The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1895-04-01

been considerable selling to realize profits.
a. deserves notice, however, that these
sales have had much less effect upon Drioes
than might have been expected, one set or
operators being ready to take what others
deem 1t prudent to sell; which is significant
evidence of the improved market valuation
or securities and OF a conviction that prices
are destined TO a still higher range Of
London continues to exhibit renewed
confidence in our securities. There has
been no important realizing here on account
of that market. and the operations on the
London exchange are assuming quite
investors have regained, in an important
measure. their former confidence in our
ing HAVING been realized there are other
helpful consequences that are likely to
follow Nearly everything dealt in on the
recent speculation to unreaSonably high
prices; and the main thing in which it is
now possible to create an exciting interest
is new gold mining enterprises. which are
being extensively organized and most of
which appear to be of very dubious and
unattractive character. Improved conf
dence In our oblg atoms and their current
relatively low prices, together with the
can hardly fail to restore very materially
Z the demand for American investments. The
might ultimately develop may be inferred inferred
from the fact that the amount of our
stocks ana bonds returned in 1893 and 1894
under the effects of the silver scare, has
been generally estimated at not less than
S2o0, 100000. The amount of gold-bearing
DCIQS exported last week was xZ,UO0,UD0.
light: - - :
the. foreign exchanges. AS it was almost
entirely the return of securities that caused
the extraordinary exports of gold during
the late depression, so the renewal of ex-
ports OF these obligations will tend to hold
the ;ship,ments Of specie 10 check. thereby
loan syndicate and Strengthening the posi-
ton of the United States treasury. 1t is
relations with European investors, that
there is now every assurance of an imme-
diate return to state of general national
prosperity. AS state of panic and de-
pression has always unfavorable effect
upon the foreign credit of a nation, so
for the plain reason that Industrial activi-
ty. is conducive to good earnings and di-
minishes the risks of investments. It may
be said that we have not yet escaped from
the unfavorable contingencies connected
y With silver ,sna But a,a,s do the United
sspect? Judging from s, the accounts
that reach u.s. the commerce
suffering much. more IMAM ours from this
cause. And in Germany the important
Of bimetallism with an energy which shows
that country to be vitality concerned in the
silver question indeed it may be seriously
there is more danger of unwholesome legis-
lation on this question in the United States
Under these circumstances, 1t is not easy
to see why England should single out our
account Of our silver agtation The uso truth
is that the late alarm among British holders
o.. our securities was caused less by the
that the United States treasury might
become incapacitated for keeping it's de-
notes-on parity with gold. They were
less concerned about the amount of our
silver Gold han the the ue eps
tenders at par. They have the utmost con-
fdence in other countries whose stock of
ours; and they would have had no distrust
in our case had the treasury been assured
hausted by the holders of five hundred
millions of government demand obligations.
assurance: and consequently it was subject
to drain which might possibly involve
were payable in gold coin That was our
weak point, and it was the chief cause of
of foreign-held obligations not payable specf-
fcally in gold. That. danger has been REM
ene by e boan Sa od wns mas not
treasury but also affords reasonable assur-
ance that the government will be protected
brought the treasury so near to the sus-
pension or gold payments. We risk little
ment is shielded at this point there will
be no effective reason why. Europe should
not maintain its former regard for Ameri-
I'm general trade, the prospects remain
encouraging. 1t is conceded in all markets
that prices have touched bottom; and that
lays a basis for buying which has. not ex-
listed for the last two years. Manufacturers
which they can afford to produce at the
current scale of prices, though perhaps with
quence is an increase of orders, and prepare
tions for materially enlarged production.
In all branches of the iron trade, excepting
tinct Improvement in business, which is
the more gratifying because that industry
of the state of business at large. The cotton
goods trade has entered on healthier
fabrics are advancing in 1 price The WOODEN
trade shows better demand: but the manu-
faeturers are held in some restrain by
advance in wages. In articles OF domestic
consumption, such groceries, ETC.. theirs
shows that the consumptive ability of the
people is on the increase. In brief, the
TRADE TRADE Of the country generally ord soe cyl
tons. but on an exceptionally low scale
of prices. which seems likely to prove
more or less permanent
Saturdays Bank CIearinEs.
At Observation-Disclosures s1o,e79, ~; bal
$2s6. 10. 7ss balances, SAL ,6s3,
At MISUNDERSTANDING, 81 191, PSI; bal
ances, 1921 900 For the week: Clearings.
S1. $50; balances. si,7951s9.
At New YOrk-ClearingS, $S2, OIL III, bal
ances. Sc, 429. 1866. For the week. $685. All, S3S
balances. $50, 415, 223.
At Boston-C learings, s1s, 7so.4s4; balances,
50, 132, 104.
At Chicago-Clearings, s129S1, Geo. Total
for week, S79, So, 900; corresponding week
last year. $11,729,0OO. New York exchange
Toe premium Sterling, posted rates. $4,000
4.SS1s. Money, 4@41a per cent. on call, SOS
on time
At misunderstanding. 1.7o6950: for
the week. s10.3S2, 100; for the same week
last year. So ass, 450 for the month, S49,-
992. $50; for same month last year, $40, H.
800.
At New Orleans-Clearings 81 .1S2, 460.
At Observation-Disclosures, 1866, 1873; balances,
$7S. 72O. Clearing for March, $7,457, ASS; same