The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1894-02-12
THE MARKET NARROW
Fluctuations i'm Wall Street Con-
fined to "a Per Cent.
Bank Surplus Reserve Falls to $50 $780,
600 and Money at l Per Cent
Local Grain Inactive.

AT New YORK, saturday, money on call
was easy at 1 per cent.
Prime mercantile paper. 3l2G51z per cent.
Sterling exchange steady. with actual bust
ness in bankers bills at $i.s6kQ4s6A for
demand and at si.sillQI.SiA for sixty days;
posted rates. $4S5Q4Ss; commercial bills,
A.S3%d4.4.
Silver certificates. 6fk965lzc. New York
bar silver closed at 64Ac per ounce. Silver
certificates nave lost &c on the week, fol-
lowing the break in the London market.
The New York weekly bank statement
shows the following changes:
reserve,
Loans, Increase. I3,V01,oUO
Specie, decrease......."s.....-......-. N,lo9,UO
Legal tenders, S.63S. 100
Deposits, decreaSe..-.................. n,632,OO0
Circulation, decrease ................ 10000
The banks now hold $50, 6s3. $50 in excess
Of the requirements OF the 20 per cent. rule.
Total sales of stocks Saturday amounted
to only 40. 100 shares. The share speculation
during the hours which the exchange was
opened for business dragged along slowly
without a single feature of interest. The
market was, perhaps, the narrowest on
record, the fluctuations being confined
within a range Of q per cent. except in the
case of St. Paul. Minneapolis & Manitoba,
which declined Ia per cent The grangers
moved within a radius of y per cent. st.
raul ClOSllS at lld > IIlCCs Dur llSNOl
& Quincy moving up * and Northwest and
Rock Island declining Is and Il, respective
~, S1 t nau Vas oppe aste al sbo W. u for the
first week OF February than for any pre-
viOus week in some months. but when the
figures were published, showing a decrease
of only $3.451, compared with the same
week Of 1899. the announcement seemed TO
1y sold off a small fraction. AS a matter Of
fact, the first week Of February last year
was so stormy and filled in with snow that
- fHp xvaC rInnG1alV liOhf The statement
Of the company is. therefore, not so favor
able as would appear on the surface. OF
moderately active stock. but it kept within
the q per cent limit of fluctuation, clos
ing. higher than on Friday, Gen
of z and Chicago Gas Y. while
Distilling declined Is per cent. Chicago adj
resolution in favor of the Common Council
granting a franchise to a new gas COM
pany gave temporary strength to Chicago
Gas, but did not insure many new invest
ments. The situation relative to the tariff
and revenue bill restricts the dealings in
by the measure. The reports from Wash
ington are so conflicting that operators
tain OF the outcome. The bank statement
made no impression on the speculative fra
ternity. the decrease in the reserve being
lions to the new government loans from
this city. and the other changes being main
With the loan. The stock market at the
close was firm as could be on such a light
volume OF business.
The entire week has been one of dullness
In the share speculation, and very few
changes of Importance have been effected.
The only advances of 2 per cent and over
are in Delaware, Lackawanna & Western,
80. and Evansville & Terre Haute. 2 per
cent. The chief declines are Louisville,
Nashville q st. Louis. AZ; Iowa Central,
preferred, 2$;, Denver & Rio Grande, pre-
ferred, "a, and Cordage. preferred and Cot
ton Oil. preferred, 2 per cent.
The railway and miscellaneous bond mar
ket was dull but generally firm, st. Paul,
Minneapolis & Manitoba, Montana Central
fiveS advancing 2, and Kansas Pacific con-
soils and Northwest coupon gold sevens 1
per cent.
Government bonds were firm. State bonds
were inactive.
The following table. prepared by James e.
Berry, Room 16. Board OF Trade. shows the
range of quotations.: