The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1897-08-29

INCREASE IN EARNINGS.

INCREASE IN EARNINGS.
A detailed analysis of some of the rail-
road reports showed that increased earn
ings were due as much to the west-bound
general merchandise as to east-bound grain
traffic. This increase in general freight
business and the reported growth of tele-
graph business were made effective use of
reliable indications of the expansion OF
general business in the country. The senti-
mental effect of dollar wheat was no small
factor in effecting the resumption of the
upward movement in the stock market,
even with the doubt as to the safety of the
crop still unsolved. No serious doubt is
any longer entertained that a market is
assured for an unusually heavy crop in the
United States at prices which are eX-
traordnary. The prosperous year thus as
sured to the farmers is felt to be the GER
the first producers through all the lnQus-
trial and commercial community A lea-
ture of the week has been the reduced
volume of transactions. Thus the reactlon
in the middle of the week brought out no
large offerings to iquidate. On the other
hand, the sharp advances on Monday and
some other days were, on a total Volume
of transactions, only about one-thlrd as
large as some Gays during the recent perlod
of greatest activity. AT the same uhe; IL
is evident that very heavy orders 10 reaIlZe
are placed at a certain level ABOVE tue
market in the prompt speculative stoChs,
which checks any advance above a certain
point. On the other hand, there is evidence
of heavy buying orders, some OF them on
an increasing scale downward, which are
a strong buttress to the market below the
existing level and which demonstrate the
faith of large operators in the cohtlnualce
of the improvement. This condltlon gives
remarkably firm and steady tone 10 me
market. The less prominent STOCKS witch
are brought upward into ACTIVITY, and IN THef re
this condition of things does not n0lu 10
the same extent, move more easily a
number of stocks have thus attained prom
hence during the week missouri tbe Most note
worthy examples, and to-day Omaha was
added to the list with jump OF points
The FACT that the money market in New
York has become easier during the Weeh
is hard to explain, IN view Oh tne a TIC
country The failure of the money marker
to harden is attributed to the TACT tnat Ine
heavy retrenchment and enormous lqulu,@-
lion which has been going on for months
in every department of business nave Ie1I
large surplus funds ayailaPIe at r men, H.
Doints as we'll as in New York. Inc PIE
thora Of money is the cause or uelerrIlS
the gold import movement, rates lot AloneS
ruling higher in the London market t'ah
here Net gains for the week equal or e1e
coed 3 points in a very large NUMBER o.
shares. Rock Island leads the grangers WIN
an advance of 5ls Burlington 54s; Ohand'
AZ. Chesapeake & Ohio, Baltimore d ONO,
Great Northern preferred, Lake Shore,
Manhattan. National Starch preferred, New New
York Central and oregon NaVlSaIlon "
ferred are up points; Cotton Oh preIeIteu,
Cleveland. c., G. & st. Louis Flint 4 Pere
Marquette preferred and Norfolk q west
ern preferred 4 points or over; East River
Gas Laeede and Chicago cSsT GTe nds sfse
and cleveland c. c. & ST. L. preferred, 9;
The notably active features in the bond
list which was strong throughout, were
the gains of Chesapeake q ONO (412), ran
sas q Pacific consolidated SKIES ana oregon
Improvement fves. Gains for the week
reached a point or more in the AtchIs94n
adjustment fours Kansas & Texas seconqS,
Northern Pacific general lien threes Chi,
cago Terminal receipts and d. Erie En- general
lien threes. Total sales, $5,5OO,UO
Government bonds moved up "A to y dur
ing the week on sales of only $4,000 NY
The following table, prepared by l.. ".
Louis Room II, Board of Trade, shows the
range of quotations: l,o