The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1895-01-08
STOCKS ARE HIGHER
FOREIGN BUYING WAS A FACTOR IN
WALL STREET YESTERDAY,
an Advance Was Recorded-Local
Grain Market Active.

At New York yesterday money on call
was easy at 1G11s per cent; the last loan
being made at ~; closing offered at 11a.
Prime mercantile paper, 2s4M41ac per cent.
Sterling exchange quiet but firm, with ac-
tual business in bankers bills at $4SS5s0D
lSSa4 for demand and at $4.S75s@4S7A for
sixty days; posted rates, $4SSia and 1851;
commercial bills, $4.S6la.
Silver certificates. 60c bid. Bar silver
closed at $3.50 per ounce; Mexican dollars.
1915 At London bar silver closed at
81 7-l6d
The total sales of stocks were ,9e1
fiares, including American Sugar $1,000;
Burlington, $500; Chicago Gas, 300; Dis
tilling and Cattle-feeding Company, $500;
General Electric, $500; Louisville & Nash
VILE 300; Missouri Pacific, 13,4oO New
Jersey Central. 14,1o0; Northwestern, 300;
ST. Paul. 15,4O0
The declaration of the regular quarterly
dividends of IL per cent. in Chicago Gas
and liz per cent in New Jersey Central.
while not entirely unexpected, were factors
Tor strength in these stocks individually
anu helped to strengthen the general mar
x seoa another favorable influence was the
the London Stock Exchange. which had
m Ines prices up so that arbitrage buying
buying, supplemented by PURCHASING e' 6v
local iS traders, impaired a strong tone to
~
mand in Chicago Gas sent that stock up
per cent, to 75 the. general list only
moving up a fraction. A slight reaction
occurred around IL o'clock but toward
noon . speculation again took an upward
turn. New Jersey Central leading with
gain of 312 per cent on heavy buying in
uucen ny the announcement that the regu-
ias dividend had been declared. There has
6 sd,, large short sales last week in this
stock and consequent there was rush
70 cover which made it quite interesting
for a time. When the demand for the
ceased "a Of 1
per cent. Missouri Pacific about the. same
time fell Off ia per cent. from the highest
price OF the morning and the general ma r
sket iost a traction. Toward o'clock the
~rading assumed strong tone, New Jersey
central selling up 2 per cent to 90ls. but
subsequently, reacting l per cent raIlying
Y and receding u, making the gain on
The day 3A per cent.
In the late dealings the entire market
gave way fraction and the market closed
heavy, but in most instances at an adj
vance on Saturdays final sales of Is03IA
per cent, the latter in Northwest preferred
,can Tobacco, IL; Louisville & New Albany
preferred, 1is; United States. Leather Isl:
Erie FRI Telegra d!a IA; Sugar and Manhaf-
ferred, y. The grangers are 1' up las
per cent, the latter ST Paul which WAS g
the only real active member of the group
among the few shares which show declines
On the DAY are Missouri Pacific lss per
cent; National Starch 1; Oregon Short
line, Utah Northern and Tennessee Goal
ana iron, -; Northern Pacific, Iowa Cen
n 1al PREFERRED and Sugar preferred IL, and
Inc bond market was strong and mod
erateiy active throughout the day The
sales aggregated ss55,Ooo. Government
The following table, prepared by James
u. Berry. Room 49, Board Of Trade shows
the range OF quotations.: