The Indiana State sentinel. [volume] (Indianapolis) 1868-1895, 1876-08-16
Money AND The saAhhEro.
OFFICE OF THE ISDIANAPoLIs SENTINEL,

TUESDAY EVENING, August 10, 1916.
The local money market presented no new
features to-day as compared with reports OF
the past ten days. The banks are responding
to the wants of depostors and regular custo-
mers promptly, and the rate OF interest is 10
per cent, and there woulo be little difficulty
in placing strictly gilt-edged paper at that
rate. Capitalists who took their chances in
the outsids market are enabled to loan money
at rates ranging from IA to "a per cent.
Eastern Exchange has been in liberal sup
ply for the past week. The rate is par between
banks and for counter sales, l-1O to g pre-
MUM is charged.
City orders are steady, at % cents on the
dollar.
INDIANAPOLIS CLEARING HOUSE.
For week ending June lO.-s4 $500 81, 100, "Ou
For weeks ending July g.. 527 800 $50 O00
For weeks ending Aug. D.. 4,S73OO l,4l OyO
Tuesday, Aug l5......-....-....-. 225,0ol $500
MONEY AT OTHER POINTS. I'd.
CHICAGO.-The Inter-Ocean of Monday says
rates of interest remain unchanged -79IO
per cent. at the banks, according tn the
quality OF the paper. while unexceptlonal
offerings occasiona ly meet with favor at G6
per cent. Un the street rates vary in about
the sa ne proportion. Real estate loans range
at 7Gl0 per cent. according 20 amount Of
money DE- sirt d and security rendered.
ST. LoUIs-rhe Republican OF Monday say s:
Financial institu ions report a gradual i'm
provement in the inquiries for loans, though
their vaults still hold a large accumulation OF
surplus loanabe funds. Rates o. discount
were easy at to 10 pc cent. per annum, with
some traOsacuo at even lower ng1re. On
the streets but little negot able pa is offer
ing, and rates are merely nominal.
THE SILVER DECLINE
The Public of recent date says, in regard to
the decline in the price OF silver" the circu-
lar of Messrs. Watts & Co. presents some in
sructive facts. 1t gives theimports OF silver
from diffe eut countries, and the exports,
showing Cd that the United States is ssnding
no more silver TO Eng and than in 1873, and
less than III 1874, for the imports for the six
months ending June ID from this country were
81 2s3s51 In 1870, and 81, g. 5S in 1873, and e.,
e46921 In ~; snSw'ng Inat inports i rom
from f.d2 49, in 1874 and 81. .979 in 1873 TO
81, SIS, NJ during the same months in 1910, and
(3l that imports from other cOun 'ries, Ger
MANY excepted. also declined from G ,49,9I8 In
1874 TO .Us3 $50 in Is D, and flt9T,9se In 1876
From Germany alone there has been an in
crease of e, 900 since 1879, the imports beirg
for six months ell PSI, 81 IN 1876, and f559,9S7 In
1873, but in 1874 they were 81 3 ,S9. Finally IL
is shown Iha the exports 10 India and China
are larger han in 1871 or 1874, an that the to-
tai exports TO other countries so show an in
crease each year. The Importance Of these
facts, in view OF the claim that glut of silver
has caused its price TO fail. will be rea lily
appreciated.
NEW YORK MONEY AND STOCK MARKET.
NEW YORK. Monday, August Ia.
Money market easy at 10 per cent.
Prime mercantile paper S@4 per cent
Custom receipts, S4lS00O.
Assistant treasurer disbursed sl7S,000.
Clearings, sl,OOO,O0O.
Sterling exchange steady; 81 for 90 days
4 SO for sight.
Gold opened at lllH and closed at l1lss.
Rates paid for carrying were az per cent.
borrowing fiat.
Government bonds firm.
Railroad bonds strong.
State securities generally steady; Ten
nessees better.
Transactions on the stock Exchange to-day
aggregated 5000 shares. Of which lSnf0 were
Western Union, 2 co. North weste m, 400 Rock
slsnd, 1900 81. Paul. 900 Lake Shore, and
1900 Michigan Central The maTkes was
firm and generally higher, the advance rang
ing from Z 10 "a per cent, except In The case
ofUnion Pacific, which sold up to 6lH, against
81 at the opening, and cl sing at 81. In final
sales there was a fractional reaction in the
general list from the highest figures OF the
day. Er5a
GENERAL, sTOCKs. rf