The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1896-04-06

Bar silver. Csc: Mexican dollars, 5ihc.
The exports of specie from the port of
New York for the week amounted to sl,11O.-
$50 In silver. The imports were: Gold. 3d.
20; silver, Sf5.21f; dry goods s.. 362, 094; gen.
eral merchandise. ss.soo.707.
The weekly bank statement shows the
following changes:
Reserve, decrease ....................s11f1.45 $50
LOANS, increase ...................... 22S,5 800
legal tenders. decrease .............. 1,5ss.iOO
Deposits, decrease .................... 1880
ejaculation, increase -----..-------.--- $500
The banks now hold sl7O05,9Gi in excess
of the requirements of the Is per cent. rule.
The New York Financier says:
The statement Of the clearing house
banks Of New York city for the week end
sns April is unimDortant in its general
features, the operations Of the week being
shown In the decrease in the reserve. leav-
Ing the excess cash in banks at S17,0O5,975,
as against siss2s,s25 for the same week last
year. The excess reserve touched its lowest
point-slS.4lS on March 80. 1925. and from
<bat time began increase. standing four
weeks later at s25,270,675. But during that
time the imports of gold were In excess of
exports, and the movement from Europe
during the next month or in May amounted
In the aggresate to s3,30s.s6s The interior
movement at the same time was heavy,
the reserve of the New York banks standing
ON May 2s 1895. at $40. O05. $50. This showing
y interesting in view OF the present situa-
fion, when the total reserve of the banks
IS decreasing. and a resumption of gold ex-
ports Is announced to begin next Tuesday
by one firm. The government also has a
large sum Of money deposited with desig-
this may be made at any time. The mo move e.
ment from the interior has not been as yet
disturbing factor. Tne reserves of
down TO the required limit. and the outlook,
despite the comparisons with last year, does
The explanation of this lies in the fact fact
that the conditions are more normal, and
the locking up OF great deal Of money by
me bond transaction has counteracted the
suffering since 1892"
Total sales of stock were S6,S4S shares. in .
cluding: american Tobacco. ne. 7So: Ameri-
can Sugar, IA 100: Baltimore a. Ohio. 5000:
Manhattan Consolidated. $500, st. Paul. c.
sSo. tennessee COAL '''0' Union pacifc'
LESS ACTIVE TRADE.
The resumption Of business on the New
York Stock Exchange after the holiday was
characterized by fairly active and advanc-
tng market. The foreign exchanges were
closed on account of the Easter holidays.
and the local dealers had he speculation
entirely TO themselves. The distribution of
business was Indifferent, but important
industrials attracted the most attention.
with Tobacco especially noteworthy for ac-
tivity and erratic fiuctuation A slight gain
IN the stock was noticed at the outset but
under heavy offerings from traders the
price sagged 2 per cent. to S. rally to
6sxc quickly ensued, but the stock iefi off
AZ loss OF "A per cent. Sugar gained a
point o, on pool buying. The improved out
Hected in a gain Of , per cent in Tennessee
Coal. and under similar influences Colorado
Fuel rose l and Illinois Steel CSC. Metro
po-itan Traction was unfavorabiy affected
by rumors of an impending strike on the
system, and yielded "a per cent. to 1914 on
tiouidation. On Stock Exchange logic, Man
haitian on the foregoing development adj
vanSed "a per cent on the assumed DOS
sibiIity of increased traffic. Susquehanna
x Western preferred broke H. recovering
Ell but y per cent. of the loss. Alton &
Terre Haute advanced ga per cent. on news
pr the ratification by Its shareholders of a
lease to- the Illinois Central for ninetv-nine
years In consideration of a guaranteed an
nual dividend of pa per cent. The move
ment In the grangers and other leading
shares was confined to fractions, with gains
general The closing was strong and at the
best figures Of the day.
Although the volume of business In stock
during the week has been comparatively
4gnS partly owing TO the practical double
lacked developments of tne most sensational
order recalling 10 considerable extent the
! turp:tude OF the wreckers Of the old Cordage
company. We refer 10 the extraordinary
performance Of the managers of the Ameri-
san Tobacco Company in Contrasting within
,,,s snort taree months the passage of the reg
stock and the declaration the recent dvi-
fosnd date OF a disbursement on the common
an scrip. When the dividend was passed the
step was considered 10 warrant an investi-
Sallon ny me governing committee Of the
than probable that the recent totally unex-
pecied iberal.ty Of the directors will call
Tor rigorous Investigation in the same
body TO the strategy employed. For a
long time past the manipulation of the stock
mas .s,s,,, oesn adroit and the street mas been
Iumors OF the most conflicting character
For example, the trust had or had not COM
rot purchased the plants of important rivals.
tae price. OF its product had been raised.
o 1G bav na eIos an m n9 ria rival was alleged
suggestions foreshadowed the action taken
In regard to the dividends.
TOBACCO FLUCTUATED
Early in the week concession OF per
cent. to Ssh. occurred AT the low range the
stock was freely purchased by brokers iden-
tified with the management. and the shorts
were compelled to cover no to sozs. The finaI
sale on Tuesday the day before the dividend
meeting was sss.. After the close s5 was
freely bid The initial price on Thursday
was at the aforementioned figure. but an out
pouring OF stock caused an eventual recession
40 S9i1. Large blocks OF stock changed
hands, and intense excitement marked the
dealings. The subsequent speculation was
less important, and net gain for the week
or only a per cent. is noted. The general
market movement was Irregular but firm
undertone prevailed. and stocks were pur-
chased With more confidence than for some
time past although the dealings were strictly
professional In character. A favorable de-
veiopment was the encouragement OF gold
for shipment, despite an advancing tendency
an exchange rates. The comparative ease OF
the money market pending the April dis
burseme1t. reports OF freer movement OF
Ghe corn crop and encouraging railroad re-
turns would ordinarily have stimulated
investment demand for securities \ develop
menf OF the hrst class was the agreement en-
tered into by The steel manufacturers
to restrict production, advance prices es-
tablish rates and provide the joint selling
agency. London was not factor i'm the
market and the local spectators We're unin-
nuenced by foreign political happenings. The
erangers were in brisk demand with Bur
Engfon and Rock Island in the lead The
trade development noted above caused an
advance OF eis per cent. In Tennessee Coal
and Minnesota Iron improved about per
cent The aggregate sales were 1911
Bonds were relatively active for a half
holiday. with the Northern Pacific issues the
features at sharp gains on the announce
ment OF the declaration tina; the pan OF
reorganization was operative The general