The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1896-11-23

ounce.
The exports of specie from the port of
New York for the week amounted TO $40. 700
in gold and 1895, $50 in silver. The imports
were: Gold, s76i.O99: silver. s35.2iS; dry
goods. s1.4e4.S44; general merchandise, ST.
651, 49,.
The New York weekly bank statement
shows the following changes:
Reserve. increase. s.. sol $50
Loans. increase ACKNOWLEDGEMENTS. 9,995, 4VO
Specie. Increase. ..--.--......-....... 65OO
Legal tender, increase. l,VlS,oVO
Deposits. increase. q, 93l, 500
Circulation, decrease. 167, 200
The banks now hold 81, 305,575 in excess
of the requirements of the % per cent. rule
The new York Financier says: THE
magnificent showing made by the clear
ing house banks of New York city for the
week ending Nov. q was a matter OF sur
prise even to bankers, who had expected
a favorable statement, but had not counted
on the enormous increases which were
ported. Deposits expanded TO the amazing
figure of S2l. 937 500. which is the largest
loans ran up ss55 400. Counting from the
statement of Nov. Z. the banks have gained
s o1 IN sasn %nie The oa eae nave n money
rates is, therefore, not remarkable. 1t is
estimated that the banks gained $6,O0O.000
from the interior movement alone during
the week.
Total sales of stocks were 112.112 shares,
American Sugar. S.100: Chicago Gas. 1900;
Louisville & Nashville, 400; Reading. H.
500; Rock Island 500; st. Paul. IL. 500 Ten
nessee Coal and Iron. 400; Western Union,
$500; Wheeling q Lake Erie, 400; silver
certificates, 5000
Saturdays brief session on the New York
Stock Exchange was dominated by the
bears. who directed special pressure against
the granger group. The recent unfavorable
gross returns published and the predictions
OF continued light exhibits for some time to
come, based on the decreased movement of
grain, were the arguments advanced in ia
Of lower prices. Liquidation was evil
dent in some instances and checked a ten
dency toward Improvement in other prop
critics. Some of the low-priced stocks fig
ured prominently in the decline, notably
Reading, Missouri Pacific and Tennessee
Coal Decided weakness was also apparent
in few of the usually inactive stocks, on
very light dealings, however. Consolidated
Gas was very irregular on moderate trans
actions, but left off at a slight gain. The
bank statement was exceptionally favora-
bic, showing, for instance, increase of
81 ,931. COO in deposits. but, in view of the
decidedly easier monetary conditions, ex-
erted no appreciable influence On prices.
The closing was at the lowest or the day
at net concessions averaging a point.
PROFESSIONALS IN CONTROL.
The speculative movement of the week
was mainly shaped by the bear profession
ais and sold-out bulls. who made unremit-
ting efforts TO force out long stocks, and
precipitated decided reaction. The course
cy towards lower level. a result which
was chiefly brought abc.lt by material ex-
pansion of the short interest. The develop
ments bearing on values were mainly IA
vorable to the advocates of depression, and
the bears made special play against the
high-priced specialties for effect on the
general list The fluctuations, with few
exceptions. were extremely narrow, and the
market finally lapsed into extreme dizziness.
Continued suggestions of possible political
complications in relation TO the Cuban
question, although not widely credited. de-
TERED the general public, as well lead
ing operators, from making ventures on
the bull side and restricted the dealings.
Trade reports were Indicative of quieter
returns put a damper on efforts to advance
prices. ON the other hand, the decidedly
drop in call rates of 2la in time accommo-
dations TO per cent, well as an urgent
inquiry for prime mercantile paper. facili-
tated the carriage of stocks and offset the
efforts to induce liquidatfons. This condi-
ton would also favor operations by leading
stockholding interests against an unwieldy
short interest. The bulls contended that IL
too early to admit of the reflection in
earnings of the improved business condi-
tons. while the bears laid stress on the re-
action in grain, which, IL was alleged. would
cause a lighter movement of east-bound
tonnage. Foreigners were moderate sellers
of our stocks and bonds, being influenced
TO some extent by the hardening rates
for money abroad. The traders hammered
Sugar on successive reductions in the prices
of the various grades of the product, and
met no resistance, II, indeed, they were not
assisted by insiders. The special argument
tile action at the next session of Congress
Dealings in railway bonds on the ex-
Grange were on a considerably lighter
scale. although the over-the-counter invest
nent business was reported by leading
houses as very heavy. The failure of the
Seaboard Airline caused apprehension of
a renewal of rate hostilities.
SPECIFIC Developments I'm some properties
Inv oil
ments. Consolidated Gas advanced sharply
on a variety of bullish unconfirmed reports
and Pacific Mail responded 10 the resump-
ton of dividend payments by a substantial
Improvement.
Heading was strong on the formal organ
ization or the new company and prospects
or material reductions in rentals of leased
lines American Spirits stock rose on ma
nipulations by insiders. The general mar
ket left off weak with prices at the lowest
and showing net concessions of las per
cent. i'm the leading shares. Aggregate
Railway bonds were less active than in
the preceding week and there was an
recorded in the inactive issues. Compare
tive prices show concessions of 1sI2 per
cent. on the speculative issues, except
Reading. which was sustained by the prog
ress made in placing the property on a
more stable basis. Toledo. St Louis q
Kansas City frsts and trust receipts were
conspicuous by drop of per cent. to Go.
with a subsequent recovery TO 6s
The aggregate sales were Ss.452.OOO.
and prices iA well held. The sales aV we're
$4,000. Silver certificates were irregular
with an improving tendency to transac-
lions OF SO, 600.
The following table. prepared by L. W. Louis
Room II Board Of Trade. shows the range OF
quotations:
Open High Low Clos
ing. est. ing.
Adams Express las
alton Ierre Haute..... Is
american Express -. -. -: III
Atchison ----....----.---.-... I5Is I5s 1i% lf7s
baltimore * ohio........... 49,. -. III.
Ianaca racine ............. 80. -. -. 81