The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1897-03-09
HIGHER-PRlCED STOCKS
TOBACCO SHARES WERE IN DEMAND
AND ADVANCED Ia PER CENT.
Changers showed Fresh Strength and
Resisted Late DepressiOn-LocaI
Markets Firm and Active.

At New York yesterday money on call
was easy at 112G1as per cent; last loan, H.
closed. 11zQ124 per cent.
Prime mercantile paper ia per cent.
Sterling exchange strong. with actual
business in bankers bills at $4.Sl2 for de-
mand and s4s5za for sixty days; posted
rates. S4.S6aIS6i2 and si.SSI2; commercial
bills, AS4l5.
Silver certificates. 63A96f4c; bar silver,
63%4c; Mexican dollars, 1910. At London
bar silver closed at 29I4d per ounce
Total sales Of stocks were 49, 76i shares,
including the following: American Tobacco.
27.4O0; Burlington & Quincy, 1860; Chicago
Gas Trust receipts, $500; Louisville * Nash
VILE. $500; Manhattan Consolidated, II, 1872;
New York Central. 2.4OO; Reading, 1900; st.
Paul, 1900; New Jersey Central. IL, 800; sill
yer certificates, 1900.
The most notable feature of yesterdays
New York stock market the sudden
activity of the shares of the Tobacco Com
pany in the last hour of trading. The stock
had been influenced by the depression ex-
listing in other shares after the opening,
and had fallen a point. but about delivery
hour heavy buying movement developed
for the stock, and it quickly regained the
loss and more, rising rs points, 70 Ass. The
fraction WAS lost in q reaction leaving the
10 be tor inside interests, and IA was at
tributed to various causes. There was a
report that the New Jersey suit TO annul
the charter OF the company had been de-
cided In the cOmpanys FAVOR. A rumor
originating IN Albany was also i'm crcula-
ton. that the forthcoming report OF The
Legislative trust investigating committee
would not contain anything that would
threaten harm TO the company. Ii was pc
lieved by some, also tnat inside interests
We're giving the shorts squeeze In return
for some successful efforts recently TO de-
l-lf lilo or 4
some zf,CUJ shares dealt in, which was al
most twice the number of any other stock
The general conditions all seemed favorable
Tor a buoyant market throughout. me
tone impaired 10 the opening by the Lon
don market was distinctly favorable. Amer
leans being higher there, and there was
buying for London account in New York
during the day. Louisville * Nashville
which has been notably depressed recently
In sympathy with the London markey
gained rs. New York Central continued its
strong showing on the statement for FEB
ruary gross earnings, which were s., 301 $780,
the largest for the corresponding month in
any year since lS92. Omaha also was nm
as. mere Was, however cessation of the
special activity in the Vanderbilt shares
which marked the dealings of last week
The grangers showed strength and good re-
slStlng power to the latter depression of the
market, being aided by good commission
house buying and by the report of an in
crease in the east-bound freight tonnage
Inc depression was brought about by the
special weakness shown by Manhattan
Much doubt was felt to the action to be
O.
morrow on the dividend rate which some
interests lear Is to be reduced. The price
cropped 2ss, TO Al3. and rallied only feebly
New Jersey Central was also largely sold
on the recent published statements of the
earnings OF its subsidiary coal company.
The price fell on per cent. Sugar also
manifested signs of depression. due 10
doubts as to the amount of protection
which VIII be accorded to refined sugar un-
der the new tariff. There was also a fall
In the price of sugar itself. The general
list responded 10 the influence of these
stocks. though not i'm any marked degree
New Jersey Central rallied in the afternoon
IA, carrying with it other coalers Della
ware * Hudson showed a gain of IL and
others fractions. The proceedings during
part of the day were intensely dull the
fluctuations in values being extremely mar
row. The buying of Tobacco shares i'm
parted strength TO the whole market so
that the close was strong, and sharp gains
were shown in the other shares
Dizziness was the chief characteristic of
the bond market. but firmness was gem
erally apparent on narrow fluctuations
Government bonds were neglected but
generally firm Silver certificates Were
dealt I'm at slight concessions. after a long
neglect.
Inc following table prepared by l.. w. Louis.
Room II Board or Trade, shows the range of
quotations: 9 ~