davidaulloa/AmericanStories huggingface dataset:
The Indianapolis journal., 1903-12-15
BROKERS' VIEWS ON THE
WHEAT AND CORN MARKETS.
strong Day I'm Wheat and Prices Close
Above Saturdays Final Quota
tfons-Hfgher Cables.
Meyer & Kisar.l

CHICAGO. Dec 1l-wheat was strong In
spite of a dull and limited trade due TO crippled
wire service. Prices ruled above Saturdays
close throughout the session. The opening was
&c up on firm cables and very light Northwest
ern receipts The strength at Liverpool was at
tributed TO the raising OF the price Of Argentine
offers Private cables from Rosario say rain 10
impeding harvesting operations. Northwestern
markets were higher and millers at Minneapolis
are said 10 be paying nc over May for No.
northern. Country offerings continue light ana
there has not 5een enough snow In the North
west to hinder movement. The secretary or the
San Francisco Merchants Exchange estimated
the California crop at 100000 bu. compared
with 100000 bu year ago. The estimates OF
this authority have been proven approximately
correct by the crop movement the past three
years. The last hour prices became strong. The
chief long interest Is supposed TO have taken the
closed strong Estimated receipts tomorrow. iie
lar with local professional operators the nrst
hour and prices ruled easier, resSss,nf Ss, '9%ara
was small and almost entirely local. There was
very little in the way OF news. Liverpool cables
were firm. closing higher
IA. r.. Thompson & Co.. Indanapolis.l
CHICAGO, Dec. 1.-THE feature in speculative
wheat to-day was the demand for May that
scanned 10 be accompanied by sales OF July. IL
was credited to Armour and created something
OF a scare among May shorts There were much
smaller Russian shipments. Argentine cables
armsr than expected. There were general SHOWS
Sunday east OF the Mississippi, none west. and
49, cold weather. Outside markets strong
especially the Northwest Duluth was up over 10
on December
Corn developed into n rather firm market after
q weak opening and I'm spite OF considerable
local selling. There was an early decline OF 40
on selling ny the local bear party. This was
later recovered on buying by Chandler. Logan 4
sed S,San hT the Wheat nuctustIons and the oorn
rally was largely with wheat The cash corn
market was weak for the OF grades. with the
Toor selling at the lowest prices so far.
Porterleld Co., lndIanapolis.l
CHICAGO. Dec. lathe sentiment In wheat
was rather bearish locally. but foreign news and
cables were a trlne nrmef and the big interests
were liberal buyers. Northwest receipts
small. only about one-ha;s OF last year and the
worlds shipments were no. large as esti-
mated Russian shipments decreasing. This
changed the early bearish sentiment and caused
a covering which lifted May up 20 around NC.
On the bulge there was some profit taking and
CONTINUED ON PAGE IL. COL A. :
The Indianapolis journal., 1903-12-15

plying the credit needs OF the commercial
classes The more they enter the field OF proyid,
promotion, the less able they TO promote the
Mell,being Of the merchants The great increase
banks of New York and OF the country. was per-
haps d natural development in view of the ex-
traordinary expansion in speculation. and the ex-
traordinary output OF new securities but this In.
cause Of the congested condition into which the
bank credits developed.
XXX
This does not of course imply that they
should altogether stop loaning money upon secur-
tiles. AS matter of fact many mercantile bor-
rowers obtain credit upon their holdings Of
stocks and bonds The point is made that the
national banks the commercial banks. should
Keep the securities side OF their business strictly
the trnst oonn, 10 snS d ; sae ,easne the
main burden of supplying the credit necessities
derwriters, a line of business for which their
organization peculiarly fits them
Bank cearings of the United States in Novem-
Der fell 10 per cent. below November 1902. and
III below November. 1901. New York city ex-
changes were 2s.6 per cent. below last year, and
was the cause Of the decrease In the total as the
total clearings of the country outside of New
ias fork city was O.i per cent. higher. New Eng
Neaq dns e -, s ~ per cent below last
was IL per cent. The Middle West exchanges
the Increase was a5 per cent. The Pacifc states
ciearings rose 5.s per cent, other Western 5.a
and Southern lilo
canvass Of Wall street to obtain the views
OF financial leaders regarding Roosevelt has
brought out rather surprising show of friend
liress to him. II has been very generally be-
iieved that Wall street would like al
most any other man than Roosevelt elected Pres
ident l next year. While undoubtedly there is
some opposition to him. II Is doubtful IL 1t is
more marked than was the opposition to Nc
kinley or to Harrison.-Harden, In the Chicago
Record Herald.
AT the opening Of the market this morning
large buying orders were seen to have accumu-
lated over Sunday. coming mostly, we are told
py our New York correspondents, from outside
sources. indicating that the public were again
entering the market. This. combined with short
covering, caused general Improvement in
prices, the market closing at practically the
best prices of the day We still continue bullish
on the good railroad stocks and look for much
higher prices In the next sixty days The mar
ket. however. is still traders and we
would ADVISE Proht taking on any good bulge.
We are reliably informed that the Eries and
Union Pacific common will sell much higher
"A X Thompson & Co.
The Indianapolis journal., 1903-12-15

One Of the important questions with the
wheat speculator just now seems to be the
amount OF supplies in the Southwest. There Is
pretty general opinion that the supplies in
the Northwest light. and that perhaps 70
per cent. of that crop has been marketed. But
to the Southwest there is a diversity OF
opinion which keeps guessing the speculator
who wants to know pretty definitely the sta
tistics." Just at this time OF course one can
not rely to a great extent upon conditions and
mour manipulation is liable to discount the nat
ural trend OF the market any day.
xxA
The local brokers have been advised that
there is between IS and 60 per cent. of the
Kansas crop still in farmers hands. which
would mean something like so. .o0o, 600 bushels
less and would go ways toward offsetting
the small stocks in the Northwest.
The other extreme of opinion is represented
by the Commercial West. which estimates only
20, 100000 bushels back in farmers hands In
Kansas and sO.ooo.OoO bushels in the three
Northwestern States, estimate which. IL
true. would certainly suggest the probability Of
coming decidedly small unless the export de-
mand becomes even smaller than II has been
probably stimulated country selling. and the
speculative indifference OF the general public
The Armour line is supposed to be still a large
one, Ii. 600 600 15.ocO.0Oo bushels
George T. Evans. of the Hoosier State -four
mills. says: THE continued advance in the
market and the growing premium on soft
wheat in addition. have had the effect OF keep
ing buyers off the market. The foreign trade
Is out at present Domestic trade while hav-
ing light stocks still continues it's policy of buy
ing from hand to mouth, but when 1t does buy,
1t buys quickly at whatever pf,ces S can a ,neh
millers do not need 10 give away what STOCKS
they have The high Prices now @ ts are
wheat than was offered before. Demand for
feed shows some Improvement with prices
slight advance in feed. The reports from the
growing wheat in this region Indicate good
condition.
While the advance In the price OF wheat
stimulated the -four business to some extent in
the last week. as a whole, 1t was a dull period
for mills almost generally. Buying spas
modic and uncertain. Minneapolis mills re-
ported a fair amount Of business; but the ad-
freight rates has placed ,,h the .on NORTH
their competitors located elsewhere and who
are said to be getting q comparasiyeiy better
the reports as to sales made during the week
do not indicate that the competitors" secured
ner Of sse the wheat e
were few new orders booked though the mills
were kent busy on old orders. Sales for export
are rarely heard OF foreigners ideas of q
price basis are not in accord with those or the
sellers in Observation-Disclosures Miller.
Last week. for the first time since the move
ment of the present wheat crop began. exports
OF wheat and -four exceeded those OF the cor
responding week year ago. This fact had
something TO do with the bullishness Of the
option markets after the break the middle OF
The Indianapolis journal., 1903-12-15

There has been tendency during the past
week toward lower prices in some lines of coal
Indiana and Illinois domestic grades are not
holding to the firm basis they did a few
weeks ago, and while there has been no tend
ency toward a general reduction of prices.
actual selling figures show wider range than
In some time.
In the Western anthracite trade there con-
tinues to be dull market and although ex-
treme pressure Is being resorted TO the part
Of selling agents to bring about an increased
volume OF orders. results not entirely sat
isfactory.
Retail demand for anthracite continues TO
be Of fair proportions ard most dealers are
fairly y."-Black Diamond.
The Indianapolis journal., 1903-12-15
Paints and Oils.

The Paint. Drug and OIL Review says OF the
condition OF trade: "Some OF the paint houses
say that December is proving TO be more
satisfactory month in the general paint busi-
ness than November II any comparison is
possible IL favors December. though both
months are seasonably dull. The Improvement
now Is IN better inquiry from country
trade for stock to meet the demands of 1904
This inquiry has set In early Indicating that
stocks OF paints in the country not heavy
and that the 1904 trade will be large. That, at
least Is the general impression. II Is an en-
couraging circumstance that. so few signs OF a
duh season are TO be seen, but that. on the
contrary. every paint house is making prepa-
rations for big year to come. Prices gener-
ally hold firm."
The Indianapolis journal., 1903-12-15
GENERAL WHOLESALE
CONDITIONS IMPROVING.
Only DulIness Is In Those Lines Ex-
pected to show LuII Before HO1-
fdays-Revfew of the Week.

General reports indicate considerably I'm
proved tone In the wholesale markets. The
wholesale trades experienced season OF good
business during the past week. the volume
being in excess of the corresponding period
last year The only dulness observed is in
those lines which expected to show lull
Just before the holidays.
The Dry Goods Reporter says: THE jobblng
market is experiencing the regulation amount
OF winter business. Seasonable lines were
bought literally early in the season. but re-
tail activity throughout the West has necessi-
tated reordering OF such merchandise as gloves.
knit underwear and fancy silks. Late holiday
buying il improving satisfactorily throughout
the jobbing market. In few lines whole
saers handicapped by the shortage of mer-
chandlSe."
The Indianapolis journal., 1903-12-15

Butter-Sc; choice. 12alsc: Elgin creamery.
&c; state. &c.
Ezgs-Ffrrn at 26c.
Feathers-Prime geese. 3Oc per ID; prime duck
zoe per ID
Game-Rabbits. s125 per doz. s1a1.5 per doz
for drawn.
Beeswax-sOc for yellow. 25c for dark.
HIDES AND TALLOW.
Green-salted Hides-No l. TIC; No. 2, 6Ac;
No 1 calf. 10c; No. calf, &C.
Tallow-No. ]. 3lzc: No. 2. &c.
The Indianapolis journal., 1903-12-15
MONETARY.
Rates on Loans and Exchange-CIear-
fngs and Balances.

INDIANAPOLIs.-Comme paper, 4d6 per
cent; time leans sac per cent Clearings, $991-
60.32: balances, S15s, ,024-7S.
NEW YORK.-Call money steady at sos per
cent; closing bid 5. offered at ga. Time loans
easy; sixty days, per cent; ninety days 51z6I6
six months, 5AG5z Prime mercantile paper, 6
per cent. Sterling exchange firm; actual business
in in y bankers' sI bills. s4sS45@tSs5o for demand
4.s1 and si.S4GI4. S4l2; commercial bills. 479%
The Indianapolis journal., 1903-12-15
Small Lumber stocks.

The American Lumberman. reviewing the
trade OF the week. says in part: Market
ports from the leading centers reflect the usual
conditions OF the season While sellers of lum-
ber not looking for active demand. they
are forced to take OF a considerable trade.
The current call everywhere is for lumber to
satisfy consumptive demand that is extend
ing into the winter under generally favorable
weather conditions This season there IL more
urgency than usual for immediate deliveries.
because stocks generally light and broken
in the hands OF that class OF purveyors who
are In close touch with the building and manu-
featuring trade"
The Indianapolis journal., 1903-12-15
Local Financial Gossip;
Bankers and Brokers' Talk

The national banks at indianapolis have a
larger percentage of legal reserve than the banks
OF any of the twenty-one representative cities
East West, North and South. The percentage
of the legal reserve of the Indianapolis national
banks amounted to 1926 per cent. at the time Of
the last call The other city showing the largest
legal reserve is Houston, Tex. New York shows
1913 per cent, Washington, ID. c., 2S.Ss per CENT
Portland, Ore. 29.44 per cent. San Francisco.
2s.33 per cent. and st. Paul. 2slS per cent Fol-
lowing Is the list OF representative cities .he
Journal San Francisco, Portland, Columbus
Lousviiie, Houston. % onep PhiadeIpsia MINNEAPOLIS
Detroit St Louis, Cleveland Cincinnati. Savan-
nah, Baitimore, Brooklyn, Boston, Ne" iorA
Washington, ID. c.
The real reserve or cash means Of the Indian
apolis national banks is not shown entirely by the
percentage OF their legal reserve. National bank
notes are not counted as legal reserve. and the
deposits the banks have in any city but New
York. Chicago and ST. Louis are not counted as
part of their legal reserve. Legal reserves con-
sist Of balances in banks in the central
III Mew noIn ,h n,roiIer of the cur
rency, gold and silver coin, gold and silver Ger
t @ t a ana Nv @ ths national
Of this city had cash means amounting 10
SIG, 7s4, go.
sxs
and commercial publications of articles calling
attention the fact that the national banks as
a whole. curtailing loans on security coiiater-
al-that Is stocks and bonds which are listed
the New York Stock EXCHANGE or other stock ,oc
exchanges and whose value huctuates widely
II is interesting TO note that the national banks
OF indianapolis seldom. If ever, loan money on
this kind OF security. There is some loaning py
the local banks on the stocks and bonds dealt
In on the local stock exchange.
XXX
Commenting upon the curtailment of loans on
securities which dealt in on the New York
and other large stock exchanges, the Wall-street
Journal says: This fact has an important bear
ing upon the financial situation. The percentage
of security loans has declined more in the city
Of New York than In the rest of the country.
But. the development has been national one.
and while from 1897 to 1902 there a notable
expansion in loans based upon the security of
stocks and bonds, the results in the past year
have shown different tendency. The gain in
security loans has been only $23,000,OO0, while
the gain in commercial loans amounted to nearly
$16S co0, ,000 This change Is unquestionaby in
the direction OF conservatism and greater securf-
ty. The national banks essentially COM
mercial banks Their legitimate field is In sup
The Indianapolis journal., 1903-12-15
Money Rates Abroad.

LONDON.-Money 3d31k per cent: discounts,
3X. Consols. IS 5-16qs91sc.
PARIS.-Three per cent. rentes, 9Sf 571kc for
the account. Exchange on London, 25f 1Sc for
checks.
BERLIN.-Exchange on London 2om z5pf for
checks. Discount rates-Short bills, 4 per cent
three months bills, 3ss.
The Indianapolis journal., 1903-12-15
poulsry md Other Produce.
fPrices pa.d BIZ shippers. }

Wool-Iocnl dealers are paying for wagon lots:
Good medium merchanta5ie unwashsd. lie.
and braid. l5cs heavy merino. I04l2c;
Western. l2c-
Souitry-Young turkeys. I2szc: hens. SIC:
cocks, C: young ducks. Sc; springs. &c; geese
cheese-wlsconsin. lie: New York fun creams
1Dcs Swiss. isc; brick. 14c: umburger. l2c-
The Indianapolis journal., 1903-12-15
Failure Of a Boston House.

BOSTON. Dec. I-The failure of the Gates &
Strauss Company, dealers in women's garments
and furnishings, this city, was announced to-day.
The members of the firm say the suspension was
caused by false rumors in New York. which pre-
cipitated a run by creditors which they could not
Withstand, and that the trouble will be but tenn
porary. The liabilities are estimated at s150.0O0.
The Indianapolis journal., 1903-12-15

NEW YORK.-Bar silver. 55isc: Mexican dol
lars, 4l%c.
LONDON.-silver bars. 257sd an ounce
The Indianapolis journal., 1903-12-15
Treasury Statement.

ASHINGTON.-Monday's statement of the
treasury balances In the general fund, exclusive
of the 900 gold reserve in the division OF
redemption. shows:
Available cash balance. .$226, ,747 7S6
Gold III, $50, O23
Silver ........................... 7S5l7A
The Indianapolis journal., 1903-12-15

pected to be used to raid the market found
many purchasers and recovered. 1t is be-
leved these securities have been oversold and
the shorts will have trouble covering. Anyway
United States Steel has lost it's influence as a
market indicator.
The Indianapolis journal., 1903-12-15
Banking House
Of
A. M. FLETCHER
No. 7 Wall ST., New York City,
MEMBER NEW YORK
STOCK EXCHANGE

Transacts a general banking business.
Receives deposits subject TO draft. Divi-
6ends collected and remitted. Acts as fiscal
agent for corporations and negotiates secur-
ity issues cf railroads and other companies.
Deals in Government Bonds and other
Investment Securities.
Commission orders executed.
The Indianapolis journal., 1903-12-15
French Foreign Commerce.

PARIS. Dec. 1.-THE imports of France for
the last eleven months increased $51. .3o3 200. and
the exports decreased Sc, 524. 200.
The Indianapolis journal., 1903-12-15
Coal and Coke.
Rctail Prices.)
Drugs.

Bags, 25c per ton extra, ground floor dumped
in cellar; soc per ton extra second floor car
ried In cellar. From wagon. sc per ton extra,
by wheelbarrow. chute or basket.
The Indianapolis journal., 1903-12-15
LOCAL CORN MARKET HIGHER.

Wheat IL Weaker, Owing to Lack OF
Demand from MflIers.
The local cash markets begin the week with
corn stronger and wheat and oats weaker. The
The Indianapolis journal., 1903-12-15

Candies-Capital stick candy Cbrls) 5hQsc per
ID: common mixed. Size: grocers mixed. so
51zc; Banner twist stick. 7lzqSc; Banner cream
mixed, &c; derby mixed, TIC
Nuts-Soft-shelled almonds. 15c; Brazil nuts
I0c; flberts. l2c; peanuts. roasted. 7gsc; mixed
nuts 13c.
Ffgs-New Smyrna. 12c per ID.
CnuI md CaEe
The Indianapolis journal., 1903-12-15

Alcohol. s252927 20; asafoetida. 4oc; alum. PA
64c; camphor. eS9lOc: eochineal 5Sc: chloro-
pure. 32435c; indigo. 65g5oc; iicorice. Cala3.
genuine 35q40c; magnesa. carb.. o. 20G22c;
morphine p. W., per OF. 81. f5q2.7 20: oil berga-
mot. per Id. So opium. So 50Qs.7 IS: quinine. p. &
w per or. 32Q37c balsam copaiba. 55d60c soap
CASTLE Fr.. 13g1sc; soda. bicarb.. pa q5c; salts
EPSON. 1%q4c; sulphur -four. 2&Q5c; saltpeter.
StxlOc: turpentine 6347oc; glycerin. 16jkd20c:
iodide potassium. s2.4502. 80: bromide potassium,
45a50c: chlorate potash 1oqzUc: borax. 9Ql2c;
cinchonida. 29g3ic; carboiic acid, &c. cocaine.
muir. s405q425.
The Indianapolis journal., 1903-12-15

Cash quotations were as follows: Flour was
steady. No. spring wheat, SIC; No. 3, 769s0c:
low. 44c. No. oats. 35c; No. 3 white. s41zGs7c.
No. rye, 5111c. Good feeding barley. 35l4qS61sc;
fair to choice mailing. 43Q57e No 1 faxseed.
931kc: no. Northwestern. $1.ooh Prime timo-
thy seed, 81. s5 Clover seed. contract grade. s11
lbs, $S.fhG65O. Short-rib sides loose). $612If@
ss7i4: Short clear sides 0boxed). $s12,AGe. 2S
Receipts-Flour, II. 500 brls; wheat. 1900 bu;
corn. BOG. 400 bu oats. 264.0oo bu; rye $500 bu:
barley. 120. 200 bu Shipments-Flour. II. 100 brls
wheat 400 bu; corn. 81 200 bu; oats. 107, 700
rye, 22, 800 bu; barley. n, 800 bu.
The Indianapolis journal., 1903-12-15

Accounts of Banks, Bankers, Cor
porafions and individuals solicited.
The Indianapolis journal., 1903-12-15
THE JOBBING TRADE.
Candies, Nuts, Figs

The quotations given below are the selling
prices of the wholesale dealers.)
The Indianapolis journal., 1903-12-15

Seed clover. prime. $. 5oUs English clover.
ssueso; aisike. ssgl2. Timothy. prime. sl.7592
Fancy Kentucky bluegrass. 81 50Ql 70: extra
clean. 6o050c- Orchard grass. S282. IS. red top
socQSLsS. English bluegrass. 81
The Indianapolis journal., 1903-12-15
VisibIe Supplies of Grain.

NEW YORK, Dec. 1.-THE visible supply of
grain Saturday. Dec. II. compiled by the
New York Produce Exchange, was as follows:
Wheat a. eo4, 900 bu. increase CT 265. 900 bu;
corn, 5953 900 bu. an increase of 5000 bu; oats,
SGT. 900 bu. increase OF ZOO bu; rye, L159,
600 bu, decrease of 100 900 bu barley. 5, ,932 900
bu, an increase OF 99, 900 bu.
The Indianapolis journal., 1903-12-15

Last week. for the first time since the move
ment of the present wheat crop began. exports
OF wheat and -four exceeded those OF the
responding week year ago. This fact had
something to do with the bullishness Of the
option markets after the break the middle OF
The Indianapolis journal., 1903-12-15

with interest. ..For delivery when issued
The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1903-11-30
PANAMANS EXTEND
THEIR NEW EMPIRE
Spirit of Imperialism Reaches
Little Republic on the
ISthmuS.

PANAMA, Nov. 29.-The newspapers
of the isthmus are asking the govern
ment of the republic of Panama and oc-
cupy and establish sovereignty over the
islands of San Andres, Providence and
Albuquerque, as we'll as other small
islands in the Caribbean sea in long
itude 81 degrees, as the territorial linn
it's lie between longitude 70 degrees
and "a degrees. The department of
Bolivar, though bounded by the sew
enty-efghth degree of longitude, has
hitherto exercised control over the
islands, where English only is spoken.
The newspapers prefer that the gov
eminent shall negotiate for the trans
fer of the islands to the United States
for use as a coaling station.
Colombia Starts Blockade.
COLON, Nov. 29.-The steamer Yer
sailles arrived here this afternoon from
Cartagena. She reports that the Car
tagena authorities would not allow her
to clear for Colon or to take on passen-
gers, freight or mail for that port She
was furnished, however, with clearance
papers for Port Linon.
The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1903-11-30

kind. Being required to dine on salt
horse in lieu of the turkey OF the land
lubber they had gone forth to reduce
the spirit to the thankful state by inn
bfbing whatever there was available in
the way Of drinkables. The 'longshore-
men, with whom they came into con-
tact, supplied the necessary beverages
and the fighting men went from thank
ing to boasting and from that to man
handling each other 1t is not clear as
to which party started the trouble, but
it has been charged to the jackies-and
with some color of reason, for since
the day of John Paul Jones the Amer
lean seaman has been disposed to make
light of the fighting qualities of the
marine. Before the marines were
wiped from off the face the master-at-
arms interfered and saved the men of
his own ilk from being converted into
shark meat.
The impetuosity of the master-at-
arms must be regarded as regrettable.
An opportunity was here presented to
settle a moot question For the marine,
who stands between Jack and the
quarter deck, must ever be regarded
with suspicion and aversion by the
humble foremost lad who Is always
inspired to take the blood of the sea-
going soldier. Since certain marines
landed at Guantanamo and got close to
the firing line their kind has been look
ed upon with more disfavor than ever
by the man behind the big gun. The
mere fact that the foremost hand Is
not necessarily sailor in these days
when the top hamper OF a warship Is
limited to military mast has not af-
fected the attitude of the sailor man to
the marine.
The latter and the sailor person will
not live at peace until there has been
some decided blood letting and the
sooner the matter is settled the better.
Even in the case Of their betters it has
been demonstrated that a bit of ener-
getic head breaking is not bad prac-
tice-as witness the brotherly affection
lately come into life in the ship of state
managed by Tom Plat and Gov. Odell.