The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1895-11-25
MINING SHARES.
Doubleday. Rope & Co. OF Colorado
Springs. Col, give the following quotations:
WEEKLY REVIEW.

- hE<LhLI hEflEN-
The stock market" says Henry Clews,
in his review of operations in Wall street
last week. has been in an unsettled and
unsatisfactory condition. It showed an al
together exceptional lack Of responsiveness
10 either favorable or unfavorable condi-
tons. Even the trunk line agreement and
Secretary Carlisle's strong sound-money
speech at the Chamber OF Commerce dinner
fell fiat. Under ordinary circumstances
these events would have strengthened con-
fdence and quickly reflected themselves
upon the Stock Exchange. On the other
hand, unfavorable developments had very
little effect. Gold exports, foreign liquida-
ton and Attorney-general HancOck's de-
adverse factors, but their influence upon
prices In each instance was much less than
anticipated. This inertia can only be ex-
planned BIZ the unfavorable conditions hav-
ing been very fully discounted in the late
decline; yet while these adverse condi-
tons remain. Or until their abatement is
clearly in sight, the market leaders are not
likely TO shut off the supply OF cheap
stocks which weak or timid holders con-
tinue to offer. Ii is very certain that stocks
have been going into strong hands during
the last Few weeks and are now con-
to a higher level when circumstance and
disposition combine to favor. This week
the market has lacked buying power. Lon
ties. not alone because of political disturb
ances and distrust of our finances. but
largely because OF forced liquidation. A
by heroic methods. but liquidation, though
slower and less severe, must be faced new
ertheless; and in such emergencies the bet
Ter Glass, OF securities are always sacri-
feed to help the weaker, simply because
their sale involves the smaller loss. The
renewal of gold shipments from here to
almost invariably i'm the opposite direction.
IS also a very natural obstacle to a
rising market, Indeed the wonder is that
values have been so we'll sustained in a
market entirely free from any support
whatever. pistrust on this account is likely
to remain. and will increase, unless steps
embarrassing consequences 1t does not
yet appear whether help will come from
a bond issue or from restoration of for
mer relations between the banks and the
treasury, whereby the latter was assured
OF a gold income. A bond issue IL already
a foregone conclusion, and its occurrence
cles. Possibly it may do good in a mega
tive fashion by emphasizing the urgency OF
currency reform.
Meantime, railroad earnings continue to
make encouraging gains, especially In the
West and Northwest. where the heavy grain
movement is stimulating both traffic ana
general business In the Southwest the
deficiencies in earnings. but as cotton must
soon go forward better results may be an
ticipated in due season It follows also
NAAaL &C " as" aA4 IN " ~
Europe with more freedom. as they inevita-
bly, must. the exchange market will meet
with that much relief. The business situa-
ton is satisfactory. There Is less activity
than a few weeks ago. which Is to be en-
pected in the closing months OF the year.
In several staple markets where prices or
production had been advanced too rapidly
there Is a Teactionary tendency, which In
the end will encourage fresh buying and
give confidence in the future a more sub
staniial basis. In a few days Congress will
open, but the session promises to be less
disturbing than its predecessors. In all
probability currency reform will be the
leading issue. The outlook for 1896 is as
bright and hopeful as could be hoped for
within reason. or the immediate future
there Is some doubt. Values are low and
many stocks are selling al attractive
prices: but until the financial atmosphere
grows clearer we advise buying only on the
declines and taking profits on fair rallies"
Saturdays Bank Cicarings.
Chicago-Clearings. s14.O2s.o 900. Money firm
time. New York exchange sold at 4Oc
premium Sterling posted rates: On de-
mand, 40; on sixty days, sass.
At New York-Clearings. 81, 5S9,279; bal
ancss, s .697. ssl. -
At Boston-Clearings. $3.50 .s3s; balances.
q, 961, 10f.
At MISUNDERSTANDING. $2,24s. $40: bal
ances, $237, 49,.
At PhiiadsIRhia-clearinEs. sis.ols,ssl bal
At st; Louis-clearings, s2.571.15s; bal
At Cinclnnati-Money 41*@s per cent.
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