The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1894-10-06
STOCKS MAKE A LEAP
GENERAL TONE on NEW YORK
CHANGE TOWARD HIGHER PRICES.
ordinarily Good Bear News Had No
Eject an the share List-Lo-
IT, cal Quotations Unchanged.

1t New York. yesterday, money on call
was easy at 1 per cent.
Prime mercantile paper, gas per cent.
Sterling exchange was strong. with actual
business in bankers bills at s4S6AG4s7 for
demand and at s.s5aGlSs for sixty days:
posted rates. A.Ss1zn4s7 and As71zd4Ss;
commercial bills. s4.Sf904.s4a.
Silver certificates. es1zc. At London, bar
silver was Md.
Total sales were 157. l47 shares, including:
American Sugar. $1,000: Burlington. 2O,1O0;
Chicago Gas. 200: Distilling. 1900; Louis
ville & Nashville. 5000; Missouri Pacific,
$500; Rock Island. 500; st. Paul. $500.
Speculation on the Stock Exchange was
~-rong in tone and movement of prices was
upward. the occasional slight reactions
which occurred being merely the usual I'M
important recessions Incidental 10 a rising
market and due 10 realizing sales and bear
spurts which did not seriously interrupt
The advance toward a higher range of
values. 1t was in the railway list that the
Improvement was most marked and OF this
group the grangers were the leaders. a
prominent factor OF the situation was the
firmness of American securities on the Lon
don market, although beyond some small
buying of st. Paul. the foreign houses were
not In the market to any appreciable ex-
rent Thursdays covering was continued
and most Of the room traders were on the
bull side and there did not seem to be any
bear arguments on which the shorts could
operate. SO firm was the tone Of the specu-
lation that no effort TO hammer stocks was
made on the announcement of the appoint
ment of a receiver for the welI-known
Stock Exchange firm Of Coffin & Stanton,
which anpoaro 70 hox,a haap due rotbar 80
a disagreement between the partners than
TO any financial embarrassment. Their re-
Idtlons nave oeen strained Tor some time
past The rumored death of the Car was
also without effect on the street and no
better evidence Of the markets strong un-
dertone is needed than that neither Of
est speculative furry. Under ordi-
nary conditions temporary depression
the other. Sugar led in the transactions.
and was so successfully manipulated as to
be closed exactly at Thursdays price of
sold down to SIS There is a growing be-
iei that the controlling interests in the
stock are DESTROYS OF keeping the price
down for effect on Congress. and are not
averse TO increasing their holdings at the
lower figures Chicago Gas also stands un-
changed on the day. having moved within
deal of this stock was sold TO take the
profits of Thursdays advance. while in the
later dealings there was good buying of the
shares. IL is thought that the bull clique.
disl.king too many followers, took occasion
10 shs ke out some of the weaker holders
b. letting the price down a few points.
Tine principal gains on the day are: Bur
lington & Quincy, Lake Shore, Erie pre-
ferred, Northern Pacific preferred and To-
bacco preferred, l per cent. 81. Paul. rs;
P~ittsburg. C.. c. & 1t. Louis. IA: Denver x
Rio Grande preferred. rs; New Jersey Cen
ans Express. 4 per cent. Declines were es-
tabiished OF / per cent. in St. Paul & Du-
luth, Ohio Southern and American District
Telegraph In final dealings trade was light
in volume. but the market closed strong.
The bond market was firm all day and
the trading was strong. sales reaching an
aggregate of s1,4SS. 1000; Chicago & Ohio
four-and-a-halfs. Texas Pacific seconds
and Atchison tours being the most prom
inent in the dealings. The changes In
prices were mostly confined to fractions.
Government bonds were firm. State bonds
were inactive.
The following table. prepared by James
z. Berry. Room Is. Board OF Trade. shows
the range OF quotations: