The evening times., 1899-07-01
Prices Continued to climb during the

Prices continued TO climb during the
short session today in a most inspiring
manner, opening a triffe above yesterdays
| close and closing in most cases at the top,
and from a fraction to three points ad
vanced There was apparently no limit
| to the buying demand. There was a large
! amount of realizing but the buying for the
short account and by the bulls was greatly
superior to it. One of the most surprising
matters of the entire day was the lack OF
| effect of the bank statement. This showing
| of the banks for the week was the worst
| that has been made. at any time in recent
! months, showing very large decrease in
reserves and deposits and very large in
| crease in loans. Despite this fact prices
went UP better after the statement than
before in many stocks. The week ends,
| figuratively speaking, in blaze OF glory,
| with immense advances in prices and with
no sign of weakness in the standard stocks
anywhere.
| 1t can be doubted very little that the
opening on Wednesday will be equally as
| surprising Most careful critics expect to
! see prices open considerably higher than
| even the high close today After that is
| of course a conundrum. There are many
| people who expect TO see reaction of
some magnitude on Wednesday or Thurs
day. and a few are talking of the proba-
4 =
best view of the case to take is that at
present the market is following its logical
course advancing when the country is
prosperous and prosperity seems sure in
| the future, and that for this reason the
safer side TO be on is the bull side, If
precautions are taken against temporary
| reactions. An advance such as this has
| been is usually followed by loss of at
| least small part of the gain and point
| or two recession next week would not be
surprising But on the other hand it must
be remembered that during December and
| January there was an advancing market
| for weeks at time without any recession
worthy of the name.
The bank statement was bad as has teen
said The only good fact in connection
with it was that the public expected it
and was not unprepared. There was
| little selling in advance of the statement
| but after 1t made its appearance all the
early declines were regained. The figures
of the statement are as follows: Reserves
decreased s11. .423, $50; loans increased SS.
| $50, 600 depositsVG decreased $11, ,53l 300;
specie decreased $685., 200; legals decreased
| SO, ST., 900; circulation decreased $31. 200.
Again the grangers and the Vanderbilts
were the leaders of the list this morning,
though they divided the honors with Penn
sylvania and one or two other most buoy
ant stocks. st. Paul went to 132 and
closed at the top price. Burlington went
nearly to 1873 and closed above 1877. Rock
Island went above 11S. The week has seen
advances in these securities that have
| been entirely remarkable They are the
| stocks that the bears hammered hardest
a few weeks ago and saw no good in any
| where The turn of the tide came, of
course, when the news of the wheat crop
/ began to grow better. But it will be re-
| membered that exactly this had been pre-
| licted from the beginning. 1t is one Of
he safe rules to, buy the grangers when
| they go off on stories of wheat failures.
The talk now is most optimistic regarding