The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1897-09-08
YELLOW FEVER SCARE
USED BY BEARS FOR EXCUSE TO
HAMMER RAILWAY SHARES.
Heavy Trading i'm Stocks and Several
Changers Scored Gains-LOcaI
Markets Improving.

At New York yesterday money on call
was steady at 1AQ7k per cent; last loan,
IN; closed, 1AG11s per cent.
Prime mercantile paper, SA@4l2 per cent.
Sterling exchange was firm, with actual
business in bankers. bills at $4S61sd4.S61a
for demand and $4.Ss2@4s4 for sixty days;
posted rates, $4s4h@4s51z and $4.Ss1zQ4S71z;
commercial bills. $4SSAq4S31z.
Silver certificates, 531sc; bar silver, SAC;
Mexican dollars, 42Ac. At London bar sill
yer closed steady at Esd per ounce
Total sales of stocks were 636663 shares,
including: Atchison preferred, 14050; Balti-
more & Ohio, 1875; Chicago, Burlington &
Quincy. 3O,52O; Cleveland, Cincinnati, Chi
cago & st. Louis, 6,SS5; Denver & Rio
Grande preferred, 5,755; Louisville & Nash
vile, 25,572 Missouri Pacific, H,525; Mis-
souri,. Kansas & Texas preferred, 1850; New
York Central $3.50: Northern Pacific. a.
720; Northern Pacific preferred, 72,050;
Northwestern, 500; Reading, 81, 425; Rock
Island, 10000; st. Paul, 1920; ST. Paul &
Omaha, 4,4SO; Southern Railway, 800;
Union Pacific 1870; U. p, d. & g. S,40O;
Wabash 1900; Wabash preferred $1,000;
Wheeling & Lake Eric, 400; American To-
bacco. 1920; Bay State Gas, 1920; Chicago
Gas. APO; Consolidated Gas, 4,060 General
Electric. $3.50; Pacific Mail. $500; Sugar,
1880; Sugar preferred, 6.307; r., G. & l.,
1850; Western Union, $500; Chicago Great
Western, $3.50.
The bear party was better defined and
more aggressive in yesterdays New York
stock market than it has been for several
weeks and got the ascendant for time
over the large bull contingent The desire
of some of the very heavy operators In the
bull party to realize profits was itself a
source of weakness. But the bears made
most capital out of the yellow fever in Mis-
sissippi. The stocks of roads which traV-
erse the region Immediately infected, nota-
bly, Louisville & Nashville, We're most
keenIy affected. Louisville & Nashville de-
days close and other Southern roads were
going off in sympathy and with the weight
of heavy realizing sales. These incidents
somewhat interfered with the plan of opera
tons of the bulls. which was not essentially
different from that pursued each day last
week. The stock selected for putting up in
order to sustain the rest of the market
was Northern Pacific. This stock has not
shared in the recent improvement in prices
owing TO the poor showing OF earnings
made in the weekly and monthly reports
of the company. but the apparent weak
ness in earning power of the company was
dsregarded yesterday and the price of the
preferred stock was raised by manlpula-
ton four points, and that of the common
stock about two points Inc ody frau cT
cuation in the street of tip as TO Wnlch
stock was to be pushed up during the day.
This policy was pursued also yesterday,
with the effect of stimulating speculation
in the stock named and aiding the bulls
plan. They were also assisted by llNener
speculative interest on the part OF Lon
don than has been manifested since the
present rise in prices. Prices were higher
in London before the opening in New YORK
and buying for London account was quite
prominent factor during the DAY. Lo lG.n
which had accumulated in commission
house offices over the double holiday were
also effective at the opening In helplng 10
rush up prices. The heavy sales TO reallze,
however and the yellow fever sentiment
soon put stop to the upward movement
and the market was depressed for most or
the rest of the day below saturday close,
the decline from the opening high point ex-
ceeding a point in many prominent shaTeS.
THE buying in Northern Pacific, New York
Central Cleveland Cincinnati Chicago q
St Louis and the grangerS especially
I{IrIington brought the market back to
above Saturdays level or prices, STOCKS
which reamined below being exceptional.
Sugar moved in an erratic manner an Gay
over a range of 215 points. showing
strength for the most part. The preferred
stock rose ga. The industrial stocks gen
orally were somewhat neglected. STOCKS
texcept Reading) Flint & Pere Marquette,
Great Northern preferred, Minneapolis q
ST Louis seconds preferred, Mobile q
Ohio. ST. Joe Grand Island seeo ms
Starch and others to a fractional extent;
Consolidated Gas gained 4 points ana
Hooking Valley preferred ga.
Kalr"a SSo- fr Pacific issues showing
strength and activity Total sales were
Goyernment bonds were strong. New
tours, Il per cent. higher Wy
The following table. prepared by l. w
Louis Room II. Board of Trade, SHOWS the
range of quotations: - nth low CLOS