The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1900-08-26
PRICES a SHADE w
GENERAL TENDENCY IN STOCKS TO
A LOWER LEVEL.
Foreign Monetary Situation Compli-
Week on h Local Market.
At New York. Saturday. money on call

At New York, Saturday. money on call
was steady at ~ per cent.
Prime mercantile paper, 4Q5 per cent.
Sterling exchange was steady. with
actual business In bankers bills at s4.S7Z
for demand and s4.s4S for sixty days;
posted rates. A.S51s and s4.SSQ4.S9; COM
mercial bills, $4.s3A@4S4A.
Bar silver was 61≻ silver certificates.
slikG62lkc; Mexican dollars, 1850.
The imports of specie for the week at the
port Of New York. were S11, 5S1 In gold and
S4.2S1 in silver. and the exports aggregate
1851 in silver bars and coin. and s1,155,S7
In gold.
The imports of dry goods and merchan-
disc were valued at s9.779,74.
The weekly statement of the associated
New York banks, issued Saturday, shows
the following changes:
Surplus reserves, increase ..........S3 331 ,S75
Loans, increase z,9lo,l OV
specie, increase 4,oJo'SVO
Legal tenders, increase .....-.....-.. 4S2,2OO
deposits, increase .................... f,O3o,0U0
Circulation, increase ............-.... 5O2,4O
The banks now hold $23, SOS, 925 in excess
OF the requirements of the Is per cent. rule.
The Financier says: 1.-The loss shown
last week in the cash holdings of
the clearing house banks has been
more than half made up by re-
ceipts from the subtreasury and by remit
tances from the interior. The total dis
buTsements by the former amounted to
S.50.ON and the receipts from interior
banks exceeded shipments by nearly s., 000,-
Geo. Drafts drawn by the Treasury De-
partment and deposited in New York In
payment for gold received at the assay
Offices on the Pacific coast have con-
tributed slightly TO swell the total gain.
II was anticipated that the advance would
nearly. II not quite. equal last weeks loss,
and this may be the case actually, but as
me money has been coming in almost up to
The closing moment IL is not all shown in
the weeks statement. The export of gold
Is practically at an end for the present and
PROBABLY viii not be resumed TO an ap-
probable extent before the second week in
september, when the third inStallment or
the British exchequer bonds will have to
De provided for. Ii is possible, of course,
mat England's need IN this direction may
lead 10 an offer of inducements that may
cause the yellow metal to flow in her di-
Iectlon. but in the meantime the supply
will be considerably augmented by receipts
from the Pacific coast, so that in any
event nothing but an unprecedented de-
mand can cause us even temporary en-
Sarrassment. The fact that the New York
banks received from the interior during the
week almost 100000 more than was with
Drawn gives proof of a very satisfactory
condition in the South and West; in fact.
reports from those sections seem TO indi-
sa'e q plentiful supply of money and lead
- the belieI that no heavy demand need
Ge expected until much later than usual"
WALL STREET REVIEW.
weakness was pretty generally mani
rested Throughout the entire stock market
Saturday. but as the offerings of stocks
We're fairly large only in Brooklyn Transit,
not much of an inroad was made on prices.
Early hesitancy was succeeded by a rising
market. but the entire list weakened in the
N1e tradings on the publication of the
eank statement and liquidation in Brooklyn
transit. Numerous favorable statements
VI weekly earnings came 10 hand. but their
snowings were without avail in sustaining
SIces Respecting the recent activity and
uehsth In ST. Louis southwestern. the
Hy statement made public Saturday is
Apidhatory. The report showed a gain OF
pei cent in net earnings over the CORE
IOnuIhg period OF a year ago. Estimates
: the extent to which the banks had
,eeouped themselves on subtreasury opera
Sous ana the interior currency movement
n the loss in cash last week was not
oolhe out in the official report. The dis
,iitspancy Is thought TO be due TO the COM
tLSated system OF averages which does not
"1Sicate the banks real strength.
Hes1lts In the stock market this week
W. disappointing to bulls and bears alike
Nhie the market was unresponsive to
800 news, u~nfavorable factors failed To
irr any marked liquidation. The flow
s suppiy OF stock is admitted TO be small,
..Lhg 10 the absorption of prominent IN
io-s Who have perfected or are project
&c various deals. With the leading OF
-sestment interests TO be considered
fia-IIoh necessarily surrounds bear opera
~. NO important bull pools developed
mere was some movements which had
hnsnipuiative appearance. The best IL
uduon OF the n~arrowness OF the market
attested by the wide changes which
ssnVeHEreo in special stocks when a large
tn-.s or buying order was executed. TAX
- INTO consideration the changes In ths
fhl.Aet values which were made through
a. operations. the paucity Of ready supply
g. me Inability OF the market to diges'
shs.iy was apparent. When conditions like
arise. general interest In n~uotustoni