The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1896-01-09
BETTER PRICES PAID
SPECTATORS ON 'CHANGE THROW
OFF FOREIGN INFLUENCE.
Call Loans Easy Again, Closing at :
Per Cent.-Local Markets Show
improvements.

At New York yesterday money on call was
easy at 3d5 per cent; last loan, 8; closed, 8.
Prime mercantile paper. 4a9 per cent.
Sterling exchange was steady, with &C
tual business in bankers bills at $4-s9G4S9A
for demand and si.S71zq4.s7s4 for sixty days;
posted rates. s4.sSd4.s9 and si.s0q4.9O12 COM
mercial bills. $4.S61e.
Bar silver, 667sc: silver certificates, 67Ad
67lsc; Mexican dollars, 5224c. AT London bar
silver was 3ossd per ounce.
Total sales of stocks were 1880 shares,
including the following: American Sugar,
2S 500; American Tobacco, $500; Atchison,
800; Burlington, 500; Chicago Gas, 800;
General Electric. $500; L. & N. 5000; Man.
haitian consolidated. $500; Missouri Pacific,
$500; Reading. $500: Rock Island. $500; st.
Paul. 81 800: Southern railroad. 400; South
ern railroad preferred. $500; Tennessee Coal
and Iron. 400: United States Leather pre-
ferred, 1900; Western Union, 200.
The stock market yesterday cut loose
from the foreign influences that have re-
Gently affected it, The speculation was de-
cidedly less feverish than heretofore, and
the volume of business showed diminished
activity by the bear leaders. Previous to the
opening London cables reported increased
tension I'm European political circles and
fractional declines in American securities
at that center. Nevertheless, home prices
moved sharply upward during the first hour
of business. with the appreciation most
marked in the grangers, louisville & Nash
Vile and the high-priced Industrial shares.
The market was strengthened by the re-
ported deposit OF $500,0O0 in gold in exchange
Tor greenbacks by national bank. 1t de-
veloped later that the gold was simply de-
posted for examination, and would not fig
ure in the treasury reserve. The absence
OF applications for clearinghouse loan GER
aifcates by the banks. and an easy condi-
ton or the call money market, also had
favorable effect The market received a set
back after IL o'clock selling for both ac-
counts. but the bulls soon reasserted them
selves, and the upward movement was re-
sumed. around ! o'clock, under the stimulus
OF sharp advances in the anthracite coalers.
The Improvement in this group was in
spired by the formal announcement that the
Delaware * Hudson Canal Company would
maintain the 1-per-cent annual dividend
rate on the stock IN the current year. 1t is
officially stated that the company earned in
1879 about 612 per cent, aud that the de-
fciency Will be made up out OF surplus earn
ings. The stock rose an extreme 3 per cent.
II had been alleged that the company re-
1erred 10, In common with the other coal
ers, would. on account OF the poor condition
or the anthracite industry last year, fall
severely below the normal dividend amount
1t IS understood that the largely increased
earnings OF the railroad almost counterbal-
anced the falling of in revenue in the coal
department. In ordinary years the results
would be reversed. Sugar was manipulated
upwards. partly in connection with a resolu-
ton OF the stockholders at the annual meet
Ing to-day, ratifying the policy of the man.
asement. Aside from the coaers, the inn
provements In the active shares ranged from
] TO per cent. The grangers were bought
freely for local and St Paul and other
shares for foreign account on reports of a
freer movement OF corn. A feature of the
market lending strength was a revived
sharp inquiry for investment bonds No gold
was engaged for export on Saturday but
S-D.OOs in coin vas withdrawn. presumably
Tor canadian account. The total amount of
gold deposited at the subtreasury was 500
600. none OF which. as far as can be learned
was Ter treasury reserve account In the
late dealings there a sharp reaction in
which liquidation in Manhattan caused a
drop OF -. per cent, TO 80. The other losses
extended 10 1i5 per cent in Lackawanna
The close was heavy, but at general net ad-
vances. ~
The railway bond market showed decided
strength throughout the day, liberal gains
being noted In many issues. The Reading
Classes Were the leaders In activity and inn.
provenent. figuring for SI.075,O00 out of a
tosai OF 2lS0.000 for the day Southern
nves improved l per cent. but suhsequent-
~ reacted liz on foreign offerings. The gains
extended To Pa per cent. in Chesapeake q
Ohio fOur-and-a-halfs
Government bonds were firm. State bonds
were duh.
Tie following table. prepared BY James +
Berry. Room 10. Board OF Trade shows the
range OF quotations: