The semi-weekly messenger. [volume] (Wilmington, N.C.) 1897-1908, 1897-07-06

stocks. that prices az securities were
outstripping the Improvement in business.
AS a result. the week has Witnessed this
cuimtuat:ou for thr time being. NJ least,
of the advance or securities and the frst
clearly defined reaction since the move.
WeUt st In over a month ago. The mark.
- has, however. retained a large degree
OF ~t"ad;u~Ss and even OF armn~Ss In
mary leading stocks. Monday and Tt.a-
DAY saw the heaviest Transactions on ths
sto,h exchange Of any day sine. that
following the election last fan. ON Mon
DAD %tt OFFERINGS sccE1cd to be NELL ah-
~oFntd aud the selling seemed nothing
more than the professional r-pHt t.Ltp~
winch h3s been "A feature at int. rails Of
Tue STEADY advance In stocks. Bu; Tues
nAN transactions made IL evident thar
te* buying which has led tho advance.
had. 10 a large extent s.4utIat.d is hnLf-
tiS> and vas not prepared a; once to auy
Tor another upward step TN tn, market
st Paul has been the leader OF the marx
- atl Week in activity. and enormous
speculative holdings In burlington hayo
ntrH SOLD on; ana transferred tx - Paul
\" "t,hiA STATEMENTS az gross rArninCS
~ -. faul have shown an ,x...Na Tor
tagh week in June over the correspond
lnS period tn any year since l~S. For ny,
fourth week In June tn, earnings r,port-
"d Yesterday are in excess OF N. carr.-
sponding week for any year IN the history
% Jhe 'oaa- -. fNuls not gain on tho
"stk - - and Burlington net loss IS
nearly equal. tar former stock haNfrr-
oNrrtaken and crossed the latter IN prlr,
anu closing the week at the sam. prie.-
The statement os both roads FOR NAV Ms
also notably good. The returns OF most
q tht railroad companies OF the lour-
Try continues 10 show Improvement.
\ feature OF the week has bacon rho 40.
cline IN sterling exchange to below M,
point where gold exports are p~rontahle-
even with the consideration amnuDttps-
To- a premium. which IL sian offered Tor
gold in Europe. a special order FOR Ssp.-
900 in gold which was received on Europs
on Thursday found no takers. IL Is tho
general belief of exchange and specie ex-
port houses that this marks the t.rmina-
uoh OF IN" outgoing gold movement for
this year. The growth OF bank claartngS
In June indicates an increased activity In
business, though IL Is TO be noted that
the Increase OF banks outside OF New
York Is, according to The Financial
chronicle. ! per cent. over last year. while
for New York city the increase Is 8 per
cent. supposed TO be largely due TO
stock speculation. Deposits In New York
clearing house banks are several miliio,
in excess OF the highest previous record
ana currency continues TO move TO this
centre. But the weeks expansion in
loans OF these banks is S.l37. 200 greater
than the expansion in the deposits for tho
same period. This indicates a step to-
wards the absorption OF the surplus idle
funds In the New York banks. which haze
glutted the money market for many
months and reduces the excess OF deposits
over loans. which last week reached s75.-
$4,000 by the amount stated. Net changes
FOR the week in the stock market are
mostly losses in tne active shares, but
they only reach as high as "A point in n
- NH''NN" o'A''O - va "a htN gilN
Gas 3 and Chicago Gas and Eastern llt-
nois preferred BIZ. On the other hand
Sugar + up ,, Rio Grandc Western. pre-
terred 50, the common ~. East River
Gas, preferred >, Chicago ana Eastern
illinois 8, Brooklyn Transit. Long Island,
I~lttsburg, Cincinnati. Chicago and St.
Louis, preferred and East River Gas 4 or
over, and quite a number OF stocks. most
Iy inactive ones, a less amount.
The bond market WAS strong and active
during the week. Operations Tor foreign
account We're less notable. The high price
Tor prime mortgages are forcing more
generous purchases OF low priced liens.
The aggregate sales were St.21Iubu. The
principal gains are. Chicago, st. Louis
and Paducah tirsts, 50. Paul gold scyeus:
Toledo. Peoria and Western ilr~ts. ana
Peoples Gas of Chicago iirst~. 4 each.
Cleveland, Cincinnati, Chicago ana ST.
| Louis consols, Commercial cable As and
Brooklyn Transit IS, 81 each, Burlington.
Cedar Rapids and Northern Cousols. chi
cage and Indiana Coal 5s. Chicago ana
! Western Indiana generals; Colorado Mid
land trsts. T.. r.. ana omaha ana -.
Louis firsts. +. r., ana Houston ana
/ Texas Central Deb. IS = or over. STAN
dard Rope Gs ana the ln-gisrn lost 4 and
Az respectively and kanawha aifu Nichi-
| gan Is 2i2.