The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1897-06-20

ihme.ulateiy concerned are in better condition.
noaat ne iligher prices quoted do not by any
rnonav hsprssent the immediate return in
naenS hoped for from shareholding in the
eotnpanles They must be accepted rather
I i,,, eIle barometer of expected and hoped for
MI osefnent IN the business of the eoun-
ny an large. 1t is certain that the business
~ the country at large has not increased in
rns last month in the same ratio as the
Pe ~ OF STOCKS. But the firm resistance
VI the price of stocks to reaction and the
aSdiutliness OF buyers to take them at the
SSAIsups ieyel is a measure of the conf
uence that business is about to improve in
proportion. Probably the unimpeded prog
ihess OF the tariff bill on the final stage of
!ts qlSposai mas been the most encouraging
10 wall street of any one factor The Ha-
Wallan annexation treaty caused a momen-
tary tremor to pass along the pocket nerve
tnIousn the street, but the complacent at
tltude assumed towards the matter by the
powers OF the world has quieted apprehen-
sion as to Japan's protest. The latter. part
OF the week shows some growth of APP
prehenslon over the new impetus given to
the gold movement and the hardening of
exchange, said to be due TO the drawing of
exchange for tourists account and for July
settlements of dividend and interest pay
ments on securities held abroad.
GOLD RESERVE STATIONARY.
But Wall street has taken note of the
fact that the gold reserve in the treasury
has remained almost stationary at a little
above (and for two days little below
$l44, 100000 ever since May % The amount
increased since the date named from $SS, 295,-
800 to $90,0502o0. The gold shipped from
the country by gold exporting houses since
the same date amounts to $5,237,7 94. The
shipments Saturday, amounting to $35O,0OO,
and those announced for next Tuesday,
amounting to $l350,000 have not yet APP
peared in the treasury statement. Not all
Oh TINS gold Will be taken from the treasury,
put the Withdrawals will probably be suf-
nclent to bring the treasury reserve to the
lowest point il has reached in the present
gold movement The increase of $1S2 400 in
specie in New York banks the past week,
IN view OF the fact that S60O,0J0 in gold
shipped on Thursday was all taken from
the banks, is worthy of note The weeks
advance in prices OF stocks has added Sig
nihcance from the fact that it has been
made independently OF London, where the
dealings have been apathetic, owing TO
dealers being absorbed with the rest of
local gas stocks lead the weeks advance,
Consolidated gaining Us. Tne grangers
have been strong ana the gain in the group
averages over point, ST. Paul preferred
leading, with 242; Lake Erie & Western
preferred ana Susquehanna d Western pre-
terred. or over; sugar, Cotton OIL, Pull
man, st. Joe & Grand Island first pre-
ferred and Western Union, 2 or over, and a
large number or stocks l point or over.
Declines We're shown by Union Pacing of
1A, Northern PACING preferred "a ana Louis
VIllef d Nashville Is.
The bond market reflected fully the grow
ing confidence in the general situation.
Values OF the leading issues moved up ma
terlally on extensive purchases. Trading
for foreign account was in considerable vol
ume, but was more generally centered in
the low-priced liens which were taken for
speculative and investment account. The
speculation was very wide, numerous OF the
hitherto neglected securities looming in
prominence. The variations in the gilt
edged issues were especially marked with
the st. Paul mortgages scoring the extreme
vibrations. The aggregate sales were
$40 445, COO. The principal advances Were:
Susquehanna & Eastern general, per
cent; Missouri Pacific conSol skies, Mil
waukee, Lake Shore & Western frstS, Ash
land division and International & Great
Northern thirds, per cent; Hooking Val
ley fives, International & Great Northern
seconds, Louisville & Nashville f1ves, Mill
waukee, Lake Shore q Western hrsts, ohio
q Mississippi seconds, Peoples Gas of Chi
cago consol skies, Pittsbug q Western
firsts, ST. Paul second sevens, st. Paul
consol sevens, Toledo, Peoria & Western
firsts, and Rock Island firsts, per cent or
over. Among the list of declines We're:
Flint & Pere Marquette fiveS, Port Huron
division AZ; Standard Rope SKIES and
Pennsylvania four-and-a halls, 212.
Dealings in government securities were
marked by general tirmness, with new
tours conspicuous for a rise to 125A, the
highest price yet attained for this issue.
The improvements in other grades were
less noteworthy, with the trading rather
light.
The following table. prepared by L. W.
Louis, Room II, Board of Trade, shows the
range of quotations: