The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1901-04-01


Loans: increase s6,lloso
Deposits. increase ................... 3,S24.9O
Circulation, increase ................ 109, 800
Legal tenders. increase ........... 4l,S00
Total reserve. !, 445, 200
Reserve required, Increase $1,000. 956,22J
Surplus reserve, decrease ........... 2,40l ,925
The banks now hold 1850. 500 in excess of
reserve requirements under the % per cent.
rule.
The Ffnancier. in its issue of Saturday.
says. The bank statement for the week
contains several surprising features. 1t
had been figured that the interior had for
warded but little money to this center,
and the subtreaSy statements showed a
loss by the clearing house Institutions OF
about four millions. The Inference was
that the cash reserves of the banks by
reason OF the two operations had been
reduced several millions, but the weekly
exhibit reveals a loss ot only 81 AS. 700.
which, of course. puts a more favorable
aspect on the situation. For all that, how
ever. the position of the banks has not
been strengthened, since the expansion or
so.ll0.S0 In loans brought about a CORE
spending rise in deposits. necessitating
more reserve, and the effect Is shown III
a decrease OF s.. 40l. 925, which brings the
present excess to $,S70.50o. the lowest aver
age reported since Dec. 10 OF last year.
The expansion of Sc, 10. soc in loans can be
traced To changes in one or two large
banks. and represents special transac-
tions. As a matter of fact the leading
items were all influences in this way. so.
aside from a few institutions. the position
VI 1AtOlNlQudi llSNllullOnS QOtS not vary
much from the preceding week. The state
ment. on its face. forecasts a nrmer con-
dition in the money market. but TO what
extent or II Is difficult to determine. The
export of a small amount OF gold on a
Special ordering during the week has given
r-Se TO many conjectures Of an impending
movement. but IL is TO be said that normal
conditions do not warrant this belief"
WALL STREET REVIEW.
There was a feverish tone in the stock
market throughout Saturdays two hours
session and violent manipulation was in
evidence from time to time TO check a re-
dictionary tendency. Heavy realizing was
manifest in the opening dealings. espe-
cially In Burlington, Northern Pacific and
the United States steel stocks. These
stocks maintained their recent prominence
I'm the trading, so that their downward
course had a correspondingly large effect
on the general market. Burlington was
bid up TO III over Friday night about mid
way OF the session, touching a record price
at 1sCiz. but IL quickly fell back under the
hood OF realizing offerings. and closed with
only a fractional net gain. There was a
violent rise at the same time in the local
Traction stocks, Lake Erie * Western and
Iennesee Coal Realizing had already at
fected these advances before the appear
ance OF the bank statement. The bears
sold in the large inroads made on the sur
plus reserve and caused declires. running
TO q point in some cases. Supporting or
ders were met and the rally was made eff
tective by a sudden and violent rise In
Rock Island 70 1876. an advance over Friday
night of ", points. Atchison was marked
up IA at the same time. X revival of old
runorx OF a combination between the two
systems accompanied the advance. Rock
Island fell back sharply on realizing. and
the closing OF the market was feverish
and irregular with profit taking I'm force at
Some points In the last The United States
Steel stocks did not nuctuate more than a
fraction. but the dealings In them were
very large. There were wide advances In
a number OF high grade and usually mac
tive : tocks. including L~ackawanna. Norris
a. Essex. Pullman and Colorado Fuel. pre-
tsrreC. running from 81 to 10 points, the
latter In the last named stock.
Another eventful week has passed in the
stock market with a very animated and
varied speculation In full swing. The daily
average OF transactions has run well over
. million shares stock. and over &.ooo.0o0