Omaha daily bee., 1888-04-08
WEEKLY BUSINESS REVIEW.
The Demand For Moderate Loans
Quite Active.
RATES REMAIN FIRM.
New York Exchange in Light Supply
Stocks Improved But Somewhat
Unsettled-A Good Grain and
Provision Trade.
The Course OF Commerce.

The Course OF Commerce.
| CHICAGO, April 7.-[Special Telegram to
the Bee THE demand for money during
| the week was quite active in a miscellaneous
| way, but no very large sums were wanted
| borrowers experienced no difficulty in OBJ
tanning all the favors requested; but bankers,
in view ofthe unsettled feeling in railroad
| circles, were inclined TO pursue very con-
servative course, and generally insisted on
wide and safe margins with the paper,ao-
| cepted backed by undoubted security Spec
| ulators in grain and provisions made only
| limited REQUESTS as they are not trading bo-
| yond what they can protect by private means.
| The amount Of currency going to the interior
| is smaller than for some time past ship
| pers have Stacked their consignments during
| the embargo on freight business.
AS the season for spring farm work is at
hand there will be less produce forwarded
from farms, temporarily, though parties
storing grain at small stations will no doubt
forward fair quantities. Some money has
been forwarded to the pineries for the pur-
pose of paying off employees at numbering
camps. Wholesale merchants presented
about the usual amount OF paper for discount
and were readily accommodated. Shippers
OF grain and provisions are virtually out Of
the market. Rates of interest are we'll MAIN
tanned at 5@SH per cent; for good names,
backed by undoubted collaterals, while good
to fair names are accepted at 6(4S per cent,
depending on the amount wanted and the
standing of the borrower. Some paper is
| accepted on the street at u very slight reduc-
tion on bankers rates There is a general
Improvement in the Wholesale trade of the
city, and merchants are distributing moro
goods than for some time past.
In eastern financial centers the demand for
money was fair, the supply of loanabc funds
moderate, and interest rates well maintained
at 1908 per cent. Foreign money markets
showed a little more steadiness, owing TO the
largely decreased balances in the leading
banks of England and the continent though
there was no particular change to note in in
| terest rates. New York exchange was in
| light supply during the past week and the
| demand fair. Sales were made at 408T0o
premium per 81 900, and the market closed
| steady at 5O@60c. Foreign exchange was
| offered rather freely during the past week
| owing to rather liberal export of breadstuffs,
| cotton, petroleum and provisions and the
| market was weak The demand was only
fair. Shippers sixty days documentary
| bills on London changed hands at 81. $40
| 4.S6; and closed quiet at Si.S4(44S4A
The New York stock market exhibited
| considerable activity during the week. but
| the feeling was greatly unsettled and prices
| ruled irregular. Early in the week there
| was general desire 10 realize and shorts
We're inclined to enlarge their lines. This
was due to the labor difficulties in connection
| with the irregularty in freights from
| western points and the reported decreased
earnings of many of the leading lines, and
consequently material reduction IN prices
| was submitted to. AT the decline there was
| more inclination to take hold, more es-
| pecially as the strike difficulties were partly
| settled and prices rallied again, though the
| extreme figures reached were not maintained
| to the close. Wall street operators traded
| with considerable freedom and outside
| parties were more inclined to trade owing to
| the frequent fluctuations in prices. Foreign
spectators were fair operators, and during
| the latter part of the week were generally
| on the buying side of the market Sales on
| the New York stock exchange for the week
| aggregated 1880 shares.
| Notwithstanding that the business of the
| week was considerably interrupted by holi-
| days, both IN this country ana Europe, quite
| an active speculative trade was reported in
| the leading grain and provision markets.
The feeling, however, was greatly unsettled
and fluctuations in prices were frequent,
though not partaking of very wide range.
| Uneasiness in commercial and financial Cir
Cles on account of the strike tended to weaken
| the market TO some extent and prices ruled
lower early, but the prospects of curtalled
receipts made the 'shorts' rather anxious to
provide for their outstanding liabilities and
prices were advanced again temporarily.
! eastern railroads and all western
railroads excepting the Burling-
ton caused reaction, and prices
settled back again and the market closed
| rather tame Advices from abroad indicated
an easier feeling in that quarter for both
grain and provisions, and though reductions
IN prices in this country encouraged rather
more buying on export account, receipts of
gr ain at all the principal markets were only
fair, while shipments eastward were moder-
ately free. The export movement of grain
and provisions was fairly well maintained
though not as large in aggregate as at this
| time last year. Crop reports have been
somewhat conflicting relative to winter
grain, and the general impression prevails
that crops are in poorer condition than at
the same time last year.
Farm work in all sections west backward
and seeding is late In the northwest, the
weather has been cold and the ground in
some sections covered with snow, and seed
ing will be delayed eight or ten days or two
weeks. Stocks of grain are gradually dimn-
shng excepting of corn and oats, while there
is not much change in supplies Of provisions.
The packing of hogs in the west is pro-
crossing favorably and the aggregate Is
somewhat in excess of the last season, con-
sequently the reduction in stocks of pro-
visions has been slow. ....