The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1897-06-24
HIGHEST SINCE PANIC
GRANGER SHARES sTRoNG AND
PRICES CONTINUE TO ADVANCE.
Decided Strength Characterized Oper-
atoms in Securities-LOcaI Markets
Active and Prices Firm.

At New York, yesterday, money on call
was easy at 1@1A per cent; last loan, l
per cent. closed at 1@1A per cent.
Prime mercantile paper, SQ4 per cent.
Sterling exchange was firm, but very dull,
with actual business in bankers bills at
$4S74G4S71a for demand and $4.S61sQ48613
for sixty days. posted rates, $4S7@4871a and
a. SSGl4. $50; commercial bills, $4.S612.
Silver certificates, 6O1sG6O5Sc; bar silver,
601ac; Mexican dollars. 473sc. AT London
bar silver closed steady at q 9-16d per
ounce.
Total sales of stocks were 270,330 shares,
including: American Tobacco, 1900; Amer
lean Sugar Refining 1920; Burlington &
Quincy, 1880; Chicago Gas Trust receipts,
rs, 400; Delaware & Hudson, 5000; Louisville
& Nashville, $500; Manhattan Consolidated,
1900; Missouri Pacific 4,OO0; Northern Pa
cific preferred, $500; Omaha. 200; Reading,
L., SOQ Rock Island, 5000; ST. Paul. 10000;
Western Union 3,O00 Southern Railway pre-
ferred, $500; New Jersey Central, 1900
Yesterday was another day of marked
strength in the New York market for
stocks the dealings being large and the
buying demand keen, so that the tendency
of prices was strongly upward There were
ups and downs during the day, the latter
on protit-taking for the most part, but
the close of the days trading found prices
generally above Tuesday nights close. The
outside interest in the market shows large
increase and commission houses report
great accession of orders of a speculative
character following the solid investment
buying that has been going on for some
time and which the days developments IN
dictate is still going on. The buying was al
most wholly result OF the confidence in
the general outlook for business. There
was little news accompanying the upward
movement of prices, and therefore little to
record beyond the mere changes in prices.
Good buying continued in Northwest, but
the price OF the stock moved quite
rowly, affecting the price of other stocks
by sympathy about as much as itself
The grangers were all in keen demand
and showed a substantial gain on the day.
The was true of all Western and
Southwestern railroad properties, where
the crops promise to be abundant and bring
business Improvement all through these
sections. Sugar and Chicago Gas We're both
under pressure at different times during the
day and held back the market. When
these two stocks came into harmony with
the market and moved upward the highest
prices of the day We're recorded for many
stocks. The strength In the coalerS de-
Veloped after noon and the movement in
the group became strong and aggressive
and the dealings quite animated the rate
at which prices rose was an indication that
there is not 5arge qua anlfy OF these tS
market. Sharp advances in some of the
high-priced investment stocks were fea-
ture New York, Lackawanna & Western
jumping 315 the sale of one hundred
shares The volume of dealings was large,
but Sugar ST. Paul, Chicago Gas, Burling-
ton. Reading and Tobacco absorbed half
the total sales. ST. Paul, at S0A, touched
the highest price since the panic of 1893.
The announcement of an additional ship
ment of $3.50 900 in gold by to-dayS steamer
only affected the market for brief time.
The gains in the coaers extended to 213
for Delaware & Hudson, pa for New Jer-
sey Central tor Lackawanna and Ia for'
Reading tirsts preferred. SusqUehanna ~
Western lost a fraction. Tobacco jumped
g. to H. and reacted Ia, while the preferred
stock gained a similar amount and held it.
Other gains We're: Pullman, 2, and Iowa
Central Lake Erie q Western, Lake Erie
q Western preferred, Louisville, Illinois
Steel Lead preferred, Consolidated Ice and
Consolidated Ice preferred gained point
or over. Sugar moved over Il range OF rs,
but closed u off on the day.
The bond market showed no abatement
of the decided strength that has charac-
terized its operations for some time. The
speculation was quite broad and material
gains We're established in many lines. The
middle-grade securities were largely dealt
in and registered the extreme improve
mentS, which extended to AZ per cent. IN
Peoria, Decatur & Evansville hrSts, Evans
vile division. The aggregate sales We're
u, 6yS, 600. Government bonds were neglected
at the board but bid quotations were
slightly higher.
The governors have decided not to grant
should adjourn over from Friday July .
to Tuesday, July g. The adjournment will
be only from Saturday until Tuesday.
The following table, prepared by l.. W.
Louis, Room IL, Board of Trade shows the
range of quotations: