The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1897-05-18
STOCK EXCHANGE NEWS
NOT OF A CHARACTER TO INDUCE
ACTIVE BUYING OF SHARES.
McIxinIey's Cuban Message Failed TO
siOnaIs-Local Markets Active.

At New York yesterday money on call
was easy at 1A@11A per cent; last loan, ~
per cent; closed, 1AQ112 per cent.
Prime mercantile paper, 312G4 per cent
Sterling exchange was easier with actual
business in bankers bills at $4.S714Q4.S7ss
for demand and at $4.s61s@4.s6A for sixty
days; posted rates, $4.S7 and $4.SSQ4.SS1a
commercial bills, $4.s514Q4.S51a.
Silver certificates, 611s@6114c; bar silver,
611sc; Mexican dollars, 47s4c. At London
bar silver closed quiet at 2S lid per ounce.
Total sales of stocks were 1885 shares,
including: American Tobacco, $500; Amer
lean Sugar. 2O6OO; Burlington & Quincy.
12,10O Chicago Gas trust receipts, 20, 200;
General Electric 10000; Louisville & Nash
Vile, $500; Manhattan consolidated, $500;
Omaha, 5000; Rock Island, S4OO; st. Paul,
10,700; Western Union, 4,5O0; New Jersey
Central, 1900.
The Presidents message calling for an
appropriation to relieve destitute American
citizens in Cuba proved far less hostile in
tone towards Spain than the dealers in Sc
curities had apparently persuaded them
selves that it would, and the market
strengthened on it's publication, recovering
some part of the loss that ensued upon
early limitations that the message was
forthcoming and that its tone towards
Spain would be extremely provocative
With the exception of a few weak spots in
the market, due to causes peculiar to the
stocks affected, the New York market was
strong all around yesterday and even the
intimations from Washington that early
actlon IN the Senate on Cuban bellgerency
was probable, did not weaken the tone of
speculation. The traders have apparently
persuaded themselves that there is much
less danger TO values in action by the gov
eminent in Cuban affairs than they have
Lei I curing the previous agitation of the
SSo a2eS, Ine dealings on the exchange,
however, sun continue almost wholly pro-
1essional and exceedingly restricted in vol
une, ana the movements of prices reflect
Httle more than board room maneuvering
Tor short turns and no very definite opin-
ION on general conditions. The renewed UNI
easineSs apparent on the London Exchange
over the truculent attitude of Turkey to-
wards the great powers was reflected here
GO some extent at the opening but the
SION. Inc easier tone of the ex-
Ghange market both on London and
Ia Faris ~ was a factor in strengthen
notlce that the flow of gold into the United
states treasury keeps up steadily and that
~ ~ the intervals between the Withdrawals
1I Shipment the treaSury'S gold reserve
tends Immediately towards replenishment
me prospects of large grain crops, which
ket, tended the other way in the market
LOT railway shares, the grangers especially
Delng In excellent demand, Notwithstanding
the small eaSt-bound shipments reported
and rumors of rate cutting by Western
roads and determinations on that account
between the roads. One-third of the trans
actions on the exchange were in Chicago
Gas and Sugar, the former leading the mar
ket IN buying movement which advanced
the price "a on the day. Sugar was weak
early, but scored a net gain of a fraction
on the day. Tobacco was weak on the III
lnois decision denying the legality of the
company but inside support was forthcom-
ing and the loss was mostly recovered The
improvements in the grangers ranged from
% TO rs the latter in Rock Island. Early
strength IN the coalerS amounting to a rise
OF Ia IN New Jersey Central. was followed
by heaViness and the gains were more than
wiped out General Electric seems to have
been caught without support by the bears
and was sold down 23s, only the fraction
being regalned. The Gould shares adj
Vanced on covering early but developed
weakness later in the day. Fractional
gains We're very general throughout the list
London sold some stock on arbitrage early
put later became buyer and ii is estimated
bought 100000 shares more than were sold
The bond market displayed little feature
out prices were well held and a firm under
tone was apparent. Fluctuations were un-
usually narrow and but little attention was
paid to the prominent issues The agere-
gate sales were 5000 Coo
Government bonds ruled heavy and re-
coded a fraction for some issues The sales
were $4,000. State bonds were more Drom
inent in the speculation and improved gem
orally on purchases of $1,000.
The following table supplied by L. w Iouis
Room Il. Beard of TRADE, shows the range OF
quotations: