The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1897-08-24
STOCKS ARE IN DEMAND
HEAVY VOLUME TRADED IN AND
GENERAL GAINS SCORED.
Big Bull Ciique's Hand Apparent in
Recent Fluctuations Local
Business Prosperous.

At New York yesterday money on call
was easy at 1Q112 per cent; last loan, 1R
per cent; closed offered at ~ per cent.
Prime mercantile paper, 3%q41a per cent.
Sterling exchange weak, with actual bust
ness in bankers bills at $4S51a04S534 for de-
mand and at $4.S3as94.S312 for sixty days;
posted rates. S4S41aG4S5 and S4S6l2; COM
mercial bills, $4821aQ483.
Silver certificates, 52Q521zc; bar silver, SIC;
Mexican dollars, $3.50. AT London bar sill
yer was fiat at 241sd per ounce.
Total sales of stocks We're 449 1862 shares,
including: Atchison, 1850; Atchson pre-
ferred. 81 2S3; Chesapeake & Ohio, 1920; Chi
cago Burlington & Quincy, 47,OS0; Illinois
Central, $3.50; Louisville & Nashville, 1850;
Manhattan L, $500; Missouri Pacific, 1878;
Missouri Pacific preferred, 1876; New York
Central, 1880; Northern Pacific, 1901;
Northern Pacific preferred, 49, 1893; Reading,
1926; Rock Island, 2O32O; St. Paul. 5000;
Southern Railway preferred. 8134; Union
Pacific, 1885, American Spirits, $500;
American Tobacco, 1855; Chicago Gas, 1850;
Pacific Mail, $3.50; silver certificates, 5000;
Sugar, S,940; Tennessee Coal and Iron, $3.50;
United States Leather, 1920; United States
Leather preferred, &02O; Western Union,
12,270; Chicago Great Western, 13 076.
The New, York stock market yesterday
shook itself free from the heavy restraint
which was imposed on 1t during all OF last
week and bounded upward again. The
large dealers who threw their holdings on
the market last week to realize bought
brought the level of the market about up
seemed to have eliminated. That great
moneyed interests We're concerned in the
buying was shown by the heavy blocks of
stocks that changed hands and by the ex-
tensive buying of bonds. There was one
order for any part of s1,0OO.O0O of bond
which Is a. faVorite in the speculation at
present. commission wi ba6
withdrawn from the market last week and
had joined the selling movement towards
force again. 1t was more q movement of
the large dealers to buy back at the lower
level what they had sole. The motive of
the abandonment of the bear movement
and the resumption of buying was a grow
ing skepticism regarding the reports of re-
duced spring wheat crop in the Northwest.
The enormous liquidation in the wheat
market gave confirmation to these doubts.
The continued rise of wheat in England
was continuing evidence OF the foreign need
for wheat and gave assurance of great
the grain and back again to transport the
merchandise which the farmers profits
ton in London also aided the stock market.
The fact that foreign houses sold grain in
the market and that purchases for export
We're largely curtailed did not prevent the
sterling exchange market from weakening
Ac for actual rates of both long and snort
sterling. the former falling to 81. S33s and the
latter to $4S515. This reflects the waning
influence of the measures taken by the
Bank of England to defer the movement of
gold to this country, and was a strengthen
ing factor in the stock market The grang-
ers and all gTain-carrying roads led the i'm
pPovement. Burlington leading with pa per
cent. The Vanderbilt shares and South
western, the Gould stocks. the international
shares were all very strong and active, and
few failed to show net Improvement of at
least q point. The anthracite coal shares,
especially the Reading issues, We're also ac
tive and strong. Leather preferred was
largely dealt in at an advance. Atchison
preferred gained 21s Illinois Steel A. Louis
Vile & Nashville pa Michigan Central 3.
Rubber preferred 21a and Chicago Great
Western preferred Az.
The bond market showed reawakened ac-
tivity, the Atchison Erie and Northern Pa
cifc issues being prominent Northern Pa
cifc threes gained 15s. Atchison adjustment
tours 13s and Erie threes Ia.
The following table. prepared by L. w.
Louis, Room II. Board of Trade, shows the
range of quotations: