The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1896-11-07
HEAVY TRADE in STOCKS
lively BUYING BY BOTH FOREIGN
LAND LOCAL SPECTATORS.
Disturbing Rumors Quickly Disposed
OF and the Share List Advanced
Local Markets Quiet.

At New York. yesterday. call money was
easy at 312Q5 per cent; last loan, 4; closed
at 3l2G4.
Prime mercantile paper, sal per cent.
Sterling exchange was firm, with actual
business in bankers bills at $4.SiAM4.S5 for
demand and sIs1lsa4s14 for sixty days:
posted rates. A.S2d4.S21a and A.SAl4.S6;
commercial bills. $.SOIa.
Bar silver. 647sc; silver certificates. 654
Q65ze: Mexican dollars. 5OAc. At London
bar silver closed at - 15-16d per ounce.
Total sales Of stocks to-day were iSs,610
shares. including the following: American
Tobacco. 1900; American Sugar. Y. 100;
Burlington & Quincy, II, 600; Chicago Gas,
1890: Chesapeake & Ohio. 300; Erie. 1900;
General Electric, 300; Manhattan, 800;
Missouri Pacific. 4.3oO: Northern Pacific,
$500; Northern Pacific preferred, 5000; New
York. Susluehanna & Western preferred.
900: Reading. $500; Rock Island. l1,5o0;
St. Paul. g. 1900; Tennessee Coal and Iron,
1850: Union Paciic. $500; Western Union
Telegraph. $500: Wheeling x Lake Erie,
300; Southern. 4,700; Southern preferred,
5000; silver certificates, $4,000.
The New York stock market yesterday.
while less sensational than in the forenoon
boom on Wednesday. displayed great
strength and the of business,
which was better distributed, did not fall
far short of that days record. The large
number of hundred-share lots dealt in was
regarded as Indicating a big short inter-
est, and aggressive strength was displayed
i'm the fact of N resistance TO the
rise by some professional bulls without
stocks Heavy covering OF shorts all along
the line was a decided feature. The buoy
ancy CT the market was evidenced in the
lCw-priced as we'll as the gi~lt-edged stocks.
while the usually spectacular SpecialtieS
n industrials also participated in the i'm
p-rovenents- This condition of the specu-
lative temper was due Narlously TO the
dissipation of Yesterdays disturbing ru-
mnrG and tn the frpnupnt successive re-
ports of reviving industrial activity in
nearly all branches of trade. to the COM
garding the hnoncial outlook; the easier
monetary rates and distribution of divi-
dends in certain properties. Speculative
bonds were also heavily dealt in at mate
rial advances i'm. PRICES. Sugar was quite
erratic, and. after a gain of 3As 10 III at
the outset. huctuated sharply between
1871. and 1884,. closing at 1895. The other
industrialS also fluctuated widely with To-
baccO and Chicago Gas the most promi-
nent. The last mentioned stock rose y. per
cent. on the dividend announcement. which
was thought to have been discounted. In
the specialties. New York New Haven az
Hartford and Illinois Steel rose S per cent.
each. causing sympathetic though less eX-
tensive improvements in other shares OF
their class. The more important extreme
gains i'm the regularly active list ranged up
TO %. per cent. In Burlington. Rock Island
and TeRnessee Coal In the iow-priced
shares many usually inactive stocks made
material advances as compared with pre-
vious sales. General Electric loomed into
prominence in the late aiding ana under
heavy purchases rose 3 per cent. London
operated on both sides OF the market, but
was a heavy seller at the high levels. The
Atchison shares were sligt thy depressed on
the announcement of the appointment or
a local receivership over a small section of
the line in Kansas. The Importance of this
development was made clear later, and rail-
lies ensued. The closing was active at the
best figures of the day.
Transactions i'm bonds were on a large
scale. and extensive transactions were
scored in many issues. Large blocks of more
prominent bonds were taken for foreign
account, Il number of the highest grades of
securities figuring in the dealings. In the
bonds OF reorganized companies increased
activity and a broadening market was
noted. The sales were So, Ss 900.
Government bonds moved up slightly on
sales of $50, 500. In State issues $60, 600 Vir-
giria centuries and deferred certificates
were traded III at slight gains Silver GER
tifiSates were in demand and rose y per
cent. on trasactions of $4,000.
The following table. prepared by L. w. Louis.
hoom N. Board OF Trade, shows the range OF
quotations: