Wood River times. [volume] (Hailey, Idaho) 1882-1915, 1888-04-14
THE HONEY MARKET.
1t Continues Healthy, but Appears Liza.
Bile to Change for Better or Worse.

~ Ov"''uueS HcAiSuys Dut appears Lila.
bic to Change for Better or Worse.
Bradstreet's, 9TH: "Funds do not
show signs of increasing stringency
at leading financial centers with few
exceptions, and rates on call and time
are not materially changed. Our total
Of bank clearings of 80 cities for
March (ss,747,253.ooO is 10 per
cent. less than last year, 10 per cent.
less than In 1886, and "a per cent.
greater than in 1885. At New York
the March decline was relatively
greater-16 per cent. against 1887,
and Is per cent. against 1886. The
increase over 1885 was Is per cent.
"The slight disturbance of the
market, due to the disbursements and
settlements at April l, seems to have
passed without any great commotion
and with only a little temporary
hardening in the rates for call money
in the New York market, and quota
tions in the latter part Of the week
were back to the recent level for that
class of loans, the squirt in the stock
market apparently making little diff
ference. At the same time, there is
continuance of the close feeling
aInong lenders in regard to putting
out money for any time. To some
extent more favorable feeling was
created by the passage of the bond
purchase bill by the Senate, but
would seem, indeed, that while there
is no undue apprehension, the banks
are SO largely doing business on the
government deposits that caution in
making anything but call loans is a
necessity of the situation. Rates for
bankers balances on call on the Stock
Exchange in the early part of the
week ranged between "a and 4 per
cent; but Wednesday the market had
eased down to 2@2t per cent, the
latter being about the average rate.
Some time money was offered, princi-
pally for out.of- town lenders and
trust companies, rates being quoted
at 4@43 per cent. Commercial
paper is very dull, with marked in
disposition to buy except on the part
Of country banks, rates being firmly
held at 5a@6 per cent. for best names
and Endorsed bills receivable.
"The receipts of the United States
Treasury for the week ending April
5, as specially reported to Bradstreet's,
amount to s5,2l7,Ss5. TIE avail.
able balance has increased 81, 9S5, $780,
80. The balances in the depository
banks decreased 1921 ,O7O,27, and are
now s55,267,674,l2. Bonds deposi.
ted to secure circulation amounted to
$4,000, while $62,50O were with
drawn"
r. G. Dun s. Co. say " None
tary anxiety is to great extent re-.
lieved. April payments caused no
pinch money markets, rather close
at but few points, are nowhere ser.
iously embarrassed foreign exchaEge
is lower, with no sign of demand for
money from abroad. Though the
Bond Purchase Bill, as it passed the
Senate, may not be approved, it as
sures the President of ample power,
and purchases will therefore be made
in case of necessity. Prices, after
three months of remarkable steadi-
ness, were lifted by a variety Of
speculations rapidly, but show weak
ness again the general level is now
less than three.quarters Of one per
cent. above that Of January LIST, with
improvement in farm products made
scarce by last years drought, but
general decline in manufactured pro-
ducts. The Treasury increased its
balances about $l0,O0O,O00 in March
without causing pressure for the
past week it has taken in a million
and half, while adding 100000 to
bank deposits. Whatever it may be
later, the monetary supply is now a
cause of difficulty"