The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1899-05-15

The exports of specie for the week aggre-
gated 81. 30. of which sS07 .3l5 was silver
and s255. $50 gold.
The imports of specie for the week aggre-
gated s34s. 3Os. of which s2s7 .273 was gold and
$s1. 0s5 silver. The imports of dry goods and
merchandise for the week at this port were
valued at Sl46,9T.
The New York weekly bank statement
shows the following changes:
Surplus reserve. incrsase............s.7 1865
Loans, 1855. 200
specie, increase. sos 500
Legal tenders. increase....-...-.... $500
Deposits, increas I, 1896. 600
Circulation. decrease .............. $500
The banks now hold $27. 137. 625 in excess OF
the requirements of the "A per cent. rule.
The New York Financier says this week:
As was TO have been expected. the bank
statement for the current week shows some
heavy changes over previous totals. but in
the aggregate they were not as heavy as the
operations of the week had led the hnan-
cial world TO expect. 1t had been anticipated
that the excess reserve would rise almost,
II not quite. Sl5.Oolc0. for in addition 10
the heavy liquidation due to Stock Exchange
business the banks had gained something
like A,5oo,00 from the interior. and the treas
ury operations, involving as they did the
payment of the Spanish indemnity, had made
the banks a creditor to the extent OF
lo.0o.0s or almost s15. coo 900 counting that
portion of the initial payment not included
in the statement of May 6. The gain liz
cash. however. as reported Saturday. was
only about $4,000. and the increase in dc.
posts less than $2.G00.c0. There was a
snrinkage in loans OF 80 $50, 200, and the effect
OF the changes noted was TO increase the
surplus reserve s1,7S5.615 Thus the state
nsent seems Iar out OF oalanSe. even from
al AVERAGE Stanuu0lnt but Wnan n l. z n
up IN detafI some interesting facts are dis-
Closed. lie National City bank, as the
nssae. eainea Mnisn sRaln : pdymea1 Was
It's cash increase HaS almost as great and its
loan expansion about N.5O0,00. This seems
logical IN view OF the known facts. ana il
Is also apparent that in the totals OF the
remaining banks must be sought the
ing; The result is not SATISFACTORY. for the
real operations OF the week do not coincide
with the showing thus made. The system
OF averages employed is doubtless respon-
sible tor the discrepancy, and IL is also re-
sponsioie. for another fact which gives an
serve carried by all the banks for the week
ending May IL equals rs per cent. of their
e %sek as the against ,on FL c for the previous
including the heavy gains. are separated IL
becomes apparent that the other banks In
OF less than "a per cent, indicating a more
restricted loaning power. AS a matter of
fact; the real sonoition {. the banks doe,
not warrant this conclusion The outlook is
rather toward easier money"
BIG SATURDAY BUSINESS.
The total sales of stocks in Wall street
Saturday amounted to 76 .535 shares, includ-
Ing: American Steel and Wire, 81. 6OO; Ameri-
can Steel and Wire preferred, ~, 100; Amer
lean Sugar Refining. q. 100: American Tin
plate. $3.50; American Tobacco, $500: Ana
conca, $500: Atchison, 9.40o: Atchison pre-
ferred. 80. 700; Brooklyn Rapid Transit. 2i5,-
loe; Chicago, Burlington & Quincy rights.
$500 Chicago. Burlington & Quincy, u. 300:
Colorado Fuel and Iron Company. 5000;
Central Tobacco. %, 800; Federal Steel. lOl
30, Federal Steel preferred, g. 100: Interna-
tional Paper Company. 500: Louisville a
Nashville lco9; Manhattan, q. zoo; Metro
Central. 900; Northern Psciic' 100 or No nqfK
400; Peoria Gas. 1880: Reading fTst pre-,
ferred. 300; Rock Island, "A, 200: ST Paul
900: Southern Pacific 400; Southern Rail-
PACING. II, 500; Union Pacific preferred,
s.4oD; United States Rubber. 300.
Speculation on New York Change opened
in z highly demoralized condition SATURDAY
owing TO the announcement of the sudden
oeath or former Governor Flower. General
news was scant. but many rumors connect-
ed with the properties identified with the
liquidating orders and bear activity after
the initial break carried all OF the Flower
specialties down at a terrific rate. The ex-
IRENE breaks in these properties as com
pared with Friday were: New York Air
brake. 80 points: Brooklyn Transit, 49,
Peoples Gas. Is; International Paper. l4k;
Federal Steel. III: Rock Island. as. and
Atchison preferred. 4. In the general rail-
way list the extreme declines ranged in the
active shares up to "a, In Burlington. In
the speculative specialties American Steel
dropped rs. Sugar. sis; Colorado Fuel, az:
Manhattan and Metropolitan. So. each:
American SHELTERS. 6, and National Steel
continental Tobacco and Anaconda Min
Ing over 4 points each The appearance OF
supporting orders and the absorption of A
large amount In the aggregate by bargain
hunters. together with large covering Of
snort lines. brought about a very material
rally which was emphasized In the proper
ties which had suffered most earlier. Part
or the extreme decline was due 10 uncover
ing or many stop orders as well as the wip-
Ing out OF many marginal accounts. Dur
Ing the early violence the facilities of brok-
ers handling large business were severely
taxed and few orders could be accepted for
execution. except AT the market" The
lowest point reached by stocks was In many
last The Flower specialties, however, were
exceptions and touched the lowest in some
the arm OF Flower & Co. that Mr e% Flower or
had no stocks on hand that were not paid
FOR and that they would not come on the
market mad a reassurfng effect. That firm,
moreover, was a purchaser for clients OF a
large line OF stock on the decline. London
was a small purchaser. The bank state
ment was not fully up TO the expectations
Of some and realizing and the putting out
after the rally. but still let quotations
much above the lowest. The net losses are
clines. In the Flower specialties net losses
are: New York Air-brake. q: Brooklyn
stssi' 81 n haser PsajRle,s, 1 gas; ssz; d Tsaesal
Gibson preferred and Rock Island. about 2s
each. The dealings for the day ageregated
d dspha s sssI nours sssai 2a : and pi tRs l,xs sa }
cnanGe1 Or quotations - tremendous blocks