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Newspaper
The Indianapolis Journal
Location
Indianapolis, Indiana, United States of America
Date
Jan 26, 1902
Page
3
An almost pure copper ore vein dubbed copper glance was discovered near Grand En Campment. Assays show $217.0 per ton for the best ore and $20.59 to $83.36 per ton for lower grades. Miner Hugh Fingerly reportedly broke open a rock after a stubbed toe, revealing the gemlike rock.
Speculation lies dormant while money markets attract interest, as New York banks report increased reserves and loan growth. The week shows mixed stock activity with declines in sugar and rail stocks offset by gains in Rutland, St. Lawrence, Peoria and Lead. International money flows revive Berlin and Paris reserves, with London resuming moderate stock sales amid easier credit conditions.
The port of New York recorded imports of dry goods and merchandise worth 33232 dollars for the week ended Saturday. Exports of specie totaled 1186429 dollars in silver and 628104 dollars in gold. Imports of specie amounted to 11574 dollars in gold and 7757 dollars in silver.
The treasury shows available cash balance 173,911,872 with gold reserve 92,484,077. The New York weekly bank statement reports increases in loans deposits and reserves, a drop in circulation, and a surplus rise to 95,332,400. Banks hold 25,332,400 in excess reserve. total cash movements indicate modest borrowing and improved money conditions.
In a stagnant New York market session most business was between traders amid a steady undertone. Sugar rose on a large purchase by a leading house, Metropolitan faced renewed liquidation, and Amalgamated Copper fell contrary to expectations. Copper stocks abroad hint at possible future harmony, yet current sales at low figures persist. Bank surplus reserve stood around 25.3 million with cash gains near 9.9 million, but the market closed heavy near day’s lows.
New York January 25 Amalgamated Copper led slight gains while overall market fell with declines in rails and coalers Sugar recovered but copper and steels eroded Readings and Eries were heavily sold Western rails faced professional selling Heavy snow in the West and Southwest reduced winter wheat damage reports yet buying orders in Western rails were scarce After the bank statement selling pressure intensified and sentiment turned bearish with forecasts of lower values Monday Granger Farwell Co reports a good bank statement but little market news Northern Securities care decision seen as the only likely trigger for movement
In Chicago trading a sharp decline in corn and a wider slump in wheat drove a heavy market selloff. May wheat closed down 4 cents at 7 dollars 4 cents, with oaths and corn plunging amid liquidation by bulls. Provisions held steady as receipts rose and Liverpool rally faded.
Short clear sides Eneve Wheey basis of high wines 1.22 Receiote-Pinks 3 00 bris Rs 100 bu corn 53 000 bu oats 172 000 bu rye 3.10 bey barley 61.08 bu Shipments Flour 13 000 Bris Wheat 72 000 bu corn 74 00 bu oats 135 00 ba rye 10 000 bu barley 9 00 bu
New York market report shows flour receipts 14 678 bushels export 19 253 bushels with winter patents at 3 75 to 4, winter straights 5 00 to 5 7, rye and corn meals quoted, oats and barley steady. Wheat futures closed weak after snow in winter wheat states. corn declines amid large offerings, spot prices for No 2 and other grades noted, soy and fats steady. hogs, beef, lard, and pork prices listed. sugars and coffee mixed. petroleum and rosin steady. London wool sales strong. metals and poultry markets caged, with varied regional quotes.
In St Louis prices for flour and wheats show declines while other grains hold mixed. No. 2 red and hard wheats ease on cash and futures as corn and oats move lower. pork, lard, and bacon markets show small shifts. Receipts include 24,000 bushels of wheat and 86,000 bushels of oats with shipments of 7,000 bushels of wheat and 79,000 of corn.
Hutter receipts 4 514 packages in New York with strong market. cheese receipts 1 76 packages and firm demand for full cream varieties. Philadelphia reports firmer butter and rising eggs with Western and near-by quotes. Baltimore notes firm butter and cheese. mixed regional prices for creamery and full cream cheeses.
New York reports steady prices in dry goods with no new features. Cotton yarns demand quiet but prices steady. worsted and linen yarns firm. New Orleans lists bale counts and staple grades for cotton, with stock at 341,65 bales and figures for ordinary to middling fair.
An English naturalist argues birds convey complex sounds and meanings. He cites turkeys and chickens with distinct calls for danger, nesting, mate calling, and battle, noting roosters chatter during duels and parrots say greetings. He praises avian intelligence and cites crow scent abilities and expressions of pleasure.
Critics clash on peacetime coin art as St George and dragon on pew coinage draws praise and sharp critique. Luke Fildes SA suggests restraint while noting potential tweaks to horse head and costume for a more fitting dragon slayer image.
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