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Newspaper
The Indianapolis Journal
Location
Indianapolis, Indiana, United States of America
Date
Jan 16, 1902
Page
10
The report highlights the state offering the largest and strongest vaults with top security and the most complete arrangements. It notes special accommodations for women in bank facilities and services.
New York stock market reversed its downward trend with a modest rally led by support for Union Pacific and other rails. Bulls benefited from a strong showing in Sugar after Washington hearings on Cuban sugar duties and a dividend raise at New York Central. Bank gains from the treasury and favorable trade figures joined the cautious advance, while People's Gas drop and bond activity reflected ongoing volatility. total par value sales reached 3,235,000 with mixed price changes.
The list shows Columbia National Bank and Indiara National Bank alongside Indian Trust Camps and Merchants' National Union Trust. It includes Indianapel street railway items, Belt Railway common and pref shares, Chicago Stocks, American Can, National Biscuit and Diamond Match. Monetary section appears amid bond descriptions and railway notes.
Indianapolis reports commercial paper at 61 percent, time loans 5 to 6 percent, clearings $1,490,142.80 and balances $137,523.26. New York call money 4 to 5 percent, prime mercantile paper 4.5 percent, sterling exchange rates, and clearings $259,557,108 with balances $1,297,996. Chicago posted exchange 4.8 for six months, clearings $29,923,785 and balances $2,797,501. Boston clearings $25,245,900 with $1,598,956 balances. Philadelphia money 5 percent, clearings $20,870,055 and balances $2,736,716. St. Louis money 4 to 4.6 percent, New York exchange at premium, clearings $8,280,082 and balances $1,097,976. Baltimore money 4 percent, clearings $3,841,298 and balances $559,146. Cincinnati money 6 to 6- percent, New York exchange at par with premium, clearings $5,624,650. London money 14 92 percent, discounts 3 15-16 to 4 1-16. Berlin London exchange 20m 4 14pfe checks. Paris three percent rentes 10f50c. New York silver 5 54c, Mexican dollars 4 44c. London silver bars 25 1/2 on ounce. Treasury statement shows available cash balance $169,617,296 and gold in reserve $106,583,477.
New York trading showed oversold conditions reversing as shorts covered, with strong buying of New York Central tied to a proposed 5 million dollar capital increase and potential Vanderbilt system consolidation. Dividend news lifted Vanderbilt shares while People's Gas faced pressure after a judge allowed price controls, denting the stock. The session ended near the day’s best prices as buying momentum returned.
Instruments filed for record in Marion County Indiana cover transfers for 24 hours to Jan 15. Notable entries include Edgar A. Brown to Geo Brown Lots 1-6 Downey’s Second East, value 2,000. Louis C. Wehling to Wm. Bade 1-7 interest in Lot 1 Merrill’s sub Outlot 1 and more. Total transfers 24, value 5,965,928.27 with miscellaneous notes and partial properties listed. Transfers involve numerous parcels across West and South streets, Highland and East avenues, and surrounding townships with multiple buyers including Mary Renihan, Elizabeth Bader, and others. Real estate transfers include blocks, lots, sub-divisions, and outlots with various single and shared interests.
Chicago traders push grain prices lower after a firm start with May wheat down ½ cent and corn down ½ to ¾ cent. Oats fall ¾ cent as provisions weaken amid heavy margin calls and liquidation. Cash markets show mixed signals and receipts tally varied across cities, with Prime notes and futures quotes reflecting a broad grain market slump.
Wheat receipts rise to 96,900 bushels as markets end weak on heavier wheat and liquidations. Corn and oats follow with declines. spot prices for No 2 red and No 2 corn weaken. Weaker tone across grains, while beef and lard hold steady amid subdued demand and flat sugar and oil trends.
New York reports improved dry goods demand with more buyers, steady prices for staple and fancy cottons, print cloths and woolens in demand, dress goods dull. New Orleans notes steady cotton with varied bale prices. Spot cotton closes steady in New York with middling gulf recorded. St Louis markets show dull wool and steady metals with slight lead and spelter activity.
At Wellsville Ohio on January 15 a grand jury indictment targets D 8 Brookman manager of the Wellsville plant of the American Sheet Steel Company for discharging Leonard Shaffer a mill worker who had joined the Amalgamated Association during a summer strike Shaffer later refused to surrender his union card and was fired The Amalgamated Association will contest the charge with Judge P M Smith defending Brookman
Market report from St Louis dated January 14 notes dull and weaker demand for red winter patents and other grains. Prices for wheat corn oats and rye fluctuate with May and July futures. pork and dry salted meats move lower. boxed bacon and hay steady with limited detail due to incomplete data.
Mr Shaw is a money lender but wealth does not guarantee money knowledge. A man may know a good note, keep books, and hold a large reserve yet lack understanding of money’s science. Financiers rely on larger lenders and never escape a chain of dependence. Knowledge comes from grasping underlying principles, not wealth.
Opinion piece from the St Paul Pioneer Press ridicules anti imperialist rhetoric by noting a Methodist minister praises Manila as highly moral and well governed. The writer mocks armchair experts who claim expertise without firsthand experience.
Cattle receipts down vs last week with near steady to lower prices as buyers balk at large supplies. Hogs rise modestly with strong late demand and bidding. Sheep and lambs steady to higher as pens thin and buyers active. Horses show continued increase in marketing with varied prices for draft and harness stock.
At the Interstate Yards in Indianapolis on January 15, cattle receipts and shipments were nil. The market was considered lower than yesterday on all grades with no other changes noted.
A stream of permits lists Joseph T. Elliott as builder for frame structures along Langstale Castle and West Marsian streets. Items include a frame cottage near Blufftoed, a frame house on 5 Wylie and a remodeling project at 17 North Capitol Avenue. Totaling bids around 406 dollars.
The Springfield Republican notes Mr Bryan draws large audiences despite handicap claims. Three events at New Haven Holyoke and University drew sizable crowds, with about 50 people reported overall. The Commoner is mentioned in passing regarding the era of prosperity.
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