The Indiana State sentinel. [volume] (Indianapolis) 1868-1895, 1876-06-07
mONEY AND THE Markets.
OFFICE OF THE INpIANAPoLIsS SENTINEL.
INDIANAPOLIS


Since the date of our last weekly review of
"Money and the Markets" nothingof special
importance has transpired in financial circles
The currency currents are flowing smoothly
and those who can offer unexceptionable pa
per or collateraIs, obtain accommodations
without delay. Lenders are examining paper
personally, with more than ordinary care, as
the times warrant great prudence in the
transaction OF business, but were assured
that money is abundant to meet
the demands of the legitimate trade
and that those no own the banks are not
pushed to the wall is sufficiently demonstrated
by the fact that within day or two past
merchant called uron a bank to renew some
paper, about $50 roo, for O. days. There was no
trouble about the renewal, except that four
months was preferred 10 The time required
The rate of interest is 10 per cent, but short
time gllt-edged paper could be placed at lower
rates.
In the outside market where paper not bank
able naturally drifts, private capitalists OBJ
tain from l1l@2 per cent. a month with good
security.
Eastern exchange is quoted al par be- ween
banks, end lilo TO &c premium for counter
sales. Country banks are supplied at par.
City orders are In better demand at 80 cents
on the dollar.
INDIANAPOLIS CLEARING HOUSE.
~ 4, Gs e 610 BaI Ian sss
For he W Elk ending May % l,0l0,0O0 2 $500
For the week O. ding May ~, $4,000 $4,000
For the week ending June 81 ,239O00 25O.sO
Monday, June 5...........-.....--. 800 $4,000
TUESDAY, June 6..... NJ,O.O 800
MONEY AT OTHER POINTS.
NEW YoRK.-Tbe Commercial Bulletin OF
the 5th rays: The Wall street markets con-
tinue cub, although at the Stock Exchange
was not so firm, and ruled at li2z091ls5z clos
ing at l2k. Little was done in foreign ex-
change, and the closing rates were on the
ers' steIliIg z. There was further advance in
United states bonds on the purchases of banks
and insurance and trust companies
Speculative shares, notwithstanding the
knOwl' dge that the railroad and
telegraph wars are bsing pressed to ruinous
tected by these was having been strong as
wei as those not affected BY them, Ike the
more business and at paying rates. In respect
of Western Union Tele graph stock, 10 is proper
to say that tAsere are continued heavy pur-
chases on 10th 'lOng" and 7sh0rt account, on
reports that in the early part of next week the
directors will meet and declare 2 per cent. div
idend, accompanied by a statement showina
that, although rates have been largely rel
duced, the company can afford TO pay the div!
idend. Tee public will perhaps not under
sufficient TO practically close out the short
interest" in the stock. The bank statement is
q very favorable exhibit, 1t showing that the
surplus ress rye has been raised to 81 F45s $50.
and that the New York banks again hold over
100000 l. gal tender notes. Currency cor
tinues 70 accumula here, and, as we have
often written since the turn early in April OF
the currency movement IN favor of New York,
there's every reason 10 look for an extremely
easy money market up 10 at least the middle
of september.
CHIcAGo.-The Times of Monday says: No
new developments were reported in the local
monetary situation on Saturday. The activity
exhibited since the opening of the new month
was well mainf aimed, and though the calls
from borrowers were doubtless smaller than
might be expected, the banks enjoyed a toler- |
ably busy day. General busin ess, at least. was
Qnige satisfactory, and as the indications point
10 "a period of considerable life before the ac- |
vent of the dull summer season, a rather |
hopeful feeling prevailed. The. disposition |
shoVn to complain, however, was less positive |
and general than during the closing weeks OF |
the past month, and with agreeable weather |
for farmers 10 market their surplus grain and |
produce and interior merchants to push |
trade, the banks are likely to close the first |
half of the Centennial year in a bel ter condi- |
ton, so far as earnings are concerned, than
the outlook promised short time ago. Just
Saturday time loans were quoted In regular
bank circles at las per cent.
The exports of gold and silver from the port
OF New York since July /, 1875, are as fol-