The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1896-02-25
SILYER'S HIGH MARK
STRONG LONDON DEMAND SENDS UP
THE PRICE ON THIS SIDE.
Better Quotations Have a Good Eject
ON stock and Bond Markets-LOcal
business More satisfactory.


was easy at 3a4 per cent; last loan,
per cent: closed at 31k6f4 per cent.
Prime mercantile paper, SAT per cent.
Sterling exchange was easy. with actual
business in bankers bills at s4-S7l4q4s71z
for demand and 81 $50. S6lz for sixty days;
posted rates. $4.S7d4S7ia and $4.SS1zq4S9;
commercial bills. s4siz.
Silver certificates. 6sA@69s4; bar silver.
6S7sc. At London bar silver was 31ssd per
ounce. On the New York Stock Exchange
yesterday silver certificates advanced to
20 on transactions OF $4,000 The highest
previous price within the past few months
was 691z. on Oct. 10, 1895. Authorities on
silver say that this is legitimate and in
no sense due to speculation. Exchange on
India at London is now at the highest point
after a steady advancement during the past
thirty days The largely decreased produc-
ton OF the white metal has naturally de-
pleted the supplies on hand. while the low
price tended to increase the demand for
use in the arts. London is now large bid
der for silver in this market, but finds
the metal scarce. Large sales of silver
were reported by bullion brokers, one
transaction being the SAFE OF 10000 Mexican
dollars TO London. One of the Oldest bull
lion houses on the street stated this after
noon that heavy transactions for thirty,
sixty and ninety days were made to-day,
and that large future transactions have
been freely made during the last three
weeks. the business in that period being
the heaviest noted by the firm referred to
In its existence.
The total sales of stocks were 22i, 719
shares. including: American Tobacco, 1890;
Atchison, 1850; American Sugar, Is, 700;
Burlington, 8, 100; Chicago Gas, IL. 800: Dis
filling. 400: General Electric, 5000; Louis
vile & Nashville. q 100; North American.
Tennessee Coal and Iron. 3. 100; Union Pa
cific, 100; Wabash preferred, 1890; Wheel
ing & Lake Erie. $500; Southern preferred.
The stock market started in after the
double holiday with a cheerful sentiment
ruling. Continued favorable interest in
American securities was displayed by for
eign dealers, and an encouraging feature
was the report OF fairly large business
by commission houses The steadily in
creasing gold reserve of the treasury. ease
In money. the evidence OF the desire of
capitalists to employ idle money. as re-
hected In the strength and activity of the
railway bond market and substantial inn
orovements in railroad earnings made UP
part OF the bull programme. An advance
In the price Of silver bullion certificates
10 the highest point since October last also
quickened the sentiment in favor of
higher prices The statement of the Lake
shore for the quarter ending Dec. 81, show
Ing a decrease in surplus OF S17S52S failed
or eject. as the stock, In common with
DISPLAYED consider
able strength. ST. Paul & Omaha was
stimulated by the publication of the report
Tor the calendar year. exhibiting decrease
in operating expenses of S109,532 and an in
crease in surplus. after dividend on the
preferred stock, of $500. 236. Baltimore a
Ohio was the weak feature on unfavorabIe
predictions by the traders as 10 the re-
suit Of the expert Investigation now going
on regarding the financial outlook OF the
property. 1t is claimed that the result of
the examination will be to compel the
heroic
ferred.
The railway shares. as group. surpassed
the industrfals in point of activity. although
IN this respect Sugar came next to St. Paul
winch led the entire market in extent OF
trading: The greatest strength was dis
K Rio G-ande and Lake Shore rose 2I5
Louisville e. Nashville 17s, Atchison pre.
ferred lSs and other leading shares TO less
extent Sugar held first place among the
INDUSTRIES and on renewed pool manipula-
ton gained Ia per cent. TO 117l5. General
Electric improved IL and Tobacco Chica go
Gas and Distiiling nearly a point. The IN
ward movement was checked at intervals
by .realizations. but the offerings were
and strong, with substantial gains in many
shares as result of the days trading
The bond market exhibited increased ac-
tivity and strength. a feature of this mar
ket being the execution of liberal invest
ment and speculative purchases for for
eign account. There was also an active
local demand from capitalists and financial
institutions The aggregate sales were
81. s92C COO The principal net gains were:
Tennessee Coal firsts, Birmingham division.
A: Northern Pacific seconds. .: Northern Pa
cific consolidated fves, I4: Northern pa
cific trust receipts, ~; Virginia Midland
generals. ?: Virginia Midland stamped. 3:
Atchison fours. IL; Atchison trust receipts
IA; Atchison adjustment, 1ss, and Atchi-
son seconds. rs per cent.
Trading in government issues was COM
paratively quiet, but values were fairy
well sustained on sales aggregating 1882 eco
State mortgages were neglected. only a
sale of 5000 Virginia deferred skies.
stamped, at Ga. being recorded.
Silver certificates advanced sharply, $4,000
being dealt in at 6shM10. in response TO a
higher London quotation and the resulting
improved commercial price here. The buoy
ancy OF the white metal was chiefly due 10
demand In London for shipment 20 India
The supply has been depleted by the de-
creased production and low prices which
on the other hand, has increased the con-
sumption demand for in the arts
The following table. prepared by James f
Berry. Room 16. Board Of Trade. shows The
range or quotations:
Open High Low Clos
ing. est. est. ing.
Adams Express ... 1.s
Alton < Terre Haute.. -. -. - IS
American TohacSo Co. sla. S2ss sii5 Sz
Atchison ..-.--..- ia 17s4 17iz I7s,
Canada Pacific $500. 80. 57s
Canada Southern ... II 5l5 81 si@s
Central Pacific ......... IS III
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