The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1897-10-19
BETTER STOCK PRICES
AT NO TIME YESTERDAY WE'RE
THEY UNDER SATURDAYS CLOSE.
Striking Strength of Railroad shares
COntrasted with the Industriais
Local Markets Firm.

At New York yesterday money OH can
was easier at 2Q215 per cent: last loan, 2lA
per cert: closed, 2Q2sz per cent.
Prime mercantile '1per, 44Q4s4 per cent.
Sterling exchange easier, with actual bus
mess in bankers bills at $4.S14q4S4as for
demand and at $4.S11sQ4.S2 for sixty days;
posted rates. $4se1zQ4.S31a and $4.S512; com
mercial bills, $4.S1.
Silver certificates, 5S15959c; bar silver,
5sstc Mexican dollars, 44s4c. AT London bar
silver was steady at q 3-16d an ounce
Total sales of stocks were zS5, 100 shares,
including: Atchisor preferred, 4.SS9; c.. b.
& O., 1888; Louisville & Nashville, $3.50;
Missouri Pacific. 1920; New York Central,
2S79; Northern Pacific preferred. 1o,614;
Reading, S1O6; Rock Island, 1880; st. Paul,
16.44O; Union Pacific. $500; Bay State Gas,
BIS; Chicago Gas. 1905; Sugar, 1880; Chi
cago Great Western. 1890.
For the first time in several weeks prices
of stocks yesterday were at no time during
the day below the Level of those prevailing
at the close Saturday night. There were oc-
casional Slight reactions with no better ap-
parent cause than sympathy with Sugar,
which was itself markedly strong and was
turned backwards at times only by profit
taking. Speculation halted during the morn
ing in expectation of a decision by the Su-
preme Court at washington in the Nebraska
maximum freight rate case. Although this
decision is expected to be in favor of the
railroad and WIS looked to give an upward
impetus to prices, the announcement that
the handing down of the decision had been
postponed was followed by a decided in
crease in the activity Of trading an activ-
ity attending the rise of prices instead of
the decline for the first time in many weeks.
The strength of the granger stocks and the
awakened interest and Improvement in the
Vanderbilts were very noticeable. The vigor-
GUS upward movement of this powerfully
influential group caused a striking advance
throughout the list net gains in nearly all
the active stocks equaling at least point
and In several special cases equaling or
exceeding two points. A feature of the mar
ket quite as striking as the strength of the
railroad stocks was the neglect of the in
uustrlalS except Sugar, as compared with
the recent trading and even Sugar showed
q railing off in activity the day pro-
crossed and the trading in the railroad
stocks developed greater animation Chi
cago Gas, which of late has entirely over
sshSdowed the rest of the market, to-day
zen INTO 1nnocuouS deSuetude and was no
longer available as an instrument for the
pears TO demoralize prices in the general
nst, ITS total range of prices was only a
small traction and the small volume
OF transactions looked almost like neglect
VINE sugar was quite active and moved
3 oCAACW within of
nearly Lfree points, it showed sufficient
strength 20 aid the rest of the list by SYM
pathy and closed at net gain of 25s The
money market was noticeably easy, which
was an additional incentive to a renewal
OF speculation Call loans were quite freely
made at rates below pc per cent down 20
per cent. Outside banks also continued bid
ders In this market for mercantile paper
ana are thus releasing considerable sums of
money to the New York banks, which are
aValaDie for loans in other departments
ine STATEMENTS of railroad earnings for the
second week In October which were received
al show continued marked increases over
the corresponding period last year. the soft
coal ROADS showing an especially noticeable
recovery from their recent heavy depres-
SION. me september statement of the Pitts
ourg, Cincinnati, Chicago & St Louis
caused sharp advances in the stocks of that
company the preferred stock rising 2iS
points Pullman advanced 3S and Susoua-
mamma q western preferred pa While the
character OF the trading did not go outside
the professional limits which have marked
II for several weeks. the undertone Of
strength of the market showed the prac
teal cessation of the manipulation by the
reactionists. Sugar was the only stock on
the list 10 show transactions exceeding 20 O00
shares and the total sales of all stocks fell
considerably below 250, 600 shares
The bond market was not very active but
prices We're generally firm. Total sales were
1850 600
The following table. prepared by L. w
Louis, Room i. Board of Trade, shows the
range of quotations: