The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1897-11-23
NORTH PACIFIC ACTIVE
NOTABLE EXCEPTION IN THE DE-
PRESSED STOCK BUSINESS.
General Result of Days Trading ON
cIines-LOcaI Markets Lively.

AT New York yesterday money on call
was steady at 119q2 per cent; last loan,
per cent; closed, 2 per cent.
Prime mercantile paper, 3AQ412 per cent.
Sterling exchange was steady, with
tual business in bankers bills at $4S51aQ
$4.S55s for demand and at s4.s2s4 Q4.S27s for
sixty days; posted rates, $4SS1s and $4.S615;
commercial bills, $4.S2A.
Silver certificates, 58Q59c; bar silver,
6SSsc; Mexican dollars, 1850. At London
bar silver was steady at 16 15-16d per ounce.
Total sales of stocks were 181, 700 shares,
including: Chicago, Burlington & Quincy,
1897; Manhattan, 1856; Metropolitan
Street Railway, 9,725; New Jersey Central,
1856; Northern Pacific, $40; Northern Pa
cific preferred, 2S5S0; Rock Island, 5000; ST.
Paul, 12,443: Bay State Gas, 4O4O; Consoli-
dated Gas, 6,S45; Sugar, 1897.
There was not much change in the char
acter of the general dealings in the stock
market yesterday, but some special stocks
showed marked strength and some others
marked weakness. Trading was for the
most part dull and narrow, and resulted in
small net losses generally in the railway
list The Northern Pacific stocks were no
table exceptions in this portion of the list,
and developed quite aggressive strength as
the day progressed. The preferred stock
closed with net gain of 1ss and the COM
mon with net gain of rs, The motive
earnings for the second week in November,
the cOFres E,s5 liz period Of last
cent Following a strong statement
for the first week the effect was to create
strong demand for this stock by local OPP
orators, which carried the price up, in spite
OF some selling for London account. An
other feature of the days trading was the
conspicuous strength shown by the stocks
of local corporations. The motive as
signed to this buying was the expectation
of corporate benefits and privileges. Met
ropolitan Street Railway was the leader in
this class, and it touched lis early in the
day, which was 5s4 above Saturdays close.
1t closed a point lower. Consolidated Gas.
Gas, with rise of 1B Manhattan, with
the same amount and Brooklyn Rapid
Transit, which was at one time 11s above
Saturdays close, were other examples. All
of these reacted greater or less extent,
notably Consolidated Cas- which closed
small fraction under Saturday. On the 9TH
er hand the coalers were notably weak,
New Jersey Central showing an extreme de-
crease of rs points and Delaware & Hud-
son Ia, the latter rallying over a point.
Outside of these the market was dull and
without general interest One of the Incl
dents of the day. was the first payment to
the government by the Union Pacific reor-
ganization committee on account of the
foreclosure sale. The amount of the pay
ment was $13,615,250. The transaction was
committee on account deposited in one of
the city banks to the government which
saves the amount on deposit in the same
bank, the bank having placed government
bonds in the treasury at Washington as se-
our1ty. The transaction was completed
without creating a ripple in the money mar
ket. The remainder of the purchase price
is to be paid in four equal installments
the first OF which will be paid on Dec.
and the remaining three at intervals of ten
days. Each installment is about S. 900 600
and no apprehension is felt that they will
create any disturbance in the money mar
ket. -
The bond market was quite strong and
showed considerable activity. High-grade
bonds We're in special demand and were
stiffly held. the offerings being light. For
eign holders continued to sell this class of
securities, invited by the high prices pre-
vailing. Total sales, $1,550O00 United
States fours, coupon, of 1907 rose "a bid to
HAS and sold at that, which is equal to
the price Of the tives. The new tours were
Is higher bid.
The following table. prepared by L. w.
Louis. Room IL, Board of Trade shows
the range OF quotations: