The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1898-12-05

Banker Clews, of New York. after review
Ing the situation in Wall street last week,
says all conditions continue favorable to
high scale of prices. He bases his opinion
on the following:
First-The general trade of the country is
more than usually prosperous, in the great
West especially.
Second-The textile trades, which among
the iirSthand dealers have suffered partial
depression, have at last reached healthier
relation between supply and demand.
Third-The exports of cereals, although
beginning TO show the decline usual TO this
stage of the season, are yet relatively upon
an extraordinary scale.
Fourth-The railroads have all the freight
they can carry; and as evidence that their
earnings are not on a starvation scale, they
have given out orders, within the last few
days, for $4,000 tons of steel rails, valued at
50, 60OOCO
Fifth--The peace negotiations have con-
cluded with our acquisition of the Philippine
and Sulu islands, and with every prospect
that the treaty will be ratified By the Senate.
This launches the country upon a new era
which must begin to show themselves at d
comparatively early gay
Sixth-Our exports OF manufactures con-
tinue to expand rapidly The surplus OF gooqis
beyond what home markets can absorb Is
finding it's way into foreign countries at d
still rapidly increasing rate, with the re-
suit of relieving the pressure OF oVerpIo-
duction that has been felt in some of our
most important branches of Industry;
Seventh--We have concluded a settlement
any of the international complications which
many have feared; and, what Is sun more
gratifying the European po tfdi HIi0 rela
lions with this country.
Eighth-The diplomatic ability shown by
our negotiators at Paris and the remarkable
financial vigor exhibited by our government
under the pressure OF war finance can only
tend to bespeak confidence abroad IN the
wisdom and strength OF the United states
and establish foreign confidence in our IN
Vestments. A..
of s., 600 600 of gold during the Week-though
outside the ordinary range or exchange up
erations-is suggestive that we are on the
verge of a renewal of the influx or the yell
Tenth~We are singularly exempt from the
unsettled feeling that ordinarily attends the
assembling of Congress; for there are no
impending measures of legislation OF dis
turbing interest that are likely 10 come up
for treatment
now animated by confidence and hope
fulness such as we have not witnessed TOT
many years.
her present financial pinch and London be-
comes easier in sympathy, we may expect
to see a nearer equalization IN money rates
as between New York and London, In Whlch
case gold will in all probability flow hlther
in large volume. This legitimate flow OF the
yellow metal from Europe so soon after the
close of our war with Spain, with the con-
ditions which it represents, will show the
position of this country to be simply unique
among nations. Inc war may Hlldlly CooL
about $500 100000. We have not only met it's
requirements from our own resources, but at
the same time have brought other nations
largely in our debt as result of the diff
ference between our exports and imports
1t would seem that such an array OF de-
cided bull factors those we have re-
cited cannot permit a much longer continu-
ance of the neutral feeling which now pre-
walls in the stock market. December is not
usually month favorable to straight
forward buying movement; but it seems to
the last degree probable that, when the New
Year has set in, the series of conditions
which have above recited must give rise to
a very active and rising market: This APP
pears the more likely because it is doubtful
whether, ever in our financial history, we
have witnessed, at any one moment, such
grouping of conditions calculated to inspire
confidence as the present situation presents.
AS already intimated, | have little to say as
to the drift during December; prices may
go up or down, both; but when January
sets in, whoever is without stocks may find
much reason to regret his left condition.
Saturdays Bank CIearings.
At Chica gO-C,learinps SfS 9q3 100. balances