Omaha daily bee., 1889-01-27
WEEKLY BUSINESS REVIEW
The Monetary Situation Practically
Without Change.
INTEREST SURPRISINGLY Low.
Requests for Funds with which 70
Conduct New Enterprises Are
Moderate and Deposits Are
Increasing.
Trade Over the Country.

Trade Over the Country,
Nrw HoRN, Jan, 2G,-Thc monetary sltua.
ton is practically without change from last
week. The demand from merchants, manu-
lecturers and representatives of miscel-
lancous lines of business for loans continues
up TO average at thus date in recent years but
requests for funds with which to conduct
new enterprises are moderate. The ABSORB
ton of money by the grain trade and tho
provision packers is also less than customary
at this time in former years. Money is re-
turning from the interior Quitc freely, much
more 50 in fact than bankers expected at tho
opening of the year. Deposits are also in
crcasing, hence the market is surprisingly
easy for midwintcr, mt 1907 per cent on
call to borrowers on choice convertible coll
~latcrals, and from Gas per cent for gilt edged
business namCs, : per cent being the ruling
figure on choice city paper, and TismS por
cent for outside names. ON the street money
was offered through brokers at > per cent,
and even lower rates would be accepted for
large amounts on strictly gilt edged sccuri-
ties. Money at leading sCaboard cities is
steadily accommodating and rates are easy at
20 ~ per cent on call tor stock and bond
collatcrals. In England the continued pres
sure of funds seeking Investment has caused
II reduction in the Bank of England discount
rate from 4 to ~ per cent, and in the open
market the rate was 2W2i4 per cent. EX-
change on New York was dun, bankers AS a
rule were not disposed to sell at the prices
bid, and buyers did not appear at all anxious
TO pay the prices asked. hence, rates re-
manned steady at par to 2jc premium per
Sl,OOO. Foreign exchange was slow, and
Of bills drawn against shipments TO other
countries Nyprh small trmnr fpnliup. In
vclOped and rates advanced to IA gold ship
ping point, and Sl,0)0,0OO was forwarded
from New York. Shippers documentary
bills on London sold At $iSiiG 0LSl and
closed at the outside figure. Tho
trading in stocks was chiefly IN
spccialtics, the most CONSPICUOUS being
Atchison, st. Paul, Pullman and Delaware
4 Hudson. The liquidation. which has been
n marked feature i'll Atchisop for several
weeks past, was continued on'a liberal scale,
and the price was forced dow j points, to
AS. the lowest during the past ten years.
The October statement was better than ex-
pcctcd, but November was rather the re-
verse. The bear operators were induced by
the unfavorablc statement to specially at
tack this stock, and they used it as n lever
to force down all the rest of the active list.
The trading was the heaviest known, par
ticularly below 80. Boston parties bought
freely, and one foreign house also took
10000 shares in one day. The latter, 1t was
claimed, was to cover short sales, which
showed II handsome pFOUt. inc New YORK
operators also were free buyers, aud tho
holdings of the latter are now over II, 0oL
shares. a rally of over 3 points followed tho
depression, but II was not supported to
the close. Pullman and Delaware &
Hudson acted Independently of the active
list, and advanced while the others declined,
Pullman selling at 1913, the highest on record
and ll$4 points above last weeks closing fig.
urcS. The bulge was on the free purchases
by the insiders, who had information that
negotiations were on foot to Sprlrp control
of all the sleeping car lines of the country.
The announcement Of the Of
trade, however, produced liberal realizing
and "A decline of I3i points followed. Della
ware 81 HUDSON advanced 4 points on the
rumOrs that its dividend would be increased.
Granger stocks, on the whole, were weak.
Northwestern was sold on its statement for
December showing a decrease in its net
earnings of over 10000 St. Paul broke
. points on common and A. on preferred.
The shIinkagc was due to the rumors that
its next dividend on preferred would be-
passed. The rest of the list We're quiet and
without import. The aggregate transactions
on the New York stock exchange for tho
week were |. l39, 900 shares.
The past week has been marked by I'M
usual activity IN produce circles. Speed
latorS traded with more than usual freedom,
though in more deferred deliveries. The
general surroundings of trade were not
particularly favorable to the bear interest,
though opportunity was presented to force
~ w Il " ullEN, anu u was lht Hu-
vantage of. The shorts appeared to concern
trate their efforts on certain articles, more
particularly wheat and provisions, believing
that a moderate reduction III prices would
necessarily bring to the surface considerable
property which was being carried on small
margins or held for customers on stop limit
orders, and that this situation of affairs
would lead % increased depression ana pos
sibly force prices below the natural or ship
ping basis. In their calculations they were
successful, and the prices of
articles went lower than they nave
been reported in several months. Consid-
cradle property held by the long interest
was no doubt disposed of. but the lead
ing operators ana capitalists appeared to
take matters rather cOOlly and held
their property and promptly responded to all
calls for margins made upon them. At the
inside figure reached there was some inclina-
ton 10 purchase, mainly the short interest,
and prices rallied slightly and the market
closed rather steady. The foreign markets
were less favorable to holders and the home
markets were weak and unsettled. Supplies
Of all kinds Of grain are gradually diminish
excepting of corn, and the stocks of pro-
visions exhibit no natural acCumulations at
the principal packing ccntcrs. The move
Incnt of grain 10 the stations and to the prin.
western market has been only nodcr-
ate, and the exports We're light, excepting
Of corn. Provisions are being forwarded
freely both to the domestic and foreign
markets, the shipments to the latter market
exceeding those of the CORRESPONDING time
year. In shipping circles thCro has been
inquiry for all kinds of grain and pro-
visions, the recent decline in prices slightly
orders from the interior points.
The movement of live stock TO the slaughter
ng CGntcrS has been checked TO some extent
ly the recent decline in prices, especially of
logs. A further reduction in prices was sub
10 both on cattle and hogs. The pack
of the west for the week exhibits a de-
,rease of II, 1000 hogs, and the aggregate re-
iuCtiOn since the opening of the scBsOn is
now estimated at $40, 900 hogs, compared
With the returns of last season. to date.
Ives and Stayncr Arrested.
NEW YoRK, Jan. 26.-Hcnry s. ives and
,n,,,, II St.,y,n, 900. ,,,.. al A.. l.- -