The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1897-03-13
NARROW STOCK MARKET
TRUST SHARES IN DEMAND. PRICES
CAREFULLY MANIPULATED.
Tobacco shares Lead the Market,
Sugar Falling to Sixth Place
Local business Quiet.
OF INDIANAPOLIS.

At New York yesterday money on call
was easy at 114d2 per cent; last loan. 2:
closed. 1$402.
Prime mercantile paper. 3d4 per cent.
Sterling exchange was firm: actual bust
ness in bankers bills. SiS7G4.S714 for de-
mand and s4.s51z@4s5Fi for sixty days;
posted rates. 4s615G4. ssh; comm ercial bills.
$4.S4ss.
Silver certificates. 6S11 d6i; bar silver. 65ssc.
Mexican dollars. 1880. At London bar sill
yer closed at 29Isd per ounce.
Total sales stocks were 127.776 shares. in
cludines American Tobacco, $500; Chicago
Gas trust receipts. $500: Louisville & Nash
vile. 1900: Manhattan Consolidated. II. 400;
New York Central. 1O.7OO; Northwest. 1890;
Omaha. 1900; Reading. 5000; St. Paul. o.
30: Western Union. $500.
During the greater part of yesterday the
New York stock market was given over to
the same apathetic condition that has char
acterized it for the last few days. accom-
panied by the same undertone of firmness
which kept most prices up. This firmness i'm
the market resulted in a sharp advance in
prices soon as any activity developed,
which happened late in the dealings. The
Vanderbilt stocks enjoyed the principal adj
vantage from the buying movement, Omaha
showing an advance of points and New
York Central Ia on large volume of trad
ing. greater in each case than that i'm any
other railway stock The transactions in
Omaha were only exceeded by those in
American Tobacco the leader In the
ket. The large dealings IN Tobacco. which
have been q feature Tor several days past,
continued yesterday and the price received
an upward impetus from the decision IN
FAVOR Cf the company OF the New Jersey
suit. which sought TO annul the charter of
the company. Under the buying melted by
this news the stock advanced rs. This rise
induced rcallZ2uons- sugar was compare
lively neglected and fell TO sixth place in
the volume of transactions. The huctua-
tions were within fractional limits and the
close showed no change on the day West
ern Union came forward into prominence
in the buying of the last hour and was
quite largely bought with a resulting adj
vance of > points in the price. There was
no news regarding the property and the
movement seemed TO be the result of pro-
fessional calculations to equalize the value
OF the stock on the basis of ) per cent.
dividend with that of Manhattan on "a 4
per cent. dividend. The latter continues
to sell higher than Western Union The eff
feet OF the buying OF Western Union was.
however. to stiffen the other Gould shares.
Missouri Pacific being especially affected
Rubber proved to be about the heaviest
point in the market and lost q for the
The ostensible ground for the Selling rsire Of
Rubber was the news of the closing down
of some of the company's plants. There.
was quite Il marked inquiry in the late
dealings for the anthracite coalers. New
Jersey Central lost fraction i'm the early
dealings, but under the support of the later
buying IL rose liz, Delaware * Hudson also
advancing l and Reading sharp frac-
ton. The grangers and SouShwesterns
showed "A strong close with fractional gains
although the movement OF their prices was
crratic during the day. In the spocialties
Brooklyn Union Gas rose 2is and Consoli-
dated Gas ?. There was nothing in the rec
ord of the day 10 show that the trading
was other than professional. aside from
some buying. of the Investment stocks. me
market is still cX.rt maly narrow and large
ly subject to m1nipulative efforts.
The Keen investment demand for high
grade mortgages was manifested I'm the
days bond operations. i'm which many is
sues recorded substantial improvements.
The market also was broader than for some
time. with the speculative issues practical
ly neglected
The Lehigh & WiIkesbarre loans were
exceptionally weak. the cOnsOlS declining 2i5
and rallying 1 and the fives recedng II per
cent. to IS. compared with the previous
sale on Feb. Il. The formation of a pro-
tective committee In the interests of Atch-
ison. Jewell County and Western. and AJch-
ison. Colorado * Pacific bondholderS inflG-
enced rise in these liens of ga per cent,
respectively. Other notable gains were
Morris a Essex consols guaranteed and
Rock Island firsts. per cent; ST. Paul
NJ & NJ. four and halfs and St. Louis
southwestern firsts Il. and Equitable Gas.
OF Chicago, hrsts. New York Central de-
benture tours. Ohio Southern firsts and
Pittsburg. Shenango q lake Erie firsts
per cent. The sales were Sl47S.000.
Government bonds responded fractionally
10 "A moderate investment demand. which
was most pronounced i'm the new tours The
aggregate transactions were S26.J00.
Room II Board CT Trade. shows the OF
quotations: