Omaha daily bee., 1888-10-28
WEEKLY BUSINESS REVIEW.
A Steady Demand for Money Which
is Readily Accommodated.
PLENTY OF LOANAeLE FUNDS.
The stock Market Rules Easier on
Smaller Earnings Than Were Elk.
pectcd-A Moderate Increase
in Produce Speculation.
The Demand for Money.

CHICAGO, Oct. g1.-tSpecial Telegram to
THE BEE. The monetary situation has un-
dergone little, III any, change since our last
weekly review. Money has met a steady,
but not urgent demand and the makers Of de.
sirable paper and those who wanted advances
on grain, provisions and other convertible
collaterals, were readily supplied. Occa-
sional loans We're made on cali to gilt-edged
borrowers, who wanted large sums at 5M5ia
per cent. In most cases., however, 6 per cent
was the lowest figure named, and the great
bulk OF transactions were made at q per cent
on call and 1@S per cent on time loans. A
far percentage of the time paper taken was
sent in by country banks, who wanted it re-
discounted. Grain dealers at other points
asked for an average line of advances, and
the demand for assistance from such parties
promises TO materially increase in the near
future, as corn dealers in this and western
states have already commenced cribbing the
new crop, with a view Of holding
until spring. Speculative trading IN
wheat also promises to keep prices above the
legitimate shipping limit, hence the bulk of
the wheat marketed after this date, as well
a majority of that on hand at accommodating
points, is likely to be carried through to
spring. But, while a good demand for money
is promised during the next six or seven
months, and interest rates are likely to ae-
erage higher than the current figures of to-
day, there are few if any indications of an
uncomfortable stringcncy. In fact, the vol
ume of coin and currency in the country is
ample to do all the business likely to de-
velope and at the same time keep rates for
loans within a healthy limit. Shipments of
money to the wheat sections were fair. New
York exchange has been less freely offered
than during the preceding week and rates
have ruled q trific stronger, with sales be-
tween bankers at 50@60c discount per 81 900.
closing at soc. Foreign exchange was quiet
on a basis Of A.s2@4 S21f; for ship
pers sixty days documentary sterling
on London, A.s3llM4.S4 for bankers
bills on the same time. The jobbing trade in
dry goods and miscellaneous lines of mer-
chandise, although strictly confined TO filling
small orders received by mail, was quite
equal to anticipations. Prices were well
maintained for nearly all articles, and sugars
and coffees closed higher.
The New York stock market exhibited a
fair degree Of activity during the past week,
but the great bulk of trading was credited to
Wall street operators. Outside spectators
are timid about taking hold, and foreign
operators inclined to the selling side of the
market. Prices for leading stocks were
rather easy and on the whole range exhibited
a slight reduction. The market was con-
trolled to a great extent by room Traders
and changes were made on slight and unim-
portant influences. The fact that freight
rates have been restored was regarded as a
Strengthening feature, but the reported earn
ings of the leading railroads We're smaller
than was generally anticipated, and this had