The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1900-04-06
MARCH BANK CLEARINGS
SLIGHT DECREASE COMPARED WITH
SAME MONTH LAST YEAR.
Due Wholly to the Absence of Frothy
SpecuIation-Legftim BUSH
ness still Expanding.

NEW YORK, April 5.-Rradstreets i'm its
Issue this week. will say. reviewing the
bank clearings for the first quarter of 1900:
During March a year ago industrial
stock flotation was at its height, and spec
ulation in these and other securities was
of an enormous volume. Trade, too, was
good. and staple prices were advancing.
The result OF the working of all these
forces was reflected in the largest aggre-
gate of bank clearings ever reported. Com
passing, as current returns do, with these
enormously swollen aggregates, il is not
surprising to find that the totals for March
this year show considerable decreases, and
yet, II the details are carefully gone into,
little but what Is encouraging can be
brought out. and IL will be found that with
the foam Of speculation absent the remain
der, which constitutes solid business, is of
really very large volume.
'sThe total bank clearings at eighty cities
for the month of March, 1900. as reported
to Bradstreet's, aggregated s7.5S2 %, 465. a
gain OF nearly 10 per cent. over the short
month OF February, and a total practically
as large as the aggregate for January this
year. Compared with March a year ago
L.,
but compared with March. 1895, the gain is
over IS per cent. AS the varying number
OF business days in the different months
cause some differences in comparison il
might be remarked that the aggregate dai-
Iy clearings at all cities i'm March were in
excess OF $3.50 Ooo. 900. while in February they
were nearly 500. 100000. in January s245, :
900. and in March a year ago they were
nearly So. 100000.
in only two groups is the total of bank
cIearings this year smaller than a year ago
I'm March. and these two groups contain
the great speculative centers country and
such important cities as Boston and Phila-
deIphia- The decrease in New England is
1916 per cent, while the falling off i'm the
Middle States group Is 16.S per cent. Touch
ing this latter decrease IL might be OBJ
served that the increase at New York alone
IS Is per cent. Among the sections showing
gains the far Western cities are prominent,
with an increase of 12.2 per cent and the
Western and Southeastern cities come next.
with gains OF, respectively, 90 and 81 per
cent.
..The falling of of 2 per cent at Chicago
IS responsible for the very slight increase,
1e per cent. shown by the Northwestern
group. A decrease Of % per cent. at Balti-
more explains the slight gain. as per cent
reported by the Southern cities. in spite OF
active cotton speculation this year IL the
clearings at New York are excluded, the
decrease Is only Is per cent. and To heavily
reduced speculation at a few cities may, in
fact be attributed the entire decrease
shown in March this year. Philadelphia
shows a decrease OF % per cent, while
Pittsburg shows a decline OF 10 per cent
.-As Illustrative OF the expansion OF Iesit-
innate business this year over last IL might
be remarked that one out of seventeen CEN
tral Western cities shows a decrease from
March a year ago. only two out OF fifteen
Northwestern cities, only one out OF eight
in the Southwest. only one out OF fifteen in
the South. and one out of nine in the far
West.
For the first quarter of the current cal
endar year the clearings at eighty cities
aggregate 81 $50 sc. 06o. a decrease of 10E
per cent. from 1853. but a gain OF 26.7 per
cent. over 1885. OF 74.5 per cent over 1897
and OF IS per cent. over 1884 The respon-
sibility for the decrease here. OF course Is
placeable on the decreases shown at the
few large speculative centers. Outside OF
New York. IN fact. the total clearings actu-
ally show a gain OF nearly per cent, and
the decreases OF Sc per cent. I'm New Eng
land. Of l5.3 per cent. IN the Middle States
compare with gains OF fs.3 per cent. I'm the
far West. of 1916 per cent In the central
West. Of fe3 per cent I'm the Southwest. OF
So PEE cent. I'm the Northwest. and AZ per
cent. <n the SOUTH