Omaha daily bee., 1888-11-04
WEEKLY BUSINESS REVIEW.
An Improved Demand For Loans
From Several Sources.
THE OUTLOOK VERY PROMISING.
General Trade Subordinated to Poii-
tics-Only Moderate Activity In
stocks-Some improvement in
. the Provision Trade. ..
More Money Wanted.


More Money Wanted.
CHICAGO, Nov. 3.-tSpecial Telegram to
The BEE. The chief feature of the money
market since the close of last week was tho
improved demand for loans from grain and
miscellaneous business circles, the former
being partly due to tho monthly settlement
on the board Of trade. In some cases, some
round sums were wanted for special purposes
and borrowers We're readily accommodated.
There is some demand from parties who are
buying wheat at other points to hold through
the winter or convert into flour, and also for
meeting maturing obligations that are usu-
ally larger at this season of the year than
the receipts from collections on cash sales.
Cattle dealers and corn cribbers have also
asked for a little more money. The aggre-
gate offerings OF paper from various sources
were about equal to the ability of the banks
TO accept and interest was rather firm at .
per cent for call loans on fancy collatcrals,
and 6lS@S per cent on thirty days to four
months paper. All previous loans below 8
per cent were raised to that figure or called
in. The outlook for a strong market during
the next SIX months is good, as the channels
for the employment of money promise to
broaden more rapidly than the increase in
the supply. The fact that considerable sums
will be distributed during the first half of
the current month on interest and dividends
due on the 1st inst, really amounts to little,
as corporations having obligations of a slmi-
lar character maturing January |, 1889, will
soon IN to hoard funds for that pur-
pose. Legitimate business interests will also
absorb liberal amounts of money that
will be slow to find their way back
who's they can again be available for dis
counting paper, but while the demand for
money promises to be sufficient to maintain
interest rates on the basis of the figures
quoted above, u material advance or stringent
market is unlikely. In brief, money is likely
TO be firm but not uncomfortably close. Ship
ments of money to the country were up to
recent average. The bulk as usual went to
the wheat sections OF the west and north
west. New York exchange met a better de-
mand, Offerings were light and rates adj
vanced from 5Jc discount to 25c premium per
$1,000. Foreign exchange was quiet with
little variation in prices. shippers 60day
| documentary sterling bills on London were
quoted at Si.s24@Ls2A, and closed on the
outside.
Dry goods and general trade has suffered
from the temporary attention given to poll
tical affairs. Purchases by city and interior
retailers were in the main restricted to tho
goods wanted for immediate sale and no inn
provement is looked for until after the next
week. Collections were moderate, but are
expected to increase when trade becomes
more active.
The New York stock market has shown
modest activity, but the poor exhibit made
by the Atchison, Topeka Il Santa Fe follow
ing as it did the shrinkage In earning Of
| other lines, coupled with rumors of a con-
tinued large decrease in the Philadelphia &
Readings income caused increased distrust
in the value of railway shares. There was
also the absence of outside buying support
and every effort to realize on large blocks Of
l ,aAalra 1p,nn tpNrn rtnhltr nu,tlf Tod -
sharp declines. The situation was
further aggravated by an almost
entire absence of outside buying support, and
room professionals, who, as a rule, are loaded
difficult to prevent further recessions in
prices. Reliable Wall street advices speak
di~scouragingly OF the outlook and predict
lower prices in the near future. Aggregate
sales on the New York stock exchange for
the week ending Friday were 1,015, 600
shares.
Speculative trading in the leading markets,
both grain and provisions, exhibited cousid-
cradle activity since the last weekly review,
yet attention was given mainly to specialties,
operators, as a rule, transferring their con-
tracts ahead as much as possible or combining
their operations to deferred deliveries
where there was the least probability
of q ''squeeze.'' Fluctuations in prices
were more frequent and in some
instances extended through a wider range
than usual. Margins were called with con.
l olit uoiS S'o 10 4 "h NhSo fho ~ q
ing trades for outside parties are inclined to
fortify their position as much as possible and
guard against financial difficulties. In
grain, wheat has been about the only article
which has shown any particular strength,
and outside prices for that article have not
been maintained. Other cereals have shown
a weakening tendency and sold at
lower prices. Provisions were stronger
owing to the meagre supply Of
hogs, and prices ruled higher, but outside
prices were not supported to the close. Re.
ceipts of grain at all the principal western
markets have been moderately free. Deliv-
cries at small stations have been compare
tive light, as farmers are taking advantage
of the mild weather to perform their fall
work. Shipments of grain from lake ports
were moderately free, especially Of corn and
oats. The export movement Of both grain
and provisions is moderate and con-
siderably less than at this time
last year. Deliveries on November
contracts were small, and the property
rendered was readily accepted by we'll
known firms and promptly paid for. The
active, as parties were anxious to enlarge
their supplies in the eastern and middle
states before lake navigation ceases. Seeds
have shown a little activity and prices have
ruled irregular, within a small range. The
receipts of cattle and sheep continue liberal
at all principal western points, but the sup
ply Of hogs is light. Packing for the sum-
mer season shows u reduction Of SAC, 900
hogs as compared with the returns of last
season.