The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1897-07-11

New York for the week amounted to SS72-
AIS in silver and $93O2 in gold. The imports
were: Gold, $S7.6S6; silver $49,4l1; general
merchandise, $S372,974; dry goods 81, 429, 3O7.
The New York weekly bank statement
shows the following changes:
Res rye, decrease ....... s235O0
SNoci' i lorettSe ''''''.'............. lOoS0O0
2peclS increase ....................... $500
Legal tenders, increase ............. $4,000
OePoSSIS, increase ACKNOWLEDGEMENT. 269S 800
circulation, increase ................ l7W
- The banks now hold $41, 361. $40 in excess of
the requirements of the 25-per-cent rule.
The New York Financer says: Coming
AFTER the unprecedented expansions noted
for the week ending July 3, the bank state
ment for the current week exhibits but
modest &C changes. That there is still a de-
1nni5and Tor money, the increase of $1,05S,-
200 in loans clearly shows. A comparison
or the returns of the sixty-fve clearing
mouse banks individually reveals the fact
that thirty-siX have Increased and TWENTY
nine have decreased their loans, the
changes, with one or two exceptions. being
unimportant. But while loans are increas
1ng deposits for the week have exceeded
them in volume. the gain for the past seven
hold $642,60O more in cash than on July g.
I'he effect OF these operations has been to
kThe changes in deposit of some of the
Ebanks for the week have been much larger
than haI,, ordinary at least six of the banks
tshowing increases or decreases of two mil
Mons each, which reflects probably the
snl1ting or funds incident to July settle
ments. This has changed the reserve per
cottages of several of the banks materially
one, state institution required by law to
hold only 10 per cent. reserve, having over
shape of cash. The situation however. is
Pbf more orr ta promise than than indicated by
large business throughout the
South and West report a good inquiry
going into the cotton States for crop bur
poses. The money on call In New York is
much more concentrated than usual, and
II is said to be a fact that one of the larg-
est institutions has nearly $4,000 900 cash
outstanding In this way This Is not i'm
portant except to show that the market
may be sensitive to control once that
changes in rates begin. Bankers. however
money rates for the present as the supply
OF funds not only in New York, but else
where as we'll is far in excess of the de-
nand IT is worthy of mention. not as haV-
Ing bearing on the statement but as
breaking long decrease. that the crcula-
increase this week. after a steady shrink
age of eight months, during which there
has been loss of about 100000 in this
The total sales of stocks Saturday were
b4,S62 shares, including: American Tobac-
co, 5000; American Sugar, II, 100; Burling-
ton x Quincy, $500; st. Paul, 7,100.
MARKET ALMOST DESERTED
Saturdays market for stocks was devoid
of interest. The two hours of trading on
Saturday lack the usual degree of activity
as a rule. 1t was a holiday on the London
Exchange, set apart to housekeeping The
usual tone impaired to the opening in New
York by London was lacking The heated
term has driven many active operators in
the market out of town and the attend
ance on the exchange was small. Add to
these drawbacks to activity the fact that
the whole temper of the stock market has
taken on a waiting disposition would-be
buyers and would-be sellers are both scarce
ana when they appeared they found them
selves Tar apart In their respective ideas of
prices, The consequence was that transac-
tons on the exchange in the aggregate
reached barely half a hundred thousand
shares sold and one-fourth of this amount
was Sugar. This stock was erratic during
the day on the conflicting rumors rpga rd2
ing the tariff, but did not move over a Very
wide range. It fuctuated abovs Friday
nlsht close during the whole session, at
tracGlonal net gain. Only ten other stocks
were dealt in to the extent of a. thousand
Shares. The grangers were most active next
10 sugar ana enjoyed continued benefit
from the reports of good crop prospects
New York Central was active and higher
on aGeou IN, or the persistence of the rumor
that its leading interests were about to Sc
cure control OF the Lahigh Valley rail
way. St. Paul was sustained bV the frst
week statement OF gross earnings showing
an increase OF over $1,000. The Rubber
shares were heavy, the preferred losing
points and the common a point on the res
tgnauon OF a prominent director and re-
newed rumors of differences in the control
The close showed a majority Of stocl<e a
small fraction higher.
The stock market has remained in = semi
lethargic condition during the week char
actertstic OF the normal midsummer mar
ket, but which many oversanguIne dealers
IN stocks had prophesied would be absent
this summer. There have been indications
OF strength In the market several days dur
ing the week. but the upward movement of
prices was attained on very light transac-
tons and the intervening declines were e.
fected almost as easily. The closing out OF
accounts TO take profits preparatory To n
holiday trip Of a single operator was an
effective influence on the market for one
day The commission house business which
has reflected the growing interest I'm thH
market by the outside public up to last
week has practically ceased. The heavy
buying by large capital which sustained
the market for so many weeks is no longer
in evidence, and the conclusion Of dealers
is obviously that II is prudent for the stock
market 10 wait for general conditions 10
come up with IT, to approach nearer to
H. some of the weeks incidents have been
looked ON as giving less promise OF progress
towards prosperity. But the prices of Sc
ities have remained quite significantly