Omaha daily bee., 1888-06-24
WEEKLY BUSINESS. REVIEW.
Small Sums of Money Continue in
Moderate Request.
INTEREST RATES REMAIN FIRM.
New York Exchange Rules Weak
With Only a Moderate Demand
Stocks More Active-Producc
Speculation Nervous.


sun Ntuicf.
QCHcAGo, June 22.-fSpecial Telegram TO
TnE BEE. Local financial affairs remain in
about the same condition as noted for some
time past. Banks are well supplied with
loanable funds, and the demand Tor money
from all sources was fairly active, though ap-
parently no very large sums were wanted.
Owing TO the influx of visitors to the city,
trade in all departments has been active, es.
pecially. among Wholesale merchants The
movement of currency to the interior was
moderately large, though not as free as dur
ing the last three weeks, as receipts of grain
and livestock were not as liberal. Commis-
sion houses forwarded considerable money to
their customers in some sections, and re-
ceived fair amounts in return from Others
Speculative trading was fairly active, and
attended with some excitement at times, but
operators were only moderate bor-
rowcrs and chiefly in the way
of placing margins. Shippers of
grain and provisions seek very few favors
from bankers and packers are virtually out
of the market. Lumber merchants presented
very little paper for discount and were
readily accommodated. Wholesale mer-
chants were not disposed to borrow much
money, as they are not increasing their sup.
good. Rates of interest are well supported
at 5@5l% per cent on call and 5l50DT per cent
on time paper In eastern markets the sup
ply continues LIBERAL more than the usual
supply seeking investment. Interest rates
are lower at l@1k per cent on call and 31(C0
5 per cent on mercantile time paper. Advices
from European financial centres indicate au
easy feeling in monetary affairs Bank bal
anccs arc still enlarging and money is Offered
by bankers at very low rates of interest.
New York exchange was in better supply
during the past week and the de-
mand was moderate, the market was
weaker and prices declined. Early sales
were made at 25c premium per 81 900, but
later in the week shippers bills changed
hands at par to 25c discount and the market
closed quiet. Foreign exchange was inclined
to quietness and the market exhibited very
little change. The offerings were light and
the demand somewhat limited. Shippers
sixty day bills on London changed hands at
Skst@i.e594, and closed steady at 81. S5GQ
1891.
The New York stock market exhibited
some activity during the week, and the feel
ing was stronger in II general way. Prices
have improved somewhat on leading proper
ties, though the extreme figures reached
were not fully supported. The earnings of
principal railroads were a little more salts
factory and operators claim crops are more
promising, owing to more favorable weather
The shorts" too, We're inclined to purchase
to some extent to provide for outstanding
contracts. Wall street operators we've the
principal buyers. Foreign spectators traded
moderately but Western operators We're not
inclined to do much. Trading during the
week was largely in specaltics The aggre-
gate sales on the New York stock exchange
for the week We're 100000 shares.
Considerable interest was manifested in
Ilt ,lgnt
but the feeling was unsettled and nervous
during the greater portion OF the time, ac-
companied with rather moro than the usual
irregularity in prices. The record of the
weeks trade indicates that the bear interests
have virtually had control of the situation,
and lower prices were reached than for
some weeks past. Under the influence of
very good weather for growing crops, and
rather unfavorable advices from foreign
markets, and a general .slackening In the
shipping demand, there has been little
more pressure to sell grain of all kinds
for future delivery ana corresponding slack
cning in the demand. The trading was
chiefly done by local operators, orders from
the outside being light. The receipts of grain
have not been quite as large as during the
previous two or three weeks, but this had
very little effect in general way, as ship
ncnts also have decreased The export
movement was only fair and the receipts al
q. the scaboard were somewhat enlarged. Tho
visible supply of wheat and barley has de-
creased, while supplies of corn, oats and rye
were somewhat enlarged. The approach of
harvest time with rather favorable reports
in distant sections, had weakening
influence on the course of the market. Crop
reports from abroad are not quite so encour-
agins, though Il chief complaint is the back.
wardncss of the season and rather slow
growth. Supplies abroad are gradually de.
creasng. Provisions have sympathized to
some extent with the weakness in the grain
market and lower prices were accepted for
the leading speculative articles. Arrivals OF
live stock were moderately free at all west
ern points The packing Of the west SHOWS
little change, about the average change
about the average number of hogs being
slaughtered at the principal points.