The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1898-03-13

rally started an import movement OF gold.
This week the money market was decld-
eddy easier and the level of call money
rates is distinctly below that in London.
so there should be profit in leaving
credits abroad at interest. But there has
been no interruption to the engagements
of gold for import, which have now reach
ed a total of considerably over SIC, 600
After the available supply of gold in the
open market had been absorbed the Bank
of England and the Bank of France re-
sorted to the most extraordinary expedi-
ents TO prevent the withdrawal of gold,
the premium demanded being sufficient
under ordinary circumstances to check
the outflow of gold. Cold is. however
being taken from the Bank of England
for New York.
Railroad bonds have shown full SYM
pathy with the weakness in stocks, but
dealings were not large.
Government new tours have declined 31z
per cent bid, the fves and or tours per
cent bid, and the old fours coupon 21z
per cent.
FOREIGN STOCK MARKETS.
Paris, March 12-On the bourse today
Spanish fours at the opening were 551s
against So SIS, the closing price yester-
day.
Paris March 12-Prices opened weak
on the renewed decline in the price of
Spanish and Brazilian securities, after
wards improved. but a reaction followed
SPANS tours were especially affected by
the utterances of the Impartial and were
further depressed in response to London
advices. The closing was weak all around
Spanish tours closed at 545s, net loss of
Ills from yesterdays closing price.
Berlin, March R.-International securi-
ties on the boUrse today were quiet. Bank
shares and industrial securities were firm
and then weakened on realizing. Amer
lean securities were weak in respone to
the London market.
London, March 12.-Span!sh tours on the
stock exchange today opened y lower. at
54B, but later reacted to So. The market
for American securities moved downward
all day with the trading merely profess
sional. The closing tone was weak. There
was no demand. American eagles amount
ing TO 900 pounds were withdrawn from
the Bank of England today.
New York, March 12.-The Evening
Posts London financial cablegram says:
The stock markets here were dull and
depressed today on finance and politics,
more particularly the Cuban question,
but the close was a fraction above the
worst on a feeble rally from Paris. owing
buying. Spanish securities were fat. The
report that the next coupon of the exte-
rior debt was to be paid in pezetas is Off
cially contradicted. All the same. Span
ish finance is in a desperate situation.
Americans were fat on the New York
lead. There was practically no recovery.
The increased premium charged by the
Bank of France on eagles, thus shifting
the demand for gold here, resulted in more
Withdrawals from the Bank of England
today. More American bills are to ar
rive than for some time. The brokers
usually quote ga per cent; the bank is now
doing a large business, the discount rate
in the open market being 31s per cent.
There was a further fall in Spanish bonds
after business hours"
LOANS AND EXCHANGE.
New York, March 12.-Money on call
steady at per cent; last loan, per cent.
Prime mercantile paper, 41aG51a. Sterling
exchange steady, with actual business in
bankers bills at s4S314d4.S5 for demand
and at a. S0s4d4S1 for sixty days; posted
rates, S4S2Q493 and s4.S5d4S512; CONNER
cial bills, $3.50. Silver certificates, 54A q
So bar silver, 54A; Mexican dollars, Az.
THE BANK STATEMENT.
New York, March 1.-THE weekly bank
statement shows the following changes:
Surplus reserve, increase 1885,. 925; loans,
decrease so, 1892, 400; specie, increase 49,
1913. 700; legal tenders. decrease 1865. 400;
deposits, decrease 80 52S. 500; circulation,
increase $50 600. The banks now hold S22,-
721. 325 in excess of the requirements of the
% per cent rule.
New York, March I2.-The Financier
says:
so far as relative strength is con-
oil orin q
banks are in a stronger position now than
at the close of business one week ago.
The policy Of retrenchment seems to have
been rather generally followed by the
larger institutions, and the loss of $10.S92-
| 400 in loans. as shown by the statement
| Of March u, corresponds closely with the
reduction of $40, 53S 500 in deposits. Early
| in the week the liquidation in loans was
a marked feature, as a number of the
banks were below their reserve require
ments and desired naturally to increase
their cash holdings. The unsettled stock
exchange conditions have also contribut-
ed toward the falling off shown in the
average The banks appear 10 have lost
/ 81 465. 400 in legal tenders. but the re-
ceipts of the first gold imports swelled
the specie item 50. 93S, 700. so that the actual
loss in each for the week was only 1885,,
| 700. The reserve requirements, owing TO
the decrease in deposits, were reduced
| s.. 6S4. SOS. and taking from this the actual
loss in cash. the result shows that the
banks have added ST. S07, 925 to the excess
reserve reported one week ago. There Is
now engaged or en- route TO America over
| SO. 600 900 in gold. and as this will find its
way into New York hands. excepting. OF
course, the one-half million ordered for
| Chicago. the outlook must be regarded as
re-assuring It will be seen that this CEN
/ ter can stand a heavy drain without
weakening the position Of the local banks,
although why there should be continued
/ movement Of funds 10 the interior. with
! bank reserves at nearly every principal
center heavier than usual. is a matter that
/ ca not be explained easily. The local
money rates during the week have reflect
/ ed an easier feeling. falling of somewhat
at the close. Many Of the larger banks
/ seem to be out OF the market on CONNER
! cial paper. but out-of-town institutions,
which are not affected by the withdrawal
/ OF money. >have been doing considerably
| business at this point. 1t is, of course,
| impossible in view Of foreign complica-
| tons. 10 predict how money will turn
within two weeks. But 1t will require
! a very severe crisis. indeed. to bring the
market 10 an acute stage. A continu-
I
! against its existence for more than brief
period Of time.
| TREASURY STATEMENT.
Washington, March I2.-Today's state
ment OF the condition OF the treasury
/ shows: Avs liable cash balance, So $50
| ISS: gold reserve, Sl69,Sl4 +2e
! WEEKS EXPORTS AND IMPORTS.
New York. March I2.-The imports al
the port OF New oYrk during the week
were: Gold. 1855. Az; silver. $S5.l0S: dry