The Indianapolis journal., 1894-03-17
SHARES HELD FIRMER
Until Late in the Day Prices Were
Crawling Upward.
After a Brief Relapse Came Another
Strong Buying PeriOd-Indian-
apOlis Grain Dull.

At New York. yesterday. money on call
was easy at l per cent.
Prime mercantile paper, 3d51k per cent.
Sterling exchange was firm. with actual
business in bankers bills at S4.SS1zQLSSSi
for demand and s4s7a4s7A for sixty days:
posted rates. $4sSq4s913; commercial bills.
81 4S5Q4s614.
Silver certificates. 5s5sd591zc- Bar silver
closed at 59l4c per ounce; at London, q l-l6d
Total sales OF stocks amounted TO 1880
shares. Despite the engagement Of million
and a quarter OF gold for shipment 10 Eng
land. to-day, and the great probability of
the signing Of the seigniorage bill by the
President, the stock market yesterday was
strong and a higher range OF prices was
established throughout the entire active list
and in all but a few OF the specialties traded
in. The seigniorage measure was the sub
ject OF much conjecture. and the financial
community Of New York seems to be a unit
against ii, but the gold exports were not
factor of the speculative situation at all.
and the greatest advance was made just
after the announcement of the projected
shipments was made. This is the first
shipment To England on Exchange since
June. 1893.
London was a buyer during the morning
OF Atchison. ST. Paul, Erie and New York
Central and Louisville & Nashville. but
only In small amounts, and the room traders
were generally on the long side of the mar
ket There was at time a very great
pressure TO sell. At the opening prices were
mostly a fraction higher than the closing
figures OF yesterday. Cordage was notably
strong on a report that the United States
COrdage Company had entered into an
agreement with the National Cordage Com
pany by which the interests OF the latter
2Tlfi iN
well-fOunded statement induced purchases of
shares OF the National Cordage, causing
them 10 rapidly advance. the common sell
ing up 2l2 and the preferred per cent,
both closing at the highest point touched.
In the early dealings the general list ad-
vanced 1sQ&4 per cent A slight reaction
was soon made, but the speculation soon re-
covered its tone. and an upward movement
began, which continued IN force up TO mid
day, an Improvement being recorded OF A1
Ia per cent, General Electric, Sugar. New
Louisville q Nashville Ieading therein. After
noon the trading became very sluggish, and
some few shares declined a small fraction,
until about 30 o'clock, when small raid
was made on Chicago Gas, based on Chi
pany ordinance would certainly pass. The
result was a drop of u per cent. in that
stock, Sugar receding y and the rest of the
list smaller traction. The downward ten
dency of prices was OF brief duration, and
during the last hour speculation, although
dull, was very strong, Cordage making a
big advance and Sugar selling UP on good
buying per cent, the last being the best
price OF the day. The market closed firm at
or near the highest price touched, the le. J.
ing advances not already named being: New
York Central, Edison Electric and Lead
11e; Lead preferred and c., c., c. & ST.
Louis. is; Louisville & Nashville. IA Alton
* Terre Haute, Baltimore & Ohio and Illi-
nois Central, y.
The bond market was generally firm
throughout the day. Government bonds
were firm. State bonds were dull.
The following lble, prepared by James
Z. Berry, Roonr-r6, Board of Trade, shows
the range of uuOtatiOns.