Wheeling Sunday register. [volume] (Wheeling, W. Va.) 1882-1934, 1894-01-14
THE MARKETS.
fHE "Rt6lsTER'S~ SPECIAL CORRESPONDENT
SUMMARIZES THs SITUATION.
The Situation Al New YOrk-sSnkS Gaining Rap
idly in Beth Casa and Dsposis--A Pl,Aoss
Of HcDsy-Bsnks in Bs,,,r Toae and StTtssA-
.ning-Ths Present Outlook.
sprc'ai T.',ora'n 10 IL. sunday R.siasr.

sp1ciai Ts,Sorafa 10 80 .Siaday Register.
NV SORN, January i3-Although n
feeling OF strong confidence in the various
vent OF the New Year, the pas; week has
witnessed no important change in the gen
eral tone OF Affairs. and conditions remain
for the most part very much the same as
during the past month, although what
changes have taken place may bee describ
Ell as OF a. encouraging character, and
from the present outlook IL is probable that
next week will show a material improve
ment over the past one. In the banking
line, money continues TO accumulate NJ this
centre, and the surplus reserve OF the
banks, has now reached the enormous
amount OF So, OOO, 900. while the amount OF
actual cash on hand is almost S2l4, 600, 900
very nearly equally divided between specie
and legal tender money. The aggregate
deposits OF the Clearing House banks
amounts TO S22S. 600 coo and are increasing
al the rate OF sic, 900, 900 week. while the
expansion OF loans averages less than 81,
100000 week What TO do with this
vast amount OF idle funds, is the problem
that Is nj present confronting the leading
bankers here.
MONEY u BEING OFFERED
at extremely low rates but borrowers are
absorbing very little. There seems TO be "A
lack OF demand for money ~ any rate
Many city institutions as well as numer-
Gus out OF town lenders, are offering 10 NJ
per cent. for thirty 10 sixty days: = per
cent Tor ninety DAYS 10 four months and ~
per cent from four 10 six s.opths, but tho
takers arc comparatively Tow. Money on
call can be had in any quantity for to ~
per cent.
On the Stock Exchange, business opened
Tor the week In fairly good tone, and fol-
lowing the rising tendency OF the last two
days OF the present week prices moved up
slightly. The market then became steady
with prices firm. which was followed by
an advance aud "A general strengthening all
along the line. Later the market became
| dull again, and was as narrow "a AZ any
| time before the rise OF tho previous week.
| The floating short interest appeared 10
| have been covered at tho recent advance,
and the large operators who were waiting
| for decline showed no disposition 10
| close their ventures, simply remaining
! quiet. awaiting DEVELOPMENTS These con
| ditons remained unch angcd, aud the mar
ket closed a. very near the opening quota
/ tons
~ THE IRON ASp STEEL MARKETS.,
conditions continue practically the same,
IA noted IN these columns week ago. man
uiacturers not doing as much IA year
| agO, and naturally awaiting the outcome of
the tarin question before attempting 70 ex-
| tend their lines.
Tho Hardware line however, shows Inn
provoment and the larger houses report
| business as increasing the principal de-
maud az the moment. being for the cheap
/ er line of goods. Collections are fair, aud
| steadily improving.
Dry Goods imports az this centre are
! still S3,OOOOOO week behind those OF 4,
year ago, but the business Is fair
| The cereal markets were active again
last week with the price or wheat advAnC-
| ing slightly, although the price OF corn re-
| mains firm at unchanged figures.
| Taking the situation as a whole II Is
| very perceptoly growing stronger Gen
| eral business IS becoming more active. and
! the undertonc OF affairs regaining some
| thing like old times stability. Natural y
the Improvement is slow, but indications
| point TO IA gradual broadening In this re-
| spect.