The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1896-09-25
REVIVING CONFIDENCE
SIGNS OF BETTER TIMES SHOWN ny
NEW YORK CHANGE BUSINESS.
Evidence of manipulation on Part of
Strong Bull CIique-LOcaI Trade
More Satisfactory.

At New York yesterday money on call
was steady at 405 per cent; last loan. AZ;
closed, 4G041a per cent.
Prime mercantile paper. 70l9 per cent.
Sterling exchange was nrmer, with actual
business III bankers bills at s4.S4 for de-
mand and s4s112@4.Sla4 for for sixty days;
posted rates, $4S2M4S3 and $iSi12G4.S51a;
commercial bills, $3.50.
Bar silver. 659sc; silver certificates, 651a@
661ac. AT London bar SILVER closed at
20 5-16d per ounce.
Total sales of stocks were 1873, 1902 shares
including the following: American Tobacco,
200; Burlington & Quincy, $4,000; American
Sugar, 4S.S00; Chicago Gas, 3, 400; Louisville
& Nashville, $500: Manhattan II, 800; Rock
Island. $500; Reading, 26,sO0; st. Paul, p 300;
Tennessee Coal and Iron, 800; Southern
Railroad preferred $500.
Reviving confidence in the general bust
ness outlook. reflected in the starting up
OF industrial plants in various parts of the
country, growing ease in the money mar
ket and in mercantile discounts, continue
to form the text of the advocates of high
er prices in Wall street. There is evidence
OF awakening interest by outsiders, as indi-
Gated by increasing commission orders for
stocks and bonds at advancing prices and
the bears, who are fighting the advance
find very little stock pressing a rule.
There is also plainly discernibe ma nipula-
ton by powerful professional operators
Business was somewhat less active yester-
day, and there was again Il preponderance
OF trading in a few leading snares, but the
tone was confident throughout, and this
TACT induced fair-sized covering by the
shorts. The bears in Manhattan, however
do not appear to have attempted seriously
to take in their contracts the short side.
In Sugar a contest for control seems to be
going on, but keen observers on the market
iyzlt
stock was better than the selling. The at
tiIude of the insiders is a little uncertain
the fourth and final assessment caused fair
~ extensive selling. but there also
newed buying, attributed to the reorganz-
ing interests and their associates parity
based on the anticipated improvement in
the anthracite coal trade. The market
proved superior to several influences that
would ordinarily have exerted d depressing
effect, including an advance in the Bank
of England RATE of discount from 212 to
crease of over $1,000 in St. Paul earnings
for the third week OF September and a
stiffening in exchange rates. These consid
erations appeared. however. to be out
weighed in the speculation by the easier
monetary conditions. The upward tendency
of prices was checked at intervals by reali-
cations, but at the reactions fresh support
was given. The more important extreme
q; Sugar and CHICAGO Gas liz: Burlington
rs, and St Paul. Louisville & Nashville
General Electric. Tennessee Coal and
i
TO Is but reacted to Is. and Sugar retained
but q per cent. of the early gain. The
usually inactive stocks We're conspicuous
for wide changes in some instances. New
England jumped to 40 after prolonged mac
tivity- Metropolitan Traction rose 234 on
the dividend announcement, and Minnesota
Iron. Lead preferred and Michigan Central
gained per cent each The closing was
strong, at net gains of 1G2 per cent in the
leading shares.
The bond market displayed continued
strength on the Improvement in the gem
eral situation Investment purchases were
noted in q number of issues. and the mar
ket displayed broadening tendency
marked gains being scored in some issues
Concessions occurred in some of the inactive
liens. and Reading mortgages ruled lower
S1.19a000. The principal advances included
Western Pacific firsts. 2: Peoria Decatur &
Evansville firsts, 112; Southern fives 49,
locking Valley tives, Ia, and Ann Arbor
frsts. Denver & Rio Grande Tours Fort
Worth & Denver City frsts, Iron Mountain
seconds and Kansas & Texas seconds per
cent.
Government bonds lacked feature but
We're firm on sales of $4,000. Silver certif-
Gates eased off to sc. sales of SIS, 900
In State bonds Virginia centuries brought
81 for $1,000.
The following table. prepared by l.. w. Louis,
Room l3, Board of Trade. shows the range of
Quotatio