Omaha daily bee., 1888-10-14
WEEKLY BUSINESS REVIEW.
An Increased Demand For Money
From Various Sources.
EXCHANGE IN FAIR REQUEST.
A Slight Falling on in the JobbinE
Trade stock Moderately Active
But Nervous-Grain Specula-
ton Quite Brisk.
EXCHANGE IN FAIR REQUEST.
Condition OF Trade in the East.

CONDITION OF Trade in the East.
CHICAGO, Oct. 10 Special Telegram 10
THE BEE. The important features of the
money market during the week were an in
creased demand from nearly all classes Of
borrowers and a decidedly firmer feeling in
interest rates. Calls from grain operators,
both in this city and nj other leading west
crn financial %Ccutcrs, where liberal quaint
ties Of grain are being handled, were good.
Large shipments of currency were also made
to grain and live stock districts TO bring
grain and stock to market. There was also
an increased demand from parties who are
preparing to crib corn and feed cattle during
the winter, aud a larger amount of their pa
per was offered at banks than at any previ.
GUS time this season. Merchants and manu-
facturCrs also made liberal inquiries for
loans with which to meet maturing obliva-
tons, and also to purchase new sup
plies to replcnish stocks. Despite the
fact that the secretary of the treasury
has disburscd $50, 600, 600 by the purchase
of bonds since the Eth of April last. There
appears to be no surplus of funds, and, al
though bankers have been able to meet all
calls made on them, they are becoming more
conservative in making loans. Interest rates
ranged sac per cent on call, a very few loans
''Aht iAAa''AN ~ WV l7l't' VII UNIV 'ah " a
M119 per cent and occasionally 5 per cent was
obtained. New York exchange was in fair
demand with steady sales, ranging at GOA iOc
discount per 81 900. Foreign exchange was
steadier and a shade higher, owing to the
lighter offerings of bills. Documentary
sterling on London sold at "a. s2@4.s 2i4.
The 1obbing trade in dry goods, while not
so active, was of a liberal volume. Millinery,
clothing and collateral lines were fairly
.,,,,- - -
freely, but no important changes in prices
were witnessed.
The market for railway shares was fairly
active but nervous, and advances and de
clines followed each other in quick success
sion. The disturbing features were the re
cent advance in rates for money in London
to Il point where ii is Improbable to carry
stocks there at present figures, making IL
more expensive TO carry stocks in London
than in New York. London operators were
fair sellers early in the week, but buyers
later. But foreign operators as Il whole did
not trade with their accustomed freedom,
and the market was left chiefly 10 the pro
fcssiOnals, who manifested an increased dis
position to realize profits. Their confidence
has been shaken to some extent by the re
duction in the Atchison dlvi-
dend. The subsequent heavy realizing
of holders in that stock in Boston
and n decline of II points started IA general
realizing movement in New England and
other stocks that have been considerably in
tiated of late, and sharp declines were sub
mittcd to but were followed by fair advances.
The granger roads received fair attention.
The feeling of confidence that existed / at the
close OF the week over the fact that the
passenger rate difficulties had
been adjusted was in IA measure dissipated
by the withdrawal of Wisconsin Central
from the Passenger assoCia-
ton, and another rate war is imminent. Coal
stocks were fairly active. Several of the
leading southern securities were traded in
fairly, but no important changes occurred.
Earnings are not rs satisfactory as generally
expected. The sales on the New York ex-
change for the week were ] ESQ. 906 shares.
Speculative trading was again quite brisk
III the grain markets, especially in wheat and
corn, while provisions attracted somewhat
less attention than during the week previous.
An unsettled feeling prevailed generally and
prices fiuctuated wildly in the grain markets,
while in provisions there was considerable
manifested and a lower range of prices sub
mltted TO. Operators as q lule are Ccntering
their business in more deferred futures
more conservative, three to six months ahead
thus avoiding as much as possible the dan
ger of a squeeze While margins have
been called with considerable freedom there
has not been quite so much pressure as dur
ing the week previous, and the probabilities
are that there is now less money placed TO
secure contracts than at the opening of the
month. The shipping branch of trade
has exhibited considerable life as parties
were anxious to move their property at pres
ent rates of freight and place it in eastern
markets before the close of lake navigation.
The receipts of gram at the principal west
ern points were quite liberal, and shipments
moderately free. The export movement in
grain was light and in provisions only fair,
the scarcity of tonnage checking business.
Domestic markets have shown more than
usual unsteadiness and reports from abroad
were less favorable to buyers.
Prices of grain were lower early
in the week but exhibited some
improvement near the close. Seeds were
stronger, and in some cases slightly advanced
prices were obtained. The receipts Of live
stock in the principal western markets are
gradually increasing both in number and
quality. The packing of the west is pro-
crossing favorably and rather larger now
than at this time last year, though showing a
liberal decrease since the opening Of the
summer season.