Omaha daily bee., 1888-02-12
WEEKLY BUSINESS REVIEW.
Chicago Bankers Well Supplied
With Loanable Funds.
uNDoUBTED SECURITY REQUIRED
Packers Borrowing Considerably Less
Money Than Usual at This Sea-
son of the Year-Quality
of Hogs Poor.


CHICAGO, Feb. 1l.-[Special Telegram to
the BEE. Bankers are apparently well sup
piled with loanable funds and street brokers
have more money than usual for the accommo-
dation of borrowers. Managers of the lead
ing banking institutions. however, are dis
posed to pursue very conservative course
and are very careful in placing their funds,
requiring undoubted collaterals or excellent
names and at the same time on safe margins.
Among board Of trade operators there is lit
tie demand for money at present. Specula-
tors are not extending their operations be-
yond their private means, and what little as
sistance they need is readily obtained Pack
ers, too, are doing only q moderate business
and require very little money at present, con-
siderably less than usual at this season Of the
year. There is some money being forwarded
to interior points for the movement Of grain
and live stock, with fair proportion through
the hands Of commission merchants. Some
money is being placed in warehouse receipts
in some of the larger cities of the west on
rather wide margins and good rates of inter-
est The wholesale merchants are not quite
as pressing as they were some time ago The
deposits of country banks are slightly in
creasing, but chiefly in sections where farm
ers have been selling their products quite
freely. Rates of interest show little change
rather more favorable to borrowers. Loans
on good paper command 6(d7 per cent, mainly
at the inside figure. Occasional loans are
made on choice collateral and gilt-edge
names at 5M5l5 per cent, but these are eXcep-
tional Some paper is accepted on the street
at these figures. In eastern financial centers
money is graduallyworking easier and bankers
now are in a position to accommodate all good
parties with all the financial assistance they
need. Rates Of interest range at 4@5 per
cent on prime mercantile papers, with call
loans at still lower figures Considering the
fact that about $40 OOO, 600 Of railroad bonds
have been placed on the market since the be-
ginning of the year, there appears to be no
particular stringency in the money
market in any part OF the country.
Financial affairs in European markets, too,
are apparently in an easy position. The po-
litical situation is regarded with more
peaceful outlook and there is little inclina-
tion to enlarge all branches of trade, Money
is plenty and rates Of interest extremely low.
New York exchange was in fair demand
throughout the week and offerings were not
large. Sales between banks were made at
par@25 cents per Il, 600 and the makct closed
steady at 25 cents premium. Foreign ex-
change was inclined to quietness curing the
past week. The demand was limited and
offers of shippers sixty-days documentary
bills on London We're fair. Prices ruled
easier, with sales at 81 S2ld4.S2 and closed
at 81 S2i1Ca4 s2l5 Stocks in New York were
only moderately active throughout the week
just closed An easy feeling prevailed and
prices for the leading properties were more
favorable to buyers There was no particu-
lar pressure to sell and the demand was some
what limited. Wall street operators traded
moderately, but outside spectators held off
the market. Foreign operators We're not in
cined to do much trading, and the advices
from that quarter were unfavorable to sellers
The earnings of the leading railroads are
gradually decreasing, and the unsettled feel
| ing and the unusual cutting Of freight rates
! in all quarters will undoubtedly tend TO
| further diminish their business and available
| means. Under these circumstances spccula-
| tors are disposed to hold aloof from the stock
| market and devote their time and money to
| speculations in other articles. The aggregate
sales on the New York stock exchange for
| the week were ISL, 900 shares. Speculative
| trading exhibited considerable activity dur
| lng the week Just closed-more than for