Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1894-01-15
THE MARKET
TIE REGISTERS" SPECIAL CORRESPONDENT
SUMMARIZES THs SITUATION
Toe Situation st New IOrk-RAnks Gazing Rap
idly II Both Casa and DspoNS-A Pl,IhOra
Of sousy-Banks il Better IOns ani S,rsngth-
suag-1hs Present Outlook.
sr>4s, 1s,,oran to "a. R.e.,e-.

sr<eies 1s'eorGnto tss Rsctsic-.
NEW IORT, January l2-Although a
feeling Of strong confidence in the various
markets has been expressed with the ad-
vent OF the New Year. the past 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 be describ-
81 as OF an encouraging character. and
from the present outlook II is probabl that
next week will show material improve
ment over the past one. In the banking
line, money continues 70 accumulate AT this
ccutre, aud the surplus reserve OF the
banks, has now reached the enormous
amount Of ~, OOO. 900. while the amount OF
actual cash on hand is almost S2l4, 200, 900
very nearly equally divided between specie
and legal tender money. The aggregate
deposits OF the Clearing House banks
amounts 10 S225. 900, 600 aud are increasing
at the rate OF $40 OOO, 900 a week. while the
expansion OF loans averages less than 81.
300, 600 week What TO do with this
vast amount OF idle funds, is the problem
that is - present confronting the leading
bankers here.
MONEY Is Being OFFERED
az extremely low rates but borrowers are
absorbing very little. There seems 10 be "A
lack or demand for money AT any rate.
Many city institutions as well as numer-
ous out OF town lenders, are Offering IL al
per cent. for thirty 10 sixty DAYS. per
cent for ninety days TO four months and ~
per cent from four 10 six months, but the
takers are comparatively few. Money on
. IA ~ IN for I 70 I /.
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 wac followed by
an advance and general Strengthening all
along the line. Later the market became
dull again, ana was Is narrow as AZ any
time before the rise OF the previous week
The floating short interest appeared 10
have been covered At the recent advance
aud the large operators who were waiting
for decline showed no disposition TO
close their ventures simply remaining
quiet, awaiting cevelopments These con
uitions remained unchanged, aud the mar
ket closed at very near the opening quota
uous.
~ THE IRON AND STEEL MARKETS,
conditions continue practically the same.
/
UiGcturers not doing as much as u year
ago and naturally awaiting the outcome OF
/ the tariff question before attempting TO ex-
/ tend their lines.
/ The Hardware line however, shows i'm
pruVement and the larger houses report
business a. increasing; tho principal de-
mand az the moment. being for the cheap
/ CT line Of goods. Collections are fair, and
steadily improving.
/ Dry Goods imports at this centre are
still 5000 900 "A week behind those OF 4
/ year ago. but tue business is fair
/ The cereal markets were active again
last week with the price OF wheat advauc-
/ ing slightly, although the price of corn re-
mains firm at unchanged figures.
Taking the situation as whole II is
very percepubly growing stronger. Gen.
eral business is oecomin g more active. and
! the uudertOne Of affairs regainiug some
thing ike old times stability. Naturally
the Improvement IS slow. but indications
point 10 Il gradual broadening in this re
spect