The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1889-07-24
MONEY, STOCKS AND BONDS.
An Active and Strong Market with Material
Gains Throughout the List.


Gains Throughout the List.
NEW YORK, July 2S.-Money was easy
at 203 per cent. the last loan being made
at 2l2, closing offered at 2.
Prime mercantile paper. 1896 per cent.
Sterling exchange was dull and steady at
$4.s6 for sixty-day bills and S4.s734 for de-
mand.
The total sales of stocks were $4,000
shares, including the following: Atchison,
% $50; Missouri Pacific, $500; Northwest
ern 1870; New England, 7,495; Reading, 15,
500; st. Paul, 1855.
The stock market to-day, during the first
and last hours. displayed more animation,
with more decided tone, than it has done
for weeks, and under the influence of more
favorable news and good buying for both
sides of the account, material advances
were scored in all portions of the list. The
foreigners were again buyers in this mar
ket. and the amount of their purchases is
stated at 10000 shares, while the covering
of shorts" was on liberal scale. The
bears" for the time being were doing lit
tie, and the absence of the usual offerings
Of stock set some of the smaller traders and
bears" to covering their shorts" which
had the effect of opening the market up
from ls to 81 per cent, while in the early
dealings considerable of a squirt was made,
almost everythingmOvingu up fractions fur
Their. Atchison was the only marked excep-
ton, and it retired 81 per cent. The move
ment was explained by the fact that some
of the shorts" wished to get back their lines
of the stock at lower figures. and rnmors
that the company. would be compelled to
pay about S3O0, 900 for damages in Chicago,
helped along the effort to get it down. c.,
c., G.. IL st. l.. early became the strong feat
ure, the common moving up over per cent.
In the general list, however, Missouri Pa
cific, Union Pacific, Northern Pacific pre-
ferred and the Chesapeake & Ohio stocks
were all remarkably strong, and the latter.
later In the day, became Feature. The report
was that Drexei, Morgan & Co. had bought
from Mr.. Huntington 100, 600 shares of the
stock, and the inference was that it was for
the Vanderbilts, who would then have con-
troll Of another through line from the At
lantic seabOard to the West. After tho
first demand was satisfied. the market be-
sagged of slowly, and many stocks retired
to the neighborhOod of opening figures.
The buying began again toward delivery
hour. and sharp upward movement was
the list. Burlington crossed par, and
special movements were made in many
stocks. The most marked were in
Sugar Trusts and Hooking. Valley,
the latter being influenced by q
report that appreciation committee was to
be formed to keep the road out of the re-
ceiver's hands. The market closed with a
fairly active business and strong at the best
prices of the day. The entire list is higher,
and c.. c., c. 81 st. l.. rose 2os; Sugar, 2l2;
Hooking Valley. ga; Rock Island, 1Ss; Ches-
apeake Il Ohio. first preferred. 2; Northern
Pacific. preferred, 1as; Union Pacific, HI;
New England, Northern Pacific and Read
ing. rs each; Chesapeake & Ohio, Burling-
ton q Quincy, Louisville d Nashville,
Lake Shore. Missouri Pacific and Wheeling
d Lake Erie, per- cent. each, and others
fractional amounts.
Railroad bonds were more firm, in sympa-
thy with shares, but the market was dull,
the sales reaching only $9S3, 900, of which
Reading tours contributed $4,000. The
feature of the day was Hooking Valley
tives, which rose. 2ss. to 6Sl2; Minnesota g.
ST. Louis firsts 2'to 97
Governments bonds dull and barely steady.
State bonds were entirely neglected.
Closing quotations were: