The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1894-01-08
SOME IMPROVEMENT
Stocks Show the Effect of Better
Conditions Generally.
Wall Streets Pulses Growing More
Rapid and Heavy indianapolis
Grain Business Sluggish.

Bar silver closed at $3.50 per ounce; at
London. 31&d.
The New York weekly bank statement
shows the following changes:
Reserve, S2,9S1 $50
Loans. 1900. 700
Specie, 4,1o7, 900
Legal tenders. ncrease.......-... 1.246, 200
Deposits. OBSERVATION-DISCLOSURES. I2,OS6,S0
Circulation, $500
The banks now hold $50, s75, 651 in excess
of the requirements Of the % per cent.
rule.
Total sales of stocks amounted to s16O,60 o
shares on New York Exchange.
A week which opened with depression has
closed with a ~buoyancy to which the Stock
Exchange has been long a stranger. From
the opening of business Saturday morning
to the close the speculation was charac-
terized by strength and activity, and except
in a few unimportant instances prices
moved steadily upward, the market closing
strong at or near the best figures of the
day, the advance on Friday nights closing
sales ranging from Il TO D per cent. The
factors in the appreciation in values were
a better market for American securities in
the foreign account and the covering of
short contracts. In the early dealings Sugar
was weak on the failure of Fridays Demo-
cratic caucus TO take definite action on the
sugar schedule, but insiders began to buy
on the evidence that was offered by the dis
cussion in the caucus that a change would
be made in the tariff on sugar in the VIII
son bill and for the better. and there was
a heavy run on the shares of the COM
pany with the result Of establishing
an advance of 3Ss per cent. in
the common and 3 per cent. in the
preferred. The granger stocks were in good
demand on reports that the period of de-
creasing earnings was passing away, and
that better showing would henceforth be
made. st. Paul was most actively traded in,
recording an advance of z per cent A
boom was manufactured for Chicago Gas
apropos of the payment of the 1s per cent.
dividend, by the circulation of a statement
that a complete report was about 10 be
issued by the company giving a full eX-
PLANTATION OF its affairs. which 1t is claimed
will place the company in a favorable light
TO investors. There was good buying in the
shares. and an advance of 3% per cent. was
recorded. the last being the best price OF
the day. The other industrial stocks We're
held. General Electric sold up 2ls per cent.
on the economic move of the company in
consolidating its business In Schenectady,
with the promised result of making a saving
in expense account of a half million dollars
yearly. A reaction of &c and a rally of Ac
occurred In the late dealings.
In the general list, the Improvement at the
close in the leading shares was: Delaware,
Lackawanna & Western, 5; Louisville, New
ga; Louisville & Nashville. rs; Lake Erie
& Western preferred, 2; Pacific Mail, rs;
Southern and Lead preferred, 1$4;
Missouri Pacific. Illinois Central. Manhat-
tern ana Hnio iowa Is; c faRe shRG 5eter re. anu d& south Mes-
ern Pacific, Northern Pacific preferred and
Sist c. E 8; St deeIiSed | per Sent result United ed
the speculation for the week IS a generally
higher range of values, the Improvement
dealings. the chief advance being So in
Delaware, Lackawann * Western: 54,
Delaware & Hudson; 3. New Jersey Cen
trail; 31z, Western Union; 32s, Evansville &
Terre Haute; Z, Louisville & New Albany;
Pullman. 61k; Lake Erie, * Western pre-
ferred, 5; Wheeling & Lake Erie preferred,
2iz; Pittsburg, c., G.. & st. Louis. New
York. Chicago & St. Louis preferred. 2 per
cent. In the list of declines are Northwest
preferred, IA; Central Pacific, Chicago &
Eastern Illinois preferred and st. Paul &
Duluth, 3; Rubber, 21a.
The bond market was active and strong
all day. the leading changes being: Adj
vances-Cy c., 9. g. St. Louis (St. Louis
dfvision) tours. General Electric debenture
flrsts, 2 each. Government bonds were
steady. State bonds had nothing doing.
The following table. prepared by James E
Berry, Room 16. Board OF Trade. shows tina
range OF quotations: