Omaha daily bee., 1889-01-20
WEEKLY BUSINESS REVIEW
Bank Business About Up to Recent
Averages,
MILD WEATHER KNOCKS WOODEN
Groceries Have Sold wcIl-A Modcr-
ate Trade In tron-Packing
For the Week Shows
an Increase.
aILD WEATHER KNOCKS WOODEN
Trade All Over tho Country.

Trade All Over the Country.
CHICAGO, Jan. n-ISpccial Telegram 10
TnE BEE. Tho chief features in tn. none.
tary affairs during the week was the in
creased volume of money seeking investment
in the way of collateral loans, and u CORES.
ponding dcceasc OF borrowers who had satis-
factory security TO offer. The bulk of the
offerings either came from parties who had
received them from dividends or In payment
OF loans, and failing to find other employ.
ment, they were offering money freely
through brokers ut j per cent. The business
ut the banks was about up TO the recent
average, but funds were in ample supply for
the demand, aud rates were easy TO desirable
customers ut q per cont for collateral loans
and 6LWS per cent for business names, 6lsO
. per cent being the ruling figures for choice
paper. The demand, as usual of late, was
from all classes of Boston borrowers, local
and western provision packers being
fairly represented. The merchants who are
buying goods for the spring trade were also
average borrowers, aud moderate requests
came from parties who are crIbbing corn in
the interior and selling it here for MAY and
June delivery. There is, however, less than
the customary call for advances on grain on
any kind in the Chicago elevators, due TO the
fact that the shipments respond too closely
to the receipts to prevent any material ac-
emulation. New York exchange early in
the week was in light supply and sold readily,
and rates advanced TO 60c premium, but
Ia on weakened and closed ut par. Foreign
exchange remained quiet and firm. Ship
pers' documentary bills on London opened ut
S4.S4@i .sll2, closing at $4.s14mi.Sli3.
The iobbing trade in dry goods has been
GlA.. A.l ,A,.l. -
to piece out retailers stocks with such
goods as they are compelled To order,
but the tone of the market was firm for all
classes except heavy w~oolens, the sales of
which have been lesscncd by the heavy win
ter. Heavy clothing and rubber go DDS have
suffered from the same cause.
Groceries have sold well, and a moderate
trade was reported in iron and other metals.
The important features in New York stock
circles during the week beside the increased
volume of trading was the increased attacks
made by the bears on Gas trusts. the Cotton
Oil trust, and Atchison. The selling of the
latter was on u passing of its dividend.
Pointers as to the probable action of the di-
rectorS were given out several DAYS before
the meeting, and the effect had been about
discounted when the announcement occurred.
Cotton Oils attracted increased attention and
is credited with liquidating, one promi-
h is r holder II int who, it is claimed,
20 r = 'Nt'u " Nlthl /"
Chicago, selling about 10000 shares.
The bears made a special drive at it, and the
pressure used a decline of 31 points, tho
price falling below so. AT the reduction it
received n fair support, and q rally of 2l6
points followed. The feeling against Gas
Trusts, while not as severe rs against Cotton
Oils, was sufficiently bitter to cause free
selling. and an apparent absence of support
until after a decline of 81 points, when, as
in the other weak properties, a small rally
was secured. Coal stocks were irregular.
The continued mild weather has materially
reduced the coal trade, and Il weaker feeling
existed, which resulted in n moderate sell
ing of high priced coal stocks and Il fair de-
cline IN values. Granger stocks were H.
regular. The foreign houses bought liber-
ally most of the week, but the price
special The rest of the list
were unsettled, but without important
developments. Many of the stocks that last
year paid handsome dividends, but have
since reduced them to a low figure, are now
paying no more than interest ON bonds, and
the investors rather prefer the latter, as
they afford greater security. This has re-
suited in making ii strong and fairly active
bond mari ct. Business, on the whole, was
larger, the sales on the New York stock ex-
change for the week aggrcgating l.333, 600.
Considerable activity was manifested in
the leading grain and provision markets dur
ing the week just closed, and N rather more
than usually nervous and unsettled feeling
was developed. Prices iluctuated wildly, and
averaged lower on the principal articles. AT
the declining scale, considerable property
carried on small margins and ON stop order
limits, was offered for sale, and added ma
terially to the depression in n general way.
Margins were called with more than usual
freedom, and were promptly placed. Tho
supplies of grain are slowly decreasing,
and the stocks of provisions are charging
gradually. There has been considerable
pressure to sell property for future delivery,
particularly in the wheat and provision mar
kets, mainly on behalf of local shorts and
parties who We're holding moderate quanti-
ties in anticipation of an advance in prices.
Heavy holders maintained their position
firmly, ana margincd their contracts freely
to figures regarded safe. AT the close prices
slightly improved, yet the decline in prices
was not fully recovered. The receipts of
grain and provisions were not very large,
and the shipments were quite liberal. The
exports OF provisions and corn were well
grains and flour was somewhat limited. The
foreign markets were generally unfavorable
to sellers, and domestic markets gave holders
very little encouragement. In shipping cir
Giles there was a far business transacted,
but the offerings were not very large, and
the demand was not particularly urgcnt-
chiefly in the way of filling small orders to
supply the wants of the interior points.
Seeds were quiet, with prices favoring sell
crs. The receipts of live stock were quite
free, and the market ruled weak, lower
prices being accepted for both hogs and cat
tie. The packing of the west for the week
shows an Increase of about 5000 hogs, tho
first increase since the season opened, but
The reduction for the season is still about
$4,000 hogs, compared with the returns Of
last season 10 date.