The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1896-11-03
CALL LOANS STRINGENT
MONEY RANGED FROM TO 40 PER
CENT. ON NEW YORK CHANGE.
Stock Market Active and Strength
PronOunced-LocnI Markets at
Last Weeks Quotations.

At New York yesterday money on call
was stringent at 6d40 per cent. and 1sa1z
per cent. and interest for two days; last
lean. Y per cent. and interest; closed. Of
fered at Il per cent. and interest
Prime mercantile paper nominally 7q1O
per cent.
Sterling exchange was firm, with actual
business in bankers bills at ASq4.S6 for
demand and at s4.s2a4.s3 for sixty days;
posted rates, si2d4.S2la and $4S012q4.S6;
commercial bills. s4.SO12.
Bar silver 65c: silver certificates, 65d651sc;
Mexican dollars. 5O1sc. At London bar sill
yer closed at god per ounce.
Total sales of stocks were 2S2, $50 shares,
including the following: American Tobac-
CO, 400; Sugar. 1900; Burlington & Qain-
cy, 10000: Chicago Cas-. $500; Chesa-
peake & Ohio. $500; General Electric. $500;
Louisville & Nashville. 1900; Manhattan
Consolidated $500; Missouri Pacific, 1900;
Reading, % 900; st. Paul, $500; Tennessee
Coal, 400; Union Pacific, 104O0; Wabash,
$500; Western Union, 400: Wheeling &
Lake Erie, $500: Southern railway, 1900;
Southern railway preferred, 400; silver
certificates, $4,000.
The New York stock market yesterday
exhibited pronounced strength and an I'M
usually broad distribution of a modest vol
ume of business. The abnormal conditions
confronting the speculative and investment
community were responsible for indiffer-
ence displayed to exceptional stringency liz
money rates. The same consideration COM
PEELED the cleaning up Of short contracts
that in some stocks had been long out
standing. In the face of the rate for call
funds ranging up to Il per cent. with in
terest a day and y per cent. and interest
on loans over election day, together with
higher actual and posted quotations for
foreign exchange stocks were buOyant and
scored extreme advances of 143 per cent
in the regular shares and 6l2 per cent. in
Bay State Gas. The strength in the last
mentioned was due to the deal harmonic
ing all of the recently conflicting interests
in the property and vacating the receiver
ship. The stock left off IL per cent. below
the highest on realizing A feature OF the
day was the execution of numerous sales of
stocks for cash. The grangerS and an
thracite coalers scored the greatest i'm
provements in the railways, rising 2G3 per
cent. and the maximum gain noted was in
the induStrials. recorded in Sugar, which
also led the market in point of activity.
Other conspicuously strong stocks were
Chicago Gas and American Tobacco. The
strength OF the share speculation extended
10 the railroad bond market, which was
unusually active and broad at material
advances. In government bonds an ex-
IRENE advance OF per cent. was recorded
in the new tours, registered, which is an
exceptionally wide fiuctuation in that issue.
The buying was attributed to investment
account. To return TO the stock market
considerable interest was attached to heavy
dealings in the lOw-prfced shares. including
Union Pacific. Tennessee Coal. Pacific Mail
and Laclede Gas. In the inactive special
ties Illinois Steel rose Az per cent. to 5024.
Silver certificates were dealt in at conces-
sions from previous sales, closing at 65, as
against 65i2. the final sale on Saturday.
The bond market developed decided
strength as the day progressed and closed
buoyant. with a heavy demand for the
speculative issues. which recorded net i'm
provements OF 1N2 per cent. The sales
were l,512,OOO. Government bonds displayed
buoyancy. rising 1G2 per cent. the ex-
IRENE gain in the new tours, registered.
The sales were $4,000.
Silver certificates were active and de-
clined &c to 6Jc on sales of So, 900.
The following table. prepared by l.. W. Louis
Room II. Board OF Trade. shows the range Of
quotations: