The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1896-05-25

rates. Assa4ss and s4ss11a4s0; commercial
bills. $i7.
Bar silver, Csc: Mexican dollars. 53lsc. At
London bar silver closed at Bad per ounce
Exports OF specie from the port of New
York for the week amounted 10 s2.759.0Oo in
gold and sl.0l6.650 in silver. The imports
were: Gold. sls.S7; silver. $685.; dry goods.
sl52s.sos: general merchandise. ss.452.6OO
The New York bank statement shows the
following changes:
Reserve. Increase -, -. %
Loans decrease .......-...........'...- o'voy'0v
Specie, increase ....................... 1,4ZIvoV
Legal tenders, increase -.......-..... LOS w
rspoii.s; decrease 1905 Ia
The banks now hold 81. 70l. 800 in excess OF
the requirements of the p per cent. rule.
The New York Financier says:
The decrease of $305s.O00 in loans is an
unfavorable feature OF the statement of the
associated banks OF New York city for the
week ending May p. Viewed in the light Of
the expansion which has been noted in that
item OF late. the sudden falling of is not
easy OF explanation. 1t does not seem prob
able that the check shown of the current ex-
pansion will DE more than temporary, since
the increase of only s31.OO0000 this season
compares with total expansion OF s42 go 600
last year, made during a period covering
about twenty-five weeks The contracStar. of
The current week, however. argues les
SEEMING demand. and indicates further heavy
exports of gold soon- The banks gained in
cash during the week s2.SS.5O0. This gain
in the face of exports of s2.7oo.oOo. The ad-
vance in the price of domestic exchange at
the larger commercial centers indicates
that the movement has not run its course
yet, although the Southern banks are now
coming into the market for loans
Total sales of stocks were s2,lT shares, in
Guiding the fol-owlng American TOBACCO.
$500: american Sugar. 1890; Burlington &
Quincy, 1000. Chicago Gas. 800; Louisville
q Nashville. LOO; st. Paul. 5.6eO.
FIRM SATURDAY MARKET.
Although the volume of business in stocks
on the New York Exchange yesterday was
only moderate. the market displayed con-
siderable strength. No assistance in shap-
ing the course of prices was received from
London. owing TO the c.ese observance Of
the whitsuntide holidays Monday will also
be holiday at that center. While the usual
covering movement incidental to Saturday
accounted chiefly for the firmness of tone.
some moderate commission house purchases
were also noted. Industrials as group
were the features in point of activity and
extent of fiuctuation. but the greatest ag-
gressiveness was displayed by Manhattan
The decision OF the supreme Court against
the constitutionality or the rapid transit act
has caused decided reversal OF sentiment
regarding the stock. particularly the
New York financial community at large had
not expected any such action The stock
advance OF "a per cent. TO 107A. General
Electric was favorably affected by the de-
cision also. as the prospect Of remunera-
tive contract with the Manhattan is con-
sidered to have been greatly improved there
by The bullish gossip as TO probable widen
Ing OF the scope of the company's opera tons
is also current The result was an advance
OF 2$ per cent. Consolidated Gas and the
Cordage shares stiffened sharply. and high
trials. aside from Laciede Gas, which broke
Ia per cent on LIQUIDATION by holders tired
Of the Protracted delay in the nti-
ter. ToDacco rose small fraction
early, but in the closing dealings g
ysr c aea to 81 the ane On d p4o
sransers, louisville & Nashville and South
ern preferred absorbed the limited interest
in the regular railway list and made general
progress toward a higher level. The last
mentioned rose rs per cent, but did not
cinnati. Chicago & st. Louis Jumped rs per
cent. on light dealings and the Southwest
ems gained important fractions. Inc clos
al Improvements
The course of prices during the week has
been irregu,ar and the specmaa|. 5n mSve-
sional dealers continue to make the fiuctua-
lions, being compelled TO dilate 10 the ex-
bilities. in the absence OF immediate germane
considerations The gold Withdrawals were
utilized as a speculative argument fully as
fell short OF the outflow Of the previous
week some uneasiness IS manifested over the
decreasing treasury gold reserve.
STERLING EXCHANGE STRONG.
Sterling exchange rates were well held
throughout and toward the close the market
$4.ss. Long bills and cables were also slight
~ higher and expectations of considerable
effiux OF the yellow metal this week are gen.
eral. Foreign operations were a limited
scale and were mainly for the short account,
except in Northern Pacific issues. round
amounts OF those securities being taken for
European account. IN addition TO consid-
cradle block market in London by Mr. J. p.
Morgan. There was dearth Of news hav-
ing a general bearing on the market The
crops were in the main satisfactory. Reports
from all the large milling and farming in.
terests OF the Northwest point to a reduced
up TO date, but the advices received by the
large SPECTATORS which are almost Away.
more accurate, have Induced selling on lh
theory OF a large crop OF spring wheat ant
an average crop OF winter wheat. Corn has
not started to move 20 any noteworthy. ex
tent. but there is believed 10 be every indi
cation OF decided change in this respec
during the next thirty days. The marke
generally displayed a more decided tone II
the closing deals. and advances in prices
were made and especial movements beins
noted in some industrials on strong manipu
lation- The speculation In this group wa
the feature OF the market, with Sugar re
gaining its old-time prominence. The stool
ran Of ga per cent. early. 10 40. but wa.
taken vigorously In hand and rose 10 Us
closing at about the best. Tobacco left on n
66h. gain OF IL per cent. after earl,
advance 10 6Sk- The rubber shares were IA
vorably affected by the reconciliation anon,
leading interests, precluding a contest a
the annual meeting early In the week. Afte
drop OF per cent. 70 l00n1o0h. severn
rallies and reactions occurred until near TIT
close, when rise &C l07A took place. TIL
speculation OF the week left OF strong. Will
the standard shares recording net gains o
11lh Ter cent.
Railway bonds we're dun, with no noteworth,
change I'm prices The sales were 1851, 000
The market during the week was quite firm
foreign orders being executed In some prom
inent issues. including Southern fives an,
the Northern Pacthcs. The changes shoy
net gains extending TO 21S per cent in Pitts
show gains OF point or thereabouts. Tn,
Government bonds we're quiet. but price
were web held. The transactions were sl57,
co. state bonds were without NOTABLE
change in dealings OF $1,000. chiefly Virginia
The following table prepared by L. w
Louis. Room q. Board OF Trade. shows tn.
range or quotations.
Open High Low Clos
Ing est. est ing