The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1896-07-28
LIGHT STOCK BUSINESS
PRICES IRREGULAR AND THE GEN.
ERAL TENDENCY DOWNWARD.
Bankers Making Good Their Promise
to Maintain the Gold Reserve
Local Markets steady.

At New York yesterday money on call
was easy at 2Gz1s per cent: last loan, 2;
closed. 2.
Prime mercantile paper. 6M7 per cent.
Sterling exchange was steady, with ac-
tuai business in bankers bills at H.ssl2n
asa. for demand. and s4.s71za4s74 for six
~ days. Posted rates. A.Ssizq4.Sl2; com-
merciaI bills. s4.s7.
Bar silver. 6s5sc: silver certificates, 69l1s
Gss14c. AT london bar silver closed at
31sd per ounce.
The bankers are making good their prom
ises In the matter of turning in gold to
the treasury n yesterday the reserve was
swelled by the addition of 81 las. 600 in coin.
100000 coming from Boston, $4,000 from
Chicago and s495.O00 from New York. The
aggregate paid in now is ss.115.O00- There
was drawn out $129. 100 in gold coin and 3d.
close of business standing at siO5. O3. sIs.
The Brooklyn banks are beginning 20 ten
der gold to the United States treasury
tender notes "r i TRee Peoples on essf Bank, of or B lrsal-
lyn. yesterday offered to deposit $40. 900 and
the First National Bank and others in that
cry and the Queens County Bank. of Long
Island City, also will give up a proportion
ate amount of their gold for the treasury.
dotai sales or stocks were ll9li5 shares.
ton d Quincy. u.100; Chicago Gas, 400;
Louisville & Nashville, $500: Manhattan,
$500. Rock Island, $500: ST. Paul, %, 500. Sill
Yer certificates, $l05,000.
The story of yesterdays stock specula-
tIon can be briefly summed up. The volume
OF business exceeded by only a few thousand
shares the h~alf-holiday record of Satur-
cay The movement of prices was irregu-
lar. and a heavy tone was evident through
out. The dealings were almost entirely
professional. the traders taking their cue
from the lower London prices. There ap-
peared to be a dearth Of commission orders
0nI h II. II.
foreign-exchange houses had submitted n
pl1n for controlling the exchange situa-
been formally approved by all of the repre-
sentative banking interests. The attitude
OF London as a seller was reported to be
partly due to the unfavOrable reports of
general trade in this country and to the
Increasing gravity OF the rate situation i'm
was maintained by Sugar, both i'm point of
activity and extent of fuctuation. Ii de-
clined IL. to 1os1a. rallied IL, and reacted
In the railroad list st. Paul\occupied the
foremost position in extent of trading. but
moved within a range of about a point and
closed at a net loss of l per cent. Chicago
Gas. on nominal dealings. rose q. reacted
Ia and rallied a fraction New Jersey Cen
trail declined Ia. subsequently rallying "a
per cent The movements in the other
shares were relatively unimportant. There
was no news of consequence aside from
that above noted. The opening was fairly
aAtaA va oA 1lIllC u
Ia per cent. A moderate rally ensued
shortly after the initial sales. Al the re-
covery the trading became very dull. The
only noteworthy changes subsequently,, up
10 midday. were In Chicago Gas. which sold
on Ia per cent. on realizing. and Man
haitian: which reacted to the low point on
revived bear pressure and u~nfavorable gos-
Sip The report of the result of the con-
ference of foreign bankers caused a rally
OF a point or Whereabouts in the more active
shares About 2 O'Clock Sugar touched
104%. and the rangers advanced to near
Saturdays closing figures. In TIE last hou-
realizing sales caused a general reaction.
and the market closed heavy In tone. with
prices fractionally lower than Saturday.
In some Instances the declines reached n
point or more.
Railway bonds were sluggish and weak
The withdrawal of the opposition to the
Oregon Improvement reorganization was
not reflected In any pronounced movement
In the bonds. The sales were 500. 900. The
principal net losses were: Kansas Pacific
Consol trust receipts. SIS; Colorado Midland
nrsts. trust receipts; s.; Tennessee Coal
frsts. Birmingham division, 8: Chicago &
Lake Erie frsts. 2la; Union Elevated hrsts.
2; Texas & Pacific seconds. Ia: San An
tonic & Arkansas Pass, A: Canada Southern
frsts and Northern Pacific collateral trust
skies. Ia. Canada Southern and Northern
Pacific consol fives. Ia; Atchiscn fours. 1Ss.
and Atchison adjustment tours and Corr
dage firsts. 1; Susquehanpa & Western re-
funding ives and general tours. advancing
, per cent. each.
Government bonds were quiet and irregu-
lar. with an easy tendency. The sales were
1000. Silver certificates rose y per cent.
TO Ss4c. on dealings of 100000.
The following table. prepared by L. W. Louis.
Room IL. Board Of Trade. shows the range of
quotations..