The Indiana State sentinel. [volume] (Indianapolis) 1868-1895, 1876-06-14
MONEY AND THE MARKETS.
OFFICE OF THE INDIANAPOLIS SENTINEL,

OFFICE OF THE INDIANAPOLIS SENTINEL,
TUESDAY EVENING, June 13, Is76.
The local money market is steadily working
into a condition of greater ease Currency is
accura ulationg In the vaults of the banks ana
there is no difficulty whatever to place strictly
No. paper at 10 per cent. inteTes' In Is ct
loans for short time TO g1lt-edged names could
be made at low rates.
Money brokers continue to report good de-
mand for money in the outside market, and
transactions are made at l1z92 per cent. a
month
Eastern exchange is in large supply and the
rate between banks is Tar, and county sales
are made at 10. Probabilities favor lower rates
At an early day.
City orders are dull at 90 cents on the dollar.
INDIANAPOLIS CLEARING HOUSE.
Cearings Balances
For weeks ending June IO.-s4,6 i3,OO0 s1,169lO
Monday, June 5000 sou
Tuesday June IS.....................22l, 40 500
MONEY AT OTHER POINT.
New YoRK.-The Commercial Bulletin Of
Monday says: Wall street very dull. Money
2a2% PER cent. for call loans and 4@i per cent.
for prime mercantile paper. The bank state
ment showed reduction in surplus reserve
of s374675 the DanKs gained 5! ,293 so legal ten
ders and lost IL NO specie. United states
bonds were firm and speculative shares irreg-
ar
Foreign exchange dull and nominal.
CHIGAGo.-The Inter-Ocean of Monday says:
In this market there has been a fair specula-
tive demand for money in connection with
the recent atvance in wheat, but there is still
SO large surplus of unemployed funds that
money can be had in the open market on good
coliaterals or prime paper at per cent. tot per
cent. per annum.
ST. LOUIS The Globe-Demecrat of Monday
says: Funds continue to be in large supply,
making discount rates easy enough to all good
borrowers. City deposits were about equal
with those OF last week, but checking showed
some falling off. Private capital was
abundant, as usual, but with few calls. The de-
mand for city and st. Louis county securi-
lies was steady, but offerings were limited.
Interior county bond were quiet, but state
bonds continue in great favor. To-day the
fond commissioners, at Jeffe son City, award
ed to Kohn & Co. zoo bonds of ST. 90 each. they
the highest ever offered before for state bonds.
KOhu & 20. represented st. Louis capitalists.
The bonds were SIX per cents, redee nable in
five years. at plea uTe of the state, payable
in twenty years. AS the range of securities
now for inves ment purposes is limited, there
is better inquiry for government bonds Ap-
parently, some holders of capital are tired OF
carrying IDLE money, and are, therefore, now
willing TO paw prem um for governments, for
the sake of earRing interests.
NEW YORK MONEY AND STOCK MARKET.
NEW YORK, Monday, June IL.
Money easy at 2@3 per cent.
Prime mercantile paper COZ per cent.
Custom receipts, $4,000.
Assistant treasurer disbursed $4,000.
Clearings, s23,OOO,0O0.
Sterling exchange steady at 4 81 for so days
and S91z for sight.
Gold opened and closed at 1925, with sales
at ll2%.
Rates p7id for borrowing were l@2 per cent
Loans also sde fat.
Rates paid for carrying were from to per
cent.
Government firm.
Railroad bonds firm, especially for ST. Paul,
which rose 10 1881 tor Lacrosse Division and
80 for canal sinkicg funds.
State securities quiet. Missouri long 6's
arm.
The week opened with a general depreSs' o n
In the share list on the Stock Exchange. Prices
declined "A to Der cent, and The market was
dull for the most part, but after midday there
was more pressure 10 SILL. The greatest de-
cline was in New YorK Central, which fell of
from lbs 10 lO5 There were apparently no
ders on the market to suStain the stock, as of
late, and the decline attracted much attention
and exercised an unfavorable influence on the
remand. of the list. The further cutting of
westward-bound fret hts and the reduction in
passenger ares Dy the Grand Trunk To s12 TO
Chicago were the chief causes of the decline.
WABASH dec ined from Ia to 81. After the
second calI the mark ct was we ak at the lowest
prices OF the day, Dut during the last hour
stocks were irregular, some shares closing at
the lowest pom OF the day, and others show
clfned from 6s11 70 oS regular, and to 67s6 seller
81 days. AT the close sales were made at 6Tzg
e7zs regular.
aggregated 81 .0n0 shares of which ITO o were
Pacific Mail, 1900 Western Union, 7,00 st.
Paul, 5000 Erie, Il, 900 Lake Shore, S,C00 Ohios
and 5000 Michigan Central.
CONVENIENT SECURITIES.