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This newspaper page contains 16 articles. Subscribers can read the full text of each article.
Newspaper
The Indianapolis Journal
Location
Indianapolis, Indiana, United States of America
Date
Mar 16, 1902
Page
16
The March New York stock scene showed little trading interest amid a tense money market. After the bank statement suggested a tight surplus, prices recovered slightly but demand remained weak and many stocks were under pressure. Banks and railroads led activity while obscure issues spurred rapid but unstable moves, with traders hopeful after loan shifts and government bond redemptions.
Indianapolis reports commercial paper at 4 to 6 percent with clearings of 1 384 291.96 and balances 111 811.52. New York call money firmer at 3 percent, sterling and bankers bills quoted with actual business at 4.87 to 4.55. Chicago posted 4.86 sixty days, 1.58 on demand. Boston, Philadelphia, St. Louis, Baltimore, Cincinnati given various money and clearings figures. London and Paris currency markets show mixed rates, with London noon silver at 58 1/8, Paris rentes at 3 percent, and Berlin exchange noted.
Exports of specie from this port to all countries for the week totaled 763,084 dollars in silver and 47,026 dollars in gold. Imports of specie comprised 270,008 dollars in gold and 1,778 dollars in silver. Dry goods and merchandise imported at the port of New York for the week valued 11,941,659 dollars.
Washington report outlines Saturday's treasury balances excluding the $15,000,000 gold reserve. It notes available cash balances and references the division of telecommunication in the context of the overall financial statement.
The New York Associated Banks report a week end decrease in loans and deposits, plus a large drop in reserve and surplus while circulation and specie fall. The Financier notes cash losses about 3.2 million, driven by treasury operations, gold exports, and bond payments, with loans down about 14.3 million amid reduced demand on the Stock Exchange. StandardOil and related dividends are mentioned.
The statement harmonizes losses from loans and cash with a 35.3 percent reserve reduction. cash gains on rising averages offset the decline, leaving reserves at 3,112,900 from 10,000,600 year earlier. Banks may curb lending until reserves improve, while trust companies likely meet prudent needs as business activity shows a $52,000 rise in weekly bank clearings.
New York report notes banks lost cash during the week but loans fell sharply as funds moved to trust companies. Deposits slipped and surplus narrowed, yet market closed strong with Manhattan active and Missouri Pacific rising on crop news and Rock Island investment hopes.
New York March 15 The bank statement surprise lent strength to the market at closing as investors took profits in quarters bought on hopes the report would be worse. The tone remains professional and activity likely to continue on special issues into the next week.
Chicago notes a mixed day with wheat higher amid late liquidation and cooler weather forecasts. May wheat up, corn up modestly, oats firm, provisions little changed while receipts and shipments show active trade. analysts cite cold wave forecasts and ongoing crop damage reports from Kansas as factors buoying prices.
In New York on March 15 grain markets edged up slightly while hides remained steady. Flour receipts totaled 16 400 barrels with exports of 1.1 barrels, winter patent mix around 8.60 to 8.30, winter straights 3.50 to 3.60, Minnesota patent 4.55 to 4.10, and rye flour dull yet fair to good at 3.23 to 4.00. No. 2 Western rye at 0.60 f. o. b. origin.
The report outlines wheat, corn, oats, and surrounding commodities with receipts exports and spot values. It notes mixed movements as markets rally then steady, with prices across wheat corn and oats closing modestly higher or steady, and various dairy, meat, and sugar futures listed in steady ranges.
A broad, steady to firm report of grain prices and futures with notes from St. Louis, Liverpool, Louisville, Baltimore, Kansas City, Cincinnati, Toledo and New York. Details cover flour, wheat, corn, oats, rye, barley, bran, and oils. pork, bacon, lard, butter, cheese, and whisky. with receipts and shipments figures and regional price shifts.
Regional market notes report butter firmness in Philadelphia and New York, with cream and fancy varieties priced. Wool sales in London show strong demand for crossbreds while merinos and scoureds gain favor. New South Wales and Victoria volumes listed. Shipping, metals and petroleum rates noted in New York and St Louis markets, with poultry prices steady in Louisville and Cincinnati, and grain byproducts in Charleston and Savannah.
New York reports general conditions remain steady with no major shifts in markets. Cotton yarns and stock levels hold, while prices for pane to be made show an uptick. Worsted and woolen yarns are noted in similar positions with cautious demand.
A list of individuals receiving certificates is shown with multiple names and amounts such as Henry C Richmond eight dollars Gus Sarre Feta augbee Marat beibe, Silas Kenyon Hobart twelve dollars Clinton J Marion Eliphies Pierceton William A Matthews Nations Military Home Marinn twelve dollars Anthony Smith Pierceton eight dollars Hiram Farmland thirty three William L Webber Madison John W Musselman Aries five Wat Howard Crawfordsville Martha E Ort Peru Mary Cleary Austin three Annie D Page Evansville six widow Elizabeth Heath sou.
In a Chicago Post excerpt, a bachelor muses that succession cannot skip a family. He notes the scepter shifts from one head to the next, unobtrusively moving to the husband, then to the child, with the baby eventually receiving it.
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