The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1896-02-18
FOR HOME TRADERS
NEW YORK STOCK MARKET NOT IN
vITING TO FOREIGN SPECTATORS
Sugar Trust and st. Paul Shares Lead
I'm Activfty-LocaI Markets show
Few Changes.

At New York yesterday money on call
was easy at 404h per cent; last loan, 4;
closed, T.
Prime mercantile paper, 51zQ7 per cent.
Sterling exchange firm. with actual bust
ness in bankers bills at A.s7A@4.S for de-
mand and s~4.sslk@4.SA for sixty days:
posted rates, s4-s7 and s4.sska+ss; commer-
cial bills. A.S4.
Silver certificates. s7Ade7sc; at London
bar silver was sO%d per ounce.
Total sales of stocks to-day were Ii. 99e
shares, including the following: American
Sugar. $500; American Tobacco. Is, 400; Bur-
lington. 800; Chicago Gas. 6.4cO; L. & N.
700; Manhattan. 10.6O0: New Jersey Central,
$500; Pacific Mail. 5000. Reading. $500; Rock
Island. 400; st. Paul, Is, 400; Southern. 900:
Tennessee Coal and Iron, 5000; United
States Leather preferred. 1920; Wheeling
& Lake Erie, 1000.
Speculation on the Stock Exchange to-day
was mainly confined to the home account,
owing TO the fact that the London stock
market was so narrow as to afford little op-
portunity for arbitrage operations here.
There were, however. some small purchases
of ST. Paul and a few sales of Louisville &
Nashville, Wabash preferred and Ontario &
Western. The local trading was in lighter
volume than OF late. but the dealings were
characterized by a decidedly firm tone and
the trend of figures was upward. A factor
for strength was the lack of a pressure
10 sell In any one OF the pools, except that
during the morning there was some pro-
fessional selling or Manhattan, resulting
In a break in that stock of pa per cent.
from the closing price OF Saturday. 1t was
expected that several stop orders would be
uncovered on the way down in view of
the unfavorable quarterly report published
on Saturday, but only one such order was
disclosed and substantial support being ac-
CnrdaH m the Cfnok n sham rollu took rlooa
sending the price up to 1865. a gain of 3s
per cent. from the low point, the closing be-
market was somewhat depressed in the
early trading owing TO the development of a
realizing movement which quietly spent its
force. though assisted by lower prices from
London The industrial shares were weak
est, but the only reactions exceeding frac-
tional limits were in Sugar and Leather
preferred. which yielded 1 per cent. each.
The declining tendency was checked before
midday by the appearance of purchasing
nouncement that the government gold re-
serve had been increased TO over 500. 10000
helped the upward movement: There was
some sharp covering in the afternoon which
resulted in gains of 27s per cent. in Sugar,
2S in Leather preferred, 2 In Tobacco. ~
and a traction in the rest of the list. Pacidc
Mail was an exception and fell off 12 per
cent. on a rumor that a misunderstanding
Panama railroad as to the amount of bust
ness turned over to the railroad from San
franciSco under the agreement between the
two companies. In the late trading the
market was rather quiet. but was strong
In tone and the closing prices were at or
near the best OF the day.
The bond market was quiec. but generally
firm The Northern Pacific issues were con-
spicuous in the dealings and displayed pro-
nounced strength, the seconds gaining IL
per cent and Pacific thirds and collateral
trust skies 2 per cent. Other important i'm
provements were noted as follows: Louis
Vile x New Albany firsts, IL, and Chicago
Gas hrsts. l per cent. The action OF hold
ers OF Oregon improvement firsts, in COM
bining for mutual protection owing to a de-
fault in the semi-annual interest, was re-
ffected in q drop in the issue of GU per cent,
to &1e; Oregon Improvement consol fives
trust receipts also fell away 2 per cent,
to sc. The aggregate dealings were s.. 3O0.-
The government bond market r.led strong
and higher, with a continuance OF the heavy
trading In the new tours coupon at 1884,
@i1sA. The total sales were $3.50. 81. State
mortgages were without essential change.
5000 Virginia centuries were dealt in AT
612.
The following table. prepared by James f..
Berry. Room 16, Board Of Trade, shows the
range OF quotations: