The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1903-12-24

which scored substantial advances AS we have
pointed out from time 10 time, there Will be no
terest period at the FIRST of the year. and as
money promises 20 continue easy, we see no
reason why stocks should not sell higher. We
still continue bullish and advise the purchase
of Missouri Pacific, Union Pacific. Southern Pa
cihc, American Sugar, Manhattan and Reading.
Porterfeld & Co.-There will probably be more
covering by shorts in the wheat market to-day.
lines over the three holidays, with bull pool
in control and the war cloud in the East loom
ing up.
The bank money-order committee OF the
American Bankers Association has agreed upon
the following points: That there should be a
uniform bank money order which can be used
by any member of the American Bankers AS
ISOLATION when drawn on its regular corre-
spondent-involving absolutely no extra labor
entries the present methods of selling
exchange; that no order will be issued for
than 800 600: that each member OF the
American Bankers Association be requested
to honor these orders at par: that each order
issued is to be guaranteed absolutely by one
of our strongest and best guarantee compa-
MES; that II any order should not be paid for
antee company will redeem it at once: that
there shall be a uniform rate for the issuing OF
the executive council of the national body at
its meeting in April.
1t was estimated by New York banker yes
terday that Wall-street brokers are at the pres
emit time borrowing 100000 600 less time money
than they did in December a year ago. This is
largely due to the absence Of any public in
terest in the stock market 1t is ealso due to
some extent to the fact that brokers. instead
from day to day with call loans. Brokers are
holding off their time loans. believing that
ming Of the new year.
1t is said that John D. Rockefeller is the
largest individual owner Of Missouri Pacific
stock and is also very large owner Of Mis-
souri, Pacific bonds. The Rockefeller interests
in Wabash and Western Maryland are main
who Is understood to have large interest in
the Eastern railroad interests Of the Gould
family.
study of bank cearings during the last
eleven months explains why the West has been
unable to understand the depression in the East
The figures show that for the eleven months
New York clearings decreased 1873 per cent,
shows of per ssnt
been due largely to the falling off in specua-
ton in these cities In the West on the other
hand. bank clearings show a decrease in only
two important centers. Chicago bank cearings
for the eleven months increased So per cent.
Indianapolis gained 1873 per cent, New Orleans
1873 per cent, San Francisco IL per cent. Pitts
burg IL per cent. and Milwaukee 1912 per cent.
A banker in close touch with the situation to-
day declared that the associated banks would
reveal surplus of 100000 by the middle of
January There is no demand to speak of for
funds on the part of commission houses, and no
heavy loans are expected unless bull cam
money market shows increasing independence on
| the part Of Wall-street borrowers which reflects
turn flow of funds.-Harden. in the Chicago
Record Herald