New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1897-09-13
THE FINANCIAL MARKETS
STOCKS MOVING HIGHER.
heavy RAILWAY TRAFFIC MOVEMENT
CONDITION OF THE FEDERAL
TREASURY.
Sunday. September 12-p. 7

Sunday September 12-p m.
The last week in the stock market was an
.rentful one but not an unexpected one, when
the factors governing the situation taken
into consideration Rapid advances on large
volume OF business, increased investment and
commission house interest. a wide and varied
distribution of dealings and constantly ac-
cumulating bull sentiment were based upon
growing business in mercantile and financial
circles upon favorable crop conditions, both in
respect 10 the supply and demand. and upon
multiplying evidences OF year Of peace ana
plenty Railroad stocks and bonds appreciated
IN value because Of heavy demand induced by
increased earnings. People bought securities
because Of their encouraging outlook for large
dividend distributions. They bought them be-
cause they knew that by waiting for actual an
nouncement Of increased dividends they would
have to pay higher prices: and they were con-
WINGED that current prices were not at the top
level. Capital is moving into securities because
II has confidence in their intrinsic worth Men
Who control large amounts OF money active
market interests. The Nanderbilts the Rookie
fellers the Flowers. the Armours, the Bemonts.
Mr. Morgan, and many other prominent men
OF substantial means are enthusiastic bulls on
the general situation and on the stock market,
where they have added to their holdings. Men
Of this character do not buy securities unless
they know that the business situation warrants
an appreciation in their market value When
conservative body of men such as that com
waukee and st. Paul Railway Company de-
cares an extra dividend on st. Paul stock. the
world at large may know that a great change
has taken place in industrial conditions in this
country and that the most intelligent fnanCiers
are absolutely confident of permanent revival
OF industrial activity.
II was an eventful week in the stock market
for several reasons In the first place, ST. Paul
went above par and sold at 10l&. closely fol-
lowed by Burlington. which crossed par Fri
day and closed within a fraction Of s.. Paul
Yesterday at 101. Then st. Paul declared an
extra dividend and in no ones mind was there
the least shadow Of doubt that Burlington
would also increase It's dividend rate at no
distant time. New-York Centrals earnings for
August were published. showing an increase
OF nearly $4,000; also Illinois Centrals for
the same time, which gave a gain OF SJll,22S.
other splendid showngs were made. Atchison
directors declared a per cent interest pay
ment on the companys adjustment bonds.
Grain shipments from the West were eXtraor-
dinarily large: general traffic movement was
on the increase, and bank clearings were
enormous. The values Of the majority Of Sc
curities were improved. particularly of gas
stocks, and in connection with this class Of Sc
curty a table printed in The Tribune in the
week. which is herewith reproduced with Sat
urday's figures. furnishes an interesting COM
mentary on the changes which have taken
place in market values in the last six months: