The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1899-05-05
102 Per Cent. Greater than I'm April,
1897. I22 Per Cent. over 1894 and e3
Per Cent. Higher than 1892.
NEW STEEL COMBINATION
FIRST STEP TOWARDS THE FoRMA-
TToN or A s5OO.ooo,o0o TRUST.
Carnegie Company Incorporated An
New Jersey-Other Gigantic Com
binatfons Perfected.

NEW YORK, May 4-BTadstreets OF May
8 will say: Widespread business activity
and heavy financial transactions, resulting
from consequent on the large number
OF industrial combinations planned or exc
euted during the month OF April. seem TO
have been largely responsible for the heavy
hank clearings reported for that month. be-
cause stock speculation was rather quieter
than in March or the preceding months.
The April clearings. in fact deserve special
notice because, though they were smaller
by per cent than the aggregate for March.
which was owing chiefly TO the smaller
number of business days in that month.
the average daily clearings were heavier
than the like average for the month OF
March. In percentage Of gain. too. the liz
erase shown over April a year ago was
the heaviest noted this year. and the re-
suit is a further enlargement Of the gain
reported for the calendar year over recent
preceding periods.
The aggregate bank clearings for the
month just closed were s. 9ss. .4ee cee. a gain
of es5 per cent. over April one year ago.
ar increase of 1o2 per cent. over the month
Of April, 1897, a gain of 10 per cent over the
corresponding month in 1894 and an increase
of 63 per cent. over the like period OF lsszs
The heavy gain for April compares with
an increase of 54.6 per cent. during the
month of March, of 257 per cent. In Feb
ruary and of Alb per cent in January, over
corresponding periods OF last year. Rela-
lively the best showing for April, as. indeed.
for many preceding months, was that made
by the middle States group OF cities In
this section the increase reported over April
a wear ago was I'm excess of So per cent.
the next heaviest gain being that reported
by the New England cities, 4s per cent
Other considerable gains are those OF -
per cent i'm the Southern cities. 137 per cent
i'm the Western group and 11.s per cent IN
the Northwestern. AS for some time past
the gains in the Southwest and the Tar
Western groups have been comparatively
moderate but even here the increases
have ranged from to per cent
A rather better showing Is naturally mace
by the individual cities than was reported
in March. The gain at New York is heavier
than II was in that month, "a per cent. In
April. against % per cent. in March, ana
tho increase in the rest Of the country In
April was 232 per cent, against q per cent.
in March. In the Southern group the large
gain by Baltimore, AZ per cent, Is largely
accountable for the increase In that group
as a whole. although fewer Southern cities
show decreases than in March. In the
West the heavy decrease reported by
Omaha. % per cent, due 10 the Withdrawal
of some bank cIearings from current totals.
is a notable feature. Boston's clearings In
April were very heavy. and the gain over
a wear ago. 12 per cent, Is notable one
The gain shown by Philadelphia equals this
however Chicago shows gain OF 14-5 per
cent. over a year ago. Activity In the iron
trade is reflected by the gain Of rs per cent
at Pittsburg. St. Louis shows gain OF -
ner cent. as does also San Francisco.
For the four months period. of the caien-
dar year the clearings aggregate 80. ao5. 49,
Sc, gain of 4s4 per cent. over 1885. OF
81 per cent. over 1851, of l2o per cent. over
1904 and Of 5s per cent. over 1892. In the
four months compilation, as In that TOT
April. the middle States 81 CUP. containing
the metropolis. shows the heaviest increase.
5s4 per cent. The gain in New England
is over - per cent, while the increases IN
the Northwest and South exceed 20 per cent
i'm each case. The gain In the far West Tor
the four months closely approximates that
shown for April. Ga per cent. while the gain
in the Southwest is also moderate one.
So per cent
Canadian bank clearings, while smaller
than those OF March. note heavier propor-
tionate gain in April than for number OF
months past The ciearings at six Canadian
cities for the month aggregate $lls8s.ss4-
an increase of 10 per cent, compared with
a gain OF only per cent In March, OF less
than per cent. in February and less than
10 per cent. in January, while for the four
months the clearings aggregate $isl 3s4.s sss,
an increase of e.5 per cent.