The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1896-04-24
ERRATIC ON CHANGE
Activity and strength in the Bond
Markst-LocaI Trade Fairly Active
and Steady.

At New York yesterday money on call was
easy at 2lza3 per cent; last loan, 2i9: closed
al 21z per cent.
Prime mercantile paper. f1zas per cent.
Sterling exchange steady with actual BUSH
ness In bankers bills at A.Ss12n4.SSA for
demand and ~s4.s71za4.s7z for sixty days;
posted rates. si.sSQ4.ssi1 and $4.ssQ4.s91s;
commercial bills. $Lse1zn4s7.
Silver certificates. 6lAQ6s4c: bar silver,
SIC. AT London bar silver closed at BID per
ounce.
Total sales OF stocks were 2s0.69S shares.
including: American Tobacco $4,000; Atchi-
sen. 4.S00: American Sugar. 1900; Burling-
ton. Y, eo: Chicago Gas, 1850: Chesapeake &
Ohio. 800; Whisky, 2. 200; Louisville, $500;
Missouri Pacific. 1s, 400: Northwest. 400;
Northern Pacific. TOO; Reading. $500; Rock
Island. 900: St. Paul.. 1890: Union Pacific,
$500; Western Union, 400; Wheeling &
Lake Erie. $500.
Further increase in Stock Exchange busi-
ness occurred to-day and the course Of prices
was irregular. Although the total of trans
actions was larger than for some time past
the was s~pasmodic. The trading
element played on both sides Of the market.
Buying by commission houses was noted in
some shares and particularly in the granger
group. resulting in comparative activity in
Burlington and st. Paul. Missouri Pacific
appeared to be manipulated by powerful in
side interests. The Industrial shares, how
ever. hold first place as a group and record
ed the most active fluctuations in prices.
AT the outset the market was unfavorab.y
affected by the failure of London to respond
20 the Improvement that had characterized
the late dealings on this side Wednesday,.
The street. however. regarding the depress-
Ing influence abroad Oh the revived Ven
ezuelan discussion as exaggerated, paid but
slight attention 10 the lower London quota
tions for Americans. An early selling move
ment was directed against the industrials,
with Sugar and Tobacco being subjected to
special pressure. The heaviness OF these
shares caused fractional sympathetic recess
slons In the railway list. but after midday
newed vigor and substantial advances oc-
CURED. Leather preferred was exceptionally
strong and gained 2H per cent. on buying
py brokers close TO the management. The
Cordage shares were worked up % compare
lively heavy trading. In the afternoon the
1ndustriais and the grangers were the most
prominent. Trading occurred In the trust
receipts for Northern Pacific common and
preferred stocks at 1%qllz and l2u12as per
heavily traded in and advanced sharply on
the rapid progress OF the reorganization
proceedings. A strengthening influence on
the general market was exerttd by e report
that the Republican senatorial caucus at
Washington had decided to work for an
early adjournment. Another encouraging
q Wv III oCllt-
official reports of improved crop prospects.
In the final hour rumors were current that
the injunction on the scrip dividend on To-
bacco was 70 be served next Monday. As a
matter of fact, as stated IN these dispatches,
the adjourned hearing or the application for
an. Injunction took place on the day men,
toned. All the same the report inspired a
determined raid against the stock, which
broke AZ per cent. under heavy sales. Other
leading industrials AM some of the ailway
list were depressed sympathetically. Leath-
sr preferred lost rs per cent. and General
Electric Ia per cent. The market closed
weak at general net fractional concessions.
In the bond market Northern Pacific is
sues displayed continued strength and ac-
tivity. Some OF the usually inactive mort
cages were also conspicuous for improve
ment. The ST. Louis & San Francisco issues
and Cordage frsts were cases in point.
Further foreign buying OF bonds was report
ed. including some of the high class issues.
The sales were g. 10. 600.
Government bonds were neglected, but
ruled firm The sales were $500.
The following table, prepared by L.. W.
Louis. Room IL. Board of Trade, shows the
range OF quotations: