The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1897-06-15
STOCKS STILL RISING
UPWARD TENDENCY OF LAST WEEK
RESUMED YESTERDAY.
Marked Advances Scored in the Face
of a Dull Market-LOcaI Business
Active and Strong.

At New York yesterday money on call
was easy at Ia per cent; last loan, l per
cent; closed offered at per cent.
Prime mercantile paper, 3d4 per cent
Sterling exchange was dull and firm, with
actual business in bankers bills at S487 for
demand; $4.s534@4S6 for sixty days; posted
rates, $4.S6hQ4.S7 and $4.SS; commercial bills,
$4S5A.
Silver certificates, 6O1s@6O3s bar silver,
$3.50; Mexican dollars, 47Ac. At London
bar silver closed steady at 2715d per ounce.
Total sales of stocks were 249513 shares.
including American Sugar, 5000; Burling-
ton & Quincy. 17,1O0; Chicago Gas, Is. 400;
Louisville & Nashville, 1900; Manhattan
Consolidated, 5000; Missouri Pacific, 5000;
New York Central. 17,200;l Northwestern.
5000; Northern Pacific, 5,000 Northern Pa
cific preferred 1890; Reading, $500; Rock
Island, 1890; st. Paul. 1850; Tennessee Coal
and Iron, 4,4OO; Texas & Pacific, 1900;
Western Union, 800; Southern Railway
preferred, $500; New Jersey Central. II. 200.
The upward tendency was resumed yes
terday on the New York Stock Exchange
after short-lived selling movement to
realize in continuation of Saturdays move
ment. The rise was in spite of The dull
ness and heaviness of Americans, along
Exchange This neglect WAS e4pls ined by
the absence of traders to participate in the
opening festivities of Queen Victoria's dia-
mond jubilee. New York ignored the de-
cline in London, and proceeded to bid I'D
the prices soon after the opening The
warm, SeaSonable weather and its certain
beneftt to crops gave fresh impetus to
values IN the granger group, which re-
manned practically stationary all last week
AZ the top price Burlington showed an ad-
west rs. Net gains were slightly below the
1nlghest in the CHANGERS as in other stocks
Inc ideclaration of dividends on members
OF the Vanderbilt group Fad been discCun ed
as had been the passing of the dividend
on the preferred stock of Cleveland Gin
clnnati, Chicago. & st, Louis. The com
mon stock OF this company, after a slight
opening decline, made an unaccountable adj
vance of per cent. in face of the dividend
runor and first week stattems,iI showing
decrease In gross earnings of over $4,000
Reaction carried the price below SATURDAYS
close The local gas stocks all showed
very notable buoyancy, which no news was
forthcoming to account for though rumors
have been prevalent for some time of a
consolidation of interests among the COM
panfeS. Continued strength in the stocks
of iron and steel companies reflected the
improved outlook for business in that i'm
dustry. Conspicuous strength was mani
tested also by the Goulds. Manhattan and
Western Union, each advancing over
point. The good buying of New Jersey
Central also continued, resulting in mark
ing up that stock three points after an
initial decline and some irregular liuctua-
lions. The strength of the low-priced shares
of reorganiZed companies continued mani
fest in the advance in the preferred stocks
of Northern Pacific and Kansas & Texas
and the second preferred stock of ST. Louis
q San Francisco under sales atsgragating
10000 shares of the last named. Quite a
feature of the trading was the number of
fractional lots of stock that changed hands
indicating the outside purchases made
through commission houses. The sales of
odd lots were well distributed throughout
the list Sugar developed assured strength
as the day progressed, and showed a sharp
gain on the day. Chicago Gas was active
but irregular ranging over ~, and closing
with net gain less than that. Following
are the noteworthy extreme advances Cen
solidated Gas, per cent; Wells-Fargo EX-
press, 2A; Sugar, Lead, Cotton Oil pre-
ferred, both Rubber stocks, Illinois Steel,
Norfolk & Western preferred, Pittsburg,
Cincinnati, Chicago & st. Louis preferred.
Trading in bonds was on an enormous
scale, the sales aggregating almost $3,OO0
900. Decided gains were made IN issues with
St Paul scoring the extreme improvement
OF per cent. The market developed con-
siderable strength, with purchases of the
prominent mortgages being made for spec
ulative and investment account with con-
siderable confidence. Government bonds
ako shared in the general S ren .gh I at % r
meated the securities market. The new
fours, coupons We're quoted at 125h, the best
price noted in the present movement.
Transactions were confined to block of
$4,000 at 12s
The following table, prepared by L. w Louis
Room II, Board of Trade, shows the range of
quotations.