The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1897-11-24
NET GAINS IN STOCKS
SMALL TRADE CONFINED MOSTLY TO
THE ROOM OPERATORS.
Continuance of Mondays Strength In
Few Active SharcS-LocaI Bus
mess the Best I'm Years.

At New York yesterday money on call
was easy at 1872 per cent, last loan ia.
Prime mercantile paper, 3Aq4ls per cent.
Sterling exchange was firm, with actual
business in bankers bills at $4.S512d4S5s for
demand, and s4S27s@4.SS for sixty days;
posted rates, $4.S312Q4S61k; commercial bills,
AS2
Silver certificates, 5Sd59c; bar silver, 5S3sc.
Mexican dollars 451sc. At London bar
silver closed steady at 271sd an ounce.
Total sales of stocks, 15s,5OO shares. in
cluding Chicago, Burlington & Quincy,
1860; Manhattan l., S,14O; Metropolitan
Traction, 5,S25; New Jersey Central, 5,SO7;
Northern Pacific, 4,742; Northern Pacific
preferred, $3.50; Reading, 1890; Rock ISL
and. 4,640; st. Paul, 1924; Union Pacific,
ass; Bay State Gas, $3.50; Consolidated
Gas, 1903; Sugar, 17.725.
Yesterdays New York market for stocks
was the reversal of Mondays, and repre-
sented nothing but the operations of room
traders outside few stocks. The list gen.
orally shows small net gains on the covering
of short contracts. There was a continu-.
ance of the strength shown Monday in the
Northern Pacific stocks, and especially the
preferred which rose 1ss by the close. Met
ropolitan Street-railway and the Rubber
S@ON~AD
over point. The strength of the Rubber
stocks was due to rumOrS of the proposed
alb orption of competing company Con-
soldated Gas was notably weak all day in
the doubt which is persistently kept alive
concerning the prospects of the merging of
local gas companies. 1t showed an extreme
decline of 61l points, but recovered part
of this. Brooklyn Union Gas lost a point in
sympathy The stocks of the American
Spirits Company showed extreme weakness
on the reports of the demoralized condition
of the trade. The common stock fell during
the the final ina hour to a point "a per cent be-
3B per cent. Both stocks rallied very
feebly. The coalers also inclined to weak
ness, though they showed some recovery
from the lowest. There was some selling of
Union Pacific, probably induced by the call
Tor the payment of the 30 per cent. assess
exceed R, and was recovered before the
close. Leather preferred was weak, and
lost over a point on disappointment that
the dividend as declared was limited to /
per cent. There was some little selling of
ST. Paul and Northern Pacific preferred for
London account, but without perceptible
effect on this market. A feature of the day
was a further rise of IS in the actual rates
for sterling exchange. This, in the face of
continued very heavy outward movement
of merchandise and of selling of securities
here for London account of insignificant
proportions. The weeks exports of mer-
chandise from New York exceeded those of
last week by 1864, 400 in value and are al
most as much in excess of those for the
corresponding period of last year. The dull
ness and firmness of the exchange market
are undoubtedly due to the lending of
money abroad in preference to drawing on
1T by exchange bills. A Chicago bank Of
fetal is authority for the statement that
several million dollars of Chicago money is
now loaned In England and the continent.
and the total amount of money owing to
persons in the United States but left to
draw the higher rate of interest in England
and on the continent, undoubtedly mounts
up to many millions, though no accurate
estimate can well be made of it.
Trading in bonds was active, and prices
were for the most part firm. Total sales
$685. goo. United States new tours rose x,
and the old fours, coupon, and the fives,
registered, declined "A bid.
The following table, prepared by l.. w.
Louis, Room IL, Board of Trade, shows the
range of quotations.: