The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1893-12-18
STRONG STATEMENT
New York Banks Still Hold &c.,
100000 Above the % Per Cent.
Stocks Were Active During Saturdays
SLJr Session-In dianapolis Traders
Looking for Better Business.

At New York. Saturday. money on call
was easy at 1 per cent.
Prime mercantile paper, 3lzd51z.
Sterling exchange was dull and steady,
with actual business transactions in bank
ers' bills at S4S7a4s7A for demand. and at
S4s4I3Q4sf%4 for sixty days; posted rates.
N&l5g4SS1s; commercial bills, s4.S3 hg4S31z.
Silver certificates were at 695sc the last
bid; no sales.
The New York weekly bank statement
SHOWS the following changes:
Reserve, decrease. ..................... 1885, 600
Loans increase VcS'30V0
Specie, decrease i, ,3Oo
Legal tenders, Increase. ,yJO
Deposits, increase - l45,SY0
Circulation. decrease. 14o,1OO
The banks now hold SIC, ,S26 in excess
OF the requirements Of the % per cent rule
At meeting of the board of directors OF
the Chicago Junction Railway and Union
Stockyards Company. held in New York
Saturday, resolution was adopted author
izing the company to donate to the Worlds
Columbian Museum the $4,000 of stock
originally subscribed by the company TO
the Worlds Columbian Exposition The
directors adopted a resolution declaring it
To be the sense of the board that the usual
dividend Of per cent. on the preferred
and per cent on the common stock should
be declared at next weeks meeting or the
directors.
tween 10 and u o'clock to-day than on any
day of the week that has just ended, but
the dealings were mainly on the bear side,
and the general tendency was toward
lower prices. The market opened dull and
irregular, but in the main lower, but soon
developed a fair degree of firmness. sugar
being the leader, large purchases beine,
made in an effort, il is said, TO compel the
shorts to cover 1t was reported also that
better sugar schedule in the tariff bill.
Distilling was bought on a report that
favor of an increased tax on whisky:
reaction took place before half
an hour had elapsed which was
case of couple of usually inactive stocks
This was checked by the development of
an active buying movement in General Elec-
trio, based reports that the payment of
dividends on the preferred would be re-
sumed on the first quarter of the new year.
taken out of the street by a prominent in
weston. Under this influence stock rose IA
Improvement. Sugar advancing IA, Sugar
preferred /. Distilling Is, Rubber l and
Wheeling & Lake Erie preferred Ia per
cent Shortly after IL o'clock the buying
became lighter, which emboldened the
bears. who attacked Sugar the other in
dustrials, the .grangers and other shares
with the result of bringing about de-
cline. ranging from Il to pa per cent. in
Cordage preferred Sugar, Chicago, Burling
ton Quincy, Canada Southern, Delaware,
Lackawanna & Western. In the final deal
ings there was an attempt to cover on the
part or a rev SnOrtS, Wnicn resulted IN
recovery OF a small fraction in some shares,
and gave a shade firmer tone TO the specu-
lation at the close. Wells-Fargo sold at $50,
against 124 the last previous sale. Sugar
preferred is 1 per cent. up on the day. and
the common Is down. General Electric is
q and Rubber 1 per cent higher. Most of
the shares are, however, lower on the days
transactions.
On the weeks transactions the changes in
the railway list are mainly declines. Evans
vile & TerTe Haute is down 6; Tobacco.
preferred, AZ; Delaware Lacl1awanna G.
Western, AS; American Express, 4; Pitts
burg, c., c., G. & st. L., 5, and Western
Union, 2A. The industrials are mostly
found in the list of advances, including
Lead, preferred. ga; Lead, common, AIS;
Sugar. preferred, 50; Sugar. common. q;
Rubber. 5; Rubber preferred, 81 General
Electric, AS; Tobacco, common, 212, and
Edison Electric, 2 per cent
The bond market generally weak
throughout the day on a fair volume of
business.
Government bonds We're steady. State
bonds were inactive.
The following table, prepared by James z.
Berry, Room 16, Board of Trade shows the
range OF quotations: