The Minneapolis journal., 1904-12-31
Special to The journal.

special to The journal
New York; Dee. 31.--A very strong undertone
prevails In stock market circles, and active and
higher markets all round looked for, condi-
tions being ripe for more healthy speculation and
business than during most of the year now end
Ing. In some respects 1904 was not such Dad
year after all. For instance, the appraised
value of foreign merchandise entering this port
the present year equaled, If it did not surpass,
the importations at New York have been in
creasing, and if the ratio of increase Is
maintained this month the total importations for
1904 at this port should approximate $o5o,Ooo,-
900.
That times have been good in this country
during the year now closing is demonstrated in
the phenomenal buying OF diamonds, pearls ai ana
distributing center for precious stones in the
United States, and this year the imports OF the
gems will undoubtedly reach 5000, ooo which
| banner Year for such entries Last year the
precious stones brought to New York showed a
falling off Of $755,S19 compared with the pre-
vious twelve months. That this year imports
| exceed those of last year. and rival or exceed
| the high record Of 1902, is taken to mean that
the buying capacity of the American people for
! luxures was never greater. Altho the price OF
| diamonds has advanced this year or = per cent,
the buying has not been interfered with.
| People Buy Luxurles.
| One of the most extraordinary increases III the
luxury line is that Of cigars. At no time III the
history of the local appraisers department has
such an enormous volume Of transactions taker
place. The report to be given out next week Is
expected to show that cigars We're entered ere ,oo al
| The choicest wines and other beverages that th'
old world can produce have been sent to th'
United States. Their value is estimated at more
than $7O OO0 900. Textiles Of every kind from
many lands. have been examined at the ap
praiser's warehouse Prominent in this class o
merchandise are Swiss embroderies At leas
S12, 900. 900 worth of these dainty articles nav
been shipped to this city since Jan. l last.
Another important line of imports lnclude
silks Thousands of dollars have been paid b!
local importers for silk fabrics from Japan
draWn raWGe nea4ilS an1 on European
chinaware and gold and silver jewery. as wei
as plate.
Good Financial Outlook.
= So satisfactory is the financial outlook tha
certain institutions have marked up the price
of issues in which they are Interested 1ulls ~
| Is per cent The reason of this Is the large ols
; bursements for interest and dividends when WI
, be made Jan. I. and which, naturally, WILL d
seeking reinvestment. -,
A well Unknown flnancier once remarked that tn
way to get the public into the stock market
| to put up prices five, ten or fifteen points an
let the market take care Of itsef ,E the e npsi, sai
came in much more readily than after the mrs
five-pOint movement and after fifteen points
was comparatively easy to induce buying.
There is much talk about the easy rates pre-
. vaiing for both call and time money. lt use
= to be a saying of the late Governor Flower ina
with easy money he could put the stock marke
+ almost anywhere The chances are that a
8 generally construed in Wall street, easy none
. | will be considered as favorable rather than a
! unfavorable factor
Big Men Away.
f Because Of the holiday season, very few OF tn
4 prominent officials of large corporations an
, heavy operators have been at the Waldorf thl
week Those who are in town express conhdenc
with respect to conditions There is no fallin
off In enthusiasm with respect to the steel stu
atlon A well-lnfOrmed man In the steel trade
who has recently come from the west, says ina
! tho most important item of news within the las
; few days with respect to both business cond1
tions and the stock market is the breaking OF tn
drought in the Pittsburg district.
The stock market has become generally stron
as a result Of the preliminary renvestment dc
mand. The moneyed interests in the old worl
| awakened to the necessity of buying stocks an
, bonds at reasonably low rates, and cabled owe
orders for large amounts. This buying i'm
parted buoyant tone to speculation.
| s., S. Schroff.