The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1897-09-04
HEAVY SALES OF STOCKS
ST. PAUL LED THE MARKET, AD-
VANCING NEARLY -FOUR POINTS.
Sugar Trust Touched Another High
Record Mark-LOcaI Business Shows
Steady Improvement.

At New York, yesterday, money on call
was easy at 1l2Q2 per cent; last loan at
per cent; closed at 112Q2 per cent.
Prime mercantile paper, S12Q41A per cent.
Sterling exchange was strong, with actual
business in bankers bills at $4S57sq4 S615
for demand and at $4.S3s4d4s4 for sixty
days; posted rates, $fS414q4S512 and S4S61z
@4.S7; commercial bills, $4.s212.
Silver certificates. 52a4c; bar silver, SIC.
Mexican dollars, 415sc. AT London bar sill
Yer closed steady at 24d per ounce.
The total sales of stocks were $50, 325
shares. including: Atchison, $500; Atchison
preferred. 1e625; Canada Southern, 600;
Chesapeake e Ohio 900; Chicago, Burling
ton & Quincy 1925; Cleveland Cincinnati,
Chicago & st. Louis, $500; Denver & Rio
Grand preferred. 1880; Erie first preferred,
800; Illinois Central $500; Louisville &
Nashville. S1.72O Minneapolis & st. LOUIS,
400; Missouri Pacific. 1000; Missouri Kan
sas & Texas preferred, 500; New York Cen
trail, Il, 100; North American Company, 3510;
Northern Pacific preferred, 12,100; North
western, 1880; Ontario & Western, 49OO;
Reading, 10,S2O; Rock Island, 1920; st. Paul,
$4,000; St. Paul & Omaha, 10,920 Southern
Railway preferred. 1895; American Cotton
Oil, $500; American Tobacco, 1920; Bay
State Gas, $500; Chicago Gas $780, Gin
cinnati, Hamilton & Indianapolis, 400; Cen
eral Electric, $500; Lead, 1885, Pacific Mail,
1880; Pullman, $500; Sugar $3.50; T.,
c. & T., 1900; Leather preferred,
1920; Rubber, 5,1O0; Western Union,
SO,92O; Chicago Great Western, 1920.
Yesterdays New York stock market was
much more regular than that of Thursday,
the notable advances not being so palpably
manipulated and the concurrent profit-tak-
ing in other stocks not being on so large
9 W
and the average level OF prices raised fur
Their than yesterday. There was a decrease
of activity in the industrial stocks and the
dealings in the standard railroad shares
were largely augmented the buying through
commission houses being confident and on
large scale. The volume of transactions
in the Vanderbilt group, which played such
a conspicuous part in Thursdays market
showed a considerable falling or, but they
retained the sharp gains achieved, and i'll
fact closed higher. Northwestern sold as
high as Thursdays high point, but reacted.
The center of interest in the market was
shifted to ST. Paul, which sold during the
day at SO, net advance of 3%, and which
crossed Burlington during the day on en0r-
the statement of estimated gross earnings
for the fourth week in August, which
showed an increase over the corresponding
week last year of SOS, $50. The rise was stim-
ulated also by the circulation of rumors
without definite authority that the dividend
rate would be increased The statements
of Burlington for July and of Rock Island
for August were also helpful to st. Paul,
along with all he members or the granger
group. Unauthorized rumor had exagger-
ated the gain to be shown by the Burling
ton statement and the stock in consequence
failed to benefit very materially from 1T.
although an increase was shown in gross of
$2S9, 70S and in net of $99.314 Rock Islands
increase in gross for the month of August
was $685. SO. These incidents served to put
the grangers again in the lead of the mar
ket and their strength helped the whole list.
The rise in st. Paul invited profit-taking
not only in that stock, but all through the
list, and though a rally followed, closing
prices were not at the best Sugar moved
up and down in feverish and cratic man.
high record at 1882 and as low as 154la The
grangers and many other stocks touched
new high levels for the year. Louisville q
Nashville was exceptionally strong all day.
and gained points net. Many other stocks
that have been under recent pressure or
profit-taking moved up. This was notably
true of the internationals, Union Pacific be-
ing an exception on account of reports that
the government would oppose the foreclos-
ure sale on which is based the reorganiza-
ton plan. The stock lost fraction. Lon>
don prices for Americans We're higher, and
London bought about 10000 shares on ball
ance. Sharp gains were shown by Tobacco,
Valley preferred 49, Detroit Gas (414), Great
Northern preferred (D, illinois Central,
1.aciede Gas (the preferred losing over a
point, Lake Erie q Western preferred,
Lake Shore, Metropolitan Traction, Mlnne-
apolis & ST. Louis, New York, Chicago ~
ST Louis first preferred, Norfolk q West
ern preferred Oregon Navigation preferred,
St Joe q Grand Island second preferred
and the Rubber stocks. The aggregate sales
of all stocks Appropriated 100000 shares,
and of these 600 We're of ST. Paul ana
Bonds were active and higher total sales
being $S600,00 United States registered
tours sold at 112l4 New follrs coupon at
126, and coupon flves' at ll4A. Total sales,
The following table, prepared by l.. w.
Louis, Room IL, Board of Trade, shows the
range of quotations: - ,,,u,, GU.