The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1896-10-11


Specie, increase ......--.....-...... z, o49,,5OU
Legal tenders, decrease .............. 263S, 200
deposits, increase ................... o,loI, tVO
Circulation, increase .................. 335, 40U
The banks now hold SIS, 200 in excess
of the requirements of the % per cent.
rule
The New York Financier says: The
statement of the clearing house banks of
New York city for the week ending Oct.
10 reflects the operations of an active week.
Despite the facts that the shipments of
currency to the interior for the past seven
days exceeded S4,000,000 the banks report
no loss of cash; in fact there was an actual
gain of s1I,100, the increase in specie coun-
teractng the loss of s., 6Ss, 200 in legal ten
ders. A. the imports of gold during the
period covered were about equal to interior
shipments, the small change in cash
serve does not appear a all illogical. Loans
showed unusual expansion of So, 227, 300,
which is n favorable indication although
the increase is probably due to further
preparations now pending for increased
gold imports. Aside from this. however,
there have been number of local causes
for loan expansion. The favorable feature
of the statement is an increase of So, 751. 700
4A.So0 nearly 81, 100000 in excess of
loans.
INCREASE IN DEPOSITS.
The increased deposits called for an adj
ditional reserve liability and the banks re-
port $926825 less surplus casn than at the
serve is still SO. 500 200, which is larger than
for the corresponding week last year by
over M000,G00. The operations of the week
including, as they did a temporary rise in
the local money market due as much as
anything else to demand for cash from
the West and South, together with the
rapid fan in sterling exchange. which is
an incident closely connected with this de-
mand, presage continuance of gold inn
ports from Europe. The trade balances are
largely ia our favor and must continue so
for some time TO come. 1t is only natural
Under these conditions that the funds
drawn from New York should be replaced
by remittances from abroad, and conserva-
tive bankers would not be surprised if this
second movement exceeded So, 900, Co., and
unless unforeseen circumstances prevent,
the total will probably be doubled soon OF
course, an advance in foreign money CEN
imports
surpassed the recent Saturday average rec
ora III some shares, and notably in Sugar
over 81 5 eb, Ms ~, onsar lea WIN 1
aggregate transactions. The stock was
again the speculative pivot, the general list
following its main movements. The mar
ket displayed considerable feverishness, and
as usual for time past. reflected
chiefly professional operations Aside from
Sugar, activity conferred in the railway
properties. In the early dealings there was
g show of strength, but antcpations Of an
unfavorable bank statement and the state
ment of an advance of l per cent to per
cent: in the rate of discount OF the Imperial
Bank OF Germany, We're made the text
for a raid on prices by the bears.
Realizations helped to accelerate the de-
Ginning movement. The actual exhibit of
averages of the associated banks more
favorable than the forecast, and its publ
cation was the turning point In the specu-
laton In the early trading Sugar was con-
spicuous for irregularity. IT advanced 1ss,
reacted about point and rallied Ia from
the low level. Manhattan and Reading
dropped about 2 per cent each. and the
first mentioned made only an indifferent
rally The recoveries in the final hour ex-
tended to about per cent. in Reading and
Burlington. The closing was steady AT
fractional net lesses In most instances
The railway bond market exhibited con-
siderable weakness. with the Reading and
Atchison issues the chief sufferers. The