The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1898-01-23
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which goes to show that the banks, de-
spite the amazing increases for the week,
have accumulated eight millions less ex-
cess money than in a similar period at the
beginning of 1897. In fact, the gain in de-
posts Of S22, S59, 900 last week was almost
eqUalled by the second week in January,
1891. It is interesting to recall that m
vestments in sterling loans were then
heavy and these conditions are not I'M
like, with the exception that no bank fail
ure epidemic is now affecting the west,
as during the early part of 1897.
IAN alalysis of the holdings Of the in
dividual items of the banks for the past
week reveals the fact that although one
bank gained nine millions in deposits and
was apparently able TO loan it all, the
greater banks, with few exceptions, show
heavy gains The expansion Of s12, coo
in loans of course tends to swell the de-
post item, and with the 81, 021. 400 increase
in cash, accounts for the deposit gain.
This money is coming from the interior
for the most part, and while a larger
quantity than usual is going into COM
mercial paper the bulk is loaned on the
street and perhaps on sterling loans.
'All the items are far above any here
tofore recorded, but it should not be for
gotten that the treasury still has large
special deposits in the banks as a result
OF the Union Pacific settlement and the
withdrawal of this money may be expect
ed soon. Its Importance as factor in the
market is not to be underestimate. New
York banks even with investments in for
eign credits, will probably have difficulty
in putting out the funds now accumulated
here, and there is apparently no reason
for leaving government deposits in banks.
Never before has the situation presented
of ambiguity, the strong question OF the
United States is clearly revealed. This
country, through its heavy trade bal
ances, and the entrenched position of the
treasury, can, if it is so disposed, regulate
the price of gold for the world for some
months to come.
WEEKS EXPORTS AND IMPORTS.
New York, Jan. 22.-The imports at the
port of New York for the week were:
Gold, s715.4 As; silver, sS6,37S; dry goods,
s2,S45,93G; general merchandise, $685., S42;
the exports of specie were Gold, SITS, 345;
silver, 81, $50.
TREASURY STATEMENT
Washington, JAN 22.-Today's statement
OF the condition of the treasury shows:
Available cash balance, s239, SOC, $50; gold
reserve, 1853, $50, 125.
WEEKS MARKET FOR WHEAT.
Chicago, Jan. 22.-The upward course Of
the wheat market has been almost inter-
rupted, developing great strength and
showing a net advance of 324 G37sc. Spec
ulation in the July future became quite
prominent and during the latter part of
the week there was as much and at times
more trading in it than May. There was
a marked disposition developed to close
out lines of May on account of the I'M
certainty regarding the final disposition
of the Letter holdings and that future in
consequence showed but 1%4d17sc advance
for the week. The strength developed at
Liverpool had a great influence on prices
here. A general buying movement start
ed on Saturday and was continued until
Tuesday. a sharp advance at Liverpool
and a large visible decrease and less ia
vorable reports from India, caused large
short interest which had formed the week
before, to cover. Realizing checked the
advance in May on Wednesday, but July
continued to climb and on Thursday a
good advance took place in both options
Rains in Argentine and greatly reduced
estimates of the exports Of tina country
started buying and the market continued
to advance until late on Friday, when
the large weekly shipments Of Argentina
started buying and the market yielded.
May was between 927s and 922sc, while July
ranged between S43s and S02sc.