The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1896-11-01

The banks now hold ST.. Az. 425 in excess of
the requirements of the % per cent. rule.
The New York Financier says:
1.-The statement OF the associated banks
of New York for the week ending Oct 81
shows that the position of the institutions
as a whole is better than it was a week
ago. They have increased their cash
holdings and their surplus reserve, bring
ing the excess cash in banks to $i7. 49, 225
which is higher than il has been since
August last. From a banking standpoint
this indicates the result of the conserva-
tism. which has been u leading character
tstic of the situation for some time
past, although the statement does not take
in account the heavy loans which were
made Friday during the furry
The decrease in loans brings the total to
within about S.0O0.00e of lowest mark Of
the present year-Feb. 8. just before the
last bond issue-and probably reflects the
closing OF the money borrowed on gold i'm
port account. But the decrease represents
also the preparations for payments OF divi-
dends maturing this week. The actual
loans OF the banks. however are probably
larger at the present time than the state
ment indicates. The fall in call-money
rates seems to show this clearly The de-
crease In deposits the logical result
OF the operations already described. The
movement TO the interior was very light
during the week. and the losses were main
~ to the treasury. The legal tenders so
release OF funds held by importers against
gold already engaged"
Total sales of stock were 1895 shares.
including the following: Atchison. s 100:
American Sugar. q 500: Burlington g. Ouin,
Sy. $500; Chicago Gas, 800; Louisville q
Nashville, 800; Reading, 1900: ST PauI
1900. Tennessee Coal and Iron coo. ITnion
Pacific. $500; Western Union, 5000
Saturdays New York stock market prac
tlcllly consisted In Sugar, Reading ard ST
Paul, no other stock reaching the 6 an
share mark The course of prices was ir-
regular and some OF the fluctuations re-
corded I'm the principal shares were mate
rial. Lake Shore for example advancing .
per cent The early dealings were CHARGE
terized by decided strength, but reaIiza-
tons subsequently caused concessions a
slump in money rates TO 10 per cent as the
maximum with the average and closing ar
per cent. eXerted reassuring influence
The opening was strong and higher under
liberal buying for both accounts despite
lower quotations for American securities In,
London and cabled advices of a rather dis
Ing financial and political disturbances i'm
connection with Kaffirs abroad
Bay State Gas rose AS per cent. on a va
rfety OF rumors, including that of a SETTLE
ment OF all differences between the conflict
ing interests in the property. The failure
OF confirmation OF tho report up 70 the
close OF business. subsequently caused "A
sharp reaction OF 1874. The extreme ad-
vances in the other leading shares ranged
up 10 "a per cent. In Manhattan, the stock
later reacted ia per cent. and the other
market about 1 per sent. After the firsr
hour the market DeCkile very dull owing
TO uncertainty regarding the bank state
ment- The exhibit was apparently consistent
AZ. all items and was more favorable than
had been anticipated, showing an increases
OF s.. 5O2. 800 in legal reserve. but was not
reflected i'm the later trading. The closing
was Irregular. but with material net inn
proyements in "A number of leading shares
WEEKS TRADE.
The early trading of the week was
marked by continuation OF the buoyancy
that had characterized the previous week.
under the stimulus OF cheerful forecasts
OF the financial and general business out
look 10 which the animation in the cereal
markets and increased foreign demand I'm
q most important degree contributed. The
steady import movement OF gold and the
increased strength OF the resources OF the
banks and useasury also constituted a
back log 20 The operations OF the bulls. in
various departments OF general trade In
creasing activity and advancing prices IA
silttat@d The efforts OF pools In marking