The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1896-01-11
STOCKS ARE STRONGER
MORGAN's SYNDICATE FAILS TO
CAUSE A WALL-STREET PANIC.
Email Quantity of Gold Engaged for
Export Bracing Factor-LOcaI
Markets steady.

AZ New York. yesterday. money on call
was easy at 41zd6 per cent; last loan at
8: closed at ).
Prime mercantile paper 6Gf9 per cent.
Sterling exchange was dull and higher,
with actual business in bankers bills at
His9nls9A for demand and $i.S7lzd4.S734 for
sixty days: posted rates. $4.Ssfti.s9 and 1881
Q490yz: commercial bills. $4.s6za
Silver certificates. 67G6714c; bar silver.
ssL.:; Mexican dollars. 5essc. AT London bar
silver was 80 9-16d per ounce.
Total sales of stocks were 157, 40 shares.
including American Sugar, 1850; Atchison,
900: Burlington. 500; Chicago Gas. 1850;
louisville & Nashville. 300: Manhattan
Consolidated, $500; Reading. 1900; Rock ISL
and. 300; st. Paul. 1900; United States
Leather preferred 1880.
The share speculation yesterday on Wall
street was irregular at the opening and the
volume Of business was only moderate. An
easier tendency soon became evident and
general fractional losses were scored. Be
fore the expiration of the first hour, how
ever. the selling pressure was exhausted
and a well-defned covering movement en-
sued under the leadership of the industrials,
which carried prices u a material extent.
Later in the day the anthracite coal stocks
and grangers were strong features. The
last mentioned coup was helped by reports
OF a decidedly increased movement of corn
The stimulating influence on the coal stocks
was an inaccurate rumor of an impending
concerted advance in anthracite coal prices
at Underwater. The cold snap has undoubt-
ediy sharpened the consumptive demand
Tor coal. but this will only exert a tempo
rary influence on the wholesale trade ex-
cept halt is called in the heavy mining
operations. Sugar certificates sold up Il per
I'm sQrfIx snf a
that the German sugar-bounty bill in the
-sReichstag will not pass and partly. on
pretty confident sentiment by the traders
that the old dividend rates will be main
tained This year. The preferred stock rose
IA per cent. The denial by President Hoyt,
of the United States Leather Company,
endeayo~ing TO float a 100000 loan was
followed by advance In the preferred
stock due mainly TO covering purchases.
he general market was buoyed up by the
conviction that the delay incidental to the
programme for floating the new govern
merit loan will not result in any. serious
financial disturbance. The fact that only
u, 2t.UO in gold was engaged for shipment
to-day also had a favorable influence on
the market London was purchaser of
81. Paul and a few other stocks to a mod
crate extent The principal advances other
than those mentioned were in Lake Shore,
"a; Chicago Gas, 2as; Manhattan, Delaware
~ Hudson, Illinois Central and New Jersey
Central. la; Lake Erie IL Western preferred
2; Lackawanna, rs; Tennessee Coal, III;
Louisville K Nashville and Canada South
ern, lSs, and the grangers. %H115 per cent.
Late in the day realizing sales caused a
general reactionary movement, in which
Manhattan and Leather preferred were the
chief sufferers, with losses of about point.
In the less active shares a recession of 3
per cent was made by Metropolitan trac-
ton. In the closing dealings prices again
hardened and the closing firm, with
substantial net advances general
Business in railway mortgages was of
moderate proportions and a strong tone
ruled The Reading issues were the feat
ures OF the trading. and on good buying
gained 1Q2A per cent, the last in the sec
ond incomes. The Atchison and Kansas &
Texas issues were also well supported and
gained sharply. The sales aggregated ST.
55S 900.
, Government bonds ruled strong and high
err. The new tours coupon and new fyes
coupon sold up Ia and per cent, respect
lively, on purchases OF $4,000 each. In State
securities $4,000 Virginia centuries changed
hands at slight fiuctuaton in price.
The following table. prepared by James Z.
Berry. Room It, Board OF Trade, shows the
range of quotations.