davidaulloa/AmericanStories huggingface dataset:
The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1904-04-17
OIL MEN LEAVING KANSAS.
Development I'm Ohio and Indiana
Field Is Progressing steadily.

TOLEDO o.. April 1s.-For the past few
months oil men have been leaving the Ohio and
Indiana fields for the newer fields OF Kansas.
The now returning Disguised. The Kansas
field is in the hands OF the boomers, and but
little will be done in the way OF legitimate oper-
ating until the bubble bursts. and then the real
oil men will have opportunity TO try their
hand. Hundreds OF tool dressers and others
locked TO the West. but find there Is work
for them and they wandering back TO the
Older oil regions. Many OF the Kansas wells are
shut down for the want OF tankage, the
tanks full Of crude. Additional iron storage
tanks will be put up at
To Offset the drop in the credit balance mar
ket, operators in Ohio and Indiana are bringing
list are OF more than ordinary Importance. Rey-
nolds a. Marks are credited with the real gusher
OF the week on the Albert Wright farm, in Sec
ton %. Crawford township, Wyandot county.
The nrst days production amounted 10 $40 bar
rels. which went into tanks and about 800 bar
rels upon the ground The flow subsidized in about
forty-eight hours. owing salt water, and the
gusher Is no longer gusher, as IL has been
rugged up for an ordinary pumper The oil was
found in a crevice, and the territory is of a
spotted nature.
The leading excitement Just at present is in
the vicinity OF Eaton, Muncie and Selma, in
Delaware county. Indiana. where a fine pay of
oil is being found at something like 300 feet in
are now under way and before the close of the
present season the territory will develop into a
sensational oil field.
During the past week ia wells were completed
and the balance having new daily production OF
6,2I5 barrels.
The wells we're divided among the various
counties in each State as follows:
The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1904-04-17
IHOS. G. DAY CO CO,
Law Building
ISSUANCE OF GOLD GER
TIFICATES RESUMED

The issue OF gold certificates by the subtreas-
urles thror ghOut the country. which was sus-
pen1ed Jan IS because outstanding issues xera
81 excess Of the gold coin in the treasury though
there 81 that tL:is a very large amount ~
uncovered solo bullion N the minis and ASSAY
Offices. wa resumed on April l. there having
been a coinage In the preceding two months OF
nearly So. ooJecO or gold.
While the issue OF gold certificates was sus-
pended. more or less inconvenience was experf-
snced at al the chief centers OF the country
certificates for the purpose OF settling balances
81 the clearing houses and also for other uses in
their daily business. and this inconvenience wa :
most seriously felt at this center. where surE
balances are daily very large in amount In Ifs,,
az such certificates gold cotn had 10 be axfen
slvely used by those banks having the Account
OF foreign importing houses which are reo,,f,s,,
% make deposits In the special customs fur5 =,
tho subtreasury. against which checks are dra ~,
for the payment OF duties the custom hons
and thus not only were the banks inconvenencg "A
In settling their balances. but also in effectir,c
payments OF duties for their customers on soma
100000 OF gold coin between the subtrea s,,r,.
and the clearing house for the settlement OF Ia i
ances- alone. and on one occasion about "a tens
nearly <l.150.0,o OF gold coin. We're tranSfe~rai
from the subtrcasury 90 the clearing house Thess
movements. IL may BE noted. We're ar TIE 81
p<nse OF the banks which are required 10 aets<,sr
10 and receive from the sCbtreasury all moneys
for the adjustment % balances az their own rts.<
snd cost. The RESUMPTION OF the issue OF cola
certificates. therefore. viii only be a con-
venience 20 the New York banks bat IL will re-
lisve these Institutions OF the expense OF tue cart,
age Of gold coia--The Financier.
The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1904-04-17
contested MONEY SITUATION.
Such Condition Does Not Indicate I'm
favorable Business DEVELOPMENT.

The comparatively large surplus OF the New
York associated banks and the resulting cone..
ton Of the money market seem to be regarded
though enormously. as indicative Of the develop
ment OF unfavorabe business conditions through
out the country. The present statement OF the
condition Of the national banks as of March %
which is now being complied WITH in response
to the call Of the controller WILL when accurate
ly compiled in consolidated form most lixeI,,
disclose the fact that the interior hanks are NO,
in unfavorable situation and that businsss
conditions throushout the country are not de-
pressed. While awaiting this report of the cor
troller IL will doubtless be of interest to recall
previous periods OF business and monetary de-
rangement, noting the causes contrfbutory shars
TO and the effect which was produced upon the
in the country. This review of previous co,d.
tions also shows wherein lies the difference be
tween monetary congestion resulting from crtoe-
and. that which is due TO abnormal situations
like the present when there is evidence eithsr,
of business depression Of financial unres, CT
absence of confidence. va
The largest surplus reserve ever reported h,
the New York associated banks was s1Ii sss ss sgy
Feb. %. 1894. This followed an increase 800 900,
$50. 10000 at the end of November in I'm
been an expansion of only 100000 in In mad
and of s2sO0oOOo in deposits while the ca ra
serve had increased b. $50. Oo0, o00 The conraa,s
in the market then was due the operations' f
cident the sale. by the secretary OF the ,sa IN
purpose Of reinforcing the gold rese nrs Tor the
treasury. and il was also due to the denra. me
resulting from the crises of the previous yss
The controllers reports for this period sbo a
the loans of the national banks OF the r unat
country expanded from 81. Ss3. 600 0o0 In Oc,ote
1885, to sl.s12. 100000 at the beginning ~ fee.'
ana TO 81. 900 900 in October of that year dsss
individual deposits fell from S175o 600 0oo n,ie
bank deposits. however. were augmented ga ,sd
0O0 The congested condition OF the Ioca, 1922.
market was indicated by the fall in rates =, .ey
from 5 per cent. in October 10 u OF ! ner q. al
in December, 1893 in the following wear lent.
1895 the rate did not rise above per cen, u IN
the end OF the year. the longest period OF S.rnli
sion in rates record. ePies
-Aran far
the abnormal conditions. There was more - lot
unrest the result OF the treasury situattor isss
Industrial and commercial instability o. nsa and
tariff reductions producing situations ,,nfspy
able TO the active employment OF money Whu-
there absence OF crises the corn,--' .ne
in state of almost continual apprehens;o was
such eyents.-The Financier. OF
The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1904-04-17

Inc tinancier says:
The notable features OF the statement of the
New York associated banks last week were a
further expansion in loans and high records
for cash and for public deposits. The loan item
increased by s4.721. 100. making $40 547 900
the last fortnight, 1884 coo the beginning
OF the year and $685. cas- 900 compared with the end
OF February. The increase this week, the
case in previous weeks, most likely due to
syndicate and corporation borrowings.
The cash gain reported by the banks was
S7.2S9, eco, which amount S2.30O.OOO less than
able movements or money during the week. De-
pOsis were Increased $l1 COS COO. and the required
reserve was thereby augmented 2.y0i, 400, de-
Quoting which from the gain in cash left 81 1885, =
2oJ the increase in surplus ST. 304 6O0
Computed upon the basis of deposits less those
OF 500 Isl, 200 issue funds, the surplus is Si 35 90
The statement showed a good proof the sum
of the increase in loans and of the gain i'm cash
being only Sio5,lO0 greater than the increase in
loans. Ii may be noted that the cash gain was
made up of S5.64i, $40 specie and 81 645 coo legal
tenders. This carries both the special and the
total cash reserve TO new high records.
The public deposits also show the maximum
since they began TO be separately reported in tho
bank statement Circulation was decreased BY
sos 600 The daily clearings averaged $780, 600 600
or S20vo.eo less than those of the previous week
the clearings on Saturday rejecting Friday 8
business were Sly. I+l.230. or above the average.
The statement may have been affected to some
extent through the preparations. which were COM
pleted at the end OF the week for the merger
become effective on Monday. Loans of Individual
banks IN the association show a net gain of
S2,yJ,OOo by six institutions. The cash gains nv
these six banks were s. 600 net.
The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1904-04-17
METHODS OF HIGH FINANCE.

Events OF the past two months go to show that
our leaders of high finance so-called, have mis-
judged the temperament Of the American peopls.
No nation is more patient and long suffering In
its dealings with domestic difficulties. but none
est is aroused. Our captains OF Industry have
had easy sailing for several years They seized
the psychological moment for the furtherance
of their plans: they conceived vastly and exc.
cuted promptly. In overriding difficulties how
ever, they were reckless OF public tolerance
Legitimate financial enterprises were changed in
character TO mere predatory excursions. The cap
tain OF industry. that national demi- god OF whom
we have read much. seemed TO have cast asid.
every scruple of old-fashioned honesty for new
doctrine whose chief aim Is embodied in tha
take who may and keep who cam principle
Only last week one OF the modern school NJ
promoters testified on the witness stand thar thu
profits in single notorious stock-jobbing deal
were TN excess OF s44.e00.0oo, correcting himself
later TO that the rea. profits were sec 600 600
and evidence in other suits has shown eouaIIv
dazzling booty, wrung out of the public by pros
titution OF great names. unblushing living and
Gespicable INSTRUMENTATION. Perhaps the bubble
deserves no sympathy, very little at the most
but It's loss is trsceable TO Ignorance and aIso
To its belief in the fundamental integrity OF its
financial leaders. This belief. IL is unnecessary 10
repeat here has been most sadly misplaced hu ~
II is doubtful whether the dollars gained are
worth the price that will be exacted I'm the future
by the people from whom they We're wrung
Aside from this the great justice-loyinr ponu-
lace OF the United States is aroused by me raye
Iations which have been only too pIeniifuiiv s,,n
piled in the numerous suits at law growing on,
OF the malodorous deals in which our financ,si
leaders been involved in the past sevsrsi
years. The Northern Securities cempanv bss
been pronounced illegal by the highest cour, ~
the land. the coal trust has been reminded ~,
the same tribunal that IL is not above the Ia NJ.
the shtpbuilding combine has been exposed snd
after case OF lesser import is likely 10 meet
With the same disaster in the future What -
this pcrtend? Simply that the conscience or fhs
American people Is aroused. Immersed in their
own atairs they are, rule. neglectful 80
public duties. but once certain limit is reached
offenders are apt 10 be brought 10 with a ou,cr
turn. our leaders OF high finance have over
stepped that limit In their shortsightedness thev
have mistaken tolerance for indifference or In
capacity 10 realize what was going on and as
result they find arrayed against them a ssn,t
bat.-The Financier. - WA
The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1904-04-17
THE COTTON MARKET.

NEW YORK, April 16-The cotton market
opened steady at decline of 1sa17 points on
the old crop while the crop was points
lower TO point higher
The declines were due to liquidation by room
longs following disappointing cables and a
bearish visible supply statement. while the rela-
tive steadiaess on the new crop months was
caused by further reports Of cold weather in
the western belt. particularly Texas
The forecast called for still colder weather
tonight. though temperatures were Thought
likely TO be higher on Sunday and after the
opening the market turned firmer recovering
several points or the early loss. on buying by
reports OF damage to early planted cotton with
much OF the demand coming from New Orleans
The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1904-04-17
INDIANAPOLIS & MARTINsvILLE
RAPID TRANSIT co.

Waiting room and station. a. Kentucky avenue.
First leaves from in front OF No. A. Ken
lucky avenue for Martinsvslle and intermediate
stations at $50 a m and every hour thereafter
the half-hou mark until ESQ - m The I'D
p. m car runs only 10 Mcoresyfe, the TO car
runs TO Martinsvfe and the and last
leaves at IL 80 p m, running 10 Martinsvle-
Leaving Martinsyille for Indianapolis and in
termediate stations first at $50 a and
every hour thereafter on the thirty minute mark.
until $50 ID. m The 7:S0 y. only 20
Mooresville. and the 800 car TO Indianapolis and
the next and last car leaves at 1880. running 10
Indianapolis
Cars leave Mooresviils for Indianapolis and
NJ ~ ssAIiIv osfB III Oo:z s,IDdsp puv ru y
W:oT ~ sIIodsuDypuI ~ ssAIxls z0o ssssdx3
u - Ogs ~ sIIiAsuTalSW
The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1904-04-17

LONDON. April ls.-Money In light de-
mand in the market to-day. the pressure having
been relieved since the closing Of the appIica-
tons for the County Council loan. which is a
phenomenal success. and revives the prospect
OF other big loans. including the immediate
issue of the long expected SIS 900 900 balance Of
the Transvaai loan These rumors were chfe0y
responsible for the reaction in consos
On the Exchange trading was quiet and fr-
regular profit taking. the feature being a
demand for Japanese. which rose IL poinfs
consois opened easier. but hardened at the close
The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1904-04-17
IN INDIANA
BANK STATEMENT Is GOOD.


NEW YORK. April 1s.-The statement of the
clearinghouse banks this week is good show
ing and was generally regarded favorably in
Wall street. this in spite OF the fact that the
gain in cash was not large had been esti-
mated from the weeks movement of currency.
Four new high records were made in the state
ment to-day: The grand total for loans 81, 04S-
254 1OO deposits 81 09 u.s. 400; specie s22S 46 900,
and cash holdings, 1901. 5S4, 200.
Following is the statement in detail:
The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1904-04-17
INDIANAPOLIS & NORTHWESTERN
TRACTION COMPANY.
GENERAL oniees. Lebsnon. Ina.

Qeneral Omees. lebanon, lno-
Indianapolis waiting rooms ticket ONCE and
.rnress once 119 West Maryland street, Union
Block Room 8.
IT,. through car for Lafayette leaves Indian
lie AZ a. m and arrives at Lebanon at $40
ap0 Frankfort $50 a m. and Lafayette IS
a. nA'' Second through car leaves Indianapolis AZ
o. m arrives at Lebanon at 81 a. m, Frank
Sort at STA a m and Lafayette at s;i7 a m
am Iebanon leaves Indianapolis at II 30 p. m
~ through from Lafayette leaves La
.ratte at e:25 a. m, arrives at Frankfort at ia
M Lebanon at Sis a. and Indiana polls at
S-as a M, and every hour thereafter until 9 Is
n m Last car from Lafayette to Lebanon leaves
lafayette at LIS D. m. and arrives at Lebanon
at lis a m
Express Department = Consisnments received
until 10 o'clock a m. for delivery the same day
20 all points between Indianapolis and Frank
fort and until p. for delivery 10 all points
before o'clock the next morning.
The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1904-04-17

MEMPHIS, Tenn. April ls.-r-n,.os
States District Attorney George Rando,,h
eral Knox stating that there can be M, e,l
peal from the decision of the Federal S,o,,pp,
in TIE case of G. r. Howard. recently tried
in this city on the charge Of subornation
of perjury. at which time Judge .Hammond
sustained the demurrers in the case. Hos,'
ard will be given his liberty soon.
The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1904-04-17
Movement Of Specie and Merchandise.

NEW YORK, April 1s.-Total imports OF dry
goods and general merchandise at this port for
the week ending to-day were valued at 81. 2si,-
239. Exports of specie from New York for the
week $547 095 silver and Sl51l,S28 gold.
Imports of specie at New York during the week
s24. 431 gold and So. $50 silver.
The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1904-04-17
COLUMBUS e SOUTH
ERN TRACTION COMPANY.

Through passenger cars leave Pennsylvania and
Washington streets for Southport. Greenwood.
whiteand. Franklin. Amity. Edinburg Iaylors-
Vile and Columbus. First car at a m and ev-
cry hour thereafter until p. m. The last car
leaves at II .l5 D. m At and 10 p m cars leave
Cor Franklin and intermediate points only.
Combination passenger and express car leaves
Georgia and Meridian streets for Greenwood only
at Ga. a m. and $40 D. 10,
The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1904-04-17
Rates ABROAD d.

LONDoN.-Money. ld2 per cent: discounts.
1-16G2 gle per cent. Consols. SS1sQSSA-
PARIS-Exchange London, 2Om 45hpfg.
Discount rates Short bills pa per cent; three
months bills. 27s per cent.
MISUNDERSTANDING London, 2oun 45izpfg-
Discount rates Short bills. "a per cent; three
months bills. 27s per cent
The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1904-04-17

PARIS. April 1s.-Prices the Bourse to-day
opened firm. except Russians. which were feeble
on an unconhrmed report that Port Arthur had
been captured by the japanese The falling on
of Russians led TO a sympathetic decline IN
French. Turkish and Spanish securities. AT the
close these stocks were feeble. Russian imperial
tours closed at 80 .05. Rio Tintos lost francs.
The private rate Of discount was =. per cent
The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1904-04-17
GREENFIELD LIN

General Offices. Franklin Building.
ALI, CARS DEPART FROM MERIDIAN AND
GEORGIA STREETS.
For Richmond. New Castle and intermeciats
stations cars leave at s:55 a m. and every two
hours thereafter until 655 p. m.
Above make direct connections for Dayton
Columbus. Newark. Lima. Marion and Cincin-
natl. o.
For Greenfield. Knightstown and intermeciats
stations cars leave at 5:55 a m. and each hour
thereafter until 1:55 p. m and s:55 2. m Cars
leaving at s:55 and IL :55 p. m. only far as
Greenfield.
Combination passenger and express leave
at 555, 7:55 and IL :55 a. m. for Knightstovn and
SIS a. m and 2:55 r m. for Richmond
FREIGHT CARS.
For Knightstown. Richmond and intermediate
stations cars arrive a: 7:i5 a m. and depart at
$50 a. m. For Greenfield and intermediate sta
lions cars arrive st 7:l5 a m. and leave at 90
a. m Also arrive at 2:l0 p. m and leave az s.S9
n.
The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1904-04-17
Markets for Silver.

NEW YoRK.-Bar silver, 5sAo; Mexican dol
lars. 43c.
LoNDON-Bar silver a4ld an ounca
The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1904-04-17
New York Rates.

NEW YORK.-Money on call nominal: no loans:
Time loans easy; sixty and ninety days. Tags
per cent. six months, 80. Prime mercantile
paper, 4Gl41z per cent. Sterling exchange steady,
with actual business in bankers bills at s4sl3Sg
4s7 40 for demand and 81. s5d4 $50 for sixty
day bills. Posted rates, s4s5z and Sass Com
mercial bills, S4S4AQ4.S4%.
The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1904-04-17
Trensury Statement.

NEUTRALITY-SUSPICIOUS. statement OF the
treasury balances in the general fund exclusive
90 the $780, 0o0, 900 gold reserve In the division
of redemption. shows:
Available cash balance. sal es7, 779
The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1904-04-17
Meyer & Kiser.l

NEW YORK, April 16-There were no impor-
tant features TO the market to-day. The mar
ket opened quiet and steady and remained so
until the bank statement which, as generally
expected. was favorable. Upon it's publica ton
there was some realizing by small interests
The only feature in the market was the advance
in Consolidated Gas. Somebody evidently thinks
that the mayor will sign the bill. His decision
will come either Monday Tuesday. The mar
ket is a waiting one. and probably we will have
but fractional changes until the decision at St
Paul. Early in the day il stated the Penn
sylvania people had stopped all improvements on
the line. owing to increased operating expenses
This empha tically denied later. The atti-
tude of the market is distinctly a waiting one
the good effect of the excellent bank statement
and the favorable foreign situation being
apparently offset by the fresh borrowing for rail.
roads. The indications now are for continued
low rates. but this is likely 70 bring about
increased activity unless IL stimulates the long
hoped-for demand for investment securities II
Improvement until there is a greater proba bjIitv
OF a cessation of the Issue of new obligations
AS for to-day's market il was extremeiy SnIi
but had a firm undertone until shortly after the
publication of the bank statement.
[Porterheld & Col
NEW YORK. April 1.-THE opening was dull
and featureless; some higher. others fractionaHy
below previous close. No trade to speak of until
after the publication Of the bank statement. ex
cept in Consolidated Gas. which took sudden
bulge Of several points a rush TO cover by the
short interest Outside OF this furry nothing
else worth chronicling occurred till 1880 when
fairly good statement reported Imma
diately IL known liquidation by people who
wanted TO go home over Sunday with clean hands
took place and the entire list declined until tba
close. Final quotations were the lowest OF the
day. Market still continues professional and
will be so for some time to come. Cannot advise
purchases just yet. Wait for a further break
which is bound TO come.
IA. r. Thompson & Col
NEW YORK. April 16-The market TO-DAY
devoid of feature. outside OF the profess
sional manipulation Of Consolidated Gas on un-
founded rumors that Mayor Mcclellan would
take favorable action the Ransom bill The
bank statement was better than expected b,,t
IL was noted that considerable realizing deveI-
oped after the statement out Consider
able selling pressure developed in the last hour
and the market closed heavy and weak at the
low level.
The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1904-04-17
TRADE IN GENERAL
THE MONEY MARKET.

MILWAUKEE. April 1s.-Barley steady; No. ?
&c: sample. 4Od62c-
The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1904-04-17
CENTRAL INDIANA RAILWAY.
INDIANA UNION TRACTION COMPANY.

VS. PA PAR m q. =. Pm p. A. H.
Anderson
The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1904-04-17

Americans opened steady and improved general
~ Business moderate and the close quiet
Foreigners were erratic. continentals dropping.
The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1904-04-17
BROKERS VIEWS ON
THE STOCK MARKET

NEW YORK. April 16.-About the only devel-
opment of Importance to-day the sensational
advance on Consolidated Gas on reports that
the mayor would sign the Remsen bill. When
the bill was passed by the Legislature last week
there was a well-distributed tip that the mayor
would oppose il and would not allow the bill
TO become law, and in consequence the price
of the stock was damned down 6 points
Now IL comes the mayor will sign. London
cables n tri]e better and traders made a
feeble attempt at covering movement. The
Fries were firm. The extent Of the Hartman
interest in the holdings of stocks makes the
EIies' position important Should Union Pacific
decide on the Erie as the Eastern outlet, ii would
largely increase its. earnings and stocks would
sell very high. The closing quiet and un-
interesting.
The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1904-04-17
Rates on Loans and Exchange-Clear-
ings and Discounts.
indianapolis CIearings.

INDIANAPOLIS.-Comm paper, 9 per
cent; time loans. 5lz46 per cent
The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1904-04-17
Indianapolis Union Station.
|GnnSuIVdnid lines
rains Run by Central Time

TICKET OFFICES &C Station and corner minol, ana
Washington Streets.