The sun. [volume] (New York [N.Y.]) 1833-1916, 1897-06-06

- UNIV cs
A decided increase In the volume of business
on the Stock Exchange this week. as well as n
further and general advance in prices, can
not but be construed as evidence that
the change in sentiment that was discern
ible two weeks ago is steadily becoming
more pronounced. The reasons for tho more
hopeful views that now prevail are obvious.
They include comparatively rapid progress to-
ward the enactment Of the pending Tariff bill.
assurances from the Administration, through
the Secretary Of the Treasury. that its next
step viii be in the direction of currency
reform, and q growing conviction that the Gov
eminent will act conservatively in dealing with
the Cuban situation. Not less important are the
favorable crop prospects, and indications. based
upon statistics. that the currents Of foreign
trade are not likely to run permanently against
this country. For the first time in many
months European operators and investors In
securities are beginning to evince an active in
terest in the market for Americans. This Is
shown not only in the moderate purchases that
have been made here, but also in certain publi-
cations made in London and in the attitude
taken by influential bankers at that centre.
ENCOURAGEMENT has also been found in the
annual reports of the Chicago and Northwestern
and the Chicago, Rock Island and Pacific rail-
road companies. which were made public this
week. Contemporaneous traffic returns from all
sections Of the country also show improvement as
compared with the corresponding periods Of last
year. The trade reports ofrecognized value do not
as yet tell Of q pronounced revival Of business
activity; they show. nevertheless, that a fairly
large volume of business is being transacted,
that commercial mortalities are decreasing in
number. and that the slight changes In
prices and in the volume OF business
are In tho right direction. or specific develop
Il a
passage by the Illinois Legislature of the gas
consolidation and frontage and the street rail-
way measures. all OF which will doubtless
receive the approval Of the Governor. While
there has been a steady elimination Of the
short interest this week. there has also been a
perceptible increase in the amount of commits
sion business transacted, particularly in the
bond market. The dealings in bonds during the
two hours Of business to-day were larger than
on many complete business days up to a week or
so ago. The bond market has been relatively
stronger than that for stocks.
The market for stocks this morning was fairly
animated and was strong throughout Sugar
Refining regaIned its accustomed place in re-
spect to activity, and scored a net advance OF
1as q cent. The most decided progress toward
higher prices was made. however, by Jersey Gem
trail. Other features were Chicago Gas and
the Granger stocks. Tho market for the first
named was apparently held In check to an
extent by conflicting reports as to whether the
Governor OF Illinois had signed or would sign
the so-called gas bills. Tho weekly statement
of averages of the Associated Banks shows an
increase In loans Of over $4,400.000. The only
other noteworthy net change is the increase in
the deposits brought about chiefly by tho
expansion of tho loans. The movements OF
money in and out Of tho city, including
the comparatively small exports Of specie.
have about Offset each other, and In consequence
tho larger deposits have reduced the surplus re-
serve nearly 81 100000. The closing of the
stock market was strong. at the best prices for
tho majority of the list.
As compared with the final prices of last
Saturday. the entire list is higher. The more
important net advances are In Northwest and
Chicago Gas. $50 v cent. each; New Jersey Central
and Tennessee Coal and Iron. 3ls each; Burling-
ton and Quincy. 3; Rock Island. 2Ss; American
Sugar Refining and Louisville and Nashville.
GA each; st. Paul. 2is; Atchison preferred, lie;
Delaware and Hudson. Ia; Missouri Pacific,
Reading, and Southern hallway preferred, 1l2
each; chesapeake and Ohio, Ia; Atchison,
Cleveland, Cincinnati. Chicago and st. Louis
and General Elect rie, ] each; U. 8. Leather pre-
ferred, "; National Lead and New York Cen
trail, % each, and American Spirits. q y cent.
Final sales compare with those OF yesterday
as follows: