The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1897-04-03
LOST THE EARLY GAINS
TRADING N STOCKS LESS ACTIVE,
WITH WIDE FLUCTUATIONS.
Western Union shares Led the Market
First Time IN Months-LOcaI Mar
kets More Active.

was easy at 1lsd2 per cent; last loan, IA;
closed offered at 1%G2 per cent.
Prime mercantile paper. 512a4 per cent.
Sterling exchange was dull. with actual
business in bankers bills at S4.S7h for de-
mand and s4.s54G4s6 for sixty days; posted
rates. s4ssz94ss1s; commercial bills. ASIA
Q4S5.
Silver certificates. 62ae2lz; bar silver. &c.
Mexican dollars. 4s4c. At London bar sill
Yer closed at IS 1-16d per ounce.
Total sales of stocks were 1s1. 900 shares.
including: Chicago Gas Trust receipts. 12.-
800; Burlington & Quincy. 1900; Louisville
& Nashville. 1000; New York Central. 1880;
Northern Pacific preferred. 1920; Omaha,
1900; Reading. $3.50: Rock Island, 500; St.
Paul. 10000; Western Union, 19, 400: New
Jersey Central. lS,4OO; silver certificates,
5000.
Yesterdays trading on New York Change
was marked by a still further diminution
in the volume of transactions, the total
shares falling below 200, 600 shares. Western
Union became the leader of the market in
point OF number OF shares sold for the first
time in a long period. The sales amounted
days trading left the net changes in most
OF the active stocks narrow, nearly all out
side the coalers showing gains. There was
an obvious undercurrent of strength in the
granger group and others of the Western
and southwestern groups, growing out or
the agreement which IL Is believed Will
prove efticacious in maintaining rates and
still be within the law as construed in the
transmissouri decision. A noticeable fea-
ture of the market, also, was a
of the inquiry for the Vanderbilt stocks,
which was interrupted by the break in val
ueS caused by the transmissouri decision.
The announcement of the arrival in London
of individuals representing large money in
terests received attention by dealers on the
Exchange as a probable influence towards
Improvement of prices in the properties
which they represent Northern Pacific
preferred was notably affected by this in
fiuence. owing to the belief aroused that
conferences in London were tending to fur
Their a harmonious control OF that road and
the Great Northern. The market was not
entirely dominated. however. by these fla
voring conditions, but still carried the In
cubus of a depression in the coal stocks and
some of the Gould shares, which the bears
sought to accentuate. The bear attack on
these stocks checked the advance with
which the market opened and caused de-
haitian. ia in New Jersey Central, rs in
Delaware & Hudson and a point each in
Consolidated and Chicago Gas. II was
rather noticeable that the subsequent i'm
provement in Western Union continued in
face of a statement by Russell Sage that if
ranting the usual dividend rate he should
favor a reduction for the next quarter. The
buying of the Vanderbilts and Northern
Pacific preferred checked the decline. and
prices were carried to the top prices OF the
day. the coalers participating In the Inn
prOvement- northern racine rose : anu
Consolidated Gas the same. and gains OF a
point or more were shown in Omaha, New
York Central. Michigan Central. Sugar
common and preferred). Burlington. Chi
cage Gas. st. Paul Rock Island. LOUISVILLE
& Nashville. Manhattan, Lead and Pacific
Mall. Lake Shore. which ruled at lD bid at
the outset. jumped to 49, bid on the execu-
ton of orders for 800 shares at l65 and 166.
subsequently, a decline to l4 bid occurred.
Leather preferred declined on unfavorable
trade reports, but partially recovered. In
the inactive stocks Minnesota Iron rose la
and Long Island fell lis. The st. Louis
W stocks and bonds, which
showed sharp declines yesterday. received
effective support to-day. Spirits gained 3s
on reports OF a trade agreement and closed
with a net gain OF ga. The close was IT.
regular on account of profit taking. and the
coalerS lost all their gains. but many stocks
showed substantial lew improvements.
The bond market continues TO EXHIBIT
considerable firmneSS, which was more
fully reflected in the high-class issues. The
ST. Paul mortgages were freely dealt in. at
n higher range, with Chicago & Lake Su-
periOr division fives gaining 52 per cent.
The Northern Pacific liens responded frac-
ton regarding the property. and operations
in the ST. Louis Southwestern securities
indicates considerable confidence in the con-
dition Of the property, the first jumping ga
per cent. to 66. and the seconds 4 per cent,
to 20. The sales were 81. 19s. 900.
Government bonds showed strength. with
good demand for the new tours. The sales
Were s.. 500.
The following table. prepared by L. W. Louis.
Room II. Board Of Trade, shows the range or
n.ep- VIfCE- Low Clos