The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1897-08-17
SILVER STILL FALLING
BAR DECLINED TO 81 3-sC, PUTTING
MEXICAN DOLLARS AT Al $50.
Less Activity I'm Stocks and Early
Gains Mostly Wiped Out-LocaI
Markets Continue Active.

AT New York, yesterday, money on call
was easy at 1@1h per cent. last loan, 11a
per cent; closed offered at 11A per cent
Prime mercantile paper, 312@4A per cent.
Sterling exchange was weak with actual
business in bankers bills at $4.S51a04.852. for
demand and at $4.S314a4.S31a for sixty days;
posted rates. $4S4AQ4S6 and $4.S61za4S,;
commercial bills, $4S21R.
The price of silver fell again to-day to
a new low record. The fall in London since
Saturday for bar silver was quarter of a
penny TO 25A pence per ounce, and in New
York the price declined 5sc, to 543sc. Silver
certificates. 55q5o12c. Mexican dollars were
quoted at 413sc, as compared to 42c on Sat
urday AT the bid price for silver in New
York the intrinsic value of the standard
silver dollar is 4225c.
1t is estimated that something like $4,000
shares of stock consigned to various bank
ing houses and some private individuals
came from England and other continental
cities on the steamship Campania, which
arrived at New York last Saturday. One of
the American liners which left SOuthamp-
ton few days ago is also bringing over a
large number of shares.
Total sales of stocks yesterday were 413, 161
shares. including Atchison, 3,445; Atchison
preferred, 2Sll2; Chesapeake Il Ohio, q 500:
Chicago, Burlington & Quincy "A, APO; Den
Yer & Rio Grande preferred TO- 450; Louis
Vile & Nashville $3.50; Manhattan l., 1860;
Missouri, Kansas & Texas preferred, 3.70S;
chicago, indianapolis * Louisville, 1850;
New York Central, 23,20l Ncrthern Paciuc.
1885, Northern Pacific preferred 1880;
Keading 5,,zJ; Rock Island, $40; St Paul,
54Zto, St. Paul ~ Omaha, 3,5l5; Southern
hallway preferred, 400; Union Pacinc, To-
UoO, Union Pacific, Denver d Cult $40;
American Spirits, $40; American Tobacco
S,4SO. Bay state Gas, 3,O6D Ifnlca
1926 Pacific Mail, 4,135 Sugar 80 lZ0; Chr
cago Great Western 1920 Western Union,
4,S50.
There were periods yesterday when the
New York market for stocks had an ap-
pearance of actual dulness. But this was
only by contrast with recent markets. The
total sales fell below a half million shares
by over $1,000, which is what it did not do
Tor any whole trading day last week. There
was a large falling off also in the activity
in the bond department. Whatever Strik-
ing animation there was was in the first
bonr of tradine The h,,,,inrT di,rinG III
period was brisk arbitrage brokers joining
with the commission house agents to swell
the demand. This represented the working
OF OF the accumulation of orders received
by commission houses over Sunday. Lon
don was buying some of the international
SHARES at the same time that 1t was selling
others. AS result of this lively demand
prices bounded lightly upwards, new high
record prices for the year being made in
number of prominent stocks. The grangers
were actively traded in at the higher level,
Burlington showing the sharpest GAIN but
st. Paul being most actively dealt in. St.
Paul was the leader of the list and was
quite largely bought for London account.
Burlington touched 99Ac in the opening
dealings, but closed a point below that.
The other grangers moved over much
narrower range, but closed only little
above the lowest. The upward bound of
prices at the opening invited realizing sales.
The professional bears added their utmost
efforts. They had in their favor some re-
result soon a reaction in prices of
erangers and Southwesterns which had
no fbaffA off fln -Irln 1tcf
Prices of many stocks were carried below
Saturdays close. Although there was "a
1lrmer tone later and some slight recoVeries
the market failed to fully regain its tone
before the close and consequently prices of
most of the active leaders OF. the market
show only slight changes from yesterday.
The net changes, though slight, are mostly
gains. one or two of the grangerS being
exceptions. The undertone Of strength in
Tested by the dizziness that set IN on the
decline in prices. Sugar again assumed
a new high record, li9l2, but reacted
nearly point before the close. Tobacco
was also largely dealt in, opening at
sharp gain, but selling off during the day:
Chicago Gas also showed some signs of
renewed activity, but 1t also suffered from
the reaction to the market While the early
strength carried many stocks TO point
or over above Saturdays close, the gain
WAS In most cases practically wiped gut out.
peake & Ohio and Cleveland Cincinnati.
Chicago & St. Louis. were notably firm all
day closing near the top. The latter's pre-
ferred stock was bid up points. Other
notable gains are: Rubber preferred, S3s;
SpiAts preferred. 2ls: Flint & Pere Mar
quette, 27s; Cotton Oil preferred Central
Pacific, Great Northern preferred. Metro
poltan Traction and Rubber Common
The bond market showed marked dimi-
mutton in the volume of trading as COM
pared with recent averages the total fall
Ing short Of 81 100000. The speculation also
lacked aggressive strength, but the market
was fairly well supported and some SUBJ
etantial gains were registered in the less
known issues. The aggregate transactions
were 81 ,937, 600
Government bonds were heavy and
receded a fraction on light offerings
The following table, prepared by l.. W.
Louis. Room H. Board of Trade, shows the
range of quotations:
Open High Low Clos