The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1896-10-22
STOCKS MORE ACTIVE
RAILROAD SHARES JUMP INTO III
LEAD ON NEW YORK 'CHANGE.
the of Wheat-LOcaI Bus
mess Dull and Light.

At New York yesterday money on call
was easy at 3@7 per cent; last loan, 3;
closing. 3.
Prime mercantile paper, nominally 7q9
per cent
Sterling exchange was steady, with ac-
tual business in bankers bills at A.S3A@
4.s4 for demand and $4.S0A04.S1 for sixty
days; posted rates, $4.S1M4.S219 and $4.S4120
LIS: commercial bills, $3.50.
Bar silver, 65Ac; silver certificates, $3.50
SEC. At London bar silver closed at 30Ad
per ounce.
Total sales of stocks were 223, 1892 shares,
Including the following: Atchison, 400;
American Sugar. 32,90O; Burlington, $4,000;
Chicago Gas Trust receipts, 800; Louis
VILE, 5000; Manhattan Consolidated, $500;
Missouri Pacific, 5000: Reading, 81, 700;
Rhode Island, $500; st. Paul, q. 100; Tennes-
see Coal and Iron. 1000; Union Pacific, s.
way preferred, 300; silver certificates,
$4,000.
The New York stock market yesterday
displayed irregularity on a fairly large ag-
gregate of dealings. The business, as on
Tuesday, was well distributed, with the
railroads commanding their full share OF
exerted important influence on the share
speculation and a reactionary tendency in
the first mentioned, together with ~firnlneSS
in the exchange market and a belief that
the Bank of England rate would be ad-
Vapced tomorrow caused receSSlOnS after
early strength. The latter conclusion was
based on an advance in the open discount
rate In London to 81 per cent. and the
tradition of the bank is to hold its mini
mum discount figure higher than the
street rate. The present figure is 3 per
cent. and it was yarious1y forecasted that
an advance would be made to 35 or 4 per
cent. The obvious inference of the traders
In stocks was that such q step would Sc
riously impede the inflow of gold to this
country. The initial prices were mainly a
fraction above Tuesdays. closing figures
and under heavy buying for both accounts
prices for American securities and reports
of a car famine as a result of the eXtraor-
binary movement of wheat and other
staples stimulated the rise. Sugar was es-
pecially influenced in a rise in foreign beet
sugar, the third successive advance this
week. The stock touched 11A, making an
subsequently made on the unfavorable in
huenceS noted. were most severe in the
high-priced industrials. Sugar dropped 2s
to 1925; Chicago Gas. Ia, and Tobacco 1s
~ influenced by liquidation of speculative
holders. The market was dull at the de-
cline and the railway shares became less
prominent, the grangers yielding about a
point from the best prices. Towards the
close an Intellectual attempt to cover a
short line of Reading caused an advance
OF l1a per cent. in that stock. The general
market. while rather erratic, generally
sympathized with the movement. The clos
ing was steady at slight net changes.
The bond market displayed strength
~throughout but the gains were uniinpor-
which rose 2 per cent. Sales were 81. SIS. 900.
Government bonds We're active and high
err. Transactions, s77,009. Silver certificates
yielded " per cent, but rallied subsequent
~. The sales were $26, 900.
The following table, prepared by l.. w. Louis.
lsoom Il, Board of Trade, shows the range of
quotations.: