davidaulloa/AmericanStories huggingface dataset:
The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1900-01-29

the effect on speculative markets of
sudden development promising early ter
mination OF the war and resumption OF
the Transvaal gold output is another ques-
tion 1t is a fact that some competent au-
thorities on the money market In Wall
street are not free from apprehension over
the money outlook, Notwithstanding the
present ease of money in nearly all depart
ments. The first part of the month brought
heavy disbursements from the United
states treasury on account OF pension pay
ments. which kept down the surplus, but
current returns from the treasury show
day-to-day surplus owing to heavy reve-
nue. collections. The deposit of internal
revenue collections in national bank depos-
itories are also approaching the limits pro-
vided for by the government bonds depos-
tied with the treasury by the banks as
security, after which the taking up of the
surplus by the treasury would be resumed.
In the case OF the London market, the
Bank of England, having helped to tide
over the annual settlement period by liber-
al loans, is now recuperating Its reserves
and withdrawing large blocks OF loans.
Although the bank rate has been reduced
from to per cent since the first OF the
year, IL Is still nearly l per cent. above
the private discount rate, and thus encour-
ages continued paying of loans.
The future of the London money market
depends much upon whether the Bank OF
England's policy of recuperation is in prep
aration for government loan issues to pro-
vide for war expenses-an event which
would probably draw gold from New York.
ing of doubt and questioning aroused by
the very free discussion and criticism OF
q New York trust company. These ac-
counts, while Of importance in themselves,
are of even greater Importance in the prin-
ciples involved in the placing of loans look
ing to the promotion of industrial corpora
lions. The argument that prices of secur-
!ties are at an inviting level must be con-
sdared in connection with the fact that
vast amounts of money were spent at the
extreme high prices last year, compared
with which present prices represent heavy
losses and encouragement or inability to
buy. These positive factors toward dull
ness are in addition to the negative or pass
i've one of waiting for the industrial future
TO define itself more accurately,
The falling off in the rate of inflow of
money seeking employment has served to
decrease the demand for bonds and has
resulted in price reactions in some points.
The market has continued firm for the
most part. United States new fours de-
clined a; the threes and old fours. regis
tered. q, and do, coupon, " in the bid price.
Following are Saturdays share sales, and
the closing bid prices:
The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1900-01-29

bu. Spot quiet: No. red. 7szsc Z. o. b.
afioat. prompt: No. northern Duluth. 79Sc
T. O. b. afioat. prompt: No red. f4ssc ele-
vator. Options opened easy, under disap-
pointing Liverpool cables. but promptly
turned strong and active on further signs
OF positive strength at Paris. coupled with
fresh war news. Finally the market eased
OF, however. under readzing. and closed
easy at unchanged prices 10 &c advance.
March closed at 74c; July. a5s4751sc. closing
at 75isc.
Corn-Receipts. si.4e5 bu; exports. s2.7es
bu Spot easy; No. ?. 40ssc T. O. b. anoat.
4Cisc elevator. Options opened easy, Win
wheat and continued depressed under free
Western selling. together with fine weather
prospects. The market closed easy, at sc
net decline May closed at S91sc.
Oats-Receipts. 1SS.o0 ou; exports. aov
bu. Spot quiet: No 2. 2si4c; No. 3. &izc:
No white. Slikc: No. white. Si1zc; track
mixed Western. 2ed30lzc: track white, 40
S5c. Options duh and easy.
Hay steady; shipping, eSgOc; gooo 10
choice, S0dS5c. Hops quiet: common 70
choice. 1896 crop. &C; 1898 crop. sQsc; lssS
crop. l2dlSc: Pacific coast, 1896 crop. 4qec:
1895 crop. Ease; 1899 crop, l29lSc.
Hides firm; Galveston. 20 TO . lbs. ly1sc:
Texas dry. a TO 30 lbs. 1sc: California, u
to . lbs. 2lIsc. Leather steady; hemlock
sole. Buenos Ayres. light to heavy weights.
25G25ikc; acid. 25d36izc.
Beef steady: family, $l2qlS; mess. slo.So'
beef hams S2l.20u22; packet. sildl2: city.
extra. India mess. Saa5ea22. Cut meats
firm: picked bellies. s5.S71sQ7: picked shoul-
ders. Sc; picked hams. S9qlO.z. Lard
steady: Western steamed. $6S9ls; January.
Sc 27I2, nominal; refined steady; continental.
$3.50: S. A, $50; compound. S.S1l1os. Pork
firm: mess. s10.50H11; short clear. sn-oo0
1850; family. $lSGl3.50.
Tallow dull; city. 5G5 3-16c; country.
5Ikm52sc Cotton-seed oil quiet; prime crude.
32i1c: prime yellow, 35m351zc-
Rice steady: domestic. fair TO extra 40
6I1c: Japan, 4%G5. Molasses quiet; New
Orleans, open kettle, good 10 choice. 449
Sc
Freights to Liverpool quiet; cotton by
steam, &c. nominal grain by steam, SAD.
nominal.
Coffee-Futures opened quiet with prices
s points lower and later eased of under
covering, following larger brazilian re-
ceipts than expected, unsatisfactory Eu-
ropean cables, decreasing volume OF specu-
lation and a weak spot market. LiQuida-
ton was the principal local feature. Inc
close was barely steady. at about the bot
tom for the day. a net loss OF to 10 points
Total sales. go bags including: Febru-
ary 6S0d6.S5c; March, 6.S5c: May. 6-s54lc:
July 7.lOc; September, 715c; November.
Use; December. 7.30c. Spot Rio weak and
nominal; No. invoice, SIC; No. job
bling. sac. Mild quiet but steady; Cor
dova, S%4612%c.
Sugar-Raw firm; fair refining. 15-16d4c:
molasses sugar, SAC Refined firm ana
more active; mold A, 49oc; standard A.
495c; confectioners' A. 495c: cutioaf, 555c:
crushed 5.55c; powdered, 525c; granulateds
5l5c; cubes, $500.
The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1900-01-29
MARKET TURNED WEAK
EARLY FIRMNEsS SUCCEEDED BY
EASIER TONE ON CABLES.
Wheat Closed Lower on News from
and Provisions Were Easier.

CHICAGO, Jan. 27.-The wheat market,
strengthened early by the Paris advance
and Argentine plague rumors, weakened on
the report that New York had cleared
vessel for Rosario, closing easy May a
shade under yesterday. Corn and oats
closed each 1sQAc lower and provisions
21ad5c depressed.
May wheat opened h@kc under yester-
days closing price, at 6skQ6Sssc, and in a
moment touched 6sAc because Liverpoors
advance of aG11d was regarded as a poor
response to the gain of 11sc here yesterday.
Paris cables were strong. the weather cold,
the ground still lacked snow protection and
Buenos Ayres wire announced that that
port, as Well as Rosario, had been tempo
rarily closed on account Of the plague. This
array of news influenced a reaction, May
ascending to 6s7sc. The feeling was some
what nervous over the South African stu
alton. Later New York report that the
Argentine consul there had cleared a vessel
for Rosario was taken as a refutation of
the previous report of the closing of Ar
gentine ports, and the market reacted from
the top. May slumping to 6sAc. A reaction
to 6s5sc ensued on covering. The close was
easy, May a shade under yesterdays final
figures, at 6Sss@6S1kc. The greater part of
the session was fairly active, although the
opening and the close were rather quiet.
Commission houses were fair buyers. ex-
ecuting some good orers for foreign houses.
Three loads were reported sold from here
via Galveston to France. The seaboard re-
ported only five boatloads taken for export.
Atlantic port clearances in wheat and -four
were equal to 81, 900 blu. Primary receipts
were $4,000 bu, against $4,000 blu last year.
Minneapolis and Duluth reported 2S9 cars,
compared with 354 last week and 4S2 year
ago. Local receipts were Is cars. none of
which graded contract.
The corn trade was quiet and the feeling
easy. Country offerings were freer, and
the cold weather predictions gave promise
Of a larger movement from first hands, all
of which influenced selling OF corn futures.
Receipts here were 217 cars. May ranged
from SSlsc to 327sc and closed bQAc under
yesterday, at 33c.
The cold weather and sympathy with
corn had a depressing effect on the oats
market Buying was scattered. Local re-
ceipts were 217 cars May sold from 23ssG
231lc 10 23Ac, closing easy and 1sQAc lower,
at 23A q233sc.
The death of p. d. Armour. jr., possibly
had slightly depressing effect on the pro-
vision market. Hog receipts were light and
the market at the yards early higher, al
though it weakened later. The trade in the
provision pit was dull all day. this counting
against the price May pork sold from
$40 S2lb61O. so to slO.771k, and closed sc under
yesterday, at s10.771kg10S0; May lard from
So to S5971e. closing 2l1c lover, at s.; May
ribs from $5s0Q5.S21a 10 S577lz, with the
close 21kc depressed, at $50.
cd Monday
cars; corn, 200 cars; oats, 205 cars; hogs,
25 OOO head
The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1900-01-29

basis of income. 1t should also be remem-
bered that American railroads have passed
through the reorganization period; that
the water has been thoroughly eliminated
from the large majority; that honesty and
efficiency prevail in their management to a
larger degree than ever, and that they are
now conducted with a more reasonable re-
gard for public welfare than was the case
in the past. Shippers still have grievances,
but fair treatment is certainly easier TO
procure now than ten years ago. Stability
and equality of rates are becoming recog-
niZed among the essentials of good rail-
road management; the result being that
public hostility TO railroads is diminishing
in proportion they deal fairly with the
public. So long as the railroads deal equi-
tably with the public there will be little rea-
son to fear hostile legislation, and the ship
per need have small fear of the present
concentration of management provided he
secures fair and stable rates. All of these
facts strengthen railroad investments. AT
present the railroads are experiencing the
benefit of the country's prosperity. Accord
ing TO the Chronicle 119 roads in the twelve
months of 1889 and fifty-nine roads in
eleven months earned 81, 40, 100000, an in
crease of $114,5O0,O00, or about 10 per cent.
over the previous year. These are stupen-
dous figures. but If the comparisons were
made with 1895 or 1886 they would be still
more astonishing. They mean that the most
important industry in the country has been
transferred from a condition of uncertainty
two or three years ago to one of soundness
and strength. AS investments or as specu-
lative purchases there is no class of Sc
curities that offers better inducements than
those of the railroads They are the safest
and the surest of reasonable profits.
Without wishing to discriminate against
the industrials, it cannot escape attention
that they are untried; that they are sus-
tanned by profits which probably cannot
continue; that as a class they are highly
inflated; that they must face a period of
hostile legislation; that many of them must
undergo severe reorganization, and that
speculation therein involves unusual risk.
There are few of the industrials organ
lied on conservative lines which will prove
remunerative to their holders, and these
may be held with confidence. So far these
industrials have not become serious men,
ace to the stock market, for the reason
that only small proportion of their issues
OF securities is distributed among the pub
lie. The great majority of the industrials
are still held by the original holders who
accepted securities when surrendering con-
troll of their individual plants. If they
failed to sell at the high prices Of 1899 they
simply lost imaginary profits; there were
no real losses to them: hence the decline
has caused less injury than would have
happened had the public been free buyer
of these inflated properties. In the future
operations in the industrials are likely to
be carried along. on more conservative lines.
The banks are discriminating sharply as to
collateral, and this is factor of safety.
The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1900-01-29
NEWS IN SUNDAYS JOURNAL.
Resume of Chief Events Printed in the
Issue of Jan. %.

1t is rumored that Japan intends to make
n demonstration against Russia.
DR.. Jabez c.. Castro is under arrest at
Terre Haute, charged with attempted in
cendiarism
The Postoffice Department is considering
the ACCESSIBILITY of selling postage stamps
in book form.
General Wilson. chief of engineers, has
completed his estimates of sums available
for river and harbor work.
Two hundred distinguished officials and
prominent men throughout the country at
tended the dinner of the Gridiron Club.
The Senate committee on privileges and
elections heard objections to the seating
of Senator-elect Scott, of West Virginia.
The Kentucky House unseated Berry
The test of strength showed that the Goe-
bel forces are in control of that body.
In Harrers preliminary trial before the
Louisville Police Court he was held and
his bond fixed at $1,000. Harrel made no
defense.
the spelling Porto Rico shall prevail, and
not Puerto Rico as recently fixed by an
executive order.
st. Louis must begin work in earnest if
Ii desires an appropriation for a pneumatic
tube mail-service system between the post
office and Union Station.
Sampei Gompers, president of the Amer
lean Federation of Labor, called on Presi-
dent Mckinley and urged him to recon-
mend legislation desired by the country's
labor interests.
A bill will be introduced in Congress short
ly TO extend the facilities Of public libraries
by reducing the postage on books from
main stations to branches, for the con-
venience of patrons in small communities.
The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1900-01-29
AT NEW YORK.
Wheat Barely Holds Its own, and Cof-
fee Is Very Weak.

NEW YORK, jan S.-F1our-Receipts,
17.2ss brls; exports. 1l.25S brls. Market quiet
but steadily held. Minnesota patents, So. So
G410: Minnesota bakers. s2.SOd3; winter
patents. s355q3.S0; winter straights. s.. 40d
3.45; winter extras. s2.60d2.s5; winter low
grades. 81 25d2.4Q. Rye -four steady: fair to
good s3l0l3.2O: choice TO fancy. IS. 25d355.
Buckwheat -four quiet at sl.75G2
Corn meal steady; yellow Western, soc;
city. 7sc; Brandywine s2.20a2.SO. Rye quiet:
No. Western, 60tsc (. o. b. afioat: state
rye. 55q5sc C. 1. Z. New York. car lots
Barley quiet; feeding. 42l4947i.c c. 1. f. New
York; mailing. 5oG53c c. 1. T. New York.
Barley malt dull; Western. 55a5sc.
Wheat-Receipts. $500 bu; exports. LOO
The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1900-01-29

NEW YORK jan observation-disclosures. 2,f71
packages; market steady: June creamery. zoo
23c: Western 19d25c: factory. 16Gisc. Cheese
Receipts 2,22s packages; market firm; fall made
fancy. large. 12d13c; fall-made fancy. small. lz&
G13c: large late-made. 1%n12c: small late
made 121c Eggs-Reeceipts, 4.479 packages:
market easy; Western, lie, loss on: Western
ungraded. at mark. 13q16c
KANSAS CITY, Mo-. Jan. N.-Egg market
weak nc lower; supply hand ample and
some dealers will carry surplus over Sunday,
Fresh Missouri and Kansas stocks, fysts. 1l5z<
Dozen cases returned.
PHILADELPHIA, Jan. N.-Butter nrm; fancy
Western creamery. 25c: fancy Western prints,
25c. Eggs steady: fresh nearby, 1sc: fresh West
ern. 19c; fresh Southern. 1sc. Cheese unchanged.
CHICAGO, Jan. 27-On the Produce Exchange
to-day the butter market was steady; creameries.
i9G24c; diaries. 1sa22c. Cheese firm. 12Q1Sc. Eggs
steady: fresh. 141zc.
CINCINNATI. Jan. T--Butter quiet. Eggs
dull, Ice. Cheese steady.
BALTIMORE. jan H.-Cheese butter and
eggs strong unchanged.
ST. LOUIS Jan. H.-Eggs steady st iso.
The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1900-01-29

Trade of the Week Disappointing, but
Prices Well Maintained.

The volume of trade in the week ended Jan. 81
was not up to expectations, owing to the bad
weather for four days and muddy roads, which
curtailed trade in the country. but prices in all
lines well held. Provisions very firm
at prices recently revised The same Is true of
dry goods. staple groceries and iron and steel
products. The mild weather permitted the ship
ment Of fruits and vegetables. Choice apples
oranges and bananas in good demand and
prices firm. Holdings OF irish potatoes are
large and prices are easy. The supply OF sweet
potatoes and cabbage is large for January but
large sales Of sugars and coffees exceeding those
for January of any previous year. Higher prices
The local grain market was dull all the week,
on account Of light receipts All cereals are in
furnished by the secretary OF the Board of
Trade:
freight; No. red. 67G7oc; January. lie track;
mixed, ale; No. 3 white mixed, sic: No. white
sia ssa No ' yellow. 2sR SsCh.c No y mixeS
SIC; No. mixed. slc; No mixed. 2sqsOc; ear
s.oats-No., white, 2sc; No. 3 white. Csc;
Nj aay@No timothy, sii5oais; no 10. timothy.
inspectlons-corn: No. 9 white. 10 cars: No 3
cars. Oats: No. mixed, car. Hay: No. /
clover. 1
Poultry and other Produce.
prices paid by shippers)
Turkeys-Young hens. TIC per Id; turkeys.
young TOMS &c; culls, 4c; turkeys, hens, old
fat. &c; turkeys. TOMS old. fat. &c; springs, to
lbs. Size; hens, &C.: cocks, 3l5c; ducks. full
fsa.hersd SC; geese full feathered. choice. &c;
Cheese-New York full creams. 14915c; domestic
Swiss 16d17c; brick, 14c; limburger, 1ic.
Butter-Choice roll. 15c per lb poor. No. 2.
10Ql2c.
Eggs-Fresh lac per doz-
Feathers-Prime geese. soc per ID; prime duck
1od17c per ID.
Beeswax-30c for yellow; Csc for dark
Wool-Medium, unwashed. 1sG19c; tub-washed
2o125c; bury and unmerchantable SC less.
HIDES. TALLOW, ETC.
Green-salted Hides-No /, 10c; No. 2 &c: No
1 calf lie; No. calf. SIC.
Grease-white. 4c; yellow. 3Ac; brown, 2Xc.
Tallow-No. l, izc; No. 2, &c.
Bones-Dry. sl2Ql3 per ton.
The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1900-01-29
Dry Goods.

FALL. RIVER. Mass, Jan. z7.-Ths selling
committee OF the Fall River Manufacturers As
ISOLATION, in charge OF the entire product OF the
Fall River mills have had its powers extended
so TO control the entire output. ~ the plans
OF some OF the prominent local mill men
successful. This extension OF power will be
the direct result OF break In the price of 3sis-
inch wide goods which have recently sold at 81
cents. Some mills here have parted with stock
at prices ranging from &c 20 &c under that QUO
tation. The feeling prevails that. had the SELF
ing committee had charge OF these goods and
similar makes higher prices could be obtained
and the tone Of the market improved
NEW YORK, Jan. 27.-The dry goods market
closes this week with a duh demand In all de-
partments. Business through the malls shows
Improvement. particularly in prints. small
lines OF these selling well at firm prices. Fancy
prints quiet. Brown sheetings and drills I'm in
different request in heavy weights. Four-yard
sheetings firm with moderate sales. No change
in the situation OF bleached coarse c0lOred
cottons. Print cloths close the week inactive
in all makes Cotton yarns in better request
and advances OF 1sc TO ic per pound recorded
the week. Worsted and wooden yarns quieter
demand, but firm.
The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1900-01-29
Elsewhere.

NEW YORK, Jan. Observation-Disclosures. I2s.
all consigned direct. Feeling steady; cables
steady. Exports. 22i cattle. IS sheep and 800
quarters OF beef
Calves-Receipts. nine: none for sale. Feeling
firm.
Kogs-Receipts 2244: for sale Market
nominally firm
Sheep and Lambs-Receipts, ASIA. Sheep. &c
higher; lambs firm to loo higher: sheep A-254
$685. lambs. S. 25qI.SIh: yearlings. $3.50.
CHICAGO. Jan T.-Cattle-Week closed nom-
inally steady for natives. Texans in active de-
mand and 25c higher than week ago. Butchers
The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1900-01-29
ding futures ranged as follows:

Cash quotations were follows Flour steady;
winter patents 50. 80I3. so: straights. S3d3.35:
clears, 81 90d3 10; spring specials. SSSoa3sO pat
$40. No. spring wheat, eid65c; No. red 6SL
Q6s4c. No corn, 31Aq3l1zc; No. yellow corn.
CSC: No. 3 white. 25d25izc. No. rye, 5od53c. No.
2 barley. 3SGi2c. No. l faxseed. s153; North
western sl.53 Prime timothy seed s.. 50Q2 So.
Clover seed. contract grade. ss.25aS.s5. Mess
pork, per brl. sl0.5s. Lard. per 100 lbs. s.. 75a
sailed shoulders boxed. s.. 5od5.75 Short-clear
sides boxed. s5.soge. Whisky. distiiers' fin
&c: granulated. 5.4ic-
Receints-Flour. b. 900 brls: wheat, 1900 bu;
corn 1867 900 bu: oats. 300. 900 bu rye, 1900 bu:
barley, 1900 bu. Shipments-Flour. 50. 900 brls:
wheat. 81 900 bu; corn 16S 900 bu oats 1873 900 blu
rye, %. 900 bu; barley 1900 bu-
The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1900-01-29

NEW YORK. Jan. 1.-THE market for evap-
GRATED apples exhibited a weak undertone to-
day. Prices eased of materially unfavorable
news from country towns and prospects OF large
receipts for next week. Buyers were scarce
California dried fruits were in moderate dmand.
being stimulated by the cold weather. but prices
remain unchanged. state evaporated apples,
common: 6n6Ssc; prime. sAg7c, choice. 71dsc:
fancy, S49c: California dried prunes. 1Ldsc
per 10. 10 size and quality. apricots. Royal.
l3Gl5c; Moor Park. 1sG1Sc; peaches peeled. 201
BE; unpeeled. 7iknl0c.
The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1900-01-29
OILS.

NEW YORK. Jan Z7.-Petroleum steady: re-
fined New York. s.s0c; Philadelphia and Beiti-
more. s.s5c; in bulk. 7.2oc. Rosln firm: strained
common 20 good Nbzlzdl.6S. Turpentine firm
WILMINGTON, Jan. 27.-Spirits turpentins
firm at 5lizn52c. Rosin firm at 12-5ai3.Oc. crude
turpentine steady at 175a9.oc. Tar firm az
l3.0c.
CHARLESTON. 8. G.. Jan s7-Turpentins
market firm at 5lc. Resin firm. UNCHANGED
The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1900-01-29
Opinions of Henry CIews.

Wall-Street t1nanclal Review.
Last week We directed attention TO the
superiority of good railroad securities for
investment and speculative purposes over
those which depended upon a single line
of business for revenue. The railroad. as
We said. draws its earnings from many
sources. so that when one source is at a
low ebb others are likely to compensate.
giving the railroad an exceptionally stable