The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1895-04-22


Springs. Col. give the following quotations
on mining stocks:
Anaconda ACKNOWLEDGEMENTS. 80
Argentum .llUla
NOME GlDson.. ..lU6az
saneaa lo,2
Portland tula
WEEKLY REVIEW.
Henry CLOVIS. OF New York. in his review
of operations In Wall street last week, says:
After lull of two weeks following the
late advance In prices, Wall street has re-
ceiyed new upward impulse; The revival
during. the last half of March was real
ket. The rest that followed IL was equally
so: and the outcome OF that
has has sh sssn nc equally
haustion OF either the investment or specu-
profits realized upon the rise. and none to
force downward reaction in order to make
lower basis for new upward movement.
There seems to have been lack of conf
dence In the success Of any attempt to mark
down values; even the bears have shown
no faith in. such policy, and holders have
that they are still undervalued and suscep-
tible of further advance.
Under these conditions, all that was need
ca 70 a fresh upward squirt was some new
conspicuous stimulus to the already existing
the form of sudden and remarkable rise
IN the price of cotton, petroleum. wheat,
fully 40 per cent of the entire value of our
exports. There has been some difference
or opinion as to how far these advances are
due to speculative Influences and to natural
causes. There can be no question that, in
the case of each article. there are legiti-
mate causes at work: and there is as little
doubt that those causes have been turned
to account for speculative purposes. But
Wall street reasons on the facts thus: that
SO far as the Influences producing the rise
in prices have been natural, they show that
the downward tendency in trade values has
spent it's force; that diminution of produc-
ton has gone as far low prices will per-
nit. and that the demand is gaining upon
supply, SO as to foreshadow from this time
forward an upward movement in CONNER
cial values On the other hand, so far as
the rise in staples is connected with specu-
lation II evidences in the first place that
speculative operators have been expecting
this change. and that they are prepared to
follow it; while the readiness of speculation
to undertake large operations in the leading
staples is proof of the recovery of conf
dence among this class of operators The
naturally encourages the Stock Exchange
interests and suggests the probability of an
curities.
1t begins to be realized even by the here
tofore most rampant bears, that this coun-
try has turned its back on pessimism and
that the only way to prosper hereafter is
to be optimistic. 1t has been a long and
dreary lane for business people to wade
through as it's starting point was really
the Barring panic. in November, 1890. over
four years ago. The energies of the people
of this country have been crippled more
or less since that time, especially during
netns s has now leeit,matelv started nn its IT'S
upward movement and will gain strength
from now onward until it reaches extremes
lows another The Improvement thus far is
certainly of a substantial nature. 1t is Wis
ibie not only in the oil market, the iron
market, the cotton market. the grain mar
ket, but also in the security market. and
,,ast, put NOT leasl IN the siiv YER oullon mar
the white metal is considered permanent,
the. silver goods manufa cturers have just
decided to advance the price of all silver
manufactured articles 20 per cent The sue
cessful hunt for gold all over the world
net of the yellow metal is likely to be the
largest on record. There are evidences of a
god craze in Colorado, equal to the former
silver craze in that section. Everything
favors the development of the mines. in
Colorado; the climate is perfect, the mines
greatest smelters in the world are located
in that country, which are equal to all
emergencies
The real extent of Improvement now going
among our manufactures is not gener-
ally understood or credited The most bull
ish class in the country at the present mo-
ment are the manufacturers. They are bet
ter situated than any other class to feel
and measure the first throbbngs of new
impulse of demand and 1T is their testi-
r1ony, in almost every branch of trade,
many cases, they have the courage to de-
n1and higher prices and to wait IL neces-
ders are on a larger scale than for the last
two years, and they are increasing their
purchases of raw materials in expectation
that they may have to pay higher prices
for them. The feeling. in short, is general
that, providing the steadiness of the finan-
Country ea ' IS on the verge Of an era Of very
unusual prosperity. We are in position to
produce at lower costs than ever before,
last two years, made very important
gains upon other manufacturing countries.
The pressure of the new tariff has to some
extent contributed to this; partly by com
polling manufacturers to improve their
methods and economist on the costs of pro-
DartlV nv the cheaDen1ng Oh
some of their raw materials. In one article
or another, they are treadlng close on the
heels of England and Germany in the for
eign markets; and one of the early results
of the new conditions is likely to be a
material increase III our exports OF nome
manufactures. While the conditions for
production stand thus favorably, there is an
ar rage OF July two Since 'n the gPea
spring alarm of 1885, ii has been as much
as most people could do to supply the COM
mon necessaries of life-food, clothing, shell
ter and comfort-repairs, new OUTLAWS and
Injuries have had to stand over; and one
of the first things after such an experience
ordinary expenditure 1t is not merely in
domestic life that these compensatiens are
waiting to be provided for. 1t is equally
so in our industrial system, which calls for
repairs and requirements of machinery; and
rail or water. In the railroa DIS, construction
has been comparatively speaking suspended
since 1892 We probably need ed little In a the
much of such work seem to be contem-
plated. But all over the country. work is
much needed in the way of extensions,
double tracking and the creation of connect
ing links between existing lines. If all the
legitimate work of this kind could be done
within one year 1t would far exceed the
largest annual construction in our history.
1t will thus be seen that there is enough
waiting work to call the full energy of the
nation into early activity.
London remains a steady support to our
financial markets. England has recently
taken quite an important amount of our
securities; nor has she shown any DISPOSE
ton to realize on them under the recent
advance in prices. Under the rise of the
past week, London follows our market, and
shows confidence in the maintenance of
values.
Taking the situation a whole, / cannot
but regard ii as one warranting increased
confidence and a steady progress towards
higher prices on the markets both for goods
and investments.
saturdays Hank C1earings.
AT delphia-Clearings $40, IN, PAS; bal
ances $1.50S sos.
At New York-Clearances. s1O2, 49,, 234; bal
ances $7,61i.975
At misunderstanding. sl9,7s1.s5o; balances,
sl.S1l $50.
AT misunderstanding. 81. 239 294; bal
ances. $780,. 139.
AT ST. Louis-Clearings. Ss,Si3, 224; bal
ances $74,0I6 Money, 5d6 per cent New
York exchange. 81 premium bid.
At Clica gO-Clear SD OTIS COO. total for