The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1897-05-19
BETTER DAY FOR STOCKS
SECURITIES IMPROVED ABROAD
AND THIS HELPED AMERICANS.
Turkey Yielding to the Powers Ac-
counts for the Change-HOcaI Mar
kets Firm and Active.

At New York yesterday money on call
was easy at 14911a per cent; last loan, 112;
closed. 1AG1h per cent.
Prime mercantile paper, 315@4 per cent.
Sterling exchange was easy, with actual
business in bankers bills at $4.S7 for de-
mand and at $4.S6q4S614 for sixty days;
posted rates, $4.S7 and $4.SSq4SS1a; CONNER
cial bills, $4S5Aq4S51A.
Silver certificates, 61@6115c; bar silver,
6015c: Mexican dollars, 473sc
Total sales of stocks were 132, 4l9 shares,
including the following: American Sugar,
H. 100; Burlington & Quincy, 15,1OOe Chicago
Gas Trust receipts. is, 100; General Electric.
$500; Manhattan Consolidated, 3.400; Read
ing, 1890; Rock Island, 5000; st. Paul, IT,
500; Union Pacific. 1890; Western Union, g.
eco; New Jersey Central, 1880.
The tremendous potenuality for evil al
ways latent in the Eastern question was
measured to some extent by the sense of re-
lief reflected in the exchanges of the world
yesterday over Turkeys acceding to the de-
mand of the powers for a cessation of hos
tilties against Greece. Values all over
Europe improved from moment to moment
and even American securities, remote as
are the properties they represent from any
danger of harm in the cataclysm of an Eu-
ropean war, advanced in price all through
the market The improved tone abroad was
the salient influence on the New York mar
ket. but II aided by various favorable
domestic factors in the situation. The fur
Their weakening of the exchange market,
both for sterling and for continental ex-
change, added TO the conviction that if any
gold be exported this week the amount will
be small. There was in the tone of the
stock market reflected Indifference TO the
possibility of action by the Senate on the
Cuban question that might be unaccepta-
BILE to Spain. This was partly due to the
belief prevalent in Wall street that the aG-
ministration has determined on a conser-
Vative policy on Cuba, but holders of the
securities are also less inclined to timidity
question than was formerly the case. Per-
haps the restricted volume of the trading
was due in part to the Cuban discussion in
the Senate, the total sales reaching only
about 1876 900 shares. Although about half
this amount was absorbed by the five lead
ing stocks, the smaller sales were better
distributed through the list than for some
time past, many usually inactive SHARES
coming in for a fair degree of activity.
Chicago Gas was the leader OF the market
and was strong all day untll just before the
close, when it reacted a sharp traction. st.
Paul and Burlington came next in point of
activity and moved nearly pafallel all day,
showing a slightly wider reaction just at
the close The strength of the grangerS
was material factor IN the strength of
grain situation in the Northwest and the
increase in ST. Pauls gross earnings for
the second week in May of $l4S4S. The
Southern and Southwestern railroads also
continued their showing OF increased earn
ings in the second week statements, Mis-
souri, Kansas < Texas, with an increase of
$29.4S0, and Kansas City, Pittsburg q Gulf
OF S29,6y London was a small buyer or
stocks, but was also a seller and how far
the one offset the other cannot be accurate
1y stated. BurlinGtons extreme rise was
Ia and St Paufs rs. New Jersey Central
moved over a range of rs under bear pres
sure and affected the other coalerS by sym
patny, but closed practically unchanged.
General Electric was also under continued
pressure but showed no important change
on the day. Manhattan was forced down
lI6 and rallied feebiy Tobacco moved up
1ss at the close under manipulation Brook
iyn Union Gas lost lSs. Lead common gained
49, and the preferred Ia on account OF ben
ents from the proposed tariff. St Louis &
San Francisco first preferred advanced 39s
and Norfolk & Western preferred IA
Union Pacific and Western Union gained a
point each and Leather preferred rose IL
Fractional net gains We're made through
the entire list The market closed strong
and generally at the best prices.
The bond market ruled fairly active. with
generally higher prices current; some few
exceptions were noted, but these were CEN
tered in the low-grade inactive lines includ-
ing Colorado Midland tours, trust receipts
which yielded 2la per cent. Atchison gener-
al fourg were quite ami Aated with u block
of 100000 changing hanus at Ds, the top
price. The aggregate sales were 81 394 900.
Government bonds were easier on the first
cali for the new tours, but later hardened
slightly The transactions aggregated
$l3. 000
Room II. Board OF Trade shows the range or
QuOta.lOEs: