The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1896-01-27
MINING SHARES.
Doubleday. Rope & Co. Of Colorado
WEEKLY REVIEW

rut of suspense" says Henry Clews, of New
York. in his review of operations in Wall
street last week. "All waits on the issue
OF the treasury loan. without any one pre-
tending TO know what the issue in detail
will be; though no question is raised as to
the government in one way anbther get
ting all II has asked for Such surface
symptoms as appear from day to day leave
no doubt on that point. Since our advces
OF last week, there has been no aggrava-
ton or the recent partial stringency in
money incident TO preparations for taking
UP the SZU.oJO,0O0 installment of the loan
Inc reduction of the bank loans for the
week ending with the 18th inst. was less
than AOOO,O0O, which shows that the banks
are not feeling IL necessary to largely con-
tract; nor does that disposition seem to
increase iiie as we near the awarding of the
Dids, 1t thus seems likely to turn out that
the banks have already largely anticipated
the erect or the Withdrawals of casa to pro-
vide for the loan payments.
III is impossible TO trace exactly the
process of accommodating gold for paying the
first $20.000,0O0 There seems to be three
principal channels of supply First, gold
has been imported (at Whatever cost by
those who dislike to procure it through the
exchange of legal tenders at the subtreas-
ury, and about s7,00O,COO is estimated to have.
been provided in this way. There is the
greater inducement for these people to COL
lect their gold abroad from the fact that
t tney can AN get 1t here only by paying con-
inferred, however, that these foreign sup
plies have increased the local stock of gold:
has been approximately equal, and those
shipments have been supplied from the
treasury, helping to reduce its reserve to
curement has been the subtreasury through
the conversion of legal tenders, the total
amount so derived up to the present being
Beyond ie1 these supplies. po an HnasceT.
tainable amount is coming from the
interior banks. to be held on special
taking up any bonds awarded to the send
ers. Taking no account Of this secret but
possibly material item, we can reckon
about ten millions as already known and
in sight, towards the payment for the twen-
ty-millions due on first instalment, besides
an uncertain further amount. Indefinite
rumors are current of a considerable sum
to come. at a later period. from Europe.
The amount is not definitely mentioned, but
in some instances it has been estimated
as high ten millions of dollars. Possibly.
these reports may mean nothing more
than that IL Is safe to assume that a liberal
ann OF 5ds b w bonds DE w e
fully paid for at once, and also that as
the gold could be got cheaper abroad than
receipt of gold from the continent: which
ably a good PROPORTION or the gold still
needing to be provided against the open
ing Of the bids. Otherwise. the premium
gold and on legal tenders would hardly
be maintained at "a OF l per cent, the cur
rent rate. That premium moreover is cal
culated to defer certain proportion of
the preparations until near the close of the
bids.
Though business on the Stock Elk
change remains very dull. yet the tone in
values is steady. No one thinks of taking
long lines of stocks, nor do any consider
able holders show any anxiety 10, sell. Lon
don is beginning to show revival of in
terest in this market. The tone of feel
ing towards American interests is recover
ing. The distrusts arising out of the Ven-
ezuela dispute are gradually disappearing in
Atlantic. Some further approaches on both
sides may be needed to win back the trust
of British bankers and investors, and 1t
is possible that diplomatic formalities NAV
involve some inevitable delays at this point,
but there is no longer any serious doubt
that affairs will gradually move towards
amicable settlement This underlying feel
ing found a spontaneous expression during
the week by a London purchase Of twenty
thousand shares in one day.
Saturdays Bank CIearings.
At Chicago-Clearings. s1o.s3OS4O Money
cent. Foreign exchange steady: bankers
Q.ondon) sterling. $.s91a and Sass.
At New DEMONSTRATING, 81, 1856 2OS.
At MISUNDERSTANDING. $s.7S4.760: bal
At MISUNDERSTANDING $s10,9l2 balances,
9i.302 New York exchange, 81 premium SELL
ing.
ances. sS77. ass. Money. 5aS per cent. New
York exchange. 75c premium bid; soc asked.
At New York-Clearings. $si215,3O2; bal
AT At Bioston~Clearings. s12.1A,2o2: balances.
AT Baltimore-Clearings. 1921. $50: bal
ances. $S4s997.
sd7 per cent. New York exchange, par and
zoe premium.