The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1902-09-19
FINANCIAL AND INDUSTRIAL.

The hine-Westphalian pig-iron syndi-
cate has reduced its prices 80 cents per
ton.
The Lokal Anzeiger, of Berlin, prints a
liza. saying that the coke syndicate has
sold large orders of coke for the United
States
Prices opened weak on the Berlin Bourse
yesterday. owing to the possibility OF a
count, but recovered later. Canadian Pa
cifc was harder on New York advices.
Business was slack.
Governor Longino in an open letter re-
fuses to call the Mississippi Legislature In
special session, in order to repeal the "co-
insurance clause on cotton which has
caused much dissatisfaction In the State
for some time.
Lazard F-reres. of New York, were in
formed yesterday that the London, Paris
and American Bank Of San Francisco had
increased its shipment of Austrian gold
from $4,000 to $l,25o.oO. The gold is due at
San Francisco in the early part Of next
month.
Officials of the Imperial (English) Tobacco
Company declare that they have not heard
of any proposition to combine with the
American Tobacco Company. The predic-
ions to this end published in the West
minister Gazette come from an indefinite
source and are not reliable.
The weekly statement of the Bank Of
France show the following changes: Notes
HI 1iAS oAS
ury accounts, current. decrease, 3,S15,OOO
francs; gold in hand decreased. 49, 900
francs; bills discounted Increased $3.50, 600
francs; silver in hand decreased 1850, 600
francs.
Business on the Paris Bourse yesterday
was unsatisfactory. Prices opened weak
and somewhat active on realizations. Later
Thomson-Houston rallied. Rio Tintos re-
acted early in the day on New York ad-
vices and the unsatisfactory state of cop
per, but rallied briskly. The private rate
of discount was 2 Lille per cent.
At the ~semi-annual meeting Of the Bank
nounced that the net profits for the six
months ending Aug. 81 were 1851 ,O65, max
ing the amount of the reserve fund against
contingent liabilities at that date $1S.SS7,-
740. The usual six months dividend OF 5
per cent. was declared.
Dawson meat men are organizing a COM
bine to control the stock In the Klondike.
The combine" will have to take care, not
has been contracted for, the value Of
which will amount to more than $1,000. 00.
Restaurants, hotels and large mining COM
panies are laying in large stocks in antici-
patton of a sharp rise In prices.
A license was issued yesterday by the
superintendent of the Missouri State Insur-
| ance Department to the Individual Fire
Underwriters Company of st. Louis, with a
| capital stock of $35O,00O 1t Is the only COM
pany of the kind in the State and has
twenty-five stockholders, among whom are
some of the most prominent business men
of st. Louis, including the mayor.
The weekly statement of the Bank of
England shows the following changes: To-
tai reserve increased f31l 900, circulation de-
creased a234 1900. bullion increased E77.5l9.
other securities decreased G271 900, other de-
posits increased s45a.oN. public deposits de.
creased a326.OoO, notes reserve increased
G342, 900, government securities increased
E1O0.W 600. The proportion Of the Bank of
Enpiand's reserve to liability Is "a. 40 per
oa,t Last Week If WAS 52 IS per cenf Rate
Of discount unchanged at 8 per cent.
Rates for money were easy in London
yesterday and discounts had a tendency
to be easier In harmony with the harden
ing of exchange and less nervousness re-
garding the probability of gold shipments
to New York, though money centers and
Lombard street confidently expect New
York must make demands. On the Stock
Exchange the Forthcoming issue of treas
ury bills depressed consolS and home rails
sympathized with them. Americans were
fairly steady and mostly a fraction below
parity.
fire underwriting for the central Western
States is situated is holding its annual
convention at Frontenac. ". Y. President
j. NJ. De Camp. in mis- address, congratu-
lated the members on the success of the
movement in the West for advanced rates.
What is known as union territory yields
IS per cent. of the premiums of the country.
The % per cent. advance on certain classes
was equivalent to 5 per cent. on the whole
business. Mr.. De Camp quoted figures
showing that the average rate. despite the
increase. was 5 or 6 points less than in
1896. and showing only a slight sharing
in the general prosperity.
Chicago banks are shipping from 81. &c.,
600 TO S2,000,00 daily to the country banks
of the North and Northwest and South and
Southwest sections of the country to meet
the demand of the farmers for actual cur
rency TO pay the expenses Of harvesting
and marketing the grain crop. The move
ment Is In excess OF last years shipments,
although the harvesting season is far from
being over. 1t is estimated that over $751;
Op0. 600 will have been shipped by Chicag go
banks in bills of s.. $40 and $50 demomina-
lions to the farmers of the Mississippi val
ley before the crops are all put away for
the season. This large amount OF money
is not considered an indication OF abnormal
conditions nv local bankers who haye liant