Omaha daily bee., 1888-05-13
WEEKLY BUSINESS REVIEW.
No Important Change to Chronicle
in Money Affairs.
BANKERS SUPPLIED WITH FUNDS
Interest Rates steady-Gold Being
Sent TO European Interesting
Stock Market--Brisk Specu-
lations in Provisions.
The Money nInrl.nts

CHICAGO, May Especial Telegram TO
The Bee. Local monetary affairs exhibited
no important features during the week Just
| closed. There is no particularly pressing de-
mand for money from any quarter and bank
| ers are well supplied with loanable funds
| The market remains in comparatively
| steady condition, and parties who are able to
present undoubted security experience no
| difficulty whatever In obtaining all the ac-
commodations required. There is very little
money being forwarded to the interior at
present, as business In farmieg sections is
| retarded to some extent by the unreasonable
weather Farmers have been delayed in
their seeding operations, and are now busly
engaged in their spring work. consequently
dealers in the product at small stations have
very little farm products offered them.
Speculative trad ing has improved some
what and there has been
little more demand for moneg to margin out
standing trades. Merchants in the wholesale
mercantile trade have presented considerable
paper for rdiscount-about the average amount
and succeeded IN obtaining all the favors
requested Shippers Of grain and provisions
have borrowed very little money, and their
claims on banking institutions will probably
be moderate for some time to come Lum-
DN''i'SH "'S poiioNiHS w SOnlc eNJSUU, DuU
their demands are not pressing The settle
ment of business affairs incident to this sea
son of the year has required some little
money, but this inquiry has about disap-
peared. Rates of interest are reported steady
at Gas per cent, with an occasional round
sum placed on call at 81 per cent Collec-
tions are little slow.
In eastern financial centers the demand for
money continues active and the supply is lib
eral The sales of bonds have tended to re-
lease considerable money Interest rates are
easy at llg(d2 per cent for mercantile time
paper. Advices from foreign money markets
indicated stronger feeling in that quarter
Withdrawals from the Bank of England dur
ing the week were quite liberal and that in
stitution advanced its discount rate to 3 per
cent. Money in other foreign countries also
was steadler, though the demand was COM
paratively light. Balances in the Bank of
France and the Bank of Germany have been
slightly increased.
New York exchange was in moderate sup
ply and the demand was fairly active. Sales
were made at 40(G60c premium for $4,000
and closed steady at 500p60c. For
elgn S;gh. exchange s,t,,,1 WAS was in comparatively
owing to the curtalled exports of breadstuff,
etc, and the demand was quite active Ship
pers' sixty days documentary bills on Lon
don changed hands at s4.S4s4614 S519, ana
closed steady at 81. .S5tdD4 S54. Gold is being
forwarded to Europe.
The New York stock market attracted
considerable speculative attention during the
week, though trading in the aggregate was
lighter than during the week previous. The
early market showed a little more strength
in a general way and prices for most of the
leading properties showed some improve
ment During the latter part of the week
there was more desire to realize and a weaker
feeling was developed. accompanied with a
material reduction in prices The reduction
IN the dividends of the Pennsylvania and
Chicago, Burlington Quincy roads has had
some effect on the market and leads
to the impression that other roads
may follow suit. Foreign operators were
less inclined to take hold and outside oper-
ators were not disposed to purchase to any
extent Wall street operators were moder-
ate traders and watched the market closely,
accepting small losses or profits Sales on
the New York stock exchange for the week
aggregated 1852, 900 shares.
Considerable interest was manifested in
the produce markets during the week and
speculative trading was quite brisk at times.
In general way the market showed consid- |
cradle strength, yet the feeling was nervous
and unsettled and prices fluctuated rather |
wildly, though confined within compara-
lively limited range. In grain, wheat was |
the center of attraction owing to the report |
of damage to the crop, and other cereals !
sympathized to some extent with the firm |
ness in that article and also were influenced |
in a general way by the lateness of the sea
son and the supplies on hand. Re- |
celpts OF grain have been somewhat |
aaa lighter orIot. in all ,i,a the PprFncpa west,
moderately free, especially from lake points
Arrivals at seaboard markets were moderate |
but supplies will be enlarged materially when |
the grain from the large lake fleet is distrib- |
uted throughout that section. 1t is under
stood that u fair proportion of the recent |
shipment was destined for the smaller mar
kets of New England and the middle states
The export movement was rather light as eX-
p0rters are not inclined TO purchase very
freely at the recent advance in prices. Most |
of the grain now being forwarded was
shipped from western markets on through
bills of ladlng and at reduced rates of freight
The curtailment in the export business in the
face of unusually low rates of ocean freights
and the export of gold is an encouraging |
feature of this trade. The weather in the
west has not been particularly favorable for
farming during the past week from rather
seeding is progressing slowly, though season |
is considerably late. Stocks of grain are |
gradually decreasing excepting Of corn and |
oats and the prospects are favorable that |
supplies will be reduced quite low before the |
new crops are matured and secured Ad- |
vices from abroad have not been very en-
couraging to holders, though the effect of the
strength manifested has been reflected to |
some extent by the Steadness IN that quar-
ter. Provisions have shown some strength
in sympathy with grain and liberal ship
ments of all kinds and prices ruled higher |
and outside buyers were fully supported to
the close. Arrivals Of live stock at all west |
ern markets have been moderately free. The |
packing of hogs in the west is progressing |
favorably.
Delicious Maple Sugar.
American Confectioner: 1t is not
generally known, but it is fact,
that piItSburp is abOut the |