The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1897-08-08

capital that prosperous times for this coun-
try have set in. The developments in the
which began TO manifest itself in the tone
of the speculation three months ago, and
the strength of Saturdays market reflects
the belief of still further Improvement for
the future. There were about 2,S25. 900
shares of stock sold on the local stock ex-.
change during the week. The par value of
the bonds marketed was 1864 900. These
enormous transactions we've made on an al
most constantly rising market and at a
level Of prices that has not been reached
before in years and in some favorite stocks
never before. Yet the faith OF the outside
values has Continued unabated. as wit
messed by the constantly increasing volume
of commission house purchases. The pro-
fessional operators seem to be the only ones
tinged with skeptfclSm and their calcula-
tions are largely based on technical
considerations, such as that reaction must
come after so long continued a rise. They
operate in the confidence that most of the
recent buying has underlying 1t orders TO
sell to stop loss at a given point in any
reaction. The bears made a determined ef-
fort on Thursday to reach these stop or
ders. but the outside buying took the mark
ct out of their hands and drove them 70
buy back their short safes in the last half
hour of the day. This was the only marked
reactionary feature of the week. The most
striking fact in connection with the weeks
great market has been the persistent selllng
for London account, no sign OF interest IN
American securities being manifested from
that money center until Saturday, when
some 10000 or 1900 shares were bought for
London account. The London prices up to
Saturday nave been below the New York
parity and New York operators have made
part of their purchases in the London
market.
The industrials were very heavily dealt
in all week, and Tobacco closed 11s per
cent. higher, and Sugar 612. Leather pre-.
feerred is up AZ and Gotten az Rp p1ed i6
the grangers the gain extending TO 61s, IN
Burlington, 5s in st. Paul and oH2 IN CHI
cago Great Western, the latter stock hav-
ing come forward TO a leading place in the
list OF active low-priced shares. tn coal
ers are all up over 2 points and New Jersey
Central 5A. Illinois Central leads the high
priced Vanderbilts, in all of which there
was good buying, with an advance of S2,
and New York Central gained g.; Manhat-
tan leads the whole list, with 1875 points
rise. A few of the other notable gains
are: Illinois Steel, 8; Tennessee Coal, q;
Laclede Gas, 93s; Laclede Gas preferred,
II; Long Island, 5; Louisville, Az; Metro
politan Traction, 6; Oregon Navigation, 4;
Pittsburg, Cincinnati, Chicago & st. Louis
preferred, s; Pullman, 81; Southern "a
and St. Louis q San Francisco first pre-
ferred, 73s.
Transactions in railway and miscellane-
Gus securities were inconsiderable at I'M
proved prices, which reflected the marked
confidence in the general situation. The de-
velopment of various favorable influences
tended to a~ccentuate the upward move
ment, assumed considerable proportions.
The Iow-priced and middle-grade issues alb
sorbed the bulk of the dealings, with pur-
chases for speculative and investment ac-
count by local and foreign interests, the
chief factor in the Improvement. Inc ag-
gregate sales were SIS, 662, 900, winch en-
braced an extensive variety OF Issues. The
principal gains were: Erie general tours.
5; Wisconsin Central frsts, o. wisconsin
Central incomes, 34s; Kansas racine con-
soils trust receipts, AZ; st. Louis South
western firsts, 3A; St. Louis
seconds, 3.
Louis, Room II, Board of Trade, shows the
range of quotations.: