The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1896-10-15
ACTIVE STOCK MARKET
FRESH ENGAGEMENT OF. GOLD IN
LARGE AMOUNTS FOR
IndustriaIs Largely Dealt in and
Scored Wide FIuctuations-LOcal
Markets Continue Firm.

At New York, yesterday, money on call
was very firm at SOLO per cent; last loan.
6; closed at 5@6 per cent.
Prime mercantile paper was nominally
7110Sh per cent.
Sterling exchange was weak, with actual
business in bankers bills at $4.S1%04.S4 for
demand and s4.S1G4S1A for sixty days;
posted rates, $4.S1hGD4.831a and A.SfAQ4.S6;
commercial bills. $1.79k.
Silver certificates, 64s4G65c; bar silver,
64sc. At London bar silver closed at 294d
per ounce.
Total sales of ste cks were 219, 423 shares,
including the following: American Tobacco,
1880; Atchison, $500; American Sugar,
$1,000; Burlington, 1000; Chicago Gas, 1000;
Louisville 81 Nashville, S,100; Manhattan
Consolidated, 1880; Reading $780,; Rock
Island, 3,50o; St. Paul, 1900; Tennessee
Coal and Iron, $500; Union Pacific, II, 100;
Southern railroad, "a, 500; silver certificates,
$1,000.
The New York stock market was more
active than usual yesterday, and the dis
trtbution Of the dealings was also wider
than OF late. The industrials held the first
place in point of activity, as a group, but a
fair volume Of TRANSACTIONS was also re-
corded in a number of the spec:alties and
leading railway shares. Manipulation was
again Il distinct feature of the operations.
Inc course or prices was irregular and the
fluctuations wide in many instances. The
market displayed decided strength at the
outset en- a variety of favorable influences.
London prices came higher and the local
sentiment was affected in addition by the
publication of our international trade fig
ures, which afforded a clear explanation
fer the bulk Of the recent gold imports.
The exchange market also developed fur
Their weakness. actual figures reaching the
legitimate import basis, A.S3A for demand.
Posted quotations were also reduced 15c to
$~4.Sl1204-S41s by a leading drawer. This fact
UynO nv Tho -Z--- 80 n44y,.I
engagements of gold -aggregating 1880. 600
and by cabled estimates of impending ex-
f RoraS OF es gela to th to SIC ao9 CO. 6yo. in p the msas
Tor both accounts caused advance all
around, with the industrials leading, on
gains extending to IA per cent. in Leather
preferred. The investment stocks were in
fair request and some striking advances oc-
CURED in the inactive list. Lackawanna
rose 8. Cotton Oil preferred 2a and Metro
poEtan Traction 2 per cent. Tobacco moved
In contrast to the general upward trend,
end, after an initial rise of q per cent. to
1e, slumped to 70 on realizing sales. A par
tfal rally followed to 1874. The improve
OF to 71Ssc, the lowest of the day, in the
late dealings, On 4 drive by the bears.
fluctuations. The stock rose 3A to 45. broke
subsequently, to 40A, and rallied to 41%c.
The bulls retained control of the market
until the early afternoon and marked Sugar
up to 100 and st. Paul to II. Other shares
displayed net gains of 1d11a per cent. A
feature of the trading was unusual activity
In Union Pacific at an. extreme gain of III
per cent. In the last hour an advance in
call money rates in the board to 10 per cent.
precipitated heavy selling all around. which
caused the loss of most of the early gains.
Leading bankers deprecated reports that
the rise In money was artificial, and pre-
dieted q sharp money market for the next
rev weeks. Eank deposits are not in
creasing, owing to the indisposition of
country financial institutions to return
funds to New York. and there is practically
no time money Offering. Incidentally the
banks nave Withdrawn almost entirely from
the market for commercial paper. Ship
ments OF money to the interior continue on
a large scale. The annual report of the
western Union Telegraph Company was
published yesterday. and was a favorable
exhibit. The report failed of effect, how
ever. IN the market. The closing was weak
at fractional net gains.
Railroad bonds continued strong on a fair
volume of business. The Reading and
Atchison issues led in activity. Kansas
Pacihc consols scored an extreme advances
OF 31A per cent. TO Sc. A notable exception
to the general tendency was Atchison. Col
orado ~ Pacific firsts. which reacted 7
per cent. to %. The sales were s1.3S7s 00o
The following table. prepared by L. w. Louis,
Room -, Board of Trade. shows the range of
quotations.