The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1904-02-10
bid or ask quotations.
General Financial News.

The French for number OF months have been
good buyers of American bonds though the
French arc noted for investing in their home
securities. The largest exception they have
made has been in taking Russian bonds Am
ste-dam has also been purchaser of Russian
securities. 1t is possible If the war continues
there may be considerable diversion of invest
ment from these centers. Germany has been a
good buyer Of American bonds. and London be-
gan several months ago to purchase freely good
American securities.
''It has been a long time since so large an
amount of United States bonds were available
for profitable circulation at this time" saws
the Wall-street Journal, land it is in every way
desirable that banks having facilities for placing
their notes should avail themselves of this on
tary shaw has ever since he entered once baen
constantly striving with conspicuous success 70
have this among other tbins notes ana he may
drawing the money from the banks to meet the
Panama, canal payments.
Harris, Gates & Co. have issued notices az
changes to take place in the firm March John
Dupree, John F. Harris and Samuel c. Scotten
withdraw from Harris Gates & Co and estah
lsh a house of their own. The business of Har-
ris, Gates d Co. will continue under the name
of Charles .. Gates * Co.
d. j. Suly announces that ne was not going
South after all. He says there are too many
shorts in cotton. who sold on his prospective
stay in New York to look after them. 10
Discussing possible methods of making the
Panama canal payments, which would be of
least disturbance the money market the
Wall-street Journal says:
The manner in which the payment OF the
| dcatiOn of the way in which the Panama pay
ments are to be made out Of the United States
/ in hal Wi he lpaS IL
| turbancc 10 the money market. The Philippine
bonds were delivered to the representatives. Of
/ upon the payments OF the price. and the money
| yided between the two repositories OF the Phil
/ ippine government that IL was not ont ~
| The market for more than a moment II is -
Il fact well known 10 treasury officials from the
lPetieaIv all Of the Tinted stats Sa,oss. G IN n
/ hanks have been sent by interior banks To the
/ central reserve cities. because there is no en-
ploym@nt for them at home, while they may earn
/ the return OF part OF the United States deposits
would be met by drafts to order Of the treas
| ents al St Louis. Chicago, New York with
whom the United States funds had been depos-
TO the other cities, for reasons that are Obvious
in connection with the Panama payments Now
II the call for the OF certain percentar &c
! OF the United states deposits TO the treasury
| should be made at the same time That war
| meut Of what may be due to the Panama Canal
Company. i: is obvious that the drafts issued by
| ents would constitute a part OF the subtreas-
| urv's credit items at the clearing house and the
| draft upon the subtreasury in favor of the fiscal
| agent OF the Panama Canal Company would be
! a debit item. This debit item would offset
| the aggregate OF a grea. many checks from in
| terror banks. The net results would be de-
| crease in United States deposits at New York
| and elsewhere. decrease in deposits OF other
| national banks in New York banks. and an in.
| crease in individual deposits equal TO the sum
of the decreases in United States deposits and
| IN deposits of other national banks in the New
| York banks If IL could be so arranged that m.
| payments by the banks in returning deposits e
\ the trea sury. and the payment by the treasury
OF the warrant in favor Of the Panama Cana
J Company could be made upon the same day ane
the only evidence OF the transaction would be ar
| increase In the exchanges at the clearing house
The suhtreasury balance would not be affected
at ALL"