The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1896-02-01
STRONG UNDERGONE
NOTED THROUGHOUT THE LIST on
STOCK EXCHANGE YESTERDAY.
Buying for Foreign Account Gave
Stimulating Efect-LocaI business
Suffers from the Weather.

At New York yesterday money on call
was easy at 2d2h per cent; last loan, 212;
closed, 2q2ls per cent.
Prime mercantile paper, cas- per cent.
Sterling exchange firm. with actual bust
ness in bankers bills at sISSizQ4.SS3. for
demand and $4S7A@4.s7la for sixty days;
posted rates, sLsSf14SS1a and S4.s9lzQi.90;
commercial bills, &s6A.
Silver certificates. 67A@67%c; bar silver.
671sc. AT London bar silver was 30%ld per
ounce.
Total sales OF stocks were 227, 456 shares.
including the following: American Sugar.
N.7OO; American Tobacco. $3.50; Atchison.
400; General Electric, $500; Louisville &
Nashville. 1900; Manhattan, 1000; Missouri
Pacific. 500: New Jersey Central. $500:
Reading, $500; Rock Island, 10000; st.
Parl. 2l,600; Southern Railroad, 500;
Southern Pacific preferred. 400; Tennessee
Coal and Iron. 500; Union Pacific. 4.2cO;
Wheeling & Lake Erie, S.7O0.
The news of the agreement made Thurs
day by the anthracite coal presidents and
the thorough appreciation of the important
results likely TO follow to both of the COM
panies interested and to the general public
was reflected in unusual interest in the
stocks OF the coaler group yesterday. In
1ott the cltuStn uiSpidytu NdS NHt AOht-
mating factor of the market and stiffened
the entire list. Irregularity marked the
course of the speculation, but under the
influence noted a strong undertone pre-
vailed. as a rule. Foreign buying lent
stimulus to the dealings and good judges
detected signs that the speculation was
in powerful and experienced hands. The
general market opened firm with the coal
ers overshadowng the other stocks in ami
ava
cuted I'm them, sending New Jersey Central
mp 3zs. Reading, 12s; SusIuehGnna * West
ern preferred almost per cent. ana the
other coaleTs important fractions. The
buying movement was soon succ' eded by
rush 10 take profits and general decline
ensued. The reaction was accelerated bv
determined drive against Sugar on rumors
of probable unfavorable legislation regard
ing the existing differential. The stock fell
ia per cent. New Jersey Central yielded
to the extent Of IL per cent. and other
prominent shares about a point. Around
midday the bull lever was turned. on the
appearance of the foreign buying orders
and a general rally was inaugurated. in
which the top figures of the day were re-
corded. Manhattan was marked up per
were free buyers of General Electric. which
gained ga, causing a revival of the rumors
OF deal between that company and the
Westinghouse people. A squirt in lead was.
based on a story that the dividend on the
common stock, to be considered about the
midile OF February, would be at an in
quarter was l per cent. No confirmation
OF the rumofs was obtained The improve
ments in the other shares were also not
able, particularly in Southern preferred.
Tennessee Coal, Lake Shore, Sugar, Jer-
sey Central and the grangers. An advance
in call money TO per cent. was not I'M
favorably reflected in prices. owing to the
appreciation of it's probable temporary
duration. The higher rates were caused by
the preparations making by the banks for
business for the new government bonds.
The new issue was offered on the street at
ia, seller thirty, fiat. The publication of
the annual report of the Lackawanna for
the year ending Dec. 81 failed to exert
any influence on the stock. The market
closed active and strong at the best prices
in New Jersey Central Electric. rs, and
with material gains general, including 3is
Southern preferred. Ia per cent.
: Dealings in bonds were on a large scale,
aggregating $2,Z75,000. Reading issues were
again the main feature and the total bust
ness in them footed up $1.9o6.O0c The mar
ket lacked the decided tone apparent yes
terday, the movement of prices being ir-
regular in the late operations there was
an upward movement which was especially
marked in Readings.
The government bond market was de-
pressed and sales were noted for $1,000.
The only trade action in State securities
was OF 81 600 Virginia securities.
The following table. prepared by James r.
Berry. Room 16. Board Of Trade. shows the
range Of quotations: