The farmer and mechanic. [volume] (Raleigh, N.C.) 18??-19??, 1897-10-05

gold IS 50 Plentiful at this centre Fl
present that some OF the banks are
setting their daily balances at III.
clearing house in that metal Tn.
weekly statement Of the clearing hou~.
banks was ass interpreted favarabIv
Tie statement cearly reflected -b. pa.n-
the banks have been at III prevent anv
further heavy shriukaEe FIJI tb.s- >r--
plus reserves. Tie Withdrawals ~ d.
POSTS. $1,000 >o). is partially Offset hr
4 contraction l. loans OF A.5410n.
making a to.a. contraction for two
weeks Of SI.@2U, 300. The withdrawn,
II deposits fld an additional reflection
III the decrease IN legal tenders Of s..
442.3oo. which was offset Lv a Net
Increase Of S=95.5U0 in specie. 50 that
the actual decrease in cash was only
about 100000. The more profitable,
rates for money have induced an in
crease in circulation Of S32l. 600. Their,
is DO doubt that Withdrawals Of demos
its would have been much larger had il
not been for a falling of in the demand
for currency shipments To the South.
due to the interference with the move
ment Of the cotton crop due TO the vel
low fever guarantees. The decrease 10
the South has been offset by demand
from the eastern and middle States 10
meet October interest and dividend
payments and by New York require
ments for payments Of taxes. Today's
net gains in prices Of stocks ran from
to 3 per cent, the advance being in full
tide when the market closed.
Toiay's sharp advances have gone
far to reduce the net decline for the
week, and in some cases have wiped
them out entirely. The whole character
- tho SDdnnin TAn 1890 -A-1-4
change, the lrading on the advance be-
ing animated and the shorts covering
heavily. The week has shown a sub
sidence Of the fears Of money ~stringency.
Notwithstanding a sudden rise in the call
loan rate on Friday Of ) per cent. This
was clearly understood to be due to
temporary demand for the necessities
of the first Of October settlements.
Bank clearings Of all the cities in the
United States show a decrease from
last week of over 8 per cent, though
the increase over last year is still -
per cent, but compared with an in.
crease last week of over 81 per cent.
The market for sterling exchange has
steadily declined since Monday and gold
imports are believed to be again
minent. The weakness of excl
due to offerings of cotton , 4 esti
mating the probable dimensr rs of the
gold imports the low price for cotton
must be considered which, compared
with last years prices viii make a diff.
ference of many millions of dollars in
the balance due from abroad on cotton
exports. Imports Of general merchandis,
and dry goods at New York for the
week show an increase Of S1.SS236
over last week while the increase Of thi-
weeks eXpqrts from New York ovel
last week was only by $4,000. In con
sequence Of today's rally In prices. net
declines in very few standard railroad
stocks reacl two points on the week
and some shoW gains. Northern Pa.
ciic preferred and the Pittsburg. c.. G
and st. LOUIS stock being conspicuous
IN the latter elass.
Bonds have been much less active thar
of late and hafe resisted the decline bet
ter than stocLs,ret declines being smaller
and some issues showing gains. Tota
sales S~1G,1ou,JU0.
United States bonds are 4 to ~
higher.
The total sales Of stocks today were
800, 7G0 shares. including Atchison pre-
ferrtd $500; G. and O. 1855; Chicago
B. and @, 7.712; Erie newt 10000: l.
and N, S.430; Manhattan l., 6,220.
Missouri Pacific, 6.745; New York Cen.
trail 4,S61; Northern Pacific preferred
1918; Reading 3.4O0; Rock Island 10,
O43; St. Paul 1925; st. Paul and Ohio
$3.50; Southern Railway preferred 4.
$50: Union Pacific 1860; Chicago Gas
$4,000; Sugar 1880; T., c.. and l.. 4.
S35: Western Union 4,705; Chicago
Great Western 1890.