The Indianapolis journal., 1896-11-02


the week amounted to s3S,OOO in gold and
ssi2.OOS in silver. The imports were: Gold.
s. 93s 12s silver s12 $50; dry goods. 81. 1.2e0659:
general merchandise, $.067.
The weekly bank statement shows the
following changes:
Reserve, Increase .s2 J02, S20
Loans, decrease .-..................... 3S69, lOO
Specie increase ...........-.-...-... 2249,oOO
Legal leaders, decrease .............. 552. 200
Deposits, decrease .......-............ 2036. 500
Circulation, decrease .........-....... 1i,SOO
The banks now hold 81, ,i62, 425 in excess Of
the requirements of the 25 per cent. rule.
The New York Financier says:
'"rhe statement OF the associated banks
OF New York for the week ending Oct. 81
shows that the position OF the institutions
as a whole is better than 1t was a week
ago. They have increased their cash
holdings and their surplus reserve, bring
ing the excess cash in banks 10 S17.4s3.2 225.
which is higher than 1t has been since
August last. From banking standpoint
this indicates the result of the conserva-
tism. which has been leading character
istic of the situation for some time
past. although the statement does not take
in account the heavy loans which were
made Friday during the furry.
The decrease in loans brings the total to
the present year-Feb. 5, just before the
last bond issue-and probably reflects the
porf acco,,nt Rnt ybo %, g0o I'M
also the preparations for payments of divi-
dends maturing this week. The actual
larger at the present time ttan the state
ment indicates. The fall In call-rnoney
rates seems TO show this clearly. The de-
crease In deposits was the logical result
OF the operations already described. The
movement TO the interior was very light
during the week. and the losses were main
lost. however. were partially Offset by the
release of funds held by importers against
gold already engaged
Total sales of stock were 1886 shares.
including the following: Atchison. 6lOO:
american Sugar. Il 500; Burlington & Quin-
cy. $500; Chicago Gas. 5.100: Louisville <
Nashville. 1900: Reading, 1900: St Paul
1900: Tennessee Coal and Iron. 1900; Union
Pacific, 4.5OC; Western Union, $500.
Saturdays New York stock market prac
tically consisted in Sugar, Reading and ST
Paul. no other stock reaching the 5000
enare mark The course Ol prsces was ir-
regular and some of the fluctuations re-
corded IN the principal shares were maize
Tiai' i n, LAKE b Snore rGr sxn,mpe' advancing 3
terized by decided strength, but reaIiza-
tion5 subsequently caused concessions. A
slump In money rates TO 10 per cent as the
maximum with the average and Closing ar
per cent. exerted reasSuring influence
The opening was strong and higher under
liberal buying for both accounts despite
lower quotations for American securities I'm
London and cabied advices of a rather dis
couraging nature regarding alleged impend-
ing financial and political disturbances in
connection with Kaffirs abroad.
Bay State Gas rose 4ls per cent on a va
riety of rumors. including that OF a settle
ment of all differences between the conflict
ing interests i'm the property. The failure
OF confirmation of the report. up TO the
sharp reaction of 49,. The extreme ad-
vances in the other leading shares ranged
up to Pa per cent. in Manhattan. the stock
later reacted la per cent. and the other
market about 1 per cent. After the first
hour the market became very dull. owine
to uncertainty regarding the bank state
ment The exhibit was apparently consistent
in all items and was more favorable than
had been anticipated, showing an increase
of S2.5ee.So5 in legal reserve, but was not
reelected IN the later trading. The closing
ws-s Irregular but with material net i'm
provements in a number of leading shares.
A WEEKS TRADE.
The early trading of the week was
marked by a continuation of the buoyancy
that had characterized the previous week.
under the stimulus OF cheerful forecasts
OF The financial and general business out
look TO which the animation i'm the cereal
markets and increased foreign demand in
a most important degree contributed. The
steady import movement of gold and the
increased strength OF the resources OF the
banks and treasury also constituted a
back log to the operations OF the bulls. in
various departments OF general trade in
creasing activity and advancing prices ia
up the prices OF the industria,s. On Tues
day however, daring scoop was en-
gineered. presumably by the bear leaders d;e
political complications between this coun-
try and Spain regarding Cuba The street
fell into the trap. An ensuing rally on the
unqualified denial of the reports was
checked by growing firmness In the money
market and subsequently, dull and droop-
ing market was noted. On Thursday the
speculation became demora.ized on semi
panic rates for call money. Il fiat 100 per
cent rate being reached. The excitement
stimulated relief action by a number of
banks the next day. and pool was formed
with an aggregate surplus reserve OF Sl0.-
o1O.OVO 10 lend money from Friday 10 Mon
day next at equivalent to- SO per cent. per
annum- This action caused competition
between lenders and the rate subsequently
fell to s per cent
a large demand for cash gold had also
been reported at advancing premiums, but
at the close the inquiry fell of materially.
Some comment was excited over the con-
tinued nrmnesS OF the foreign exchange
market In the. face OF the stringency in
money. but this was partly attributed to
the belief that the high money rates would
only last for very brief period. The news
u Ine Oank poor stIateS renewed ,o, SO, Son,
accounts caused advances or IL per cent
in the active shares. The Improvements
marked notably i'm Pullman and Lake
Shore. In the late dealings the grangers
were in exceptionally good demand. st:
4ss per cent. respectively, from the low
points. Sugar touched 1i5ss early In the
week. broke 10 1l0ss, bat subsequently ad-
vanced 10 1i6. The rally carried many
stocks TO the highest figures recorded in
long time. The aggregate sales were L.
-. .SS3 shares.
The bond market OF the week sympa-
thized with the movement I'm stoci.s and
exhibited enlarged investment inquiry FOR
the giit-edged issues toward the close. In
speculative bonds good demand was also
noted with the Reading and Atchison L.
sues prominent The net changes show
sharp gains generally ln the leading issues.
The total sales were -. $4,000
Gove-nrnent bonds Were irregular, but
with good undert0ne. The sales were
SZ<2 800. A feature OF the dealings iEt silver
certificates was the execution or ORDERS Tor
Many small lots az uniuportaut nuctua-