Wheeling Sunday register. [volume] (Wheeling, W. Va.) 1882-1934, 1894-01-21
THE MARKETS.
AN IMPROVEMENT IN TEE SITUATION NO.
flcEAsLE AT NEW YORK.
General Business More Acdvs-Banks Sill Gain
Tag Cash, and the Demand for Money Growing
sr0assr-oondiions Of the Pas, Week.
spsssi I...rran 10 "a. sunday Renter.

Sp<Sai Telegram 70 sas Sunday Rsyist>r
NEW YORK, January 2o.-There has
oeen distinct improvement in the gen.
erai situation at this centre during the
past week, and it Is the kind OF improvo-
ment that has possibilities OF lasting, be-
, cause tits based on a general increase OF
industrial productions throughout the
country, and by very percep,iole in
crease In general consumption.
Outside OF the Stock Exchange. the
various markets show increased sales and
greater activity, while the volume of bust
ndss for the week, in the respective mar
kets. is larger than has been exhibited in
many weeks.
In the grocery trade the larger houses
report business as fairly good; showing a
material Increase over the previous week.
and with collections better than at any
time during the last few months. This inn
provement is owing largely to the fact
that stocks OF groceries are very low all
over the country, and the Frightening ten.
dency OF the past week has brought out
many others from buyers VINO have here
toiore oeen In need OF goods, but have re-
trained from laying in stock until condi-
1oHs lOukeu more favorable.
IN THE HARDWARE LINE,
the growing activity of the week has been
Drought about by almost similar circum-
stances; Inc Increase in orders has been
marked, and the improvement In collec.
I uons Is likewise perceptible The reopen
| ing OF industries in various sections. and
tue starting up OF a number Of mills and
iactorles, has stimulated the revival OF
building, hence the Improvement
N n drxys Aa liz.
the principal demand being for the cheaper
| grades OF goods.
Contracts for future delivery OF all
| grades OF goods are coming in more rapid
| ~, indicating that many OF the buyers who
nave held BACK their orders are now begin
ming TO send them In, in expectation of in
I creasing trade.
In the iron and steel markets, conditions
continue the same as noted in these col
umns week ago, but what changes are
transporting are OF an encouraging charac-
ter; the principal activity OF the moment
being based ON contracts for structural
material. From the market here, IL is evil
| uent, however, that the general demand
Tor pig iron Is slow; and for steel, weak,
with the tendency of prices lower In the
banking line, money still pours into this
city and
TIE PLETHORA or FUNDS
continues. Loans are increasing a little
1
| sion icing about 81, 100000 a week. while
tne influx OF funds amount 10 more than
| Sll ,OOO, coo. The total amount OF cash now
held by the New York Clearing House
banks is t23i, 562. 100. while the surplus
reserve is S95, 0OO, 600 With this vast
surplus, 1t is very probable that the banks
invest largely in the new per cent-lO
year S5O,OOO,0OO issue OF Government
| bonds.
There is not the slightest doubt but tina,
the bankers OF New York stand ready "a
| take large portion OF the issue as the
best Investment for their idle funds. as
well as 10 assist the Treasury, but as the
| proposal Ter the purchase OF these bonds is
an open one, IL is also probable that a good
sized slice OF the issue may be absorbed
| by the foreign investor
| 80 FAR, the Secretary OF the Treasury
has offers amounting TO four times the
total issue, and has also received "A bid OF
| 10, which consequently brings the in
terest down to 216 per cent, and IL is high
| ly probable that no better offer than this
will be received.
on THE STOCK EXCHANGE
| business was little more active last week,
but as whole the volume OF trading is but
| meagre. Professional operators supply
the bulk OF the speculation, and hence many
changes In prices are brought about by ar
| tifcial means.
Fluctuations were mostly confined TO
| fractional points and prices were weak.
The money public are paying some atten-
tion TO railway bonds, many OF which can
now be purchased at price to net 3 per
cent. TO the investor. The municipal bond
market was fairly strong during the week,
although more inquiries than orders are at
the moment being received. Money con.
tinues in abundant supply, on call ruling
at l per cent, while time money can be had
| for per cent. for 60 days, per cent. for
| four months, 81 per cent. for six months,
and per cent for nine months. CONNER
| cial is quiet.