The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1894-01-01

merclal bills,
Silver certificates, 69Sc bid. Bar silver
closed at Csc per ounce; Mexican dollars,
sec. It London bar silver closed at 31zd.
The New York weekly bank statement
shows the following changes:
Reserve, increase. $2,S1,3I9
Loans. I3l9,9O
Specie, increase. dd9SaU
deposits, increase----.-..-....-..-.. o'.$ySy9
Circulation, decrease. l44,6JO
The banks now hold $50. S14.151 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 tirmness 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-filled 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 81 ,00,OO0. At the
close of last year il was not quite 100000
and the year before only S7,O00,@O. When
the heavy interest payments due Jan. 1
are added to the present large hoardings,
the amount of money seeking investment
here will be unprecedentedly large. ana
hence the conditions do not favor tie bears
in the stock market. AS the speculative
horizon has been cleared Of some heavy
clouds during the past week, the situation
brighter OF promise by reason of the fact
that during the twelve months just about
ended there has been such a clearing up OF
weak railway properties by means of re-
ceiversnlps and reorganizationS. During
1893 some seventy railroad companies, oper-
ating a total OF over $500 miles of track.
with an aggregate capital stock of over
$3.50, 100000 and funded debts of over S100,-
ceivers, including the Philadelphia & Read
ing, Northern Pacific, Erie, Union Pacific,
clemson; Iop p g santa santa E diq9c,, New
OF these corporations in process of olsen
tanglement a large element of speculative
danger is removed and an Improvement in
values is TO be looked for generally, rather
than a depreciation.
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 12s
OF Friday night. and the general improve
ment ranging from Is TO Is per cent. In
exception to the firmness in the rest of
the list, New England opened q lower. and
under heavy selling broke pa to 10. rallying
IS. making a further reaction to ga. and
closing at a recovery OF IS. The general
depression In New, England, but
a sharp, pward turn was
made soon before IL o'clock, Linseed OIL
advancing 3. Manhattan 2, and the general
list bQ% per cent Atchison, which had
dvanced Is, declined IL, but sold up rs
In the final dealings. closing at an advance
Of y on the day. Between IL and Has
o'clock speculation ives heavy and dull, the
cifc 1. and Louisville & New Albany tx.
In the last fifteen minutes of business there
was a rush 10 cover by the bears, and the
lower range of values induced long buy
ing, which combined TO make a
very strong market and send prices. up
Atchison and Missouri Pacific leading the
upward movement. The market closed
on the day being louisville, 25s; Linseed
OH. 8; Cotton Oil. 11s; New York Central
FadiS She an9 MSe s 1hi & La Lake and Er Southern ! per
cent. New England leads the list OF de-
f ai1af a with Ir q loss ) Of spG 2 g per cent; Go COLORADO ceat
Buffalo. Rochester & Pittsburg sold at 20.
against 2Ole the previous sale.
Tn principal changes of the week are:
Observation-Disclosures & Ohio, New Jersey
Central. American Gable. st. Paul & Du-
2; Great Northern, preferred, 21s: Canada
Pacific and Consolidated Gas. 8; Louisville
& Nashville and Duluth, South Shore &
Atlantic, 3A; General Electric. 39s; Louis
Vile & New Albany. and Pittsburg. c.,
G., G. & ST. l.. 4; Atchison. ~; Oregon
Navigation. s.; Minneapolis & St. Louis.
preferred, 51s; New England, 6%. and Buff
falo, Rochester &c Pittsburg, S1s. Advances
American Tobacco, 2: National Cordage.
2Ss; National Cordase. preferred, 4, and
Linseed oil. A.
RONDS GENERALLY STRONG.
The railway AMI miscellaneous bond mar
ket was generally strong throughout. The
principal changes on the day are: Advances
-Atchison tours. 8; Atchison seconds. 1N:
Colorado Midland tours. 2k; Evansville s.
Terre Haute frsts. ia; St. Louis Southwest
ern firsts. 1h; Reading tours, Ia; Peoria &,
Eastern firsts. 2: Louisville & Nashville. l
per cent. Declines-Mobile & Ohio fours
and Northern Pacific terminal firsts, each /
per cent. Hooking Valley general mortgage
SKIES sold at ssh against 93iz on Dec. 10
The leading changes on the week are:
DeclineS-Northern Pacific * Montana
firsts. 1917; Colorado Midland tours, 10; At
lantic * Pacific fouTs, 1k; Louisville q
New Albany general fves, 81; St. Louis q
San Francisco consols tours, 9: Union Pa
bentures. series Il, Hooking Valley general
fives. 4; Hooking Valley general skies, 5:
Iron Mountain hves, ~. Advances-Mahon-
ing Coal tveS, l0i2 and Illinois Central three
and-a-halfs, AZ per cent.
Government bonds were steady. State
bonds were inactive.
The following table. prepared by James 3
range OF quotations.:
ODan- Hioh- 49, ~.