The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1896-09-30
THE LOW PRICED SHARES
LARGELY SOUGHT AFTER ON NEW
YORK CHANGE YESTERDAY.
Men Connected with the Bull Clique
Found to BE UnIOadinG-LOcaI Mar
kets Quiet and Steady.

At New York, yesterday. money on call
was firmer at 4d41a per cent; last loan, A.
closed at per cent
Prime mercantile paper, 612M112 per cent.
Sterling exchange was firm with actual
business in bankers bills at $4S44 44S41a
for demand and &S1a4@4S2 for sixty days
commercial bills. $4,000.
? Bar silver, 655sc; silver certificates. 66G
66Ac. At London bar silver closed at
30 5-16d per ounce.
Total sales of stocks were 239, Pa shares
including the following: American Tobac-
CO, 11,100; Atchison, $500: American Sugar
1890; Burlington & Quincy, Sc, 900; Louis
vile & Nashville, 49, 400: Manhattan, $500
Reading, 43. 400; Rock Island, 7,200 St. Paul
80, COG; Tennessee Coal and Iron 3,400
Wheeling & Lake Erie, 400; Southern pre-
ferred 1900
es.erday's stock market indicated a
change in the character of the speculation.
Operators who had figured prominently in
the original bull movement decided at the
close of last week that a reaction in prices
was impending and sold out their holdings.
Efforts begun Monday to bring about de-
cline and create a new short interest were
continued yesterday in the early dealings.
The manipulators discovered, however,
that stocks were not easily disodged and
promptly reversed their positions. The reg
uiation bears. however, were not as sensi
tive to the general temper and put out Il
line of new shorts. The market was fairly
active and the distribution of the tranSac
tons was better than for some time past.
The opening was lower under the influence
of reaiizations and offerings for the foreign
account. The cause for the change of front
on the part of London dealers was not gen.
orally known until the last hour of bust
ness, when it TRANSFERRED that political
rumors had unsettled the bourses The
greatest heaviness. The reactionary move
rnent was facilitated by firmer market
and short bills diverging further from the
natural gold import point. This condition
ket for commercial paper, which increases
the demand for exchange. The October re-
mittance requirements are also a case in
point while the advances in the prices of
wheat and cotton restrict the movement of
commercial bills. The low level induced
heavy purchases for both accounts, "a ma
being noted. The low-priced shares were III
especial favor. and large blocks of Read
ing changed hands at substantial advances.
The other coalers improved sympathetica-
1y. The publication of the Burlington
statement gave a decided impetus to the
general upward movement. as the exhibit
was decidedly less discouragng than had
been expected The activity subsidized to a
considerable extent in the afternoon deal
ings, but the upward tendency was still in
evidence The high-priced stocks were in
good demand. The advance from the low
point averaged / per cent. therea bouts
in the principal shares. with partial re-
action at the close. The market left off
steady.
The bond market displayed aggressive
strength on Investments and speculative
dealings, with the greater activity in the
Reading issues. The first incomes gained
net, IA: seconds, liz, and thirds, 1as per
cent. The sales were 81 ,661, 900.
Government bonds ruled firm on dealings
of $75, 000 Silver certificates were a shade
higher at 6612 in dealings of ST., 900.