The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1896-01-27

49o; commercial bills. s4sss4.
Bar silver, &c. Mexican dollars, 52$tc.
AT London bar silver was 30ssd per ounce.
Exports OF specie from the port of New
York for the week amounted to s.. .533 In
gold and sl.102.6o5 in silver. The imports
were: Gold, S4sS.ss7; silver. S62,5@; dry
goods. s3.sl1,5i7; general merchandise. 81
zs3.947.
The weekly bank statement shows the fol-
lowing changes:
Reserve. increase. s. S32. $50
Loans, decrease ACKNOWLEDGEMENT. 6,O9S,300
Specie. increase ..................... 2,ooO, 400
Legal-tenders Increase .......... 2,116.sQ0
Deposits, decrease ...........-...... 2, 500, Co
Circulation, decrease ................. 1880
The banks now hold SCI SIS. 500 in excess
OF the requirements of the % per cent. rule.
The New York Financler says of the
week: 1.-The statement of the associated
banks of New York city for the week end
ing Jan. % is a repetition, so far as the
general showing of the several items is con-
cerned of the previous weeks exhibit. The
steady decrease Of loans, were it not for
the unusual conditions now prevailing.
might be regarded as one OF the most TN
favorable symptoms which have been shown
for months. and the contraction in man
ner should be interpreted disturbing
factor. The liquidation in the pas live
weeks has been in excess of forty-five nil
lions, and the total loans at the end of the
current week were seventy-iive millions less
than reported last September, wnen the
. highest mark ever recorded in the history or
New York banks was reached. There is no
doubt that the banks are nolding their
business TO meet the new lond Ian. The
decrease in the deposit item reflects the
withdrawals Of legals for gold export pur-
traction IN loans. With total excess of
reserve of so 1000. there should be no diff
1ic.Iity in at Eorbing a considerable. rorti,n
Of the new bonds on the part of the New
York banks, IL such an investment is de-
sired sir ID 1T II is worthy Of note ting of the the
banks. six institutions hold $31. n5.0O0. or
20 per cent. of the total The holdings Of
the National City Bank of nearly 3d.
100000 constitute over is per cent. of all
the specie in the sixty-sjx Kew York clear
ing-house banks.
Saturday. including: American Sugar 1880;
American Tobacco, $500; Atchison, 2,lOO;
heanfsen s Gsnera o E MsTCar 2 gs
cific, 900; Manhattan Consolidated 1900;
Reading. $500; Rock Island. 400; st. Paul.
Tennessee Coal and Iron. 1000; United States
Leather preferred, 1900: Western Union.
RETURNING CONFIDENCE.
The course Of Saturdays speculation de-
noted a return OF confidence, as to the i'm
mediate outlook on the part of the financial
community. The improvement that oc-
Cured was In a fair measure due TO actual
buyers of stocks. although professional OPP
erations figured for the greater part of the
days total of business. The volume of
trading was relatively above the recent av-
erage. A slight hesitancy was noted at the
outset. which was due to the failure of the
London market for Americans to respond to
the strong closing prices at New York
Friday. The market, however, soon took
on a firm tone. and prices generally adj
vanced on buying for both accounts the
gains ranging from to per cent Final
prices, with one or two unimportant ex-
ceptions, were at the highest of the day.
Although the market of the week has re-
hected a more cheerful temper in Wall
street. conservative people are not yet
tant ventures or enterprises while the
business OF the country and opera
liable P0n any yne mosn To- bs mate re
tally affected by every chance political
rumor. At the moment undoubtedly the do
aspect, and that Is sufficient for the rapid
ly changing operations of. the professional
anthracite coal presidents on Thursday, the
outcome Of which is still to be determined,
there have been few domestic market de-
velopments or the first class. Money on
call has continued easy. and indications of
an increasing disposition on the part of
lenders TO .offer time funds are beginning
to be noted, although the demand for thir-
ty-day accommodation is still largely in
excess of the supply. An improved condi-
ton Of the market for commercial paper is
gratifying although Discrimination as to
quality Is still unusually keen. There is
conviction on all sides that danger of
incidental to Withdrawals from the banks
by the successful bidders for the new gov
eminent loan is unlikely. Regarding the
loan itself the best informed financiers
express even greater confidence than here
tofore as to its success AT the same time
1t Is not believed that more than one quar-
ter of the domestic subscriptions will be
made from outside Of New York.
SPECULATIVE FEATURE.
Tobacco was the only speculative feature
OF the week. Purchases by the factions con-
tending for control OF the company's affairs
caused an advance OF per cent in its mar
ket price, in anticipation of the closing of
the books for the annual election. two weeks
hence. AT one time a premium OF 4 per
cent.was exacted for of the stock After
closing of the books stock was thrown on
the market. and this.r together with vigor-
GUS raiding by the bears. caused a slump to
1ft. At the low price the offerings were
taken by insuers, and the price improved to
1Iis at the close. The general speculation
as a whole. was extremely dull and profes,
slonal, and the range of quotations narrow
Prices which had been working irregularly
higher level. when the rumors OF an alliance
between Russia and Turkey first appeared
receded all around. The subsistence of un-
easiness on this point eventually was fol-
lowed by repurchases OF our securities for
both local and foreign account Toward the
- ~ wen larry sc oOtadi ouyluS
orders were executed, and shorts also fell
Into line Final sales show general net
gains The more important OF the advances
In the active list were in Sugar. as; Man
haitian, 8; New Jersey Central. 4; St. Paul
ga; burlington. 3s and Rock Island 3L In
tne less active class New York, Chicago &
81 Louis first preferred rose SIS the dec
laratior OF an annual dividend OF per cent. !:
New YORK, Chicago * St. Louis second pre-
terred, 3; Baltimore a. Ohio ), and Consoli-
aateu Gas, rs per cent. Many other SUBJ
stahtial improvements occurred The ag-
BIeSate sales We're So, 139 shares.
Inc railway bond market, Saturday, was
quite animated for half holiday, and the
dealings were well distributed The total
or business distributed was ST. Ill ,001 Higher
prices Tor the week were recorded in ali of
the prominent speculative railway and mis-
celaneous mortg~ ges, particularly the
Reading issues. OF the latter the fours
trust receipts, are up pa: tours. unstamped
a.; tours. first incomes. first assessment
paid. Us; Tours. seconds. "a and threes 2as
per ceat- These bonds favorably in
nuenced by TIE progress made toward re-
organization and by the bener that a har-
monious agreement will be reached by the
anthracite coal presidents. The aggregate
safes were S. 90oo.
AS compared with the quotations for gov
eminent bonds ruling at the close OF the
preceding week, Saturdays prices record
concessions OF ! per cent In new tours and
q fraction in the other issues. Sales OF
$4,000 were noted. including transactions in
the nav coupon f0urs at material advances
over the bid prices State securities were
neglected. the dealings footing up only
49,