The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1896-02-17

days; posted rates, A-S7t4SS and $4SS1zq
4ss; commercial bills, $4s51z.
Bar silver. s7ssc: Mexican dollars. 5sLc.
Exports Of specie for the week amounted
20 $4,000 in gold and ss7 .s5 in silver. The
imports were: Gold. S.4S7 .731; silver. sJ6.O6i;
dry goods. S.45s.0S8; general merchandise.
b. 405. $50.
The weekly bank statement shows the fol-
lowing changes:
Reserve. decrease s, 1863, $50
Loans, increase 3,311, 800
Specle, decrease l,lfz,0W
Lesal tenders increase .-..-..-...... 5,SH.2V
deposits, increase --.-.-......-... 26l,OOO
circulation, decrease -..........-.... 1884 400
The banks now hold SO, s1s.s75 in excess of
the requirements of the Is per cent. rule.
The New York Financier says:
The statement of the associated banks
of New York city for the week ending
Feb. Is Is to be regarded as favorable.
although it is not exactly what had been
expected. I'm increase Of 1871, 300 in the
loan itself, for instance, would be taken
ordinarily TO mean that the business was
expanding. but it is not safe 70 Judge a
sudden increase in loans following a govern
ment bond issue as indicative of such a
revival. The sudden change in cash hold
inss was. of course, to have been anticipated.
but the bank report Is a little belated in
covering the entire week. The treasury
has. since one week ago Saturday, received
IN me 0elXlDOTQOOQ OF &D,UJ,OJ IN specie.
This does not all come from the banks, but
1t Is TO be doubted whether their payments
constituted only the amount shown in the
statement. The six national banks, act
ing as government repositories now hold,
according TO close estimates, from 5000, 600
TO 80. O00,0 900 treasury gold. This is secured
to the government by special deposits Of
United States bonds. The legaI-tepder in
crease of S,S+4.2o was brought about In
pau by the excess OF interior receipts, and
by operating with the treasury on bond ac-
GOu0I.
Total sales of stocks were 1o4. 300 shares,
including American Sugar. 21.so0; American
Tot -. 1890: Burlington, 1000; Chicago
Gas. 10; General Electric. 400; Louisville
& Nashville, $500; Manhattan Consolidated,
100; Missouri sOo. Paciic' 2;@o Sa 9sie a. Lea LEAD
400: United States Leather preferred. 5.400;
Western Union, 1900; Wheeling & Lake
Erie, $500.
HEAVY STOCK MARKET.
Decided heaviness characterized the final
Trading of the week on New York Change.
This condition resulted partly from the eff
forts of the professional dealers. and to a
less extent from liquidation for both do
mestic and foreign account. Manhattan,
Tobacco and Leather preferred were the
features of the speculation and displayed
notable weakness on moderate offerings.
The emphatic denials of the recent favor
able rumors in circulation about Manhattan
and the unfavorable character of the quar-
terly report of earnings. published Today.
provoked a vigorous and effective attack
by the traders The stock dropped SA per
cent TO 1044, after an early gain of a point.
The professionals raided Tobacco on the &C.
lection OF realizing by insiders incidental to
che encouraging annual statement CT op-
erations- The resulting loss reached 2% per
cent, with a subsequent rally Of y per cent.
a decline OF ~ per cent in Leathsr pre-
the leather trade and of large recent sales
by the company. caused some surprise. but
~ so9m a sc the Drousn, Out .he 1tn az,
against the stock. The concessions in he
general market were mainly fractional.
sdsance e"P in forei sD0q bee Z a pO1nt do 9n E Idr'9 rer
lined sugars. but eventually lost the gain in
sympathy. with the weakness IN the other
shares. The closing was moderately active
The weeks speculation was unsatisfac-
tory TO all but the brokers. who devoted
their exclusive attention to quick turns in
the market. There was general complaint
among commission houses over the dull
replenishing the gold reserve of the treas
ury, Incidental to the latest government
bond issue and the reports and gossip in
Huence in Wall street. In the last few
days II has become clear TO experienced
hnanciers that the net gold receipts TO the
1ion-dollar issue will fall considerably short
OF early anticipations, excited by the ex-
ceptionally large oversubscriptions. This.
- - daC " tiC tdCL that "a IdlTiY
large proportion. of the successful bidders
Will in all probability draw their gold from
ehe treasury. and thus defeat the very OBJ
Ject Of the loan. Investors have adopted
q cautious policy until the course of the
money, exchange and mercantile paper
markets can be more clearly forecasted
&hon a. Picseht
THE FREE-sMvER DEFEAT.
The failure of the free-silver defeat in
Congress to stimulate foreign purc bases OF
pur securities and the selling for the same
interest attributed to increased friction
over the Transvaal situation, together with
the predictie Of prominent European
nnanciers of Aearly sharp revival of gold
exports. exert a depressing influence on
the local speculative leaders. Trade reports
are less encouraging. although returns OF
railroad traffic are mainly favorable. The
general market movement has been fairly
active; In spite OF the holiday interruption,
and the course of prices erratic. The in.
dustrials attracted the greatest attention.
with Sugar and Tobacco foremost and fiuc,
suauns wiaeiy. evidence OF active manipu-
aation by importers was manifest in each
case The frst-named was marked nm 3
Der cent, to I5is. in anticipation of the
early declaration OF the regular dividends
A reaction to lila followed on the intro.
duction of a bill in the United States SEN
ate providing for the removal or the differ
entail on the staple. Subsequently. on
successive advances in foreign and domestic
grades OF the staple, the price rallied to
ll3tS Inc annual report OF the Amer
lean Tobacco Company was much more
favorable than the street anticipated
ana covering OF shorts coincident with its
551z. the early low point A reaction to 7SsS
occurred on realizing sales, but the net gain
was 3S per cent. Manhattan jumped 5 points.
20 1874. on reports OF a lease TO the Metro
politan Traction Company. Denials OF the
story and the unfavorable report for the
december quarter were responsible for n
slump TO lefz4- The final quotation was 1861.
The aggregate sales were 1,2S9, 50i shares.
The railway bond market. Saturday. was
prices. The dealings amounted to s6O9. O0
The speculation of the week was moderate
IN volume and a firm tone prevailed. al
tnougn some irregularity in values was
uoied- Tne total business was s.. 12. 900.
me market Tor government bonds was
strong. with the exception OF y per
cent. drop In the old tours. Marked strength
ana exceptional activity characterized the
dealings In the new fours, coupon. A single
aggregate sales reached 81 .039. 600. For the
week the unusually large total OF s. .2s7,O 600
was recorded. the business being chiefly in
tne new Tours. coupon. Slight Concessions in
prices were generally made and reports Of
the liquidation or interests that had secured
Q large proportion OF the new loan were
current. state securities were a shade higher
on purchases OF $50 .0Ge.
Following were the closing quotations on
the New York exchange:
esSl'Son - 16L
cren7 Ixtrtss las
Alton Il Terre Hsute IS
american Express ,Ir21k
Baltimore x Ohio as
Canada Pacific