The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1897-11-21

These banks have deposited in the treas
ury at Washington government bonds to
the full amount of this payment as secur-
tty and the government has arrangements
10 leave its funds on deposit in the vaults
of the banks.
LITTLE INTEREST IN STOCKS.
The stock market has been a rather triv-
ial affair all week. trading being of small
volume and the movement of prices slight.
The average price of stocks is slightly lower
than last Saturday and the weakness of the
coalers is most responsible for bringing
down the average. Elsewhere in the list
there are few prominent stocks that show
net change exceeding a fraction either
way Sugar and Consolidated Gas have
shown the widest variations and have abb
sorbed the greatest share of activity and
interest, and the net result is shown in
gains of less than 2 per cent. CONSOLE
dated Gas mas sold as high as 1882 and as
low as III, closing about points below the
best. The variations in this stock have fol-
lowed the mutable utterances put forth by
an interest whose assent is being sought
to the plan for merging the local gas COM
panies, and it has kept the stock quite ac-
tive to keep up with these changes Union
Pacific was markedly heavy Outside OF
these and few of the specialties, specula-
ton is apparently dead for the time being.
on Thursday the total sales OF all stocks
fell to less than 10000 shares. This apathy
of speculation is the more notable in view
of the amplitude and the cheapness of the
supplies of money and the large reserve OF
money supply made available by the heavy
trade balance in favor of this country. The
halt in speculation cannot be attributed to
existing conditions, which contlnued 10 De
very favorable, but rather to doubts re-
garding the future. 1t is usual for Wall
street to come to pause in its operations
in November, pending the session OF con-
eress the publication of the PreSi-
dents message and the perception
or the temper ana m .l dhleliIio ~
railroad earnings is also being ScrutiniZed
with great attention. now that the abnormal
grain movement has abated. The returns
for the second week in November snow
earnings well up to the best RECORDS IN
former years. and in the case OF some SOUTH
and Southwestern roads, where arrears
of traffic released from quarantine reStrlc-
tons are coming forward the showing Is
the best on record. But the expectation is
that the third weeks earnings VIII not De
fully maintained at the recent high lever.
The net returns from railroads Tor OctODeI,
which are expected shortly, are salu 70
show a very large proportion OF recent
heavy increase in gross earnings absorbed
by operating expenses. In view OF the uras-
tic system of retrenchment which was en-
forced on many railroad systems during the
previous year it was expected that there
would be arrearages to be MADE s0od IN the
present more prosperous times. Inc VICE
spread conflict of railroad rates all through
the country also tends to arouse douDts re-
garding future earnings The speculative
mind has pondered these things ana mas de-
cided to refrain for the present ana neltner
the confident and optimistic bulls nor the
skepticai and pessimistic bears nave peen
much n evidence during the week.
AS a natural outcome or cheap money
and speculative uncertainty the market Tor
railroad bonds has been relatively active
and the high-grade issues have been very
stitfly held, resulting in record prices IN
some cases. Prices are higher in nearly all
cases. Total sales, ST. 10000 United States
fives are Is higher bid for the week.
The following table, prepared by l.. w.
Louis, Room Ii, Board of Trade, shows the
range of quotations: