The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1899-05-01


Imports Of specie for the week were SIC. 326
sod and s24 .257 silver.
The exports of specie for the week aggre-
gated s93s.1A of which sss2.04s was silver
and s54.oe4 gold.
The New York weekly bank statement
shows the following changes:
Surplus reserve, increase...........S1.S4 s. rs
Loans, decrease ....-.-........-....-.. 5eo,30
Specie, decrease ....--.......--...--..- S4sUV
Deposits. decrease .....-.............. S4,30
Circulation. decrease ............... 1890
The banks now hold s25,524s75 in excess
of the requirements of the Is per cent rule.
The New York Financier says: THE New
York banks are still accommodating idle re-
serves. the total surplus account according
10 the current exhibit footing up s25.5 s75.
The factors which were prominent in the
previous statement are still in evidence.
There has been further decrease in loans.
the loss of s5s5. 300 being much less. however.
than reported for the week ending April p.
Deposits have fallen off sso4 300. and as cash
Increased over one million. the surplus ex-
banded sl.3fs.775- In way the statement
is much better than had been looked for.
known operations for the week with the
subtreasury resulted in a loss of more than
three and half millions to the banks. and
ibis more than offsets the estimated gain
from the interior. AS 1t transpires. however.
the bank averages disclose a better ending
for the week. 1t is immaterial whether the
actual condition Of the clearing institutions
h reflected In these averages, since the ten
dency In money affairs is favoring a con-
tinued flow OF funds TO this center. and in
broad sense gains are to be expected from
this time on. Whatever money the banks
lost TO the subtreasury during the past few
days will probably be very much more than
recovered through interest disbursements
and other payments beginning May 1. OF
more interest than the bank averages is
the condition OF the exchange market,
which is working toward a high level, with
the probabili of still further advance.
IN, ne quotation Is now very near the export
j. regarded as extremely doubtful by inter-
ests IN a position TO know. Money rates
ABROAD 90 not encourage such a SUPPOSE
ton. but IL will be recognized that fiuctua-
tons in our domestic rates will react sem
,sitively on exchange quotations. Despite
the rise In exchange, which on the surface
indicates liquidation of trade balances,
the facts go 10 show that Europe is still a
debtor to the United States. and future OPP
erauons leading TO a transfer of gold will
mean something entirely different from the
causes which set into motion these forces in
the past
The total sales of stocks SATURDAY.
amounted TO 59s46 shares, Including: Amer
lean Steel and Wire, IL 200; American Sugar,
,5.5oo; Brooklyn Rapid Transit. 81 200; Brook
iyn Rapid Transit rights. S,l00; Burlington
LOO: Chicago. Consolidated Traction, 1000
Colorado Fuel and Iron, 1000; Consolidated
Gas, $500; Continental Tobacco, 500: red
eral Steel. 100; Iowa Central 2.300: Louis
dated. $500: Metropolitan Street-raiiway
300; Mexican Central. 400; National Steel,
$50: New York Central. 6 200; North Amer
vania Railroad, a.6oo: Peoples Gas and
Coke, 800; Reading first preferred, 5000; St.
Paul, 100; Southern Railway preferreds O.
coo; Tennessee Coal and Iron, g. 400; Union
Pacific, 3.5Oo
The New York stock market was heavy
number of partial recessions appeared. the
general railway lists suffered only fraction-
ally Stocks affected by the bill taxing cor
poration franchises in this State suffered
me most metropolitan lost over five points
prookiyn Transit and Consolidated Gas
avenue was an exception. rising two points
on small dealings on expectation that the
company would bid for the underground
franchise. The traders were early Sellers
IN expectation OF a bad bank statement but
tney covered when IL appeared showing
and one-third million dollars and loans de-
creasing about a half million The absence
cal stocks caused the market TO ease off
again. closing weak. London was a MR.
chaser OF moderate amount OF stock.
cihc and Colorado Fuel which advanced
~, and 8, respectively. Practically all the
industrials were weak.
THE WEEKS RECORD.
Stocks gravitated TO lower level during
the week end dealings were diminished from
outside demand and such advances as did
occur were mostly In active stocks. March
rent receipts for many railroads covering n
period OF unfavorable weather conditions.
generally showed results below expecta-
tions. The gross weekly returns appearing
Tor April on the other hand exhibited an
increase In traffic. The seeming desire of
the f1lipinos for cessation OF hostilities
was accompanied with little doubt in the
speculative mind that ultimate favorable
CONCLUSION would be reached within a rea-
hension attended the possibility of diplo-
matte strain with Germany owing TO the
vide publicity given the remarks of United
otales naval oftcers regards the situation
IN samoa and the incidents attending the
operations OF the naval forces at Manila.
me money market was variable. with in
creased strength late in the week in antici-
pation OF many dividends and interest re-
9uiremenfs and the necessity OF financing
other industrtals next week Sterling ex-
change vas strong III reflection of London's
conda mining. The Spanish Indemnity is vet
10 De arranged for. so most authorities be-
neves but exports OF gold are not antici-
az shout double the London figure unless
England should return to America other
large holdings OF American stocks The
bank clearings decreased compared with
last week. rejecting the fact thai specu,a-
ton In stocks diminished 10 little over 5000
GO shares during the week.. but the general
business OF the country continued large and
trade reports recorded 10 check TO the ex-
panston In business activity. Silver certifi- |
Gates, after long periei of comparative in
scusity, rose . cents and closed only
cent lower. The price attained for |
the white metal was the highest I'm |
over two years and the certificates traded |
IN represented $1,000 ounces. The trading in |!