The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1896-02-21
STOCK LIST HIGHER
BETTER PURCHASING MOVEMENT
STRENGTHENS sHARE PRICES.
Railway and other Bonds More AMI
mated and stronger-Local Mar
kets show -mprovemer

AT New York yesterday money on call
was easy at 31z94 per cent: last loan, 2tk:
closed. 3Q31z.
Prime mercantile paper, 5xa7 per cent.
Sterling exchange steady, with actual busi-
ness in bankers bills at s4s7kd4.S7A for
demand and A.sei4a4.s shs for sixty days;
posted rates. $A.s7@4s7lz and A.ssl4Q4.ss;
commercial bills, $780,.
Bar silver. 67zc; silver certificates, 6S1lc.
AT London bar silver closed at BID per
ounce.
Total sales of. stocks were 1s6. 200 shares.
including the following: American Sugar.
$500; American Tobacco, IL 100; Burlington.
1890: Erie. $500: Louisville & Nashville,
1850; Missouri Pacific, 800; North Ameri-
can Consolidated. $500; Rock Island, 500;
st. Paul. 24.2OO; Southern Railroad preferred,
1900; Union Pacific certificates, 10,l00;
United States Leather preferred. 400; Wa
bash preferred. 400; Wheeling & Lake Erie,
$500.
The stock market displayed an improved
tone yesterday. Business was on an in
creased scale and the dealings were fairly
well distributed. The speculative sentiment,
aside from the purely local factors. was
favorabiy Influenced by renewed foreign
buying of our securities, which was re-
Elected in sharp advances in the interna-
tional stocks. 1t is being recognized that
apprehensions (which bore heavily on our
speculative markets a month or two ago
are now entirely dissipated. The prospect
or financial legislation during this session
of Congress is remote, and in Europe as
we'll as In this country there was a de-
cidedly enlarged estimate from previous
calculations as to the net gold results to
the treasury from the government loan.
If Is n0W figured nv QypprfpuQpI fDanciqrS
that the proceeds of the sale OF the bonds
may bring the reserve up to about $40, 000,-
00. Treasury officials express the opinion
that practically all of the bond payments
viii have been completed by the middle of
next month. This theory, If justified. mar
ger OF disturbance Of the money market.
To-day's speculation undoubtedly received
some impetus from prominent local bank
ing toward the rehabilitation OF the North
ern Pacific company exerted considerable
influence. According to the best authority,
however, current reports purp0rting to fore
cast the details of such reorganization are
largely conjectural. 1t can be stated that
10 plan mas been passed upon definitely
stacles still existing. At the outset gen.
eral fractional improvements in prices &C.
Cured. followed around midday by recess
sions on realizing sales. The upward trend
OF prices was soon resumed, but the gains
were net OF especial Importance until the
last hour, when the purchasing movement
houses reported increased business, cover
ing a number or hitherto neglected shares.
and shorts contributed to a considerable
extent toward the rally. Continued strength
and activity in the government bond mar
ket was again a feature. the new coupon
fours rising to- lis on large transactions.
The gains at the top level in the active list
extended TO "a per cent in Louisville &
Nashville In the inactive shares Erie
common and preferred rose IL and 3 per
cent. respectively. North American ex-
niDfted an unusual ripple OF activity in the
late dealings, rising = per cent on trans
actions OF $500 shares. The management
IS understood to predict that the company
at an early date Will show all debts cleaned
up and a handsome cash surplus in addi-
closing was strong at general fractional net
gains
The railway bond market exhibited ami
nation and strength. the gains being widely
distributed. The Northern Pacific issues
were again conspicuous for activity and i'm
provement. On the other hand, Oregon
Improvement consul fives. trust receipts,
declined 3A per cent. to 25H. with a SUISSE
quent rally OF 2 per. cent. Oregon Naviga-
ton hves, trust receipts, dropped 4s to
92ts. but recovered to "a. The aggregate
sales were $,3s9.000. TIE net gains We're
material in many instances and extended
TO 3 per cent in General Electric debenture
eyes
' The strength of the government bond
market was undated, with the new coupon
tours the feature. The aggregate sales were
$695.000- The market for State issues broad
ened 10 a moderate extent. Purchases of
virginia centuries. Louisiana consol tours
and Tennessee settlement tnrees werelnoted
The total dealings amounted to 500. 900.
The following table, prepared by James r..
Berry, Room is. Board OF Trade, shows the
range or quotations.: