The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1896-09-10
GOLD STILL COMING IN
BANK OF ENGLAND. HOWEVER, HAS
RAISED RATE OF DISCOUNT.
About %2.IOO.OoO withdrawn Yester-
day from British yaults-StOck
ManipuIatiOns ut New York.


At New York. yesterday, money on call
was steady at sac per cent, the last loan
being made at 4, closing offered at 3@4
Prime mercantile paper nominaly at 10
8 per cent.
Sterling exchange weak, with actual bust
ness in bankers bills at "a. S3s4a4.s4 for de-
mand, and $4.S2AG4.s21 for sixty days;
posted rates. $.S21a04.S4 and $i.S41504.S6:
commerciapoills s4S1R.
Bar silver, CSC: silver certificates, &c;
sales, $1,000: at Londan bar silver closed at
80 9-16d per ounce.
The Eank of England has advanced the
price of bar gold to 7ss. American eagles
are unchanged. Withdrawals of gold from
the Bank of England Yesterday were 912s,-
900 and e126o00 in bars for the continent
and Egypt, respectively. and G170,000 in
American eagles for the United States.
making a total of G424 ,000
The total sales of stocks at New York
yesterday were 23S, 452 shares, including the
following: American Tobacco, 5,40o; Atchi-
son. 1900; American Sugar 80, 400; Burling-
ton & Quincy. 1900; Chicago Gas, 11,200
General Electric, $780, Louisville & Nash
VILE Il, 100 Manhattan, $500; Reading, 500;
Rock Island, $780, ST. Paul 400; Tennes-
see Coal & Iron, 400; Western Union, 1890;
w. l.. E., 400; Southern railroad pre-
ferred, $500.
The stock speculation yesterday again re-
fiected professional manipulation to a large
extent, although some commission house
buying was also noted. London again
am uncertain factor. figuring in both sides
of the account The mo cement of prices
was irregular and in number of instances
the variations were wide Aside from
Sugar and st. Paul which jointly figured
for nearly one-half of the aggregate deal
uted. The buIlish influences included the
declaration of the regular quarterly divi-
dend on Sugar and Western Union and
statement of operations of the last men
toned company for the quarter, rumors of
the probable declaration of an extra divi-
dend on the common by the st. Paul di-
rectors at to-morrow's meeting, and, late
in the day. break in foreign exchange
rates and reaction in call money to 9 per
per cent. Additional gold arrivals were re-
ported along with sale by the Bank OF Eng
land o. 81, ,000 presumably for shipment
10 this country. The adverse developments
included the failure of an important finan-
ciai institution at New Orleans and sug-
gestions that. as d result of the heavy
demands for gold, both on continental ac-
count and for shipment to this country,
the Bank of England might raise its min
imum rate of discount. Aside from the
conditions referred to Improvement in the
market for commercial paper was noted.
On the other hand. the shipments of cur
rency to the interior, principally the West:
time money limited. The opening
characterized by renewal of the upward
movement that had - :. progress al the
close yesterday and the volume of business
was on fairly large scale. The strength
of the market continued until near midday,
when realizations caused reactionary
movement. Meantime the gains in the ac-
tive list had extended to 23s per cent. in
Manhattan, while in the inactive special
ties, Lake Erie IL Western preferred adj
vanced 50 per cent. In the downward
movement Chicago Gas sold off ex-
treine per cent TO 3d. Sugar dropped 2A;
Tobacco, 2; Manhattan. Ia: General Elec-
trio. IA. and the grangers, 1M1A, the last
In Burlington. Western Union had risen
IL TO GA, but receded to yesterdays final
in the general slump. The quarterly state
ment, though fully favorable had
been anticipated failed to exert any in
fluence on the price of the stock. On the
downward trend the market became dull
and continued heavy until about delivery
Ahour. when the break in exchange caused
IAN improving tendency. resulting in frac-
onal gains all along the line. The move
bent was facilitated by covering pur-
bases. The closing was dull but steady at
lie rally. with prices showing irregular
actional changes
Bonds ruled firm and higher on dealings
s92S,0Ga.
Governments displayed continued strength
nd rose fractionaly sales of $4,000
The following table. prepared by l.. w. Louis.
Room IS. Board of Trade, shows the range of
fluctuations: