The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1897-08-01

especially the export Of about s.. 100000 gold.
TOP RECORDS SCORED.
Government bonds reflected the public
confidence in making top-price records,
while stocks and bonds long neglected were
active at higher figures, notably those of
Southern and Southwestern railways, owing
to present crop estimates and already i'm
proving traffic. Altogether the market was
broad and many top records were scored.
Reports of earnings, both weekly and
monthly, gross and net, were generally
pleasing, regardless Of the existence of the
great bituminous coal strike. The early
weeks markets were fairly well supported
by commission-house buying but profess
sIonal selling at times brought the quota
were hammered fiercely, the former ulti-
marely registering an extreme loss of 912
per cent, OF which was recovered per
cent. in the subsequent dealings. Tobacco
gained IA, after beng alternately advanced
and depressed as suited the whims Of the
manpulators of this speciality.
The industrial group was generally less
prominent in the dealings, the activity of
the traders being mostly centered in the
railways and usually dormant Specialties.
The scope of the market was appreciaby
extended on Wednesday and a brisk pur-
chasing movement embracing an extensive
variety OF shares enSued. The prominence
OF certain shares gave rise to reports that
powerful interest was operating to
nance values. This received some eredence
and stimulatd heavy covering by the shorts.
Late crop advices were more reassuring.
RumorS of q possible resumption of diVi-
bends on certain internationally listed prop
critics caused London to repurchase heavily
of foreign favorites and take round
amounts of speculative mortgages. The an
thraclte coalers moved spasdomically, but
displayed considerable strength on revived
reports of impending deals and excellent
trade prospects. -
The feature of the silver market was the
fall in bars TO rs 5-l6d in London on
Wednesday and a corresponding fall TO
5ldsc here, with Mexican dollars down to
49, all loW-priced records for the white
metal on covering Of shorts in London
there was partial recovery in the silver
market which subsequently slumped clos
ing at 57zsc for bars and 45Ac for Mexican
dollars.
Money on call was loaned generally at /
per cent. with some few transactions at
IA and small amounts at 2 per cent. The
supply of time money exceeded the de-
mand, but the transactions reported were
at unchanged quotations. The sterling ex-
change market was strong and warranted
the shipment of about $4,000.000 in gold,
portion of which was covered by sales or
bills in the open market. There was also
an export of 100000 gold to Canada. The
continent continues disposed to import gold,
which goes largely into the Bank of
France. Actual business in bankers bills
closed at $4S7$s for demand and $4.S6A for
sixty days.
CHANGES FOR THE WEEK.
The changes of 2 points and over for
the week show twenty nine advances COM
pared with eight stocks showing losses. The
advances were: Consolidated Gas. 912; Chi
cago & Alton, 7; Lake Erie & Western
preferred. 31a; Mobile & Ohio, SA; Northern
Pacific preferred 31s; Oregon Navigation.
3; Omaha preferred g. Oregon Navigation
preferred, 5A; Rubber. 3A; Rubber pre-
ferred, 8; Ann Arbor preferred. 334; West
ern Gas, 312; Atchison preferred, Cotton
oil, Cotton Oil preferred, Brooklyn Union
Gas, Canada Southern, Chesapeake ~ OHIO,
Delaware & Hudson. Detroit Gas Erie
Telegraph, Iowa Central preferred, Lake
Erie q Western Minneapolis & St. Louis
Southern preferred, East River Gas and
Flint & Pere Marquette preferred. The
losses We're: American District Telegraph,
-; Northwest preferred, g. Hooking VAL
ley preferred, 5; Sugar 512; Sugar pre-
ferred, Long Island and Rio Grande az
Western.
The bond market during the week was
characterized by wide expansion in deal
ings which included numerous of the
usually dormant mortgages which huctu-
a,ted materially. The market generally dis
played aggressive strength on the develop
ment of a pronounced inquiry for invest
merit and speculative account which en-
braced all classes of securities. Purchases
for continental account were on a large
scale, but some of the active issues were
sold for foreign account. The aggregate
transactions were SIS, $1,000.
The following table, prepared by L. w.
Louis, Room IL, Board of Trade shows the
range of quotations on Saturday: