The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1899-11-25

2
alton brought no lonable FUNDS INTO the
market az ali. Besides the conversion in
to the United States new f9urs. the New
York savings banks used part o. the re-
demption money 70 acquire some q the
New York municipal bonds which were
issued this week The New York City
government keeps It's cash ia depository
banks, so that portion Of the government
redemption money has become avk3iab-e
20 the market. II thus happens that while
the sub-tressury operations have yielded
upwards Of seven millions during the
week and confidence has been felt thar
the technical condition OF the Banks
would greatly improved IN Saturday re-
turns the Increased available resources OF
the money market were not abundant
/ Last weeks runor OF heavy holdings q
I government bonds wnich would De offer
! ed for redemption In blocks and the pro-
/ ceeds used 10 lubrlcate the wheels 4
J speculation. have been dissipated The
course OF the currency movement has
: been obscure and uncertain. The upward
( tendency o: New York exchange AZ in
+ terror points early IN the week has given
place 10 renewed heaviress. indicating
( pretty clearly that the interest or demand
/ IS not yet satisfied Such increased move
msnt of money towards New York az has
taken place does not represent idle money
I seeking the lower rate q interest allowed
on deposits Il Is n settlement II tho
mercantile accounts due 70 the New York
wholesale merchants on purchases made
during the summer on four months time.
and which. ike all other lines OF business.
were usually large this year. The foreign
Exchange rate which suddenly bounded
up on the announcement OF the govern
Uent bond redemption offer. has sagged
during the week as the failure OF he
money market TO soften grew manifest
and had fallen by Thursday TO s. s5is for
sight bills. or within I4c of last weeks
low point But the Increased tension OF
the London market. which has lifted tn
private discount rate 10 a parity with
the bank rate has lowered the exchange
level AZ which gold imports would -
profitable and BY Friday induced 2 har-
dening In the sterling rate Thus the ouf- /
book al all points is for continued stfn-
ness of money owing 10 the Industrial .
and commercial expansion. and wan .
Street circles are Inclined 20 resiSn them /
selves 20 the couviciicn that no reflux Z .
Idle funds 10 New York banks Is likely f.
In the immediate future Meantime tie
prosperity Of al lines q business. ard
especially % the railroads keeps the .
stock market firm.
There has been some speculation IN low
grade bonds and subsequent pr5fif-takinr
Mlddle-grads bonds have been n good .
demand. United States mex fours al
vaBced &c. the twos =. the threes = and
old fours and fves = IN the bid price
BRADSTREET' FINANCIAL REVIEW
New York. Nov. y. -3radstreet-s f1au-
ial review tomorrow vii say. "Althougl B
speculation c0uIiuaes 20 Be largely pro
fessioual II is origin and quality. the
market FER the past week was generally
strong Motey has beer fairy easy. and
the fact that 20 large blocks n gov
eminent bonds have been TUNED into ths
treasury IN pursuance Of Secretary Cages
recent oner 20 purchase 81 .s95lpoo q
bonds does not seem % produce any M
favorabp effect Il vas acted. hcwerer.
that on "Wednesday. when the call loan
rate went ~ temporarily 70 Y per cent.
lie stock market experiences al fnusdl-
ate Cail. and prices generally fed without
much selling pressure. There bas been
considerable manipulation Ia various
parts q tae share list Eost = T. vs.
OF the bHI SIDE and the operations q
1he bear faction were confined 70 q few
stocks Ike Manhattan. u must ~ s5-
zaitted. 1oweveT taat On advances there
vas disposition sngwn 81 many quarters
70 realize ard. except Ia . few I1stsn~-s
the improvements we're ret g vsrg
positive nature I,ss1GOa took s5rns rsrt
ln t1s week proceedings and Vss a gg--
, aassr q frs s5ecisltles q a zne8erats
extent The absences - snv fsvurzfse
iop-uens FL RE outh Afri-z1 var a.
D 11eveF. tendency 70 WesLken the conf
GeEce - the Lgu69u au&Eket Tse re-
rewsS decline - sEcss age rates here =
sis9 a factor - importance Ebruss. aUs
caused har3e1inz y tbs L0a1os zezeT
snaTket. there being v1ugoFs that fazs
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