The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1897-12-23
STOCK LIST IS HIGHER
NET GAINS SCORED ON 'CHANGE IN
SPITE OF DULL MARKET.
COaIers Strong on Reported ADJUST
ment of Coal Rates-LOcaI Mar
kets More Quiet.

AT New York yesterday money on call
was stiff at 21k@4 per cent; last loan,
per cent; closed, 215Q3 per cent.
Prime mercantile paper, 31zG41z per cent.
Sterling exchange was dull and easy. with
actual business in bankers bills at $4.S212@
4.S45s for demand and at $4S11sa4slss for
sixty days; posted rates. $4.S2AQ4.SSl2 and
$4.851kGI4. S61a; commercial bills, $4.S1.
Silver certificates. 56a4G57s4c: bar silver,
$3.50; Mexican dollars. $3.50. At London bar
silver closed firmer at rs 7-16d an ounce
Total sales of stocks. 1874, 400 shares, in
GLIDING: c., b. & O., 11737; Manhattan, a.
925; Metropolitan Street Railroad, SAB;
New Jersey Central, 3,S1S; Northern Pacific
preferred, 4.526; Ontario & Western, 7,245;
Reading 5000; ST Paul, 1850; Chicago
Great Western, $500; Sugar, 1890.
There was nothing in yesterdays stock
market to refute the opinion generally held
in Wall street that speculation in secur-
tiles will continue dull until after the first
of the year and the release of some of the
funds at present locked up in large finan-
cial operations. Sagging prices are gener-
ally the accompaniment of such market.
but there was sufficient strength in stocks
due to special causes to act as a sustain
ing force on the general list and net gains
are tho result in consequence. The coalers
were also aggressively strong and showed
gains of between l and points the Read
ing issues being especially prominent There
were vague rumorS of an intended dividend
on Readings first preferred stock which
influenced he trading. The industrials gen.
orally showed net gains OF quite large frac-
tions. The sta tenents of estimated earn
1ngS for the last quarter Of the year of the
several Vanderbilt railroads were Viewed
unfavorably and acted az something of
drag on the railroad list. In view Of the
large business known to have been done
by these roads the small increase In gross
earnings and in the case of Canada South
ern an actual decrease, were taken as in
dicative of rates for traffic such az prom
tsed only an unsatisfactory return to own,
Der statement of Northwestern, showing
an increase in gross earnings OF SIPS ST. Re,
ports of the adjustment of differences be-
tween Ohio soft coal roads were heard
with satisfaction among the holders of rail-
road securities. Call loans were made at
rates ranging between 3g4 per cent. and
posted rates for both long and short sterl-
ing, being marked down !. and actual bust
ness being done at a decline of Il for cable
transfers of long sterling and Is for demand
sterling. The price for demand sterling at
the time OF the gold import movement last
September did not fall below 81 S4A Money
was cheaper in Europe and in London at
rhat time than now. The present stiffness
IN the money market it is believed will be
only temporary and the completion of the
opesrations connected with the Union Pa
cine settlement and the disbursements Incl
dent to the beginning of the year will give
relief. For this reason the weakness of ex-
cnange mas not induced talk of gold i'm
ports at New York. Gold is however. on
the way from Australia to San Francisco
The bond market was comparatively mac
tive, especially in some of the speculative
favorite issues but prices were Well main
tanned Total sales. 81 100000. United States
Tours, new coupon, declined ssc bid.
The following table. prepared bv T, w
Louis Room IL, Board of Trade. shows
the range of quotations: