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Newspaper
The Indianapolis Journal
Location
Indianapolis, Indiana, United States of America
Date
May 26, 1902
Page
6
Union Stock Yards Indianapolis reports light cattle receipts with a busy week. Prices for strictly choice steers hold high while fat stock and greens decline. Hog receipts rise with mixed results, peaking at 7.40 for top hogs and easing later. sheep demand weak with small shipments.
Transactions at Interstate Stockyards Indiana report light cattle receipts and limited hogs. Prices slipped slightly on better cattle while hogs weakened about ten cents weekly. demand remained strong for good butcher stock despite low Eastern prices. Kansas City and Chicago bids show steady to firmer trends with mixed results across cattle, hogs, and sheep.
New York shares traded quietly as Canadian Pacific rose to record 138½ amid general firmness. Market sentiment improved with easier money rates and stronger railroad earnings, while South Africa peace hopes and coal strike outcomes loom. European funds and copper demand supported gains, and bonds held steady despite modest declines in U S issue prices.
Indianapolis street railway bonds, four percent, tied to local traction interests. Bid and ace details indicate market activity in BS Indpls Street-ry securities with four percent coupon notes.
The New York associated banks report a $4,552.20 rise in cash, $8,546,600 drop in loans for the two weeks, and a $1,102,725 reserve reduction. Deposits fell $4,410.90, with surplus reserve rising to $14,301,450 while week-to-week clearings declined $142,000.
Private wire advices report a steady but brisk market. Liquidation is light and London houses held firm, awaiting further South Africa news before adjusting commitments. Foreign interests stay cautious despite overall strength.
A report on New York clearing-house banks shows loans deposits and reserves, listing major banks such as Bank of New York Mercantile National and National City with figures. The monetary section notes a sharp advance in Canadian Pacific tied to favorable bank conditions, potential dividend hikes, and prospects of easy money if South Africa peace negotiations succeed.
Indianapolis and New York lead the daily money market report with varied clearings and balances. Other cities including Chicago Boston Philadelphia St Louis Baltimore Cincinnati show steady to mixed money rates while London Paris and Berlin report currency and bond notes with small shifts in exchange and discount rates.
Washington reports Saturday treasury balances excluding the $150 million reserve in redemption. Available cash balance stands at 188,459,079 dollars and gold at 90,557,261 dollars.
New York May 4 The weekly statement of associated banks shows decreases in loans deposits and circulation. Nonspecific figures indicate increases in legal tenders specie and reserves with a larger surplus over reserve requirements under the 3 percent rule. The Financier notes the bank system remains in stronger liquidity.
The circuit and criminal courts hear verdicts, judgments, and new suits. Alma Wheeler against Gordon estate awarded $10 and costs. bastardy case against Ernest Melicks dismissed with costs. Wood vs Wood divorce postponed for argument. Hinkle divorce decree awarded with costs. Kessler et al. win quiet title and deed reform. Stage vs Mickley assault case not guilty on appeal. Russell nuisance case guilty with $10 fine and costs. New suits filed include Gentry vs Crabtree for $2,000 damages and divorces Dougherty and Burgess listed across courts.
The record cites appellate briefs filed in multiple cases including Howard F Chappell et al vs Jas County Gas and Oil Company and John S Terhune vs Catharine Shinn along with Milwaukee Fire Insurance Company vs L Todd and James Warner vs Sarah Warner Adams C C The Diamond Flint Glass Company versus Byron M Boyd involve motions to strike out and related proceedings in Blackford and Adams counties.
The Omaha Bee notes the Congressional Record printed a speech by a member who has died. It says such posthumous remarks are common in the Record, noting many speeches there are by deceased individuals.
Chicago May grain trades pivot on last year's crop figures with a bearish initial reaction. July wheat edges higher on export demand while corn and oats rise modestly as traders digest revised USDA estimates and seek signals from shipments and receipts across Minneapolis, Duluth, and Seaboard.
In New York May trading, wheat futures fell on bearish crop data and favorable weather, later rebounding but ending with a net drop. Spot wheats stayed steady, corn and oats moved with market shifts, while flour and rye prices showed varied dullness and steadiness across the trade, with regional bullion and leather markets also noted.
A fragmented market update lists varied commodities with prices and grades including tallow pork rice molasses coffee sugar raw and refined, noting steadiness and qualities across several items. Names and figures appear in terse OCR form, reflecting a raw price ledger summary.
Transcribed market notes from St Louis to Milwaukee listing mixed commodity quotes. Wheat prices firm cash and futures. pork lard meats and various pork products show firmness, with hay timothy and prairie prices noted. London Liverpool and Baltimore prices appear for grains flour and beef, with oats corn and rye values included. overall tone hints at a broad, fluctuating trading day across multiple northern markets.
In New York the dry goods market closed quietly with poor demand for most domestics and little price movement across fabrics like Senprintiogn cottons and cheviots. American cotton and wool yarns held near previous levels amid irregular trade. In New Orleans on May 2, cotton sales reached 1,733 bales with receipts at 15 bales and stock at 147,438 bales, showing steady activity but limited growth.
Chilean minister Vergara and Argentinian official Jose Antonio Terry signed details of a weapons agreement easing disputes between the two nations. The accord covers armament limits and potential bond arrangements amid tense regional relations.
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