The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1896-09-05
STOCKS WERE STRONG
EVIDENCE OF BULLISH MANIPULA
TIoN ON NEW YORK CHANGE.
More European Gold Received and
s1.75O.o 900 Deposited at the Sub
treasury-LOcal Markets.

At New York yesterday money on call
was easier at 305 per cent; last loan, 3;
closed, 3 per cent.
Prime mercantile paper nomInally. 7Q9
per cent.
Sterling exchange steady, with ac-
tual business in bankers Hills at s4.SS12
for demand and s4.82ta@4.82A for sixty days
posted rates, ST. s3GD4. SAY and S4.S5q4.S6; com
mercial bills. s4.8104S11a.
Bar silver 661ac; silver certificates, $50
&C. At London bar silver closed at 5oasd.
per ounce.
Total sales of stocks were .3s, 332 shares, in-
Guiding the following: American sugar r.
COO; Burlington, 24,500; Chicago Cas- o'zoo'
General Electric, $500; Louisville q NASH
vile, q 100; Manhattan, $500; Northwest
5000; Reading, 1900; Rock Island, os'0p o.
Paul. 81. 400; Tennessee Coal and lron i,"oo'
Western Uuion, 503S.
The York stock market yesterday was
uniformly strong and a moderate volume Oh
business was well distributed. Sugar led
the list in point of activity and gave tone to
the general speculation on the evidence Of
manipulation upward by the powerful in
side interests in the property. London was
also a considerable factor, turning to the
bull side after its recent selling. The oper-
atoms from this quarter, as well as the
domestic dealings, had, however, StronS
professional flavor. An encouraging oeVei,
opment also was increasing activity and
pronounced strength in the railw1y-bond
market investment purchases Inc mn
provement in this department is hailed with
great satisfaction, being held by the
traders to foreShadow continued strength IN
the better class Of stocks. The speculation
IS still held In check, however, by the
closeness of the time-money market. Fur
Their arrivals of gold from Europe We're re-
ported, bringing the total amount received
.ip mi
to S. 500 900. OF the 49, 075, 600 received to-day
81, $50, 600 in coin was deposited at the sub
treasury in exchange for legal tenders,
$500, 900 in gold bars was placed in the
say office and the rest was deposited in
various banks. The market appeared to
move upward in fairly buoyant fashion,
despite the continued publication of dis
couraging traffic reports, business disasters
and the apparent contest between the rail
roads in various parts of the country, and
particularly the South and Southwest, to
see how much money can be thrown away
In competition. The opening was strong
and fractionally higher on the Improvement
in London quotations and covering OF
shorts for that account and for local deal
ers The internationals and grangars were
in chief request in the initial trading, with
Sugar and Manhattan also contributing
meaSurably to the dealings. Reading was
dealt in third assessment paid and touched
il at the outset. AS the forenoon pro-
crossed the bull movement assumed greater
spirit and extended to a number of the
low-priced shares and the specialties. The
coalers displayed continued aggressive
rising to ISIS. The market displayed snurts
of activity. ana at intervals large-sized
blocks of stocks changed hands. Eventu-
ally the highest prices in the present move
ment were recorded in number of in
stances, covering of shorts being noted on
an extensive scale. AT the nigh point for
eign offerings appeared. and realizations for
local account also occurred, but were offset
by an easier tendency in exchange aid in
cail-money rates. Around delivery hour
further fractional concessions occurred
but in the late dealings renewed
strength was displayed. The extreme gains
ranged from 1@3 per cent. The market
closed strong at moderate concessions from
the best figures of the day.
Railway and miscellaneous bonds were
strong and active, with a number of the
usually inactive issues figuring in the deal
fngs. The gains were material in most
cases and ranged from / to per cent
Union Pacific sinking fund eights however
declined 21a to 70 on the nonpayment of the
Sept. interest. The sales were 81, 379 00O
Government bonds were higher all around
on transactions CT 100000
=, Ihe following table, prepared by L. w. Louis.
Room IL. Board of Trade, shows the range Of
quotations.