The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1893-12-31


Legal tenders, increase. ............... 2.yl9,2 200
DepoSIts; o'1y99y0
Circulation, decrease. 1860
The banks now hold $S0,Sil.151 in excess of
the requirements of the % per cent. limit.
Total sales OF stocks amounted to only
$3.50 shares. The close of a memorable
year in the annals of Wall street was
marked by strength and activity. Saturday.
and there was not a trace in the final deal
ings OF that hesitation and feverishness
which was a leading characteristic of the
speculation during the past few days. Not
a little of the firmness of the stock mar
ket was due to the fact that the short in
terest was DESTROYS of covering before
the January disbursements overfiowed the
already well-flled treasure chests of the
financial institutions of this and other
money centers. At no previous time in the
history of this country have the rates for
money been so easy all around. Never be-
fore have the associated banks of this
city held so large a surplus.
which exceeds the legal requirements of
the banking law by over $50, 600, 900. At the
close of last year il was not quite 100000
and the year before only ST.. 100000. When
the heavy interest payments due Jan. 1
are added 10 the present large hoardings,
the amount of money seeking investment
here Will be unprecedentedly large, and
hence the conditions do not favor the bears
in the stock market. As the speculative
horizon has been cleared of some heavy
is much healthier and the new year is
brighter Of promise by reason Of the fact
ended there has been such a Clearing up or
weak railway properties by means Of re-
ceiverShips and reOrganizations. During
1893 some seventy railroad companies, oper-
ating a total OF over 1900 miles of track,
with an aggregate capital stock of over
(ES1 I'M NM and funded debts Of OyRr S1O1
100000. have been placed in the hands of re-
ceiyers, including the Philadelphia & Read
Atchis0n. Topeka * Santa Fee and New
York x New England. With the difficulties
tangiement a large element OF speculative
danger is removed and an Improvement in
values is to be looked for generally. rather
GOOD OPENING DEMAND.
At the opening Of business Saturday there
was a good demand for the leading stocks.
Louisville & Nashville being notably strong,
the first sale being at an advance Of 1$s
OF Friday night. and the general improve
ment ranging from i to = per cent. In
exception to the firmness i'm the rest OF
the list. New England opened q lower, and
under heavy selling broke 81. TO 40, rallying
Is. making a further reaction to 9A, and
closing at a recovery OF q. The general
list fell of "a to Ia In sympathy with the
aepreSs sbsrp IN INWARD NsTd hn turn I Sas
made soon before IL O'Clock. Linseed Oil
advancing 3. Manhattan .. and the general
list k4% per cent. AtchisOn. which had
advanced X. declined IL, but sold up rs
in the final dealings, closing at an advance
o'clock speculation was heavy and dull. the
general market receding isMfs, Union Pa
cihc l.. and Louisville * New Albany rs.
In the last fifteen minutes of business there
was a rush To cover by the bears. and the
lower range of values induced long buy
Ve'y sIrong MARKET and send prices up
a TO Ia per cent. Louisville * Nashville.
Atchison and Missouri Pacific leading the
with a buoyant tone. the leading advances
on the day being Louisville, 2as; Linseed
and Chesapeake & Ohio. rs. and Southern
Pacific an3 Wheeling. & Lake Erie, l per
clines with n loss of 2 per cent; Colorado
Fuel and Iron. 2 and sugar. per cent
against S0l2 the previous sale.
The principal changes of the week are:
peeiines1Baltimore & Ohio, New Jersey
luth. preferred, and Colorado Fuel and Iron.
2; Great Northern: preferred. 21s: Canada
Pacific and Consolidated Gas. s; Louisville
& Nashville and Duluth. South Shore &
atlantic. ga; General Electric. 3S; Louis
vile & New Albany; and PittsBurg. c..
Navigation, .; MINNEAPOLIS g. st. Louis.
preferred. 5ls; New England. GSs. and Buff
falo. Rochester * Pittsburg. So. Advances
American Tobacco. .; National Cordage.
2%: National CordaSe. preferred, 4. and
LlnSteIs Oll. =
BONDS GENERALLY STRONG.
The railway and miscellaneous bond mar
ket was generally strong throughout. The
principal changes on the day are: Advances
-Atchison tours. ,; Atchison seconds. is:
Colorado Midland tours. 2h: Evansville &
Terre Haute hrsts. ia; st. Louis Southwest
ern firsts. IL: Reading tours. Ii; Peoria &
Eastern frsts. ,: Louisville & Nashville. l
per cent. Declines-Nfobile x Ohio tours
and Northern Pacific terminal firsts. each l
per cent. Hooking Valley general mortgage
skies sold at ssh against 1872 on Dec. 10.
The leading changes Oh the week are:
Declines-Northern Pacific x Montana
firsts. 1915; Colorado Midland fours. 10; At
lantic & Pacific tours. 10; Louisville n
New Albany general fves. 9ie; st Louis q
San Francisco cOnsols fours, .; Union Pa
cihc. Denver K Gulf first. I: Wabash de-
bentures. series f.. Hooking Valley general
fVes. I; Hooking Valley general skies, ,;
Iron Mountain hvcs. ~. ADMINISTRATIONS
ing Coal nVes, l0i2 and Illinois Central three
and-a-halfs, ~ per cent.
Government bonds were steady. State
bonds were inactive.
rhe following table. prepared by James e.
Berry. Room l6. Board Of Trade shtyys ina
range OF quotations.:
Name. ing. est. est ing
ADAMS ENpreSS........ -. ~
Alton a. I. Hdute..... -. Is
Alton x T.. H. pref. -. 15
American Express -. .... 90. 10
Atchison .:"-"... l0i5 1925 9A 1855
Baltinofe OhlO--.-- -. -..- -. 61iz
Canada Pacific. ..... y
-. CanrLa nr