The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1896-04-20

40; commercial bills. A.S7.
Bar silver. 67Ac; Mexican dollars, 5ic. At
London bar silver closed at Bid per ounce.
Exports Of specie for the week amounted 10
$1.072. 600 in gold and $3.50. $50 In silver. The
imports were: Gold. 1924; silver, sl55. 10;
dry goods. 81. os5. 92i; general merchandise. 81
Sz7.907.
The New York weekly bank statement
shows the following changes:
Reserve. increase sos. 100
Snsa.is. increase s9t, W ~
Legal tenders. increase .................. go, 100
deposits, increase %5,6DO
Circulation. Increase ....-.....-...-.. 10000
The banks now hold SIS. 1898 in excess Of
the requirements OF the 25-oer-cent. rule The
New York Financier says:
THE statement of the associated banks
OF New York city for the week ending
April Is shows that the receipts OF currency
during the week from the interior were
ughter than had been estimated. The ac-
tual net Increase in the cash holdings of
the banks only amounts TO s4s4.5C0, and, as
the weeks receipts from domestic sources
nave barely exceeded $1,000, 600. In general
business circles the week indicates a gain,
cities as west of the Mississippi valley. In
that section, and also in Baltimore and
Pittsburg. there has been extensive retail
buying. and this has naturally resulted i'm
= better demand at wholesale. The general
tone OF the financial week. however. indi-
S&ttS that LHtIt > HO dDdltiHtnl III the Dis
most universal disposition to deal with uh-
usual conservatism and not to anticipate
future wants. The fact. however, that the
country bank c.earances for the week are
8 per cent greater than the preceding one,
and 5z per cent. larger than the same week
= ers year ans ago, i rs ev vosIm OF a SLOW but , gen.
out-of-town remittances to New York reach
any very considerable magnitude, Ii Is like
~ TO result in the Secretary of the Treasury
calling on the depository banks to turn
over furtner Instruments OF the $12. $4,000,
which they still hold on the bond account.
Inc depository banks originally held 3d.
10000. and should the remaining $l2, 900, coo
be called for IL would naturally stiffen the
money market and lessen gold shipments.
ments from the West have been heavy, and
had undoubtedly an offset in remittances of
counts Manufacturing interests are re-
sponslole Tor this demand which has played
counting OF commercial paper"
TRUSTS IN TIL LEAD.
The speculation in stocks Saturday CEN
tered in the industrials. covering OF shorts
being the chief motive power. Only two
stocks. Sugar and Tobacco. reached note
worthy activity. The du.lness in the regular
railway list can be figured from the fact
that St Paul was the most active in the
group, with only 3,4O shares. Substantial
advances were scored In the industrials as q
result of the covering of shorts referred to.
Sugar was the pivotal stock and also led
the entire market IN point OF ACTIVITY. In
side purchases started a rush by the bears
with the effect Of causing a 2 per cent adj
vance Tobacco jumped 3s to u and receded
list. the Gransers. Missouri Paci haS.@ sas
Kansas q Texas preferred, gained sharp
fractions and other important shares Inn
active. with prices ruling at the top.
The movement of the stock market dur
eneourasins to 9TH the 1 owners ersn and d h sos mai q;
securities. The continued and Increasing
ease of money. the more seasonabie
hension of a revival of gold exports on an
extensive scale, more favorable advices re-
garding crop indications and fairy salts
factory returns of railroad earnings have
all contributed toward a more cheerful
speculative sentiment. Additional crafty
Ance of pressure of commercial paper on
the market and a more general disposition
on the part OF the bankers and money
lenders to discount the choice grades and
indications of revival of buying by COM
mission, houses and by London A note
worthy feature has been comparative ac-
tivity in q great many Of the specialties
and usually active shares. but II Is still to
be regretted that the attention of operators
IS more particularly bent on the industrials.
Conservative hnanciers prefer TO take an
attitude OF caution during the tendency OF
wiid manipulation IN the industrials.. while
to remain much In the background. They
are innuenced by a desire to see more
platforms Of the respective political parties,
and also are disposed to restrict invest
ments until the season has advanced sufi-
GENTLY to enable an intelligent estimate of
the crop outcome to be made. Reports re-
garding the commercial situation are more
encouraging. but there is still room for Inn
proyement, and in. a great many cases the
backwardness of the spring has resulted in
an accumulation OF stocks. The opinion is
treated, so far as Intervention by this gov
eminent is concerned. with conservatism.
BETTER FOR CHANGERS.
ohicials OF the great standard railway
systems say that while the work of seeding
has been delayed by copious rains in the
great crop producing sections of the coun-
try. the condition is very much more ia
vorable than If early seeding had been
general and the soil had lacked the neces-
sary moisture The gains among the
specialties were material in most cases,
and in the railways the grangers and in
ternational shares recorded noteworthy i'm
provement- The heavy and almost unpre-
cedented glut OF money in London encour-
ages expectations OF increased purchases
of our securities in the near future. Buy
ing for this account during the week in
cluded southern hves, Erie generals. Cnesa-
Northern Pacific issues. The advance IN
prices illuminated on Thursday, and in the
airy movement occurred. due chiefly to reaii-
zation of profits The upward movement,
however. was resumed on Saturday. when
covering OF shorts again advanced prices.
and the closing was at about the top level.
Sugar was the main feature OF the specula-
ton. and advanced 61a per cent, to Isis.
Subsequently profit taking caused a reac-
ton to 123, but the stock left of at 1851.
The early closing OF the books for the
dividends on Tobacco and a decided search
~ OF the stock for loaning purposes. a
premium OF y per cent. being exacted
for use, caused an advance of PA
TO ssh. Revived rumors OF injunctions re-
suited In a decline to 81. The first transac-
ton ex. dividend was at Il, against 81, the
previous days closing. Later a decline oc-
Cured 70 TIL. then a rally 10 a. The mai
transaction was at IL. Trading in the scrip
was noted at about a parity with the price OF
the stock The Lead shares were exception
ally strong on improved trade conditions and
expectation of a dividend disbursement on
the common stock. Settlements between the
Northern Pacific managers and the Chicago
& Northern Pacific interests and between the
ST. Louis 4 San Francisco and Atchison in
terests regarding matters at issue. and the
publication OF the reorganization plan OF the
ST. Louis & San Francisco company require
mention The aggregate sales were &c. al
shares
Trading In bonds Saturday footed up
$4,000. an unusually large total for a Satur-
day The market was firm and steady, and
slight gains we're noted In some issues. The
market during the week ruled higher. and
was favorably affected by foreign purchases
and by a good local investment demand.
southern lives gained 3 per cent. Material
Improvement was also scored in other Pacific
prominent bonds. The sales were SO. 500. 600.
GOyernmfuf bonds were strong and higher