The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1896-09-09
DEALINGS in STOCKS
NEW YORK MARKET FAIRLY &C
TIVE, BUT PRICES IRREGULAR.
Leading Shares Manipulated by Bulls
and Advances ScOred-LocaI
Grain Market LifeIess.

AT New York yesterday money on cal
was firm at sac per cent, the last loan be-
Ing made at 5, closing offered at s.
Prime mercantile paper nominaily, 7as
per cent.
Sterling exchange steady with actual
business in bankers bills at s4s4l4
for demand and s4.S21kQ4. s2s4 for sixty
days. Posted rates. s4. S3614. S415 and $3.50
- So Commercial bills. s4.s2. Bar silver
6614c.
Silver certificates 46ssa47c At London
bar silver closed at 309sd per ounce.
The New York Evening Post says: up to
o'clock this (Monday) afternoon S64 600 in
gold was deposited in the United States
subtreasury in exchange for egal-tender
notes. Some of the assay office checks that
were issued last week in payment for gold
bullion have been exchanged for green
backs, so that the gold they represented
becomes part OF tie treasury gold reserve.
The steamship La Normandie, which ar
rived from Europe Saturday. brought
81 773,000 in gold. The Bank of England
it was reported by telegraph sold another
round amount of gold Monday morning for
shipment to this country, and that fact.
together with the knowledge of the large
amount of gold now on it's way here and
the pressure of commercial bills, combined
to make the sterling exchange market easv
and keep the rates down.
The total sales of stocks at New York
yesterday were 13S, $40 shares, including the
following: American Tobacco. 1900
american Sugar, $4,000; Burlington $500
Ghicago Gas, :, 100; General Electric, 1900
louisville, $780, Manhattan, q, 100; Read
Ing, 500; Rock Island, 7,l0O St Paul IS :
300; Tennessee Coal and Iron, $500; Western
The stock market was moderately active
ana tne course OF prices irregular. There
was clear evidence of manipulation by OPP
VI thn
in control in the forenoon and the bulls in
the afternoon dealings. The only news
iaration of the regular quarterly dividend
by the Manhattan directors, the recommen-
disbursement on Western Union and the
st Paul annual report. The arrival of gold
from Europe has now begun to be regarded
as matter of course and also the deposits
of fairly considerable amounts of the
money in the subtreasury. London prices
came lower as a result of bear strategy
it was claimed, and the local opening' IN
der this influence and realizing, was de-
cidedly weak, with the industriais and spe-
clines extended to i1a Der cent. At the de-
cl1nes the market become duh. there being
a noticeable absence of pressure of long
stock, and this fact soon caused frmer
tone and fractional recoveries occurred.
The bears renewed their pressure on the
grangerS and specialties, and forced Man
haitian down 21a per cent to SOb on ru-
mors of an impending reduction in the divi-
dend rate to a DER cent basis On the
ofncial announcement of the regular ~
per cent. distribution the stock advanced
to 81. London was seller OF st. Paul and
Louisville & Nashville. and the railway
shares generally were rather heavy After
o'clock the market turned on the execu-
ton of buying orders for both accounts
partly Influenced by the publication of the
pamphlet report of annual operations of
the st. Paul, showing even more favorably
than had been anticipated. The market on
the uptack displayed more animation than
had characterized the reaction, and the
traders We're active in bidding up prices,
especially in Sugar. The stock mentioned
rallied and advanced 3as, to 1854. Burling-
ton rose "a; Manhattan 31a; Rock Island
and Tennessee Coal, 2; Western Union, 21s:
General Electric. 11s and other material
but less important gains were scored. The
industrials contributed largely to the ag-
gregate sales and the variations in some of
those stocks We're noteworthy, including
Cotton Oil preferred, which advanced from
10 to 1912 or an exchange of 100 shares.
The closing was at the top level at gains
of point or thereabout in many shares.
Bonds rose sharply in sympathy with the
Improvement in stock values. The gains,
however, were most pronounced in the less
active issues, with st. Louis Southwestern
firsts figuring for ga per cent. The sales
were $780, 900.
Governments were dull, but strong on
purchases of $1,000. State bonds were dealt
In to the extent of $21,500 at slight changes.
The following table, prepared by L. w. Louis
Room 10. Board OF Trade, shows the range of
quotations: