The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1897-07-28
COAL STOCKS ADVANCE
MOST OF THE OTHER RAILWAY
SHARES SUFFER SLIGHT LOSSES.
Big jump in Chicago & AItOn-New
FOurs, Government Bonds, Up to
1875 1-2-COndition of Local Markets.

At New York, yesterday, money on call
was dun at l per cent. the last loan being
made at 1 per cent; closing offered at per
cent.
Prime mercantile paper, 9q4 per cent.
Sterling exchange easy, with actual bust
ness in bankers bills at $4S7A@4S712 for de-
mand and $4.S6A44S6h for sixty days;
posted rates. $4S7a4S715 and S4.SSa4.SS12;
cofpmercial bills, $4.S512
Silver certificates offered at soc. Bar sill
Yer, 5SAc Mexican dollars, 45$4c. At London
bar silver closed at 26%d.
Total sales of stocks at New York yester-
day were 1893 $50 shares, including Atchson
preferred, 1885; c., b. & O., 24,417; Della
ware &, Hudson, 4,S2S; Louisville & Nash
ville II, $50 M, X. q r. preferred, APPS;
New York. Susquehanna & Western pre-
ferred, 1920; New Jersey Central 7164;
Northern Pacific preferred 5O3S; Ontario &
Western. $3.50; Reading, II, 537; Rock Island
2S,46O; st. Paul, 1892; Southern Railway
preferred, 3,S6S; Union Pacific, $3.50; Ameri-
can Spirits, 1926; American Tobacco, a. 012;
Chicago Gas, $3.50; Lead, 1926; Sugar,
$3.50; T., c. & l., 3.S2; United States
Leather preferred, 1920; Chicago Great
Western, $500.
The anthracite coal shares advanced con-
siderably on buying by interests always
identified in the movements of coal stocks.
Otherwise the New York market yesterday
sustained slight losses and closed steady.
London purchased some $1,000 shares while
the bulk of the trading for the home ac-
count was sales. While the carrying rates in
LIZ ndon indicated scarcity of stocks there
trading at New York showed that recent
sales from that quarter had been chiefly
to take profits and that there had not been
much snort selling there. Local spectators
nquidated considerably but commission
houses purchases about equalized such
sales, rendering the market extremely ir-
regular. The liquidation in industrial
stocks rather unsettled the list. The gilt
edged securities declined considera Oiy.
Professional traders hammered the grang
eTS, but pool buying subsequently caused a
practically complete rally Although ad-
vices reflected Il good condition of ali the
crops, the bears argued that the weather
was unIdVoraDle Tor growing corn. A large
portion of the reactions OF day due
TO the uncoVering of stop-lOss orders. This
was notably in Sugar, which broke
sharply 4$4 per cent from the opening to
LOBE and closed with a net loss of 23s per
cent the stock showing no evidence of its
recent aggressive support. Tobacco moved
up to 90. and ON liquidation receded to SlA,
but, sharing in the late rally, the price
was carried up to S23sc. Chicago Gas re-
acted U.s. rallied point, and other indus
trials generally receded / to 112 points. The
Rubber stocks We're an exception to the
general industrial weakness. The common
rose 27s and the preferred T. The strength
in Rubber was partly due to favorable ru-
mors connected with the property, which
were denied too late to have any effect.
Among the leading railways, Louisville, on
foreign purchases. was conspicuous for
gain of fraction. Changes in the usually
neglected stocks were quite violent, Chi
cago 81 Alton rising TO 157, against $50 on
the last transaction. American District
Telegraph, on the other hand reacted to
y, against the previous quotation recorded
some time ago of 80. The pronounced
strength of wheat and exceeding weakness
of silver were incidents of the day. The
more important advances of the day were
Delaware s. Hudson, "a; New Jersey Cen
trail 2; Susquehanna IL Western preferred
/; Reading first preferred l3s all being an
thIacite coal roads. With the exception of
the loss of a point each in Pullman and
Mobile & Ohio the notable declines were
confined to industrials, as follows: Sugar
25s; Sugar preferred 5; Tobacco, 1%; To-
bacco preferred, 1; Lead preferred, 13s:
Leather preferred, L; Chicago Gas, /, and
Detroit Gas IL
The bond market displayed a generally
good tone although some light recessions
were made in 4 few of the leading issues
The inquiry for middle grade liens was
quite pronounced, with some mortgages be-
ing benefited by special consideration. The
aggregate sales were 81 800. 600.
Government bonds were in demand with
the new fours, coupon, rising to 1861, the
best price ever noted The transactions
were $52. 900.
The following table, prepared by l.. w.
Louis. Room II. Board of Trade, shows the
range of quotations..