Omaha daily bee., 1889-03-17
WEEKLY BUSINESS REVIEW.
interest Rates Still Easy Despite
Increased Demand.
COLLECTIONS ARE VERY FAIR.
A Disposition Shown on the Part of
Loaners to Put Their Funds
Into Long Invest
ments.
The Business Resume.

CHICAGO, Marcn u-lSpeclai Telegram 10
Tun BEE. The chief features of the money
market are continued easiness in rates de-
spite an increased demand. The chief bor-
overs are merchants and manufacturers
who are preparing for the spring trade.
Lumbermen are also asking for more favors
than at any time In months, as they are
breaking up their logging camps and require
considerable money TO pay their men and
prepare for the seasons business that is be-
fore them. There is an increasing supply OF
nearly all descriptions of paper at the banks
and on the street, but no trouble is ex-
perienced in placing it, owing to the liberal
amount of money awaiting profitable invest
ment. Call loans were freely made AT per cent
and time loans at per cent. The bulk OF
the commercial paper afioat pays @ per cent
and some readily commands per cent. A
liberal amount OF money Is being placed on
real estate at B ana q per cent In many
instances there is more disposition on the
part of lcaners to put their funds into long
investments at low figures, where sure
return is promised than to let 1t out for
short terms at slightly higher rate. Col
lections are all that can be expected at this
season ana q fairly healthy condition Of
affairs exists in nearly all lines of business.
The eastern loan market is not particularly
active, but a steady feeling exists. The
market for New York exchange was rather
dull and unsettled, sales being made at
u wide range Sellers as q rule were not dis
posed to accept the terms bid by buyers and
at times 1t was difficult to make trades.
Transactions were made at 25160c discount
per 81, 900 aud closed at 500l60c Foreign ex-
change met with more demand and during
the early part of the week it was easier, rates
declining l401ac owing to the slightly in-
creased offerings of bills drawn mostly
against shipments of corn and provisions.
Sixty days documentary bills on London sold
Mt S4.Si1fd4.S5 and closed ut S4S4910ft.S5.
The fairly favorable weather has stimulated
the iobbing trade in nearly all branches, es-
pecially in the dry goods, clothing, millin-
cry and boot and shoe lines, most OF
the jobbing houses having about oil
the Orders they can conveniently provide
for. Hardware was active. Sugars and
coffees also sold moro freely, and steady
feeling prevailed on staples of all descrip-
tions. The New York stock market while
exhibiting increased activity was consider
ably unsettled, the sharp advances being
followed by declines that carried the stocks
lower than before. St. Paul was the leading
feature and during the latter part of the
week prices were irregular. The action OF
its directors in declaring dividend of per
cent on preferred stock created surprise, as
an impression existed that it had not been
earned The directors, however, cas-
lily overcame the difficulty by changing tho
wear, making it end June 30, instead
of December 81, as heretofore. The road
earned 3 per cent the first half of 1888, but
hardly l per cent the last half, and is ex-
pected to earn per cent the first half OF this
year. London was liberal seller during the
most of the week, but buyer latter. Stocks
that has loaned fiat in the road was called in
on Thursday, and the pice advanced to a
premium. This induced free buying, par.
ticularly by the shorts, and prices advanced
~, but the outside figures were not main
tained. The news from London and Paris
was emphatically Dearish. In the copper
stocks in Paris the liquidation was heavy and
at times the feeling was panicky,
and a large shrinkage in values re.
suited. Strenuous efforts were made to
bolster the market for such shares to allow
the insiders to get out, but they were III the
main unsuccessful, and sharp depressions
followed the advances The unsettled feel
ing abroad brought in free selling orders for
American securities in New York. These,
coupled with reduction in the price of an
thracite coal, made the bears more coar-
ageous, and free selling of the general list
ensued, which established lower range Of
prices, with exception of Pullman, which de-
cllned points, and Oregon Navigation ~
points, The losses did not average over I
point. The bond market exhibited fair ac-
tivity, but no special changes occurred. Tho
aggregate sales on the New York stock ex-
change for the week were ,60S, 900 shares.
With the weather rather sprng-like there
is noticeaDly gradual Improvement IN all
departments of trade Reports from the
interior Indicate that the farmers are pro-
crossing with their spring work IN some sec
tions and making preparations in others.
Some produce is being forwarded to the
small stations, but the bulk Uf the grain re-
ccived at the leading markets is being trans
ferred from the interior elevators. Specula-
tive trading was active in the leading arti-
ces, attended with more than the usual
fluctuations in prices In fact it has been a
sparring contest between the bull and bear
interests, and the result was generally favor
able to the latter in the grain markets and to
the former in provisions. The supplies OF
grain have gradually decreased and there
has been no material enlargement in the
| supplies of provisions. Operators appear to
what, July delivery attracting more atten-
Advices from the foreign markets have
not been particularly favorable to the long
interest of the domestic markets ana have to
great extent followed the course of the mar
kets at Chicago. The shipments from here
have been moderately large and the rate
cutting in freights from the far western
points has enlarged the through movement
| of grain to the seaboard. The approach Of
| the opening of lake navigation has led to an
| improved inquiry for vessels but only few
| engagements have been made. Considerable
money has been forwarded to the interior,
which would indicate an active business dur
| ing the spring months The crop prospects
| arc favorable, both at home and abroad, and
| spring seeding is progressing in the west and
! southwest. The movement of live stock has
| been moderately free TO all the leading west
| ern markets, especially of cattle and hogs.
| actively, and returns for the west since
| March show an increase OF 10000 hogs,
| compared with the "eturns for the corre-
| spending time in 1855.
SPORTS IN EaPn"Ss