Omaha daily bee., 1888-05-27
WEEKLY BUSINESS REVIEW.
More Money, to Loan But the De-
mand Continues Light.
DULL SPECULATION IN STOCKS
The Produce Market Still Quite Act
ive-sman Spectators Considera-
bly, Sqpeezed-Large Re-
c6ipts OF Live Stock.
RnrkoMers Arc Few.

The BEE.1-Local financial affairs have ex-
bited considerable activity during the past
week. Bankers appeared TO have increased
amounts of money at their command, while
the inquiry for accommodations was fair.
Business in all departments, however, is
gradually improving, and the outlook is
favorable for a good trade during the sum
mer months rather above the average. The
recent advance in the prices of farm pro-
ducts has encouraged more active movement
in these articles and the activity in the
wholesale trade during the past week or two
has been quite marked. TIL amount Of
money going to the interior has increased
slightly, yet is not very large. In some sec
tions the lateness of the season has greatly
interfered with business generally, con-
sequently there has not been the usual de-
mand for money incident to the opening
of spring trade. The active specu-
lative business in grain has created
little demand in that quarter for money
and borrowers have been readily accommo-
dated. Margins have been called with con-
siderable freedom and this feature of trade
has required more money than usual. Ship
pers of grain and provisions were only mod
crate borrowers, and chiefly to bridge. over
temporarily. Lumbermen offered some paper
IUT ulSCUuUJ, Dub bltu uSIldiluS WeTS uUb
pressing. Merchants in the wholesale trade
presented less paper than for some time past,
in fact, they have reduced their indebtedness
to some extent, as they have been enabled to
secure a larger proportion of their collections
in the interior. Interest rates were little
more favorable to borrowers and the regular
customers of the banks succeeded in obtain
ing slight reductions. Round sums were
obtainable at 5@5B per cent on call, while
ordinary paper calling for moderate sums
was accepted at Gas per cent, according to
the standing of the borrower. .
In eastern financial circles money is offered
with considerable freedom, and interest
rates are easier. The demand for money,
however, has not been Urgent and borrowers
experienced no difficulty III securing money
at about their own terms. Interest rates
ranged at 11502 per cent on call, and 400
81 per cent on prime mercantile time
paper.
Advices from foreign money markets in
Dictated that an easier feeling prevailed in
that quarter. Bank balances are gradually
increasing and the demand for money is
light.
New York exchange was in fair supply
and the demand was moderate, sufficient to
absorb the Offerings and maintain a compare
lively steady market. Sales were made at so
@6Oc- premipm per $1,000 and the market
closed Quietht i60c. Foreign exchange was
in fair demand and offerings were light. In
creased shipnepts of gold were required to
pay balances sShippers' sixty-day bills on
London changed hands at S4.S5@I.S5H and
closed firm atSt85H.
The New York stock market attracted
only fair attention and the feeling was I'M
settled and weak during the greater portion
of the time and .affurther material decline in
prices was submitted to. Railroad earnings
are unsatisfactory. Reports of crop damage
have had some effect and there has been
more disposition to close out holdings. There
also was some inclination to enlarge the line
of Shorts and this also had a depressing
effect in a general way. Trading during the
and St. Paul, and. while other stocks
! were neglected., occasional sales indi-
Gated that they sympathized with the
weakness in the market for the leading
properties. Wall street operators were
credited with doing a greater share of bust
ness, outside traders not being inclined to do
much, as their attention was attracted else
where. Foreign spectators purchased spar
ingly. The aggregate rates on the exchange
for the week were 1,3l2,0 900 shares.
Another quite active week was passed a.,
in the leading produce mar..sps- with specu-
lative br@.ae attracting most attention.
/ Local operators were free traders on both
sides of the market and spectators in the
other leading markets also traded with free
dom. But in the place of strength considera-
BILE weakness was developed and n material
reduction in prices submitted to. There was,
no doubt, considerable realizing by the
''long' interest in all markets and also con-
siderable transferring of contracts, Foreign
markets failed to respodd to the appreciation
in prices here while interior sellers of
cash property were more inclined to dispose
of it at the recent advance. Consequently
the receipts were considerably increased,
particularly of corn and oats, while shipment
of all kinds were moderately free and widely
Distribute The decrease reported in sup
plies was not as large as was generally an
ticipated, and this had a weakening influence
also. 1t was limited that some of the largest
operators on the 'long' side of the market
were not favorable of carving the army of
small speculatots, and they allowed the
market to weaken and prices to decline in
order to discourage traders on small margins.
The receipts of grain at seaboard markets
were somewhat larger, but a good share of
shipments from lake ports were destined to
points not included in the visible supply.''
Advices from foreign markets were
not very encouraging and export orders
were smaller than usual. Reports regarding
growing crops were somewhat conflicting
not much change in winter grain and some
little Improvement on the late sown grain.
Provisions not been particularly active,
though prices have averaged slightly higher.
The receipt of live stock is very free, par
ticularly of cattle and sheep. The packing
of the west is not progressing as favorably as
last season, and the increase in the number
of hogs packed gained early in the season has
been lost.