The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1898-08-14

Silver certificates, 5S54 G5912c bar silver,
$3.50; Mexican dollars, acc. At London bar
silver closed steady at 2713d an ounce.
The New York weekly bank statement
shows the following changes:
Surplus reserve, decrease. .......... sc, ISL $50
Specie, decrea Sc observation-disclosures. 2. 763 800
Legal tenders. decrease. .............. 3.091S0O
Circulation. decrease. AZ, 200
The banks now hold $33, III, $50 in excess
of the requirements of the 25 per cent. rule.
The New York F'inancier said Saturday:
The statement of the associated banks of
the city of New York for the week ending
Aug. Is shows that the deposits and loans
have reached a higher total than has been
previously reported by those banks. The
chief features of the statement are the loss
in cash and the continued expansion of
loans which have marked the operations of
the banks for a considerable period. De.
pOsts however, are gaining at much less
rapid ratio. and reserves are decreasing. A
hardening condition of money rates is TO be
expected with these conditions remaining in
force, and indeed this result has already
been noticeable in the past week. AS COM
pared with the previous weeks totals loans
Lave L. Increased Sill 400 and deposits
$S.03,OD. There have been losses in both
legal tenders ($3,091 500 and in specie hold
ings ($2. 1853 60O), so that cash has decreased
$5,SS5.4 400 while the surplus reserve has de-
creased So All, 1850. The operations Of one
bank account for over half the gain, with
about $1o.Oe,oG0 reported in loans, and the
large banks is nearly S1OO0,G00 more than
the total gain in deposits of all the banks.
Individual statements like these tend to
confuse the average results, but in the main
the statement reflects very we'll the changes
IN the accounts of the remaining banks.
loans have expanded since July by
$S.5O0.000, but desposits by only about
$lOeWO00 and the surplus reserve is now
w Wac
Carrying comparison farther back. a some
what different story is told. Taking the
statement of April 80. which represents the
lowest ebb of the period of apprehension
over the Spanish difficulties, we find that
the deposits increased $lO2,000,000 but loans
only $Sy,000OO0 A forecast of the money
market az this time is peculiarly difficult
but the banks have been able to consider
ably improve their position lenders by
their operations of the past month or so.
The large cash resources of the West make
It unusually problematical to estimate their
demands on the New York banks, but, on
the other hand. there is every evidence of
larger crops than were anticipated some
time ago. business is becoming more ac-
i've and the demand may be heavier than
has been looked for. The large debt still
owing by Europe cannot be discarded from
the reckoning, and it has yet to be proved
how badly Europe needs this moneys
Iotai sales stocks, 1882 shares, includ-
ing: S..sS Atchison preferred. 7155 Chicago.
missouri. Kansas < Texas preferred 20 $50
Northern Pacific. 4.555 Northern Pacific pre-
aistoSi LAOch ISldnu, f,0SO Union Pa
cinc, lilo st. Paul 5000 Southern preferred
S0 Cotton OIL $40 Tobacco 1000 Sugar
300 Rubber and 3,l9S Rubber preferred
ne animation of Saturdays stock mar
ket was FAR less than that of last Saturday
ana the net gains on the days transac-
tons were much less striking The actual
signing OF the peace protocol brought no
enthusiastic buying, but on the other
hand, II brought no realizing sales such as
are likely to occur on the elimination of AN
event heralded and discounted There vas
large and steady demand throughout the
short. session of the exchange, which held
prices quite firmly throughout the list
Active buying in a few stocks was con-
spicuous especially Northern Pacific com
mon which added a point to its price in
strong and Union Pacific showed an adj
Vancing tendency. The Southern railroads
continued somewhat depressed, owing to
the yellow fever case reported at a town In
louisiana. Even in the absence of an cpl
demic. the precautionary Quarantines are
likely to interfere seriously with railroad
traffic. Kansas & Texas preferred dropped
on a point under this influence. The motive
FOR the recent selling of Manhattan was dis
closed by the report of the June quarter
showing a falling off in gross earnings
compared with last year. of ,927. The
stock was lifted after early depression by
the demand 10 cover. Very notable adj
Nances were shown by the Rubber stocks
Tobacco and New York Air-brake. There
was no evidence of heavy liquidation for
Russian crisis. and those who sold short
Friday. processing fears of such result
bought TO cover Saturday. The large de-
crease of S6,7S1 $50 in the surplus reserves
OF the banks was without effect. The clos
ing was generally firm, only few stocks
showing slight recessions from the best
The dealings in stocks during the week