The Indianapolis journal., 1897-01-04

Sixty days. posted rates, S4.hfH4.S4l2 ana
s4s7d4ss; commercial bills. $4.s212-
Silver ceI tificates. 65d65l2c no sales. Bar
silver. si7sc. Mexican dollars. 5Os4c. At
London bar silver closed at 293sd per ounce
imports of dry goods and general mer-
chandise this port this week were valued
at SS,O76.J0J The imports Of specie this
week were $7o.57O. of which s42.Osi was gold.
The exports of specie were 92,2O0 silver;
no gold.
The New York weekly bank statement
shows the following changes:
Reserve. decrease -----..-..-..---..- 81 022 $50
Loans. Increase ...................... 3,702, $50
Specie, decrease ...................... 420. 400
Legal tenders increase 50 go zoo s9o
Circulation, decrease ................ lJJ,9W
The banks now hold So. .2s6 $50 in excess
OF the requirement of the - per cent. rule.
The New York Financier says: 1.-The
first bank statement of the new year is
of a very favorable character, although it
covers but five business days. and the in
crease probably represents arrangements
TO meet the large dividend disbursements
which Will be made this week, and which
aggregate in New York, inclusive of gov
ernment payments, nearly 100000. 900 for
the month. The actual gain reported by
the banks for the week was only $214,OOO
which is very much less than for any week
since election. The increase in deposits re-
fleets I'm part the movement from the inter-
ior, which is setting in towards this center
again, despite the bank failures in the
West, but the increase is also connected
with dividend disbursements. The dbSOrp-
tion OF this money is plainly shown in the
loan expansion. the total loan item stand
than reported one year ago this week. The
deposit expansion in the same time has
been $50 la 900. and the cash reserve is also
$l3JOO.OOO higher, so that the banks began
the new year in much better shape than
they did in 1896. The plethora of money
has had the effect of lowering money
rates. and the present quotations of 1l4a2
per cent. on call money, compared with 445
per cent. rate during January. 1896. Com
mercial paper quotations have dropped to
and per cent, as compared with and
per cent. for January. 1896. But the
ferent shape than at present, as trade bal
ances since that time have resulted in pill
ing up large credit balance in our favor
which has relieved the market from abb
solute collapse"
Total sales of stocks were 5S.il1 shares.
ton. $500; General electric. $500; Reading
1880: Rock Island, 900; St. Paul, 400;
Wheeling * Lake Erie. $500.
Business in stocks was again restricted
yesterday by the holiday interruption but
the tone of the market was strong through
out with the specialtes the features of the
speculation. Higher London prices for
American securities. covering of short con-
investment Inquiry for securities as a re-
suit of the January disbursements by the
banking institutions. estimated i'm
the aggregate at about 100000
ences Sugar improved slightly on a
reported advapce in the domestic refined
product and strength in foreign sugars.
General Electric advanced 15s on the eX-
pectatiOn OF increased business in furnish
ing equipment to various lines. Chicago
Gas rose point on gossip unfavorabIy af-
fecting the opposition interests; on the
other hand Consolidated Gas scored a
further break of pa per cent 70 1862 on
legisl lation. The closing was strong at inn
portant fractional net gains in most shares
THE WEEK ON CHANGE.
Although the volume OF speculation dur
ing the week abnormally light, even
making allowance for the New Year holiday.
the general tendency of prices was toward
Improvement. The movement included
some notable fluctuations in the usual lead
ing shares. The considerations bearing on
the market were varied and to an extent
conflicting, and operations as a whole were
a strong professional imprint The appar-
ent inclination of the market was not clear
despite the improvements recorded. owing
to the fact that the transactions to a con-
siderable extent reflected the evening-up of
contracts. The bears laid stress on the
Western financial and commercial disturb
ances as exemplified in frequently reported
suspensions. upon the unfavorabie railway
{ returns Tor the tnlr0 week in De-
: cember and discouraging November state
ments OF the St. Paul and Burlington. the
chance of disturbance in connection with
The Cuban imbroglio and the lack of out
side interest Furthermore. depressions in
certain stocks on specific influence were ex-
pected TO sympathetically affect the general
J list. In Manhattan sentiment was governed
by the denial OF the APPLICATION for an in
junction TO restrain the dividends due to-
day. while Delaware S Hudson on uncer-
tairty regarding the probable dividend noIi-
V touched a break nd
cred TO ne5s. The low point was within "a
traction of the extreme decline in the ante
election panic. Consolidate Gas sold off
u per cent. TO 1882. but rallied 10 i3S
The weakness in the stock was based on
continued predictions of impending hostile
legislation Another special rnoveinant oc-
CURED in Long island which recovered .
per cent on the announcement of the meas
ures that were being taken TO protect the
stock. and improve the business outlook
of the company. The bulls drew favora bic
anguries on account of the exceptionaIly
strong International trade position of The
United states. the high price of wheat
urgent demand the Disbursements by Tie
great corporations of upward of 500 900 600
considerable part of which Is expect
ed TO be invested in good stocks and bonds
and the relaxation or financial stringency
at the various foreign centers. y S.tgglng
tendency in sterling exchange Nas also ia
vorably regarded A good local investment
demand was noted in the government and
railway bond markets. a striking exception
being Long Island fours. which broke 1874
per cent. from the previous sale. The mar
ket closed strong. at slight general gains
as a result of the weeks trading. The e
gregafe sales were iS674S shares
Dealings in railway bonds Saturday were
on a limited scale but "A firm tone was dis
cernfble The sales were sf59. 600.
The bond market of the week exhibited
decided strength. although the imprfNe-
ment Was interrupted at intervals A
good investment demand Influenced ma
terlal gains In gilt edged issues.
The aggregate sales We're s. 293 coo The
prlncipal advances were. Omaha d St
LOUIS nrsts trust receipts. ~; Chicago
burlington 4 Northern ii yes. So: Northern
racine collateral trust skies. 5: Flint g.
Iere Marquette consolidated fives A. and
BunaIo Erie new sevens. per cent The
important declines were. Long Island
fours, l5A: Georgia Central fives a. and
BROOKLYN l. hrsts. ~ per cent
government bonds were fairly active and
advanced sharply The payment Of princf-
pal and interest on Pacific skies OF 1891 Is
expected TO cause increased activity in this
department The sales were sl62 900
The following table. prepared by L. w Louis
quotations: sS u
Open High Low Clos