The Indiana State sentinel. [volume] (Indianapolis) 1868-1895, 1876-05-03
MONEY AND THE MARKETS.
OFFTCB OF THE INDIANAPOLIS SENTINEL,


OFFICB OF THE INDIANAPOLIS SENTINEL,
TUESDAY EVENING, May 2, 1876.
The reports made by the banks In regard to
local financial affairs for the week ending this
evening present no essential change as COM
pared with the previous week. Money matters
are running along in the anne groove ihout
excitement, and without embarrassments
The demand for loans and discounts Keeps
pace with the ability of the banks, and there
are no surplus funds for te-fying ventures
The market can not be regarded either
stringent or easy-just now 1t occupies
the middle groove. First-class paper is cad
lily accommodated at 10 per cent, but it must
come squarely up to that standard or it has
no chance at the banks, and is thrown upon
the street to take its chances.
Taxpayers are well through with that I'M
pleasant feature Of their affairs and as a con-
sequence checking Is not as brisk when the
tax-gatherer' demands were pressing, and the
deposit side OF the account is bel g enlarged.
All things considered, the local money market
may be regarded as In q healthy condition,
antirthe conservative policy Of the banks is
likely to keep 1t from unpleasant or unprofit-
able departures.
There has been no improvement in the rates
of Eastern exchange. Counter sales being
made at "a premium, while between banks,
sence of Eastern bills currency continues TO
20 forward.
City orders are quotably unchanged and sell
at Sass.
INDIANAPoLIs CLEARING HOUSE.
ClesrIngs. Balances.
For week ending April DIS, 10000 S!0S,0.O
For week ending April 2S.-.- 93l, 100 204,cOo
Tuesday, May 2...............- $4,000 $500
MONEY AT OTHER POINTS.
Cincinnau-The Gazette of to-day says:
Yesterday the local money market was
fairly active. The heavy demand for loans
was not fully met, but depositors in
rood standing obtained a sufficient sup
ply at s@9 per cent. The open market
choice paper was placed at the outside rate on
sccount OF the closeness of the market.
Eastern exchange was In good mercantile de-
mapd and met promptly, but our bankers
were again compelled TO ship currency TO meet
New York-The New York Tribune of
May LIST says: The home money mar.
ket can be quoted as having been a
tile irmer flr the last two or tire
days, and continuing so to-day, a result of the
treasury operations and the preparations for
the payment OF the May interest in the va
rious monetary corporations. To-days bust
was mostly at 81 and per cent, with
some isolated exceptions at higher rates snd
United States securities as collateral, however,
the charge has not been above three. The
the best names being subjected 10 rigid
scrutiny, but buyers are plenty who take such
approved paper at the going caarges-s@5 per
cent for the best.
MONEY AT OTHER POINTS.
NEW YORK MONEY AND STOCK MARKET.
NEW YORK, Monday, May /.
Money 3@4 per cent.
Prime mercantile paper 1906 per cent.
Custom receipts, S276,OOO.
Assistant treasurer disbursed s6S0,0O0.
Qsar1ngs, 81, 100000.
Sterling Exchange is quoted strong at "a S7s<
for 80 days and 81 sg1z for sight.
Gold opened at ll25E and closed ct ll25s.
Rates paid for carrying were made fiat and
i to per cent.
Government bonds steady.
Railroad bonds dull.
State securities quiet.
The week opened with renewed depression
on Stock Exchange and during the morning
there was further decline in values. The
downward movement was assisted by reports
that the New York Central had refused to
accede to the demands of some other TRUNK
lines for tce restoration OF the old tariff on
a frei zhts, and this was construed into meaning
railroad war and possibly lower passenger
fares ana freight rates in the future. Confiict-
ing reports about Commodore Vanderbi e.
health sl-o had an Influence on the market.
The greatest decline was in New York Central,
which, after remaining firm for some time
past at ll2% and upwards, to-day suddenly
declined TO los a much larger business
than usual TINS decline In the Central ex-
ercised an unsettltug influence OF the general
share list. Lake Shore oIlowed with decline
from $50 TO o1k: North western from al to 40
Michigan Central from 49, TO 49,, and
Western Union from so to 6ssS Towards
O'Clock a steadier feeling sci in, and New York
Central suddenly advanced from los to lI2L
which sunente the whole market. During
the last nour the market was drmer and
prices generally advanced, but in the hna
sales he was q reaction in some Cases Of Il
30 "a per cent
transactions on Stock Exchange to-dsy
aggregated $4,000 shares, OF which 1890 were
Pacific Mail; 81, o. Western Union; 1900
tnwestern; i3OOO st. Paul: 5000 Erie:
5000 Lake shore; 1000 New York Central !
500, Ohios, and 1900 Michigan Central.
CONVENIENT SECURITIES.