The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1897-09-10
STRONG STOCK MARKET
ST. PAUL ABOVE PAR AND NEARLY
ALL SHARES WE'RE HIGHER.
Heavy Dealings Largely i'm the Nature
of Profit Taking Early i'm the Day
Local Trade steady.

At New York, yesterday, money on call
was easy at 1A91lz per cent; last loan, IA;
closed at 1AG111 per cent.
Prime mercantile paper. SA441s per cent.
Sterling exchange easier. with actual
business in bankers bills at S4S6d4S6k for
demand and at s4s34Q4s4 for sixty days;
posted rates. s4.841sG4.s51z and S4.S614Q4S7;
commercial bills, $4.S212.
Silver certificates, 53d54c. Bar silver,
53lfc. Mexican dollars. 43c. At London bar
silver closed dull at 25d per ounce.
The sales of stock were .69e shares, in
GLIDING: Atchison. 9,225; Atchison preferred,
29.225; Canadian Pacific, 35O5; Chicago, Bur-
lington & Quincy. %. SO9; Cleveland. Cincin-
nati. Chicago & st. Louis. 1900; Erie, new,
3635; Illinois Central, 1855; Louisville &
Nashville, l343); Manhattan L. 1850; Mis-
souri, Pacific, 1870; Missouri, Kansas &
Texas preferred, 313O; New York Central
6,075; Northern Pacific preferred 1850; On
tario & Western, 3140: Reading, 9525; Rock
Island 19, 720; St. Paul, 139,725; Southern
Railway, 5.435; Southern Railway preferred,
22320; Union Pacific, 1860; Union Pacific
Denver e. Gulf 3S15; Wabash preferred,
1860; Wheeling & Lake Erie 10 1895; Ameri-
can Tobacco. 2O.155; Bay State Gas, 24,O2O;
Chicago Gas H525: General Electric $3.50;
Laclede Cas- $500; Lead. 1920; Pacific Mail.
6,120; Sugar, n,127; Tennessee Coal and Iron,
1880; Western Union, 1920.
The New York stock market responded
to higher quotations in London with a
fractional rise at the opening it re-
sponded Wednesday with a decline. The
advance in Illinois Central extended to rs
and in Southern preferred point, and the
latter stock held remarkably firm all day
in face of heavy iiquidatiOns all through the
market. Illinois Central rather unaccount-
r1w~ atr,fr Vic
brilliant achievement in earnings disclosed
by the August statement reporting an in
crease over August last year or soil, rs;
The detailed statement for July showed
that the increase in net earnings fell just
short of $4,000. The stock rallied later
and closed with net gain The market
sGnk quite weakly under the heavy realizing
movement in the m )rning. London buying
invited realizing sales, and it is quite likely
that the failure of a large outside broker
age house mad something to do with the
heaviness on account of the liquidation en-
tailed on agents on the floor The decline
extended to 15s in st. Paul. 13s in Northern
Pacific preferred and an average of a point
in d large number of leading shares. The
assembling of the ST. Paul directors with
a quorum present was the effective infiu-
cree in checking the decline on account of
the prevalent belief that an extra dividend
would be declared. When it became known
that the decision of the directors was in
favor of making the extra dividend l per
cent. the stock mounted up strongly to par,
which 1t touched for the first time in four
teen years The price reacted a fraction
then. though the maximum nad Deen
reached, but a renewed impetus was i'm
parted by the enormous buying of all that
offered and the price was lifted to 101 and
Held there till the close. Sales of St. Paul
were over $4,000 shares This lively adj
vance affected the other grangers by SYM
patty and extended an improved tone all
through the list. The renewed strength in
the grain markets, the reports of heavy
traffic on railroads and the improvements
in earnings helped the rally. Oregon Navi-
cation showed an increase of $223,SO6 for
August. Rock Island. Atchison preferred,
Missouri Pacific, Louisville & Nashville,
Northern Pacific preferred all scored nota-
BILE recoveries In the SpecialtieS General
Electric rose 49, but reacted a fraction.
National Lead gained Us. Manhattan adj
vanced at one time nearly two points, but
closed with O net gain of point. The coal
ers were heavy, the decline extending to
point in Delaware & Hudson The prospect
of a settlement of the coal miners strike
caused some movement in stocks OF soft
coal roads. Chicago Gas wNs in good de-
mand and gained over point. Other no.
table gains were: Chicago & Alton, 4; Con-
solidated Gas, Az; National Starch first pre-
ferred A. and Oregon Navigation, "a.
Dealings in bonds again centered in the
Atchison issues. Central of Georgia nrst
incomes advanced AS. Total sales were
81 100000 United States old tours, coupon,
advanced Il per cent. bid.
The following table, prepared by H. w.
Louis Room IL, Board of Trade. shows the
If ouotafiOnS.