Omaha daily bee., 1888-04-29
S.P. MORSE
WEEKLY BUSINESS REVIEW.
The Demand For Money Shows
Something of al Increase.
LESS USED FOR SPECULATION.
Interest Rates Generally Well Main
tained-New York and Foreign Elk
change in Fair Supply-Stocks
Unusually Active.
LESS USED FOR SPECULATION.
More Money Wanted.


CHICAGO, April 2S~.-[Special Telegram to
the BEE. business around the banks has
presented a little more activity consequent
on the general revival of trade in all
branches. There is no particular increase in
the demand for money, but applications for
accommodations are well distributed along
the various departments of business. Bank
ers are we'll supplied with loanable funds
and borrowers are generally accommodated,
when able to present undoubted security.
The demand from speculative circles was not
quite so urgent. Yet fair amounts of money
were wanted for the placing of margins.
There is also some demand for money to pay
for property to be delivered on May con-
tracts, but parties have generally provided
for emergency deliveries; on May contracts
they will no doubt be liberal, as it is the
season of the year when operators generally
settle up the greater portion of their
outstanding contracts. Besides, it
is usually ABOUT the opening of
the season of lake navigation and the reopen
ing trade with lake ports. Some money is
being forwarded to the interior, though a
good proportion is distributed through COM
mission houses. Grain shippers are borrow
ing very little money at present, and packers
and provision dealers are virtually out of the
market. Wholesale merchants presented
about their usual amount of paper for dis
count, and lumber dealers were making a
little more inquiry for small amounts. Rates
of interest are well supported at 5N@6 per
cent on call and 6GS per cent on time loans,
depending on the amount of money required
and the standing of the borrower.
Money is rather easy in eastern markets
and rates favor borrowers to som extent.
1lnn nrC me- m IN xIytlItRf. IN 1ann Il, .r.-,.. 9
the revival of trade, and rates of interest are
quotable at 2@2H per cent and 4@51& per
cent on prime mercantile time loans. For
eign financial centers show a little life in a
general way and no important changes to
note. Bank balances are gradually ~increas-
ing and interest rates favor borrowers.
New York supply was in moderate supply
during the week and the demand was quite
active. Shippers bills changed hands at ESQ
DOC premium per 81 600 and the market closed
steady at 40@50c. Foreign exchange was in
lighter supply and the demand exhibited
some Improvement. The market was stronger
and prices ruled higher, shippers sixty days
documentary bills on London changed hands
at S4.S4@4.S5l5 and closed steady at S4.S510
1855.
Considerable interest was manifested in
the New York stock market during the
week and the market was active during the
greater portion OF the time. The undertone
TO the market indicated more strength and
prices for all the leading properties ruled
higher. Outside operators were more in
clined TO purchase and orders from Europe
were larger than usual. Wall street opera
tors, too, were inclined to the buying side of
the market. Offerings, however, were
moderately free and mainly from par
ties who desired to realize. The settle
ment Of the greater portion of the
labor troubles in the west, with some i'm
proyement in freights in the southwest, had
a Strengthening influence ON the market in a
general way. The earnings Of the leading
pared with returns for the corresponding
time last year, but it must be remembered