The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1897-12-13
views of Henry CIews.

Henry Clews, in his weekly review of the fnan-
cial situation at New York. says: "A substantial
advance has taken place in the stock market dur
ing the past week and prices are now approach
ing a level that will induce realizations unless
fresh stimulus to the rise is obtained. This adj
vance has been entirely due to the improvement
in political and business affairs and was thor
oughly justified by conditions. President Mckin-
ley's message made an excellent impression. His
opinion Cuban affairs, which have long been
a serious source of disquet, was eminently salts
factory to men of responsibility and thought. On
the currency question he the side of progress
siye reform, and his whole message, If open to
criticism at certain points, breathes the spirit
of peace and Cancellation. What is equally i'm
portant, Congress is in less irritable mood than
formerly; and is lkely to give more attention to
pressing home questions than to disquieting inter-
national affairs. The presidential election is be-
mind us and the tariff question has been settled;
so there is, happily, less occasion LOT pompdstlc
speeches and resolutions for political eilect tlan
a year ago. Currency, bankruptcy anu rallfoau
legislation are likely 10 occupy more eliecuEe at
tenuon tnan cuba or hawai-; iop wiiicn 6y ~
return thanks. ms promised freedom from uls-
turbng political agitation is destined 10 nave d
powerful mnuence IN the restoration OF business
PROSPERITY; Tor nothing mas so completely 1ettered
enterprise in the last three or -FOUR years as the
state of chronic lear largely developer py po'iedl
disturbances ous,od 90 ro,,t;coI
business conditions; but the latter snow a re,
our wheat at nigh prices mas imbaIted Won,
derful stimulus to business IN the West: anl
The whole interior is apparently about 10 start
on a new era OF development Kansas cares little
about Tree silver now That it's citizens are getting
out of debt and becoming prosperous. Inc IRON
large business in 1898. The South is fairly pros
porous IN spite of low-priced cotton and the check
imposed traffic by the yellow 1eVer scare. here
and there the hnger be placed upon sore spots:
some of our industries are still suffering from
overproduction; and at the big Eastern centeIs'
where the brunt of hard times had to be borne,
the recovery Is Tbe General trend however
rs certainly towards expansion; ana the strong
undertone of confluence winch now prevails WIN
Mltnln few weeks express itself IN action. ms
however, is not the season ior BUSINESS n.y.
fore the spring. 49,, -, - A.
new pr9sle n most gratssi1g gains The uni
fornity and steadiness of those gains is somethng
seventy-fsve to eighty roads legularly reporting
their earnings each week saown gains aLnGste 81
a dloIi es and these We're uni amt AS re-
suit few dividends nave b lac1aase e ana ma
frain from rate-cuttng. Tn preteFreIi stocks Oh
reorgsnhz ecause npder these COZ tons they would
be hrst to benefit some properties nawe va aisS 81
;nterest: a process which is likely 70 find favor
With Stockholders The darkest side of the rail,
read situation n Is In ne th p0Pb ghest frame OF mind
in this respect. They are united in tneir demand
they are very properly not prepared to accept the
terms upon which Congress seems VIKING 10 act
thar Of surrendering the rate-making power
stockholders should make themselves teit IN TINS
matter Thus far they have left the whole burden
Of influencing legislation to their managers Ihls
IS not a very promising means OF success
saturdays Bank Clenrings.
A. chtcaeo-Cleariugs SIS, sO2. 1872; balances,
81 s77 9O4 Sterling exchanged Posted rates. $A.S512
At Baitimore-Clearings, $S,OS0,S42; balances
1893, 743. - 90, 900. .a,.oo.
At Observation-Disclosures Sl1,64S, 1879; balances
$12l3OS4 40 oo- 100
At New Orleans-Clearings, 81, 1886, 59S.
AT St Louis-Clearings, 81 49, 407; balances,
$56l. S34. .-oo ,eo ,,o.
sIsS. 7Os. '''~l'''.
At New York-Clearings, slSs, PA; balances.
At Boston-Clearings. sls,155.s52 balances.
$1.954.952. , ., -oo o-o