The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1897-07-17
STOCKS SHOW FIRMNESS
INTELLECTUAL ATTEMPT OF THE
BEARS TO CAUSE A DECLINE.
Foreign Demand for Cereals Helps the
Price of securities-LocaI Mar
kets Doing Better.

At New York, yesterday, money on call
was easy at 1q1A per cent; last loan, l
per cent; closed, per cent.
Prime mercantile paper, Sq4 per cent.
Sterling exchange was steady, with actual
business in bankers bills at A.S7q4.S7A for
demand. and at $4.S6G4.S6A for sixty days;
posted rates, $4.S7G4S71a and s4.SSQ4SS12;
commercial bills $4,S5.
Silver certificates. 6O14@6O5sc; bar silver,
60Ac; Mexican dollars, 1870. AT London
bar silver closed firm at 275sd per ounce.
Total sales of stocks were 156,570 shares,
including: Atchison preferred, 6,466; Chi
cago, Burlington & Quincy 5,675; Louisville
& Nashville, L, $50; New York, Susquehanna
& Western preferred, 4405; Reading. $3.50;
Rock Island, 5,220; American Spirits pre-
ferred $500; Chicago Gas, $3.50; Colorado
Coal and Iron preferred, 3120; Oregon I'M
provement Company, 1870; Standard Rope
and Irvine, 10, 175.
The New York stock market, which
dropped trif1e Thursday, was looking up
a bit yesterday, active securities closing
strong and fractionally higher. while usual
ly sOmnolent low-priced stocks were
aroused by a fair demand. The meagreness
of the dealings, however indicated but low
interest. Besides reiterations of wheat
prospects above the average there was fur
Their evidence of diversified foreign demand
for cereals denoting shortages abroad and
rather confirming the suppostion that the
European requirements for wheat will be
prices for both crops. The unprecedented
exports of merchandise for the year end
ing June 30, as set forth in the government
report, was a hopeful sign as was the fact
that the high prices current for active rail-
road stocks is accompanied by but little
local liquidation. Prices tended upward in
the early trading accompanied by some
manipulation in certain cheap specialties
The bears received a facer, when during
the afternoon dullness they sought to pre-
cipitate selling of the genefal list. After
brief reaction the market steadied and
oil fho IaGf
late trading. Some general inquiry for in
Vestment securities deprived the market of
some of its wonted professional appear
ances. Sugar failed to reflect uneasiness at
the circumstantia reports that there was
movement in the Senate itself favorable
to the House schedule, the stock vacil-
latng within narrow range for so
ratio security and closing at fractional
advance. Louisville & Nashville rose ia
small amounts on the rise. The advance of
"a in Pittsburg, Cleveland, Chicago & St
Louis preferred and the fractional rise in
Inc common was occasioned by the June
statement showing that the net profit had
increased $l25.203 over the same month of
last year. The rise of Az per cent. in East
River Gas accounted for subsequent
TO the markets closing by official cir
GUAR announcing the purpose of the Equi
table ana East River Gas companies to unite
as foreshadowed in these dispatches last
night. Brooklyn Union Gas showed a sym
Gas the only company not eligible to come
into consolidation. lost fraction. Ameri-
can Spirits attracted attention by some
activity and gained fractionally for the day.
Trading in bonds in large volume
and there was no abatement of the ag-
gressive strength that has marked recent
trading. Fluctuations were unusually wide
+ In some cases and were principally in the
direction of higher prices. improvements
in the more active liens were restricted TO
fractional bounds. but advances among the
usually inactive securities ranged up to
per cent. with Peoria 6. Eastern irsts lead
Ing The aggregate sales were 50 900
Government bonds were quiet but decidedly
firm.
The following table. prepared by L. w
Louis, Room II, Board of Trade shows the
range q ouotationS.