The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1891-12-19

CI,risfmss sciez Expected TO Further Increase
.hs Volume of Local Bank Deposits.
The associated bank clearances yesterday
amounted to ss34. O67.7s; balances. sl25.-
02362. For the corresponding date last
year they fell short of those figures. the
clearances being S647.S24.16 and the bal
ances s46, 5sss7. For the week ending Dec.
IL. as reported by Bradstreets, the clear
ances were s. 630, $40, being an increase OF
53.S per cent. over the same period last
last. The showing made by Indianapolisi is
better than that of any other city in the
country. the increase being more than
double that reported from any point. ex-
cept st. Paul indianapolis now ranks
with Cleveland. Providence and Houston.
and if all her banks were in the clearing.
house there is no doubt the showing or
business transacted would equal that OF
Louisville, ct. Paul, Detroit, Milwaukee
and Buffalo.
The promise of colder weather IS having
an improving effect upon the retail trade.
end from now on until Christmas great
increase in deposits will come from TINS
class of tradesmen-
NEW YORK QUOTATIONS.
AtNew York. yesterday. money on call
was easy. ranging from 2l3 to 3 per cent.
the last loan being made at 81 per cent;
Closing offered at = . per cent
Prime mercantile paper, IA G6 per cent
Sterling exchange was quiet and weaker
ut si.t2ls FOX sIxty-day bills and S4.e494 for
demand.
The total Gales of stocks were Sol. 553
tfales. including the following: Atchison,
s64e2; Canada Southern. 500; Chicago Gas.
1517S; Delaware. Lackawanna 81 Western.
9.16i; Erie, $50; Louisville & Nashville. g.
4eO. Missouri Pacific, 1850; Northwestern.
$3.50: North American, 1850: Northern Pa
ciic preferred, 500; Reading. 2,160; Rich
mond & West Point, 1906; st. Paul. q. SOC:
Union Pacific. 1915.
The strength of the stock market was
again clearly demon strated by the heavy
realizations which took place. but which
were absorbed without effect. Higher
prices all around resulted. The market
also broadened out materially. and the
most active day since the present rise be-
gan, both in stocks and bonds was seen.
The important movements. however. were
few in number and confined To the inactive
shares as a rule. Prices were not widely
changed. and such stocks as Erie. st. Paul
and others of n like nature were traded in
over a range OF less than l per sent. Erie
again led the list IN point of activity and
AtchisOn also displayed an increasing bus
mess at slowly advancing prices. The out
siders were again well represented
in the purchases. and Chicago. Bos-
ton and Philadelphia. as well as
the arbitraRe contingent were heavy
purchasers throughout the day. There
We're many signs OF nervousness on the
part of the short interest In the coal
stocks. and, while the rising tendency IN
those stocks was stubbornly resisted.
rumors ami assertions of the trouble among
the companies IN the near future freely
eept in Jersey Central. which, however,
has of late been very feverish and sensi-
tiVeto every breath that blows. The w est
srn operators took the grangers In large
lots. while the realiZatiOns prevented any
material movement IN any of them. The
important movements were in such stocks
as Chicago Gas. Cotton-oil. Wabash pre-
ferred. Sugar and st. Paul * Duluth. The
opening was very active. and the struggle
between the different forces III the
market was early seen TO be severe one.
with the advantage on the side of the
BULLS the opel lag gainso of small fractions
being followed by further fractional gains
In the general list, while the Only material
movements were in cotton oil, which rose
1Ss. and in st. Paul * Duluth, which on
unusually large transactions for that stock,
moved u rapidly from 43l4 to z5l4. Later.
Sugar displayed strength, and W abash pre-
ferred scored an advance of per cent and
Lake Erie II Western Ia. with 1 per cent.
in preferred. The great bulk of stocks
III. however, ulbDldltQ u
strength. which was sufficient to absorb the
offerings. but showed q LAT k of speculative
forcing. and while the list was placed on n
slightly hlgherlevel than that of last night.
nomoyement OF note took place. In the late
dealings the realizatiOns became more nu-
merous and some shares yielded enough TO
wipe out the early gains. Northern Pacific
preferred being especially prominent IN the
movement. The market finally closed heavy
under these sales. but with most of the list
still st small fractions better than last
night Wabash is up Ia; CoJton-oil, Ia
and Sugar, per cent
Railroad bonds were relatively stronger
than stocks, and the largest business of the
season was done at the same slowly-ad-
vancIng price. The Atcnison issnes and
the Reading issues were most prominent in
the trading, but other bonds of note scored
the most important gains.
Government bonds were dull and steady
and State bonds were the same. Closing
quotations were: