The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1896-08-14
MORE CONFIDENT TONE
STOCK MARKET FAIRLY ACTIVE on
BETTER FINANCIAL OUTLOOK.
Several Weak shares showed Gains
I'm the Final Dea1inGs-Local Mar
kets More Active and steady.

At New York. yesterday. money on call
was easier at 2h14 per cent: last loan. 2z
per cent; closed at 21a per cent.
Prime mercantile paper. 6ha7h per cent.
Sterling exchange was easier. with actual
business in bankers bills at si.S7IA for de-
mand and s4.SsA for sixty days; posted
rates. A.S764sSA and sf.SSQ4S9l2; CONNER
cial bills. $4-S6.
Bar silver, 677sc: silver certificates. CSC.
At London, bar silver closed at 31sd per
ounce.
e Total sales of stocks were 1879 shares,
including: American Tobacco. 1900; Atchi-
son, 400; American Sugar, 10000; Burling-
ton & Quincy. 24.6O0: Chicago Gas. 1860;
Louisville & Nashville. 1,600; Louisville,
New Albany & Chicago preferred, $780,
Manhattan Consolidated. 1880; Rock
Island. 300; St. Paul, $500; Western Union
Telegraph Company. 1880; Wheeling d
Lake Erie. 300; silver certificates. 5000
Yesterdays stock market was fairly
active, and the course of prices reflected a
more confident tone regarding the financial
outlook on the part of both domestic and
foreign dealers. There was very little news
OF a general character. and about the only
surface influences were continued decline
fn the exchange market. a reported easier
tone in money, though without quotable
decline in rates. and the declaration of the
regular quarterly / per cent. dividend by
the Burlington directors. The last men
toned development was regarded as a bull
card OF the first class, as the bears had re-
Gently made the stock a speculative foot
bail on the that the dividend
would be passed. The action taken resulted
accordingly In a great rush to cover and
a decided Improvement in the price of the
stock and in the tone of the general mar
ket. London was a discriminating dealer,
buying Louisville az Nashville and other
stocks and bonds and selling moderately OF
St Paul. A favorable feature of the mar
and miscellaneous bonds and substantial
improvements In prices. Commission house
scale both i'm stocks and bonds. Owing to
the latest developments bearing on the
financial outlook the street drew a favorable
augury from higher prices for American
securities in London and the local opening
was strong. with a notable amount of short
covering discernable. The more substan-
trials. although material Improvements also
occurred in the railway list. Realizations
took the edge of the advances for a brief
space. and the bears made vigorous efforts
in connection with a special drive in Man
haitian, which forced its price GOWN to 1914,
making a new low record on this break.
The bulls soon took hold Of the general list
again. and although at intervals temporary
shading was noted the trend of prices in
the main was upward. Large blocks of the
active stocks changed hands frequently, es-
pecially in Sugar. which rose 4 per cent. to
iJ14- ludiiiidttdH III stlSO dNt llttiy diid
touched 1914. The gains in the other prom
inent shares ranged from 22 to 3A per
cent. Increased activity and decided heav-
mess In Louisville & New Albany. common
and preferred. recently. in connection with
weakness in the general fives has excited
unfavorable comment. Yesterday the COM
mon sagged 10 3 and the preferred to 8.
The advance in the general market Gull
minated In the final half hour on realizing
sales. Manhattan reacted 2a to "A. and the
general list 1d112- The closing was heavy,
will net gains. however, of II3 per cent.
The railway bond market displayed agrees
sive strength on a resumption Of specula-
tive and investment purchases on a large
scale. The more important gains were
scored by the international issues, with the
Atchison and Reading bonds most in favor.
The sales were 81, 900.
Government bonds lacked feature. but
held steady on dealings of $4,000. Silver
certificates touched 6S on purchases of s, 200.
The following table. prepared by l.. w. Louis.
Room II. Board of Trade. shows the range OF
quotations.:
ing. est est. ing.