The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1904-02-16
General Financial News.

Bond sales in January amounted to $50, 354. OS1.
according to advance sheets of the United States
Investor. These figures do not include tenn
porary loans. OF the above amount SIS. 223. ISL
were issued by cities and towns. s7s5. 900 by coun-
ties. $3.50. 900 by the State OF Massachusetts,, and
$40. OcO, 600 by the Philippine islands. This amount
sic reported for the month of December and an
increase Of Sl4, 4S5. AZ over the SIS, s6S, S6. SO re-
iRs Drter issues .or tne ar @G noted or on SaH Of $50. 600 oS5Si by o Pit the
burg. Pa, one OF $4,000 by louisville. Ky, one
by Reading, Pa. one of $3.50 600 by Austin s' Tex'
one of s275.Ooo by Gardiner. Me. The large is
Massachusetts Of s13, 22S, 5S1 bonds were a prom
inent feature in the months transaction.
Wall-street Journal-The approach of spring is
shown in the diminishing receipts of currency
from the interior. The outflow has not vet be-
gun. but the beginning cannot be more than two
or three weeks in the future. In 1902, the first
net loss OF currency to the interior was reported
in the week ending Feb. p.
the total since Jan. 1. 1904. up to $37, 42l, 500. or
si,12S, 800 more than the net loss of |S' ISL 500
during the crop movement of 1903.
Meyer & Kiser (from their Wall-street CORE
spondent)-There is no disposition to embark
upon new ventures whilst the political situation
is so clouded. The financial articles generally
comment upon the comparative stability of the
market during the past week in face of adverse
news. This. however. was caused TO a large
extent by covering of shorts and did not indi-
cate in any way that outside speculation was
increasing. In fact not only has there been no
increase. but there has been a marked diminu-
ton OF the investment demand in the bond mar
sition to discourage speculation on account OF
the persistent borrowings OF corporations.
New York upon the mar
ket management of Pennsylvania stock during
49, 1aet aSChfaan paOnthS SpocialiStG and
say that they recall nothing more adroit. After
each Of its ownward movements the stock has
looked too weak to buy, and after each of it's
recoveries too strong to sell. A specialist said
" est tT.er nr IL for for fbep stnck setI mn 70 point
says. keep coming in, while on the advances the
bers, however. that similar appearances on this
same level a few months ago proved to be very
deceiving.
In the abstract OF condition Of national banks
under call Of Jan. Is for entire United States
the principal items show: Loans and discounts
on Jan. % were 50, 4ss. 49,. 900. against 50. 425, OS5.-
300. 0C0; surplus fund and undivided profits. s563.-
$4,000. against $3.50 a2 0o; Individual deposits.
IS. 300. 6l9. 600, against SS.l76,2ol. 900.
1.-The bond market is in an unsettled condi-
ton says a leading financial journal, largely
by reason OF the fact that the recent offerings
of the New Haven Railroad debentures and
Missouri Pacific notes has filled any present
demand and the market has been weakened by
bond offerings by insurance companies. A num-
Der OF blacks Of bonds have been bought back
from the insurance companies by the bond
houses. Some idea as to the extent which the
fire Insurance companies are obliged to dispose
Of securities can he gathered from the fact
that the losses of the Hartford fire Insurance
companies alone by reason Of the Baltimore Are
amount to between 81 900. 600 and s.. OO. 600
although published statements are considerably
under this figure. 1t Is understood that another
PENNSYLVANIA loan is ready TO be offered when
the market Is in better shape to take in The
Virginia & Charlestown Railroad, one Of the sub,
companies OF the Pennsylvania. IL was proposed
TO sell these bonds upon a 3s per cent. basis but
at present il is hardly probable that they could
be placed upon such favorable terms. The honds
were sold a month ago TO Kuhn. Loeb a. 20.
They were issued 20 refund bonds falling due.
The Boston & Maine will not issue its proposes
were SO. SO. 600 Fitchburg 5 per cent. bonds which
fell due at various times within the past vear
and as the market at the time was not in con.
dittot 10 permit OF the sale OF new bonds al at
isfactory rates. six months notes were put out
These six months notes are now coming due
and the Fitchburg Railroad has arrange
through local banking houses TO replace them
al various times between March 1 and Nav p
liz Is understood that the notes are being sold
upon a as per cent. basis"
OF the s5O.Oco.OO Pennsylvania notes nego-
tiated by Kuhn. Loeb & Co, $50. oN.o 900 were
placed abroad.