The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1893-11-02
TONE WAS STRONGER
Last Of the New York Loan Certi-
ficates Are Redeemed.
Healthy Feeling and Higher Prices for
Wall-Street Shares-Indianap-
oils Grain Dull.

At New York, yesterday. money on call
was easy at 11zq2 per cent, the last loan
being made at 2, closing offered at q
Prime mercantile paper, 5q71s per cent
Sterling exchange was dull but steady
with actual business in bankers bills at
SS1kq4S3A for demand and s4.SO1kG4 500.
for sixty days; posted rates. $4.S2Q4 50;
commercial bills A7919G479$I.
Silver certificates several days ago e91L
@7O1sc; to-day quoted at &C, sellers; COO
bid. Bar silver closed at CSC per ounce;
Mexican dollars at SOC; at London bar sill
yer closed at 3l12d
All the outstanding loan certificates
amounting to 100000. were Cancelled this
morning by the clearing house loan COM
mittee. This ends the work of the commit
tee, and at the next meeting OF the clear
ing house it will be discharged after MAX
ing its final report
The total sales of stocks were 3141O0
shares. 1t was a decidedly healthy market
In stocks, and the volume of business
though lighter than during the last few
days, was fairly active. Two great feeders
or the New York market were not in op-
Grafton, 1t being a bank holiday in London
and the Chicago exchanges being closed on
the occasion of Mayor Harrison's funeral
rms tended to restrict the dealings and
IeIt the speculation practically in the hands
or local operations. The influences affect
ing the speculation were mainly such as
concerned special stocks The silver biII
was regarded practically out of the wa1-
It's passage through the final stages being
matter or mere routine. The news that
the house had agreed to the Senate amend
mentS did not catch the street until after
the close of business, and it is not likely
that IL would have caused any movement
had il been done during business hours
The cancellation of the outstanding clear
ing-house loan certificates closed an incl
cent or the days Of panic and was accept
ed as evidence of the remarkable recupera-
tive power of the local finances. The first
issue or these certificates w.S made on
June IL, the total amount authorized hav-
ing been 81, 100000, and at one time some
sS9OOO,OOO were in existence. These within
the space OF four months were wholly re-
tired, an operation which has seldom if
ever, been paralleled in the financial cen
tiers OF the world
Among the special features of the dav
was the unusually heavy buying in Ches-
apeake y Ohio, the purchases being cred
tied to the Vanderbilts. A report was cir
eulated that the statement of the Chicago
burlington q Quincy for October would
the net income for 1898 would not falI short
OF that of 1892, which, il was said insured
u continuance of the regular dividends for
vile q Nashville contingent game the sug-
gestion that the directors of that company
taken their option to buy the Chesapeake
Ohio IL southwestern road The dispatch
stating that the Baltimore & Ohio had
noated a S3,OOO,OOO loan in London was ac-
cepted by the street as evidence of a re-
turned confidence in American corporate
institutions on the part of the English
capitalists, and taken in connection with
the other favorable incidents of the day
assisted In developing the strength of the
market and induced purchases. Realizing
sales deprecated values somewhat. but i'm
the final dealings the market recovered it's
tone and closed strong, the advance for the
Gay ranging from = to 2M per cent Gin
ctnnau, Chicago & st. Louis preferred rose
ga 'o
The railroad and miscellaneous bond mar
ket was fairly active and strong Govern
ment bonds were firm and State bonds
were without movement. Closing quota
tionS were:
United States Fours, reg...:111
United States Fours, coup .iI1ss
Pacific Skies of '9o........... .102
<ttSIsoh '..'..''..'...'.......... 20A
ADAMS Express. ........................143
Alton & Terre Haute. ................. 81
Alton Terre Haute, pref...........115
American Express. ........................113
Chesapeake * Ohio. OBSERVATION-DISCLOSURES. 205s
Chicago. Burlington & Quincy........ S5%
c., c., c. & st. Observation-Disclosures. S6i5
Delaware. Lackawanna & Western. .1714
Tort wayne .......................l1
Lake Erie Western, pref............... 69l2
1-dhs SnoTe' .'.........................
iiI y
Louisville & New Albany. ...............1f
Missouri Pacific. OBSERVATION-DISCLOSURES 73s
New Jersey Central. .......................1l9
Northern Pacific. ........................ 72s
Northern Pacific, pref. 23is
Nortnwestern ACKNOWLEDGEMENTS. 1855
northwestern, pref. ....................13S
New York Central. ........................I OSih
Peoria, Decatur Evansville. SI
5ulInlan Palace ..........................17
ROCK Island ............................6 9si
United States Express. .............. 20
Wabash, St. Louis & Pacific So
Wsitash, 81. Louis & Pacific pref 1875
49,. - - - I-APIe '..'-...'............l26