The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1897-02-07


Circulation, decrease. 324. 900
The banks now hold $50 in excess
of the requirements of the % per cent.
rule.
The New York Financier says: 1.-The
statement of the clearing house banks of
New York for the week ending Feb. was
oil an unusually favorable character, show
5HS. as IL did, an unexpected Increase in
loans, after several weeks steady decrease
New York banks were $i91. 275. 300 which
represented a gain OF about $49, COO 600 from
the lowest point recorded. Nov. :. The loan
Total according 10 the current statement
is $iy1.'l3.600. The gain fo- the week there
fore. seems all the more surprising The
only reason for the gain seems to be the
employment OF a large volume of money
being used in the reorganization and trans
fer of several of the Northwestern and
great sums of money and New York Of
Tered the most advantageous market in this
connection The other items in the state
ment reveal the effect of the heavy loan
expansion The banks increase their de-
pOsits and decrease their cash holdings.
making the total change in these two
1temS OF $sS3O.OcJ. which corresponds close
~ with the loan expansion. Ii is roti,eaanle
that the circulation of the banks shrunk
sharply, bringing the total circulation down
10 slo.tN,,VO decrease OF nearly SitFU,G0O
since October. AS this circulation has been
retired largely within the past four weeks
the decrease in cash holdings may be due
IN part To the deposit of legals with the
treasury to retire the bank notes The re-
ceipts or currency for the past week have
been slack and the decrease in the availa-
bic cash held by the New York banks
makes the question of rates of money an
interesting one. 1t does not seem probable
that current decrease will have anvthing
ike permanent influence on current rates
the outcome depending largely on the dis
position OF the funds withdrawn. The cash
reserve of the banks Is still S196. $50 500. and
the excess reserve does not indicate either
a pressing demand for money or an in
centive TO higher rates.
DEALINGS ON SMALL SCALE.
The total sales of stocks Saturday were
5i.6e0 shares. including: American Sugar.
14loo; Louisville & Nashville. $500; North
ern Pacific. 800
There was little or Importance in the
transactions on New York Stock Exchange
Saturday, the dealings being on a small
scale and the fluctuations of prices being
within narrow limits. closing weak. The
market has proved dull throughout the
week, in spite of the hopes entertained ar
the beginning OF a revival in trade Sat
Crdays opening proved irregular but gen
eralIy heavy under much the same infiu-
enccS as Friday. \ feeling OF uneasiness
centered about the Industrial shares un-
doubtedly due TO the proceedings of the
legislative trust Investigation in New York
city. In the railway list also the publication
or some disappointing traffic statements of
the southwestern lines exerted a depress-
Ing influence With 81; Louis Southwestern.
Louisville & Nashville and Southern pre-
ferred leading the decline. The industrials
found fairly good support, but figured
less prominently in the dealings than FRI
day. IL was only in the final hour that the
stock exhibited any decided tone and then
the professional traders started TO cover ex-
tsnsively in the industrials. In consequence
sugar. Leather preferred and American
Spirits, both common and preferred i'm
proved on an average or about a point A
Re" o. the railway stocks also came into