The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1897-10-06
STOCKS ARE NEGLECTED
ONE OF THE QUIETEsT DAYS IN
MONTHS ON NEW YORK CHANGE.
Falling on of Activity in the Bond
Market, with Prices Holding Steady
Local Markets Firm.

At New York yesterday money on call
was easier at 21Aq3 per cent; closed. 212Gl3
per cent.
Prime mercantile paper 41sd5 per cent.
Sterling exchange was weak, with actual
business in bankers bill at $4S4as for de-
mand and at $4.S2494S29s for sixty days;
posted rates, $4S3d4.o4 and "a. S5129t4.e6; COM
mercial bills, $4SlQ4Sl1A.
Silver certificates, 55Q56c; bar silver, 55c;
Mexican dollars, 42s4c. At London bar sill
yer closed quiet at % 9-16d an ounce.
Total sales of stocks were 34660O shares,
including: Atchison preferred, 5,8l2 Ches-
apeake & Ohio. 4,215; Chicago, Burlington
& Quincy, q, 1855; Cleveland, Cincinnati, Chi
cage & St. Louis. 1,040; Louisville q Nash
vile, 1880; Manhattan, 1880; Missouri Pa
citc, 12,3S5; Mobile & Ohio. 49, New York
Central, 1920; Northern Pacific preferred,
1894; Ontario q Western, 10,l40; Reading,
2.S75; Rock Island, 1921; st. Paul, 2S,7O5;
Southern Railway preferred, 6,S45; Wabash
preferred, 5000; Union Pacific, $500; Amer
lean Tobacco, Alp; Bay State Gas, 15,22o;
Chicago Gas, 81. 1850; General Electric, loo;
Pacshc Mail, S.41S; Sugar. 23,347; Tennessee
Coal and Iron, 1850; Chicago Great West
ern, 1880.
Not in many weeks has Wall street seen
y
1t was offered as an explanation that the
eve of the Jewish day of atonement called
many brokers and operators from the
street. But there was, apart from this.
manifest disposition to refrain from trad
ing and TO leave the market TO lie fallow
for a time. Mondays sharp reaction APP
parently admonshed the bulls that condl
tions are not yet ready for a resumption
of the advance. The favorable factors
which developed during the day, although
they affected for a time the individual
stocks to which they applied, were inefect-
i've in causing a general advance, and prices
of most stocks closed lower. Union Pa
cific was exceptionally firm, but later de-
clined owing to the discredit attaching to
reports of an English syndicate's intention
to outbid the reorganization committee at
the approaching foreclosure sale. LoulsylHe
and southern preferred were sustained by
their good showing of earnings. All OF the
traffic statements at hama showed notable
increases in earnings, but not all OF the
stocks of the roads affected derived any
benefit. Union Pacific was assisted by
report that it's differences over traffic eX-
change with the Oregon Short-line had been
adjusted and the latter stock also
strong during the day. The principal ac-
tivity centered in specialties, and the trad
Ing in them was largely based on vague ru-
mors that had nothing to 90 with the
general situation. Actual rates Tor STERLING
exchange fell Is for sight and "a tor long:
This led to increased talk of early gold
imports. In this connection it is interesting
to know that yesterdays statement of the
weeks export of general merchandise
shows a decrease of $780, 773 from last week,
while that weeks imports it will be re-
membered, increased 81, SS2, 1854 over the pre-
ceding week. Additional deposits of gold
received from San Francisco were made at
a clearinghouse bank, and the continued
Increase in the gold reserve in the United
States treasury, even in face of an excess of
disbursements over receipts, is additional
evidence of the abundant supply of gold at
present in the country. Yesterdays losses
were for the most part fractional but
reached point in Chicago Gas. Bay State
Gas, Erie first preferred, Metropolitan
Traction, Michigan Central. Omaha. sus-
Quehanna & Western preferred and st.
Louis & San Francisco first preferred.
There was a falling off in the activity of
the bond market, but prices for the most
part were steady and in some cases strong.
Total sales, 81, 10000. United States new
fours registered were advanced Zee bid
and United States new tours. coupon, 1sc
bid. The fives, registered, also rose 1sc
bid. There was sale of the fives coupon,
at 115h.
The following table, prepared by L. w.
Louis, Room II, Board of Trade, shows the
range of quotations: