The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1897-06-13

The statement Of the clearing house banks
Of New York City for the week ending June
L, in common with the two Immediately
preceding it, is of very misleading nature,
and IS so involved in the technicalities as
TO furnish no ground for the assumption
that business is expanding in proportion
10 the increases in loans, and the other
items. The main causes that lead to the
heavy changes exclusively reported in this
analysis last week will hold good again.
For example. the increase in the loans Of
the banks for the week ending June y, was
8, $40. 900, a very cheerful sign of itself, but
as the loans Of the National City bank alone
represent an expansion Of 3i.1ol, 600. and
those of the Third National which it has
absorbed, a decrease Of one million, it Is
plain that the remaining banks have ac-
tually decreased their loans s, go. 600 during
the six days. This puts an entirely differ
eBt complexion on the statement. So also,
the other increases appear to be due TO
special causes. According to the state
ment, the banks gained in cash s., pa, 800 and
in net deposits 1856. 400. The increase in
the latter item, ii viii be noted, is not as
large as the other changes requiDe. show
ing that the statement does not give the
actual condition of the banks. AS bearing
out this claim, the operations Of two banks
seem 10 account for the total changes in
the items of deposits and legal tender In
crease. or the total increase Of s., 500 In
legal tenders, the Hanover and Western
National banks are responsible for at least
sos, OoO and IN the item OF deposits they
show an increase of 81 10. COO which is over
70 per cent of the total increase reported
by all the other clearing house banks
This, it is needless to say, is an anomal
Gus feature and not easily explained. OF
course the boom in the stock market has
some connection with it, but preparations
for the payment OF the sugar dividend pro-
baby accounts for the Western Nationals
increase, especially since that bank has for
its president. the secretary of the Americans
Sugar Refining company. The loans OF
the New York banks are now larger than
they have been, since September 81, 1895,
but the banks have more idle money in
vaults than since January, So last, when
ent-
The bond market displayed very strong
tone during the week, with the dealings IL
considerable volume. The market was
governed to a considerable extent by the
developments operating to enhance share
values. Purchases by leading interests i'm
parted decided impetus 10 the general ten
dency, with the inquiry for the liens of re-
organized properties very brisk Trans
actions for continental account were II
large volume and included purchases of the
more prominent international mortgages.
The usually inactive securities were con-
spicuous in the speculation aud sustained
material improvements quickly. The gilt
edged bonds commanded fair attention, bu-
the varia lions We're rather narrow. Tho
changes in the more active mortgages were
mainly uninmportant. with gains. however
prevalent, aside from Atchison tours. which
are off u per cent, and Atchison adjustment
fcurs, unchanged. The aggregate sales
were sl01S5,0o0 The principal advances
were: Iron Mountain Stamped SIS Z per
cent; Tennessee Coal Is, Birmingham di-
vision. Z per cent; Oregon Short Line con-
soils SIS trust receipts, 5 per cent; Brook
Ign Transit SIS. Burlington S. Iowa d.
vision: General Electric debenture SIS, In
ternational and Great Northern as. Iron
Mountain SIS. Missouri Pacific consols 6s.
Toledo, ST. Louis and Kansas City. Is trus;
receipts. and Utah Southern general rs
trust receipts per cent or over; Wabash
2s. Wabash. Detroit and Chicago. extern
sion. ST Joseph and Grand Island Is trus,
Louisville. New Albany consols trust re-
celpts. 5 per cent or over. Iowa Central
Is. Pit;sburs and Western Is, 81. Louis
and San Francisco general is. Oregon Short
Line incomes \, Union aPcific sinking
fund SIS trcs: receipts Norfolk and Wes-
terri As. Hooking Valley 5's trust receipts.
Toledo, Peoria and Western is. Wabash
debenture series B. and Fort Worth and
Denver City Is trlst receipts per cent or
over.
LOANS, EXCHANGE AND BONDS.
New York. June 1s.-Money on call easy
az 197li. per cent Prime mercantile paper
5fI4 per cent. Sterling exchange dull and
steady with actual business in bankers bills |
at siS for demand. and at s4Ss. "a SIS 70. !
sixty days: posted rates szSGi2f4S and |
3. SSdi SSis: commercial bills, S4@ Silver |
certificates eoQ6ii. bar silver. 5s7s: Mexican |
dollars Az. Government bonds firm; rail- |
way bonds firm: siats bonds duh.
TREASURY STATEMENT.
Washington, D. c.. June I7-Tcsay's |
statement of the condition OF the treasury |
shows: Available cash balance So SAC SsS: |
gold reserve SIii.522 rs
WEEKS EXPORTS AND IMPORTS.
New York. June Ia--The exports Of specie |
from the po-1 OF New York for the week /
amounted 70 S13.oii n gold and 10 in |
silver. The imports were: Gold, Ss.it2;
silver. A2SS; dry goods. s. 81: general |
S7.&25Sa
COFFEE AND SUGAR MARKETS
New York, June a-Conee-On-,o,.o ,.,.