELPHIA OF THE RAILROAD
WAR.
Tie philadelphia Ledger, with reference
to Pennsylvania stock, saye: TIE fierce
correspondence between tue respective
beads of the Baltimore & Ohio and
Pennsylvania railroads has been the theme
or very general conversation on Change,
at bank, and, indeed, all along Third
street. The moro timid have to some
extent put thsir stock in the market for
szie, the result of which was q decline of 4
10 y on the closing sale of the previous day (;
but the very large amount of transactions
reported in the stock show that there are
plenty of buyers who are quite ready to buy
at the decline. The amount of sales OF this
particular stock reached $1,000 shares, the
largest amount ever reported in this market
In any one day. The opening price was 55%
from which it sold down 20 55, and closed at
Size lower figure.
The New York Produce Exchange Weekly
presents the following estimates: The ex-
ports of wheat aud wheat -four from France
from September / &c DScem Der 81, 1874, have
exceeded the imports, as will be seen from
tabular statement TO be found elsewhere in
this report.
Tho whea. crop of the United States 10
1874 is estimated at 300,OO0.000 bushels,
against 2s7 100000 bushels in 1873, in which
lsster crop year (1s73-4) the foreign exports
az wheat and flour exceeded 10000, 600
bushels.
The annual average foreign exports OF
wheat and wheat -four from Russia for the
last ten years has been 40 SIS, 6S5 bushels. 1t
Is expected the surpluS of Russia from the
crop of 1874 will exceed the average OF the
last ten years.
An average crop of wheat in the United
Eingdom is about IL, SOC. 600 quarters, and
onnn0l cnnSnnrltIpn for all nuTn0SQa Is
placed at 1900 GOO quarters. The crop of
1874 in the United Kingdom is estimated at
10 per cent. above an average, and would
give supply from home grown wheat from
1874 crop of l3,75O,0O0 quarters, leaving the
requirement of foreign wheat from imports
at $50 900 quarters, equal to &C, 900 600 bush
els.
THE LOCAL MONEY MARKET.
The market continues In pretty nearly the
same condition as last week. There is per-
haps an improved demand from merchants
who are taking in new goods, but this class
business is not yet fully developed.
There IL an abundance of money on the
market TO meet every Legitimate demand,
not only in the line of commercial discounts
by the banks, but for long term loans in the
hands OF brokers. There is more comp5ti-
xion between the latter than was ever
known and yet the demand is SO light tha.
mono of them are able to handle
as much paper Gs they wish to
Tor eastern investors. As evidence oil
TIE outside confidence in the future of Indi-
annapolis, we are said 90 be the best supplied
with loansbls funds ofany city in the West.
Any property holder can easily obtain loan
to amount off one half the cash value of the
property, ard in the estimate The latter il
but little deprecated from the highest
prices that 1t would command in the most
prosperous times. A year ago there were
bushels OF paper on the market at is per
cent. that could now be negotiated st from
8 to IL per cent. great number OF borrow
* 2rs ..,-ing advantage OF tie prcscrt %