The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1896-09-13


The exports of specie from the port OF
New York for the week amounted to 81, 500
in gold and 81 096.95O in silver. The imports
were: Gold, 50, 501, 4S9; silver. $18945; dry
goods, $1,SSl, 14O; general merchandise &c.
169 067.
The New York weekly bank statement
shows the following changes:
Reserve, increase INSTRUMENTATION. $685., 275
Loans, decrease Observation-Disclosures. 81 800
Legal tenders. decrease .............. 2,5S0,0O0
Deposits, decrease ............-..... Al 800
Circulation, increase ................. 3Z,2UO
The banks now hold $S.767.S25 in excess of
the requirements of the 25-per-cent. rule.
The total sales of stocks at New York
Saturday were Sc, 745 shares, including the
following American Sugar, 10000; Burling-
ton. 6.100; Chicago Gas, 1000; Louisville,
1900; Reading; 1900; St. Paul, 1920. Spec
ulation was dull. and the movement of
prices irregular but mainly tending lower.
AThere not even suggestion of other
than professional interest. News of in
Creased political excitement abroad regard
ing the probable immediate developments
| In the Levant and of depression in the
London market, was supplemented by de-
yclines in prices of American securities at
that center, and the local market opened
weak and lower at declines extending to
! per cent. The downward movement was
checked after the first half hour, and re-
coveries occurred in most instances. A
number of stocks made up the entire early
loss. The Improvement was based upon ex-
pectation of an exceptionally favorable
bank statement as result or the heavy
gold imports. The exhibits proved disap-
pointing, a gain of only s53e,275 in the legal
reserve being shown, while deposits fell off
S1,417 5oO The explanation given was that
the shipments of currency to the interior
had been considerably above the estimates,
and that the gold imports only inquired Tor
through the subtreasury during the week
averaged about .$50oooo a day. and the
banks shipped fully as much: To-day the
subtreasury transfers to New Orleans
amounted to sS5oooO, and there was de-
greenbacks. In the last half hour prices
again receded, and the closing was weak at
sharp fractional net losses generally.
REVIEW OF THE WEEK.
The week lust closed was an important
one in financial circles, although the mar
ket fluctuations were for the most part
made by a few leading operators. The
heavy gold engagements and arrivals. ag-
gregating to date $23.474 $50, were, of course,
a topic of cardinal interest, but other i'm
portant events were also recorded. Snip
rnents of currency to the interior We're the
heaviest of any week thus far, footing up
nearly 81, 100000 against estimates of
So 900, 000 a considerable sum being shipped
to New Orleans TO alleviate the f1nanclal
strain at that quarter, caused by the
recent bank failures. Action was taken on
the dividends of several important proper
ties regarding which some conflicting fore
casts had been made. A reduction in the
quarterly disbursement on Manhattan had
been looked for, but the bears were caught
in flank q the declaration of the regular
~ per cent. The action of the directors
was claimed to be based upon reductions In
expenses and reduced interest charges. The
stock rallied per cent, chiefly on cover
year showed a surplus of s2173,650, after
liberal allowance for maintenance OF way
ally favorable position of the company in
duced theories of an increased dlvidend on
the common stock for the half year rms
ers. The declaration of only the. regular
per cent. was well considered in conserva-
tive circles. The market received the sugar
and Western Union dividends with marked
expression, but moved widely, IN sym
pathy with other developments allectlng
values London was mainly conspicuous as
a seller being unfavorably influeneed by
advance of y per cent mt a 10 z,2 per F
the Bank of England the political com
plications in the East and the heaVy eI-
lux of gold to this country and the con
tinent Frequent realzations by local
dealers also impaired irreguiarIty TO the
share movement. The Southern rate war
and financial stringency at New orleans
and the unfavorable cotton crop report
helped the bear faction. The report men
toned. showing a decrease OF l5.9 pounds
and placing the total percentage of yield
at 642. depressed the Southern and South
western shares The mandatory order of
the court prohibiting the rate war be-
tween the Southern railway Seaboard Air
line and connections created a very favor
able impression, and the estimated increase
TO about Sill .0o00 COCO in the treasury gold
reserve al the close of the week was also
hailed with satisfaction The actual i'm
ports of gold since the movement began
aggregate about $24 000, 900. and predictions
have been made that the $40050.000 mark
win be reached. The beneficial effect of the
irnow of the metal is obvious, relieving
the strain upon the local banks incidental
TO the crop movement and the urgent
needs of the mercantile community. The
comparative net changes in prices We're
in most cases unimportant. The aggregate
sales were $50 1877 shares.
The bond market for the week moved in
sympathy with the share speculation and
net changes are about evenly divided be-
tween gains and losses. Some of the fuc-
tuations in the inactive issues were quite
marked. The sales were s., 23l, 600
Governments displayed pronounced
strength during the greater part of the
week, but eased off slightly toward the
close. Sales, SIS. 500.
The following table. prepared by L. w I.ouis
Room Is Board of Trade. shows the range of
quotations
Omen High NV f~tos