The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1897-06-06

tween the two countries Missouri Pa
c-fic and Western Union joined the list OF
approaching values. With the favorites
Of the bears thus all shifted to the bull side
OF the market, there was practically no OPP
the market
THE WEEKS REVIEW.
The week has been most remarkable for
the increased confidence in buying and hold
ing Of securities especially railroad stocks
and bonds. The improved tone of the spec
ulation has been as remarkable Tor the ao>
sence of specific influences on the stocks
most affected as for the confidence shown
There car De no doubt that great part OF
the buying OF stocks during the week has
been predicted upon conviction that the
outlook for general business IS greatly i'm
proved and that the country has turnec
the corner from the depress towards i'm
provenent- The cheerful confidence shown
by the secretary of the treasury in public
utterances has made strong impression in
Wall street Much account IS taken OF the
contention that the volume Of business Is
equal TO that n the most prosperous Of a.;
years, although prices are still low.
Says Duns' Review: Reports from a..
parts Of the country show that retail dis
tr4butions or products is unusually large
and increasing and Comparison OF prices
this week in the leading branches OF man
ufacture show a remarkable similarity 10
the course OF prices in the earlier months
Of 1873. when the most wonderful advance
IN production and, prices ever known il this
or any other country was close az hand
This feeling has secured a hold On the
more san guine element in Wall street dug
ing the week, and IS largely responsible for
the bull market. Il IS fed TO 4 greater Or
less extent by various developments. Tne
effect OF gold exports Is no longer dreaded,
as Il is seen that the depletion OF the sur
plus gold reserve in the treasury IS not
measured by the amount or god experts
The decrease IN the treasury reserve since
the gold export movement began IS. in fact,
considerably less than two-thirds or the gold
exports The growing prospects that ne
country's crops are 20 be plentiful and OF
good quality IS accepted as giving the best
possible assurance OF increased prosperity
and EXPANDED business. The crop PROS
poets have had an especially beneficial ef-
feet on the granger group of railroads. The
reports Of earnirg s from these railroads for
the week have also added to their strength,
notably SO IN Northwest and Burlington.
A large portion Of the weeks speculation
so far as the railroad list was concerned,
has centered IN this group. The improved
earnings OF southern and southwestern rail-
roads continue TO reflect the expansion OF
business in these quarters also. In the
money market, there has been an increase
of activity in the mercantile paper depart
ment, indicating an increase OF credits in
trade. There have been also large with
York banks by outside banks for use in
different localities. The acton of the Chi
cSgo banks N reducing the rate OF interest
paid on deposits by outside banks has serv-
ed to check this tendency. ard 70 increase
again the accumulate ion OF outside banks
deposits in New York banks. The baro-
meter of the stock exchange, as usual has
been quick TO respond 10 these evidences
OF awakening activity in trade. The trad
ers have shown themselves somewhat tinid
---r 80 ryT Of -a emf
natural after the long period of depression
and recurring reaction. They have been
constantly watchful TO take profits or a
short turn and there have been halts dur
ing the week for this purpose, especially
al the times OF the breaks n the shares OF
Rubber and Cleveland, Cincinnati, Chicago
and St. Louis, due 10 reduction of d:v,-
deld in the former, and runor5 OF reduc-
ton IN the latter. But these offerings TO
realize have been steadily and confidently
absorbed without notable reaction and each
day of such developments has added to the
confidence OF the trading of the bull side.
Purchases for foreign account have been
large and well distr. buted, the low-priced
shares OF reorganized companies being es-
peciaily prominent in this move.
The granger shares easily led the railroad
list, both in point OF activity and strength,
Omaha, alone. tagging in the improvement
and closing the week unchanged. Most
of the leading stocks in the market showed
a gain of point or over. the marked ex-
cept.on being Western Union, with frac-
tional loss.
BONDS.
The bond market during the week dis
played aggressive strength and was cons.d-
erably animated the sales for the five trad
ing days exceeding g, CO., eco.
Governments were strong N sympathy
with the advances in other securities.
THE BANK STATEMENT.
New York. June 5.-The weekly bank
statement shows the following changes:
Reserves, decrease, s.. So 275; loans increase
81 40e COO; specie, increase SSe31 100: legal ten
dsrs. decrease S215,200; deposits. increase s.
! go 1G0:; circulation. decrease $500. The
banks now hold si53a0.s25 in excess OF the
requirements OF the % per cent rule.