The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1897-01-06
STOCKS CLOSED HIGHER
FLUCTUATIONS WERE IRREGULAR
\ TRANSACTIONS SMALL.
Washington Spectators Gambling on
Markets steady and Dull.

At New York yesterday. money on cali
was easy at Il9a2 per cent; last loan. 2;
closed. 1i3a2 per cent.
Prime mercantile paper. s1.94la per cent.
Sterling exchange was steady. with actual
business in bankers bills at $i.s64I4S6I%
for demand and &.S3tza4S5A for sixty
days; posted rates. $.sfGi.s4h and S.S7n
Ash. commercial bills, $4.S2Iz.
Bar silver. efA.c; silver certificates. 6i%ia
s51tc- Mexican dollars. 5OAc. AT London
bar silver closed at 2s4d per ounce.
Total sales of stocks were lO6. 554 shares.
including: American Tobacco. 500; Bur-
lington, Il. 40; American Sugar. 1900; Lou
isville & Nashville. 1900; Reading. 100: ST.
Paul, 12.20oa Wheeling & Lake Erie. $500.
Business in stocks yesterday was again
OF very slender proportions, with an irregu-
lar movement, and the market frequently
bordered on stagnation. In the forenoon
session lower prices were current on mod
crate pressure against the specialties.
The losses scored were not expensive,
however. az the traders. partly on account
or the lack of pressure of long stock, were
indisposed 30 commit themselves to any
important extent On the short side. In
certainty regarding the attitude of Con-
gress on the Cuban and other important
considerations restrict ventures upon the
long side, and hence the speculative apathy.
More favorable exhibits of railroad earn
ings. inclucing the Louisville & Nashville
figures for the fourth week of December.
were followed. about 1890 p. m, by Wash
ington advices announcing a postponement
OF action Oh the Cameron Cuban resoIu-
ton. in which many of the leading stocks
scored material gains. Besides the covering
orders, buying that was called fairly good
was noted. and Washington houses were
conspicuous in the rise. improvements in
the SpeciditieS were exceptionally large
and the gas stocks were more prominent
than for some time past. Consolidated Gas
Jumped ia to lf24 on covering of shorts.
without any special explanatory news or
runors- Bay State Gas fuctuated widely.
out eventually gained a point on rumors
tnat a compromise had been reached be-
tween conflicting interests. The reduction
OF ? cents per pound i'm the price of Battle
Axe plug tooacco. the fighting brand OF the
American Tobacco Company, after the re-
cent conndent stories of a more pacific I'M
outstanding between the company and the
outside manufacturers, encouraged "A raid
on the stock. forcing the price down 1L.c.
Insiders were reported buyers at the low
level. and the loss was soon rcgained.
Union Pacific doomed into prominence on
purchases attributed TO reports suggestive
OF developments favorable TO the company
in connection with funding operations. The
srdngers and Southwesterners were also
conspicuous in the advance, and l.. & II.
rose ls per cent on the earnings above re-
Icrred TO. In the afternoon some moderate
bursts OF activity were noted. particularly
in the low-priced stocks The closing was
strong with comparative figures showing
improvements OF a point o. Whereabouts in
many stocks.
There was an increase i'm activity in the
usually neglected railroad bond issues and
higher prices were generally recorded. The
sales were N.DLtD1. : The principal gains
ranged from / to p. per cent. The declines
extended from l to ) per cent.
Government bonds were weak and lower
on proft taking. The sales were $i3. 500.
Business in State issues was confined TO
purchases of $4,000 Virginia Centuries at
slight hanges.-
The following table. prepared by l.. w. Louis.
Room III, Board OF Trade. shows the range OF
quotations.: