Wheeling Sunday register. [volume] (Wheeling, W. Va.) 1882-1934, 1894-01-07
THE MARKETS.
IHE SITUATION AT NEW YORK GROWING
FIRMgR.
Aoasy Abundant and Loans Ine-ssns-Basinsss
in Many Lines Shows Uumis.akabls Sings Of
Activity, Although Manufacturers are Await
Ing the Settlement Of the Tariff Question Before
Exceeding Their Lines


Speria! ZsieerG'a 10 80 Sl4adlv RscIf<-
NEW NoRE, January 6.-Busincss gener-
ally during tho past week eau best be de-
scrioed as fair, with money abundant at
low rates, and Frightening tendency APP
parent. In manufacturing lines, however,
tho outlook remains very much the same,
nor is IL probable that any great change
Will take place until the adjustment OF tho
tari6 revision. The present state OF affairs
IN this direction naturally causes a feeling
OF unceri ainiy as 10 the evestual outcome,
ana whilo manufacturers are anxious 70 re-
ceive and MI ali the orders possible, still
they are not inclined 20 make up any sur
plus stock until tho impending revisions
pave become settled In one way or another,
ana thus made actual facts. At the moment
there is, as IL were, no well defined basis
upon which they can work.
Inc talk OF personal income tax OF
per cent on incomes OF over a, 900 has nat
Gr~lly been uufaVorably received by the
/ business men ~ this center. There is much
Talk against IL, aud 10 has added to the al
ready numerous and depressing factors at
present impending. Outside OF the above
features, however, the general tone OF af-
ia'rs NJ this city continues TO improve and
| TO Cain strength. Money ia in abundant
'Alt'tfs anu NeAl DC lNhN IN All NuAnlllleS AT
! per cent. on cali. per cent. for time
money for ninety DAYS, ~ per cent. for
/ siN months, aud per cent for nine months
/ on good collateral Ia the commercial
/ paper market business Is dun. with prime
endorsed bills receivable quoted ut 3s[a4
/ per cent, choice single-nHmed paper at "a
! = per cent, and paper classed rs good at
/ ga per cent.
oN THE STOCK EXCHANGE,
! trading is, at best, only fair The market
/ IS largely AZ the mercy OF protest. onal
, operators, who, in the majority OF cases,
! conhue their mauocuyres 10 a few special
issues leaving the remainder OF the list 10
| huctuate In sympathy with the changes
! brought about la the values OF the more
! heavily dealt in stocks. The general pub
! lie have taken but "A small interest ia tho
! trading during the week, and even those
that did speculate, did so very lightly.
| mere was some purchasing OF the more
| favorable railroad securities, for
! investment purposes, brought ABOUT
| 10y the low prices Tor
/ which these can be bought. but even this
/ buying was ON small scale. Government
| bonds continue firm a. unchanged quota
! lions. while railway bonds are becoming
| stronger in tone aud higher In price Many
! OF he rumors which affected and depressed
speculation during the week, have now
! neen disposed Of; chief among these being
| that the Holland Trust Company has vir-
/ tuuuy decided 10 liquidate. and that the
Southern National Bank proposes TO in
crease Is surplus by reducing its capital
ouehalf Also the rumors which were
| spread regarding tho embarrassment of
some private banking houses had very lit
tic foundation, and were for the most part
! very misleading.
II - generally considered here that the
private banking houses OF this City, are
an pretty good condition.
IL THE NATIoNAI.BANKING LINE,
money has continued TO accumulate at thi.
centre. until the surplus reserve OF the
banks now amounts to SSO, sis, 100 whict
makes the actual cash on hand f2O7, 494 600
ana this enormous amount, the banks mr.,
! unnblc 10 put into actual employment
| What u do with this money is the prob
lem that Is to-day confronting the leading
| bankers OF this centre and without ,
| solution. Loans are increas ny AZ tho rat,
OF Sl,jOO,OO0. week, but at this SINAI
rate, is not increasing the situation TO any
perceptable extent. AS II is
the banks arc making no money
aud can find no outlet for their funds, al
| though they arc Vainly offering them a
| extremely low rates. When once the man
ufacturng interests OF the country get int
| active operation again, however, 10 is likelS
! that much OF these vast idle funds can find
ready takers, as Il is probable thut the de
mand for money will then become brisk.
In the commercial world, many lines
particularly those OF small wares and cheaI
| goods, are experiencing better business
and tho outlook is one OF expansion.
| Merchants generally report collections
as better. and are not now suffering 80
many bad debts. Buyers who are usually
good pay are making settlements prom pit v
Uut those who are invariably slow, are
worse than ever, and delaying payments
as long as possible.
Business houses generally are more con.
sentative in the opening OF new accounts.
and are exhibiting caution in the soliciting
Of new business.
When taken altogether the situation is
one steady improvement and feeling OF
hopefulness is almost universally pre-
dominant