The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1895-03-30
ADVANCE IN SILVER
GROWING BELIEF ENGLAND WILL
JOIN BsfETALLfC CONFERENCE.
Increased Volume of Business the
Stock Exchange-LocaI Markets
Active and Firm.

At New York, yesterday, money on call
was 3n2ls per cent. last loan. 2; closed.
aer cent.
Prime mercantile paper 4Gl5lk per cent.
Sterling exchange was quiet and steady
with actual business in bankers bills at
A.s9If@4s915 for demand. and at $3.50
ASA for sixty days; posted rates, s4.SS1k9
4s9 and S49oDf.901z; commercial bills. s4.s714.
Silver certificates, s5G651ac: bar silver,
64lsc; Mexican dollars, 504c At London
bar silver was 2sssd per ounce. The adj
vance In silver in the open market in Lon
day yesterday was followed by a CORE
spending rise in bar silver at New York
which led to increased strength and activity
In silver certificates. The official price of
silver Is fixed at p. m. daily in London at
a meeting of bullion dealers, and this rate
stands as official, Notwithstanding opera
tions may have been made prior to or sub
sequent to the official announcement. The
price is thus fixed in order to enable pro-
ducers and smelters to form a basis for
operations. Yesterdays advance in the
price of silver is attributed to a growing
belief that England will consent to join the
bimetallic conference which now has as
surance of representation from the United
States, France and Germany. 1t is said that
Spain Is In the market as buyer OF
bullion In connection with the Cuban in
The total sales of stocks yesterday were
z a, shares res. in &C dag the following:
6.3o0; Atchison, 1880; Burlington, 41OO; Dis
filling certificates 3d. 200; General Electrics,
Jersey Central, $500; Northwest, 500;
Reading. 1890; St. Paul. Il. 400; Silver GER
There was slight increase in the vol
lime OF business on the Stock Exchange yes
aerdsy and the speculation was firmer. the
result OF the trading being a very general
appreciation in values, ranging from n to
z per cent: As rule prices were a shade
lower at the opening and in the early trad
Ing there We're fractional reactions i'm part
OF the HIST. The depression was of brief
duration, and under the leadership of Sugar,
which rose 1ls per cent, the market moved
upward, and, with the exception of an oc-
casional slight reaction, continued to adj
of the srceIalties Betweer Els and a:45
there was pressure to sell which was most
pronounced in General electric. but in the
nnai transactions there was a sharp rally
and the market closed firm in tone. The
trauing was heaviest in Distilling Trust re-
ceipts. which were in good buying demand
oy insiders during the greater part of the
Afternoon there was quite heavy eei lioudation
causing break of u per cent. with final
recovery Of Us. The report that the Atch-
son reorganization plan had been signed by
the New York members of the Joint COM
snittee and sent forward to London for the
with the statement that the directors of the
company had Endorsed the plan, induced
buying OF shares, which caused an advance
OF lis per cent the last being the highest
price of the day Sugar fuctuated between
100h,and l0lse, closing u per cent below the
top. and II above Thursdays closing Gem
eral Electric rose 5s per cent. during the
morning on purchases, mostly for the ac-
count of the short interest, and in the
afternoon on the haminering of the bear
contingent the entire advance was lost
And the stock stands unchanged. Reading
orc n rant ~x.lr
ing net gain of Il per cent. The grangers
were well h..u and show Improvement
Or 5al3,s exclusive of Rock Island, which
Is unchanged. In the coal shares there
was fairly. good buying. New Jersey Cen
Eral recorded an Improvement of 1% Della
ware q Lackawsnna, 11a, and Susquehanna
81 Western preferred, q. Other material
gains are National Starch, per cent: Min
neapolis & st. Louis ~ Cotton Oil and
Leather preferred Ia; Baltimore & Ohio
ia. and Illinois Central, St. Paul & Ic-
luth,s National lead ana Western Union, /
per cent Declines were established of An.
per cent in st. Paul & Omaha preferred
IA In Iowa Central preferred, and / per
cent. in Hooking Coal.
The trading in bonds was more animated,
and higher quotaaons were the rule,
those of the allied lines. The total sales
were $l.737, coo of which $423, 900 were Atch-
1aon seconds; 81, 900 Atchison tours, and
Sl34OW Texas e. Pacific seconds The
grincipai advances are: Baltimore Belt
tirsts and guaranteed, 80 per cent; Louis
vile a Nashville, New Orleans & NJ firsts
and Toledo, Peoria & Western firsts per
cent.
Government bonds were steady. State
bonds were inactive
The following table, prepared by James e.
Berry, Room 49, Board of Trade, shows the
range OF quotations.