The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1897-10-27
FIRMER At THE CLOSE
STOCK LIST SCORED ADVANCES IN
SYMPATHY wIfH LONDON.
Decline in Money Ra tes and Favor
able Railroad Statements-LOcal
Business shows Depression.

At New York, yesterday. money on call
was easier at 112G2 per cent; last loan, 2
closing at 1izq2 per cent.
Prime mercantile paper. 4G41k per cent.
Sterling exchange was steady with actual
business in bankers bills at $4S5s4Q4.S6 for
demand and az $4.S24Q4.S3 for sixty days;
posted rates. $4SS14Q4.S612; commercial bills
$4.S2.
Silver certificates. 57@5Sc; bar silver, 5sc;
Mexican dollars, 44s4c. At London bar sill
Yer closed steady at 27lsd an ounce.
Total sales of stocks were 246, 200 shares,
including: Atchison preferred, 1906; Chesa-
peake & Ohio, Ais; Chicago, Burlington &
Quincy, 22,9S9: Louisville & Nashville, 1896;
Missouri Pacific, $3.50; Missouri Kansas &
Texas preferred, BIS; New York Central,
6,151; Northern Pacific preferred, 1926; Rock
Island, 1895; st. Paul, 1S499; Union Pacific,
60,9l0; Bay State Gas, 14,160; Chicago Gas.
1905: Sugar, 10, 701; Chicago Great Western,
$500.
Trading in stocks during the early part
of yesterday was restricted in volume and
the fluctuation in prices on New York
Change was narrow and irregular The
latter part of the day saw quite an increase
in activity and rise of prices to the high
being small. Union Pacific continued to be
the center of interest in the market and
ruled above Mondays close all day and
closed at near the best and "a above Mon
day nights close. The opening gain was
due largely to sympathy with London,
which sent higher quotation for the stock.
The belief gained ground as the day adj
Vanced that the government and the
ganization committee would come to an
agreement on the basis of the committees
expressed intention to bid the full amount
of the governments claim on the main line
The fact. that this bid leaves the govern
ments claim of over 49, 1000 900 on the Kan
sas Pacific unprovided for and the rumors
that increased bids might be made by other
interests which would provide for this in
debtedness caused some feverishness in the
speculation at times. as the acceptance of
such a bid by the government would en-
danger the whole plan of reorganization, in
spite of the assertion of the committee that
it was prepared to carry it out, even If
the government should bid in the Pacific.
But late in the day reports from Washing
ton assumed quite definite form that the
Cabinet had resolved to accept the commit
tee intended bid a minimum guarantee
and withdraw it's request for a postpone
ment of foreclosure sale of the main line.
A fall of S12 points in the price of the Kan
sas Pacific consol skies, trust receipts, was
washington that the committees agreement
with the government included an assent to
q poStpcnement of the Kansas Pacific sale,
presumably with view to giving the gov
eminent an opportunity to secure bid
this property that would provide for a part
or the whole of its claim. AS the chances
OF a separate bid on the Kansas Pacific are
considered remote the price of the consol
skies rallied per cent. and closed at 49,
Trading in Union Pacific absorbed over
quarter of the total sales of all stocks. Out
side of the grangers, Sugar Chicago Gas
and Bay State Gas business was of very
small proportions The tone of the market
was strong, however, and material recover
les from Mondays declines were made aver
aging about point in the grangers and
other leading stocks. Bay State Gas was
weak. decline in rates for call money
and some very favorable statements of
railroad earnings for the third week in Oc-
tober assisted the recovery. There were
purchases for London account of some of
the favorite international stocks incident to
the settlement day on the London Ex-
change. This served to keep up the price
of Louisville in spite of the continued de-
crease in its earnings on account of yell
low-fever quarantine. PittSburg, Cincin-
natl, Chicago & st. Louis was active and
strong and rose at time 2 per cent,
but reacted slightly. Michigan Central was
conspicuous for an advance of "a. The bet
ter tone for Americans in London was
taken as rejecting decline of apprehen-
ion over the Spanish relations with the
United States.
Dealings in railway bonds were not large,
but the tone was firm, with the exception
of the Kansas Pacific bonds above noted.
Total sales were $1,15O,000 United States
skies of 'S9, LOG; Mobile & Ohio fours 70l1;
p. a. r. G. M. fives, "a; Norfolk & West
ern consol fours. II; Norfolk & Western
preferred stock, 4215.
The following table, prepared by L. w.
Louis Room H. Board of Trade, shows the
range of quotations: