The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1897-10-14
STOCKS CLOSED HIGHER
QUICK RECOVERY AFTER EARLY
WEAKNESS IN WALL STREET.
Wide Fluctuations In Certain Indus
trials Affected the Entire Market
Local Business Quiet.

At New York yesterday money on call
was steady at 21z@s per cent: last loan,
per cent; closed, 212@3 per cent.
Prime mercantile paper, 4AQo per cent.
Sterling exchange was easier, with ac-
tual business in bankers bills at S4S414@
4S4ss for demand and $4S2G4S2A for sixty
days; posted rates. $4S212@4S519 and $4.S5@
ASH; commercial bills, $4.81.
Silver certificates, 5712q5Sc; bar silver, SIC.
Mexican dollars, 43s4c. At London bar sill
yer closed steady at 262sd per ounce.
Total sales of stocks were $4,000 shares,
including: Atchison, 3,7SS; Atchison PRE-
ferred, 1888; Chesapeake & Ohio, S,S25; c.,
B. & O., $50; Louisville & Nashville, 15,
240; Manhattan, $780, Missouri Pacific, a.
S2O Missouri, Kansas & Texas preferred,
6,455; New Jersey Central, 1885; New York
Central 1880; Northern Pacific preferred,
N605; Northwestern, $3.50; Reading, 1O0S0;
Rock Island. 19, 400; ST. Paul. 46. $780, ST. Paul
& Omaha, $3.50; Southern Railway, 1921;
Southern Railway preferred, $685. Wabash
preferred, $40; Union Pacific, 1S,34S; Amer
lean Tobacco, $3.50; Bay State Cas- 1906;
Chicago Gas. 101, 525; General Electric, A.,
80; Lead, $780, Pacific Mail, $685.; Sugar,
% $50; Tennessee Coal and Iron, $40; West
ern Union, 1856; Chicago Great Western.
1895.
Yesterdays New York stock market al
most reversed the course traversed in Tues
days market without any change in the
character of the general outlook or the
news. The bears made a further very sue
cessful raid during the day and found nu-
merous weak spots, the decline in some
stocks uncovering further stop-loss orders
and spread the decentralization far and wide.
The aggressive mood of the bears disap
peared during the afternoon and the later
part OF the day saw steady hardening
OF prices which carried the level of the
market quite materially above Tuesday
nights close. The days range Of prices
was very wide, net declines at one time
running from l to points. the latter in
Sugar, which was very active and erratic
all day. AS the recovery left prices from
to points above Tuesday nights close, the
fluctuations for the day are seen to be very
wide. Liquidation during the decline was
very heavy and the volume of trading on
the rise showed a marked diminution. The
operators for the reaction seemed to be
satisfied with the declines they had
achieved and their purchases to cover short
the recovery. But there were also evidences
of some buying for long account. Very firm
resistance was encountered IN some OF the
STOCKS which had SHOWN greatest weakness.
This was markedly true of Chicago Gas, in
which inside buying was very large and
very prominent. The stock during the day
went as low as Tuesdays nights close, hut
the final sales showed a net gain of AS,
showing tuesdays heavy decline more than
CDJOOS
attack by the bears after an
opening gain of point and
points. but recovered 70 about Tuesday
nights level. The movement in the general
list was, to large extent. in sympathy
of Southern and Southwestern railroads
showed less resiliency than those of the
general list owing to the decreased earn
ings disclosed by late statements as a re-
suit of interruptions from yellow fever
quarantine. There were reports during the
be announced towards the end of the week,
but none is known to have neCn made up
TO this time. The actual rates Tor sterling
exchange showed a decline o; Il cent flom
Tuesday nights close, foreshadowing
further gold movement Otherwise there
was nothing in the news of the day to
change the general situation and the strk-
Ing movement of prices can only be as
cribed to purely technical causes. Net gains
are near a Point in many prominent railroad
shares and extend to points in Omaha and
Delaware & Hudson and 1la in Northern
Pacific preferred
Bonds showed weakness in the early trad
ing, but recovered sharply in sympathy
with stock Total sales were 50. 100. 600. Gov
eminent bonds were irm and unchanged.
The governors of the Stock Exchange
met yesterday and approved the listing of
the appended securities: Northern Pacific
Railway Company, Sl.OS6.0OO additional,
prior lien railway and land grant per
cent. gold coupon bonds: Union Pacific,
Denver & Gulf Railway Company. IS, 2i5 600;
Central Trust Company certificates of de-
posit for consolidated first mortgage, per
cent. DonuS, ana Slo, tVU certiHcates OF de-
posit for capital stock; st. Louis q San
Francisco Railroad Company, $9S.S00 COM
mon stock. represented by the voting trus-
tees certificates; Brunswick Company ere
organization committee), $500, zoo; Knick-
erbocker Trust Company. certificates of de-
post first installment paid; Kansas City
Gas Company, SO, 10000 first mortgage ;
per cent. gold bonds of 1922 st. Louis
Terminal. Cupples Station and Property
Company, $2O00,000 first mortgage AZ per
cent, five twenty-year gold bonds of 1911
The following table. preoared by l.. w
Louis, Room II, Board of Trade. shows the
range of quotations: