The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1900-12-17

thus keeping up the tone Of the general market.
while the realizing. offerings have been well
orally prosperous conditions OF business and the
eager demand for particular stocks The scale
OF this partlcularized buying and the substantial
character OF the interests back OF IL caused the
plain intimation Of the coming construction OF
the noley market TO be practically ignored at
times during the week. In the hope that some
means OF relief was TO be forthcominE; not gem
OF a coming purchase Of the government bonds
by the United States treasury for the sinking
fund. and OF special gold import operations. were
excessively denied or discredited, the specula-
making upon the bank reserves. and liquidated
BY far the most important special movement
OF the week was that in the anthracite group.
led by the Fries. based on the purchase OF the
Pennsylvania Coal Company. thus doing away
with the threatened competition Of the coal
carrying road 70 tidewater, projected in the in
the Independent coal operators. The appearance
OF the new names IN the directory Of the Erie
Railroad Company also plainly indicated progress
or transfusions IN interests and representations
among the trunk lines. and led to the late move
Erie's Western and Southwestern outlet. and
as being probably included In the plans for
out. The large buying Of stocks during the week
thus indicated. whether for permanent holdings
tainties Of the money outlook. as il certainly
has absorbed funds which would otherwise be
available for borrowers. Apprehension OF the
effects OF a money squeeze on stocks is meas
urably relieved by the confidence manifested
indicating that they will not lightly be induced
TO throw them over by reason of a decline in
Prices But even those conditions are not a
certain safeguard against disaster in the mar
ket- IL the speculative commitments be very
extensive. so that a decline would wipe
cut margins. IL also would force a deluge on
the market The constant digestion OF profits
and the occasional reactions In the stock mar
ket recently insures it's reasonable health, which
an uninterrupted, reckless advance would have
endangered.
Some consideration was given to a report from
Berlin OF a panicky condition for mortgage
banks. which are described as equivalent TO our
savings banks, and the Paris market Is said
10 carry an overextended speculation In trac-
tions. The London money market continues
unsettled on account of the indefinite knowledge
OF the governments future needs for military
expenditures. but the Importance Of the foreign
markets is chiefly negative, as it precludes the
idea OF relief here by gold imports. Foreign
holdings OF American securities are so much
reduced that only small offerings would be ex-
pected to be forced home by a money stringeLcy,
and there Is no fear OF gold being drawn abroad,
unless in the event Of a CONFUSION in foreign
money markets.
The market for railroad bonds has been ac-
tive and broad during the week, and prices
have been higher on the average. United States
twos advanced Il and the fves n over the call
price of a week ago.
Following are Saturdays share sales and the
closing bid prices: