Wood River times. [volume] (Hailey, Idaho) 1882-1915, 1888-12-28
THE MONEY MARKET.
Foreign Exchange Easier-The Home
Market Firmer, Owing to the Annual
Shifting Of LOans.-Etc.

Market Firmer, Owing to the Annual
Shifting Of LOaRs.-Etc.
Bradstreet's for week ending De-
cember %: "Activity in stock spec
ulation seems out OF the question for
the moment. The apparent restoration
of western railroad harmony fails to
increase public interests in the
market in the face of the stronger
money market and foreign financial
entanglements. a rise in the lead
ing coal road stocks through the man
ipulation OF pools, though based on
the large earnings of the year, gives,
however. tone and strength to the
general market. Money at New
York is firmer and higher on the
January changes and disbursements.
Call loans 4 per cent. Foreign ex.
change is easier on less urgent for
eign demands for gold and higher
money here. Some sl,5OO,OOO were
shipped during the week. Demand
sterling 4ss4@4ssa. Bank clear
ings at 40 cities, aggregate sl,ll5,-
130,O26, or "a per cent. over last
week and 81 per cent. over the like
week in 1887.
"There has been a growing sense
OF firmness in the New York money
market, though this seems to be more
the result Of the approach of January
l, with its customary financial read
justmen,s, than of any direct pressure
exerted by the European situation.
Some further shipments of gold were,
it is true, announced, though the
general feeling in this respect is that
the advance in rates here will act as
check upon the volume OF the
movement until after the beginning
Of the year at least. The London
money market continues firm, but the
feeling has improved appreciably on
the unexpected absence of immediate
complications growing out of the
Panama collapse, though the si,ua-
ton at Paris has doubtless an in
Hucnce in inducing extreme caution
in London and the other continental
markets. This is of course factor
in connection with our own money
market, and hes it's due effect in in
huencing the attitude Of lenders.
Call loans at the opening of the
week were somewhat easier, and IL
seems that at all times there was
abundance OF such funds. Prepare
tions for the January disbursements
and the resulting shifting Of loans
seem to have had an effect in increas.
ing the demands of stock market Dor
rowers, and it is not altogether
certain that some manipulation was
not rcsorted to to increase the
strength of rates. Rates for bankers
balances on the stock exchange
ranged during the week between 3
and 6 per cent, with the general av-
erage Of loans at between 3 and 4
per cent. The general condition of
the market mi gilt best be described
as disturbed, rates rising on each in
crease of demand and falling off
little when it decreased, the result be-
ing considerable varying in quotations.
Time loans are frmcr, and a per
cent. rate for all short dates seems to
have been established, with 81 per
cent. quoted for six months loans.
Commercial paper is not plentiful, aud
the banks, on the whole, seem to have
some capacity for notes in excess of
the supply. Rates may be quoted at
5@53 for best names and endorsed
bills receivable, with 54@G per cent.
. for single,name paper.
"The acceptances of government
bonds by the Treasury for the week
= amounted to but 1901, $50, being all
\ As, at between $1.OS@$l 0S4. The
tenders at the close of the week were
r for small amounts, principally As, at
: advanced figures. All offers Of bonds
t on Wednesday, Thursday and Friday