The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1904-01-29
Local Financial Gossip;
Bankers and Brokers Talk

Columbia National Bank stock advanced s1z
points on the bid price on the Stock Exchange
yesterday. to us. No sale made that
figure. The stock offered at 125. This is
the first ask price quoted on this stock for some
time. 1t is not known whether this price is for
a small block or as much as 100 shares The
bid of rs yesterday was by a Washington
street house which has been bidding for the
issue is held pretty closely and that there is
little Of 1t the market Columbia National
went on dividend basis the first Of this year.
Two municipal bond issues will be for sale by
the city of indianapolis next month-Sl5O.OOO of
School Board and $4,000 bridge bonds. Both the
issues will bear Sl2 per cent interest. payable
semi-annuany. The bridge bonds. adver-
tised by the controller, viii run twenty years,
and the school Board bonds about thirty-nve
years. The latter issue Will be sold in three lots
of 500 600 each. An official of the school Board
announced yesterday that the board has been
informed by several local houses that they will
bid for the issue or part of it, The bids will
part of the $500 issue authorized last fall.
only $4,000 of which sold at that time.
The bids will be opened Feb. 10
II is the somewhat general opinion in fnan-
cal and banking circles that the secretary of
the treasury will call upon the national banks
for small per cent. of their government de-
posits with which to help make the Panama
by all the national banks amount to about
sl73. OO0, 900. The seven national banks of In
dianapolis hold government deposits to the ex-
tent of S. "A 262 1t is not likely according to
the opinion of a number of the local bankers.
that the secretary of the treasury will ask the
national banks for large per cent. of their
government deposits to apply on the Panama
canal payment.
Meyer & Kiser (from Bartlett, Frazier & Co.'S
Wall-street house)-The Panama canal treaty
will be put through with a rush and the
financing of the $50, 900, 900 will little trou
BILE. The plan whereby it is to be financed is
already mapped out. but details must be with
held temporarily. So far the money situation
is concerned there is every indication that loans
because of corporate borrowing. The inflow of
funds from the interior will continue for snort
wholly the Increase In loans AS a consequence
call rates are likely to harden slightly during
the next two or three weeks. Fairly easy rates,
boom in the stock market which was predicted
at the beginning Of the year has almost reached
It's zenith and irreguarity and spasmodic ad-
vances are likely to be in order for little
time to come. After that the market will prob
ably sag, and we do not look for any extraor
dinariy bullish market at any time during the
year The government will withdraw deposits
A. w. Thomson Cfrom Logan & Bryan's Wall
street house)-It is now generally recognized
that the effort to revive an active outside de-
mand has practically failed and almost every
body Is suspicious of genuileness of strength and
is cautious Until the Eastern question which
for narrow, professional market.
+
In connection with the stock market the fol-
lowing statement was made by a New York
banker in close touch with the situation: The
banks are expected to make a further gain in
cash through the continued flow of money from
the interior, and, according to gossip loans are
likely to show a further heavy increase on cor