The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1897-08-27
STOCKS SCORED GAINS
BUYING DEMAND FELL OFF, But
PRICES CONTINUED VERY FIRM.
Small Tendency Toward Improvement
in Price of SiIver-LOcaI Bus
mess Satisfactory.

At New York yesterday money on call
was easy at 1@112 per cent; last loan; IA;
closed, 101A.
Prime mercantile paper, 3a4@41a per cent.
Sterling exchange was firm, with actual
business in bankers bills at $4.S51s for de-
mand and 1882 for sixty days; posted
rates, $4.sfzQ4851z and $4.S61zQ4.S7: COM
mercial bills, $4.S2d4. S215.
Silver certificates, 5112d52c; bar silver,
Big; Mexican dollars, 4014c. At London bar
silver closed a 2334d per ounce.
Total sales Of stocks were 100000 shares,
including: Atchison preferred, 1O,55O Ches-
apeake & Ohio, 22,3O0; Chicago Burlington
& Quincy, 1880; Cleveland, Cincinnati,
Chicago q st. Louis, 3,13O; Missouri Pacific,
$3.50; New York Central 11,035; Northern
Pacific preferred, 3,41O Reading, 4545; Rock
Island, 10 501 st. Paul. 1867; American To-
bacco, 1926; Bay State Gas, 1850; Chicago
Gas, 1926; Laclede Cas- 2,720 Sugar, TO- 40;
Chicago Great Western, Oils.
The striking fact about yesterdays New
York stock market was the absence of any
large offerings to sell. The sharp rise Of
prices at the opening was on very mod
crate volume of purchases. The buying de-
mand fell off almost Immediately, but
prices receded very slightly and held firmly
in face of an almost stagnant demand. The
big buyers were practically out of the
market, and even the small demand
showed few stocks forthcoming, so that
prices moved easily in either direction.
Even with the condition so inviting to
manipulation, the market was apparently
neglected by all interests, ana many stocks
which have been active in the recent trad
ing did not move at all during the entire
day The total sales, Z20OO0 shares, is the
record
more animation was manifested in the
bond market and prices there were strong
exercising sustaining influence on stocks
The quietneSs which has fallen on the
stock market is due to somewhat I'M
settled conviction as to the SAFETY ana
final dimensions of the corn crop The mer-
curial condition of the grain market mas
aroused a condition of doubt In the minds
OF stock traders, ana they are waiting Tor
more fixed conditions before putting FUR
Their money on a large scale into stocks
The strength of individual stocks helped 10
sustain the market which was in that re-
spect almost a repetition of Wednesday
Missouri Pacific was strong and sold at the
opening Ia above the previous night 3
close The stock was in good demand all
day and closed with a net gain of 49,. The
Vanderbilts continued in good demand ana
Tadiated strength through the market
Chesapeake & Ohio was most largely dealt
led the list with sales of 5000 shares
Cleveland, Cincinnati. Chicago 81 st. Louis
preferred was bid up to 7S, as against 20
the previous sale. During the latter part
over a point above last nights close. The
buying at the close which was most promTl-
nent in the grangers, carried the market
10 the highest level of the day, Rock Island
leading with net gain OF "a per pert cent fad
tor in view of the small volume of trading.
The sales for the day for London account
were estimated at $1,000 shares. only the
three leading grangers, Chesapeake q ONO
and New York Central were dealt in to the
extent of 10000 shares. Net gains OF a
sharp fraction were general all through the
list at the close and extended to S12 IN
the case of Norfolk & Western preferred
10 in Laclede Gas and point in Michigan
Central Lake Erie & Western lost point
and Manhattan, Tobacco, CANADIAN Paclnc,
Colorado Fuel Consolidated Gas General
Flectric Northern Pacific and Southern
preferred a fraction.
The railroad bond market was active Tor
sneculative issues at higher prices. Gov
eminent bonds sold fraction higher To-
tai sales of bonds amounted to %2lOOoO:
The following table, prepared by Il. w.
Louis, Room IL, Board of Trade shows the
range of quotations. r QUO