The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1900-11-25

Money Market Conditions Are Good
Favorable Bank Statement-Rain
Checked Local transactions.
Al New York Saturday money on call was

AT New York Saturday money call was
per cent
Prime mercantile paper. GAS per cent
Sterling exchange nominal with actual
business in bankers bills at AS594ssls for de-
mand and s4s,KG4sl% for sixty days; posted
rates. AS2 and Sass; commercial bills. s4soAG
4sOz
silver certificates were sr4Gs5Ac: bar silver
s2c: Mexican dollars, zoe. Silver bars at Lon
don 2elzd ounce.
Imports OF specie for the week at the port Of
New York were sSSS in gold and s4S,sO7 in sill
Yer. Exports OF gold and silver TO all countries
for the week aggregated sl,S7O15s in silver bars
and coin and So. $50 in gold. Imports OF dry
goods and merchandise at the port OF New York
were valued at 50. 1s5.575.
The weekly statement OF the associated New
York banks, issued Saturday. shows the follow
ius changes:
Loans. increase S74 900
Circulation. increase ....-..-...........- 1900
Legal tenders increase -----....-.----. ls4s $40
Specie. increase ossoOv9
1etal reserve. increase .-........'..'.. loSS ~
Reserve required. $50 800
surplus reserve, increase -...........-. 40eS,SeV
The Financier says: The banks continue 10
reflect the gains in cash made through opera
tons with the subtressury and the interior. Re-
also figure In swelling the total The current
statement shows an expansion OF no less than
S.SOodo in specie and si,SissOO in legal tenders.
CT gain OF s754S 500 since Nov II This addi-
ton is in excess Of what known operations re-
veal, and. conceding its accuracy. the clearing
house banks have placed a substantial amount
% their surplus reserve The net increase was
only s. so. $50, for the reason that the rise OF
III 'Zl.2l0 in deposits necesstated an added legal
reserve OF nearly S. 600 000. The interesting fea
tafe CT the situation. locally. is the moderate
expansion in loans since the election On Nov
as the loan total Of the banks stood at Ss2. :
SStt or within few hundred thousand dol
,sls ot saturdays showing. and since Nov 10
80 sam mas been only 1900 co. this, too, az
tne close OF three weeks Stock Exchange busi-
hess which has broken all records. Since Nov.
lle hanks have added IS 731 900 TO cash hold
ings while deposits have risen less than SO co., =
- u vii be that the clearing house IN
ssu.lllons gre In a much stronger position than
s.st previous 20 the election. IL IL questionable
Nhether tho drift towards larger reserves will
ne maintained. One factor that confuses calcu-
1913 on this point Is the continued investment
F-s s.-.s which characterizes the present market
10y hlng points 10 a stiil further accumula-
Ien Of glt-edged securities in these channelg.
not 70 be judged by comparisons that may be
49, Win past years. for the reason that the
~sssorItlon OF domestic gold production in local
staannels. the increased Yield from Alaska and
-, -1eat rise in national bank notes have re-
s- $3.50 IA a Der capita circulation in excess Of
sisilhg heretofore known. that. while more
business Is being done, the country has more
ti.sy 70 DO II with, and, in addition, possesses
10y credit balances abroad thSt can be drawn
upon II Necessary
wALL-sTREET REVIEW.
me most striking point In Saturdays market
was It's duiiness. compared with the recent
.si'ity. Neither the public nor the large op-
orators seemed 70. be taking any part In the
market. and prices drifted rather aimIessIy and
hesliatingiy- The continued weakness IN some
stocks. especially Steel and Wire. at the opening
vas Onset by the aggressive strength Of others.
northern Pacific opened a point higher and ex-
'>noso ne advance later to over potnts- There