Omaha daily bee., 1889-01-13
WEEKLY BUSINESS REVIEW.
The Demand For Money Not Quite
So Brisk.
Objections ARE VERY FAIR.
New York Exchange Firmcr and
Rates Higher Leading Grain
and Provision Market EXhib-
its Considerable Activity.



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Trade all Over the Country.
CutcAGo, Jan. l~2.-ISpcclal Telegram to
Tn BrE. The yearly settlements, which
created a brisk demand for money last week,
have been closed up, and although there is
still u fair call for loans from merchants and
manufacturers who are generally in the mar.
kct, the demand is not so brisk from outside
sources, The number of new enterprises
starting at present is rather small, hci Q tho
inquiry for financial assistance for that pur.
pose is light. The grain trade is requiring q
moderate amount of money. Packers and
live stock men also absorb considerable
money, but no more than usual at this sea-
son of the year. The country bankers in
some sections are not asking for as many
favors as usual, and in u few in
stances are increasing their balances
here. In other sections, however, where
n demand for money to move
corn and live stock is good, they are sending
in liberal quantities of paper to be redis-
counted. Although the rates at the banks
remain unchanged ut 60GS per cent, the feel
ing is rather easier, and on the street there
is more money seeking investment than for
some time past. This is due to II desire on
the part of capitalists who have received
their scmi-annual dividends and interest pay
mcnts. to rcinvcst them in something that
will pay II fair return. The rates are sac
per cent on collatcrals that can be readily
converted into cash Mortgage loans on
real estate are being freely taken at
sac per cent on desirably located
property, paying a air invest
ment. Deposits are not increasing with
any degree of freedom, but are as good
as the average at this season. Collec-
tons are far and little complaint is heard in
That quarter. The market Tor New York ex-
change was iirmer and rates higher. Tho
dcmand was better, and the offerings rather
light. The sales ranged ut 25rrGOc premium
per $1,000, closing firm at 6Oc. Foreign ex-
change was stronger and higher, there being
only a moderate number of bills offered.
Sales of documentary bills drawn against
shipments TO foreigners were made at S4,S3la
M+.Silg, closing AT $4S4MiS4l!. The iobbing
trade is moderate, and mostly of n hand to
mouth character. Dry goods men are doing
manufacturers and %jobbcrs. and a
firm feeling prevails. On prints
prices are higher. Wooden goods are firm,
stocks of wooden goods are lighter than for
ten days, and manufacturers are unable to
duplicate the present stocks at current
prices. Pig iron is tirmer, but prices are
not quOtably higher.
The New York stock market lacked
animation during the greater part of
the week, and prices for the majority
of the active list underwent no changes of
importance. Inc conference OF Inp fallfOau
managers and bankers, which was called
for Tuesday, resulted in nothing of i'm
portancc being done, and adjournment until
Thursday took place. At the last meeting
efforts We're made to arrange the details
for a more compact agreement, looking
toward the preventing of another out
break of rate cutting like that recently in
dulged in by the Missouri Pacific and Rock
Island on the Pueblo passenger rates. Oper-
tors were 10th to take a decided stand on
either side of the market until after the con-
ference was over, hence the transactions
were small and not of a character to call
forth special comment. Cotton Seed OIL
certificates were sold quite freely on the de-
cision against the sugar trust, the impression
being that it was against al trusts AL
though prices declined rapidly. Il fair re-
covery followed. Missouri Pacific developed
considerable strength and advanced 2l5
points; Milwaukee; Lake Shore ~
tionsss' by advancing "a points. on
the declaration of Il dividend of "a
per cent on preferred stock. The outside
figures were not maintained, however, and q
decline of AZ points resulted. There is a
far amount Of money seeking investment In
bonds, and far activity prevailed in Reading
incomes, Atlantic ~ Pacific As and Chcsa-
peake & Ohio Gs at higher prices. The only
weak point of significance was in the Gulf,
Colorado & Santa Fc 6s, which declined
over 5 per cent. The aggregate transactions
on The New York stock exchange for the
week were 901, 900 shares.
The leading grain ana provision markets
exhibited considerable activity during the
week just closed, though largely in the inter-
est of the local operators. The prevalence
of storms in the different sections of the conn
try-both east and West-interferred some
what with Geographic facilities and checked
trading on outside accounts. The cables also
worked badly, and retarded orders
from that quarter. The weather has been
more scasonable, though rather stormy,
which has interfered somewhat with the
movement of produce TO the interior sta Z
tons. The supplies of grain at the larger
points has been decreased, excepting of corn,
and the stocks of provisions have been some
what enlarged. The receipts of grain were
moderate for the season of the year, and the
shipments rather free. In the way
OF exports considerable corn. flour and
provisions have been forwarded, but the
movement of wheat has been light. Tho
markets were somewhat unsettled, and :
prices iluctuated considerably, particularly
in wheat and provisions. Seeds were in
cllned to quietness with prices favoring the
sellers. The movement of live stock was
moderate at the principal western markets and
rather lighter than for the corresponding
week in lSSS. Farmers have been busy
taking advantage of the recent fine weather
for outdoor work, ard the excellent oppor-
unity for feeding stock, but colder weather
Will no doubt encourage more liberal ship
ments. The packing of the west for the
week shows a further reduction Of 30, 600
hogs, and the deficiency is now reported at
75O, 600 hogs for the season. The qualify,
however, is excellent, ana the increased
weight will partially offset the decrease in