The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1897-06-30
WIDE RANGE in PRICES
FLUCTUATIONS IN STOCKS RAPID
ENOUGH TO SUIT EVERYBODY.
sterling Exchange Easy and Ship
ments of Gold VIII Probably Lay
Over-LOcal Markets Strong.

At New York yesterday money on call
was easy at 1lt114 per cent; last loan, 11a;
closed, 112q124 per cent.
Prime mercantile paper, 3Q4 per cent.
Sterling exchange was heavy, with actual
business in bankers bills at $4.STGJ4S7A for
demand and at $4.S5AQ4.S6 for sixty days;
posted rates, S4.S515QL5712 and $4SSq4 SS55;
commercial bills $4.S5.
Silver certificates, 602s06O7sc; bar silver,
60Ac; Mexican dollars, 4714c. At London
bar silver closed steady at 275sd per ounce.
Total sales of stocks were 1872, 10S shares.
including: American Tobacco, 10 600; Atchi-
son, 1900; American Sugar, $500; Burling-
ton, 31,1OO; Chicago Gas, $500; General Elec-
trio, 3,2G6; Louisville q Nashville, $500; Ma
tional Lead $500; Northwest, 5400; North
ern Pacific preferred, 1000; Omaha, AGO;
Reading, $1,000; Rock Island, 23,l0O; St.
Paul, 1850; Tennessee Coal and Iron TO-
100; Western Union, $500; Southern Pacific
preferred, 10000; New Jersey Central, 1900
The market for securities yesterday was
to delight the professional trader, fiuc-
tuations in many of the leading shares be-
ing wide and very erratic. Sugar moved
over a range of 3A during the day, dancing
up and down by spurts and falls. Chicago
Gas was almost equally wide in it's fluctua-
tons and was as erratic and even more
active. The range of these two great CEN
tiers of speculation was above Monday
nights close in the early dealings, and
especially of Sugar, and this tended to re-
strain the distinct tendency towards reac-
ton which was latent in the market all day
and which finally overcame the whole list.
The London Exchange was fast settling
down to nominal activity again after the
interruption of the jubilee festivities and
prices there reflected the opinion of dealers
that the advance of prices on the New
York Exchange had been more precipitate
than was warranted by the conditions. This
influence was reinforced by heavy selling
Tor London account. Prices in the list gen.
orally were feverish, especially the grang
erS, and Sagg6d to a marked degree aside
from special cases. giving very irregular
and a rally followed the publication of the
burlington statement for May, showing an
INCREASE in net earnings of $209,50S
The lowering of posted rates of exchange
q half cent, TO $4.S6 for long and Sass for
tectnS the weakness of the exchange mar
ket and the probability that gold ship
ments would be light or entirely suspended
this week: But when heavy liquidation in
Sugar and Chicago Gas set in during the
final hour the doubts of holders returned in
full force and stocks of all the leading
properties were thrown over at a lively
rate in a feverish desire to realize, and
prices generally wer arried down to the
lowest point of the "a. partial rally in
Chicago Gas stiffened prices above the low
est leaving final results mixed between
gains and losses. Most of the prominent
active shares show losses extending to ia
in Sugar. 21s in Standard Rope and over
point in Burlington, Rock Island, Louisville
* Nashville. Northern Pacific preferred
developed heaviness on the belief that the
differences between the Hill interests and
the voting trustees were about to Gull
inmate. The coalerS resisted the great
heaviness on the increase in the circular
rates for anthracite coal. Among the most
prominent stocks to show gains, though
only fractional, were Tobacco, which was
strong and very active during the greater
part of the day, New Jersey Central,
Omaha, Tennessee Coal and st. Louis
southwestern. In the inactive list some
marked net gains were shown. Rio Grande
Western rose 8; Rio Grande Western pre-
ferred. 234 4; Ice preferred, 3; Cleveland, Gin
cinnati Chicago q st. Louis preferred and
ferred Lead preferred Michigan Central
Minneapolis & st. Louis second preferred,
Spirits preferred and Tobacco scrip a point
or over. The volume of transactions was
almost large Monday, but over
three-tifths of the dealings were concen-
trated in Chicago Gas, Sugar the grangerS,
Tobacco and Atchison preferred.
The upward movement in railroad mort
cages continued with considerable
VigOr, despite the extreme heaViness of the
stock speculation. The inquiry embraced a
large variety of issues in which notably
higher prices We're recorded generally.
Some few bonds suffered from liquidation.
particularly American Spirits. The sales
steady at bid prices and were without sale
The following table, prepared by l.. w.
Louis, Room IL, Board of Trade, shows the
range of quota tons: