The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1897-06-29

LARGE VOLUME OF TRANSACTIONS
ON NEW YORK CHANGE.
Great Animation to Trades with Con-
tinued Upward Movement-Lo-
cal Markets Active.

At New York, yesterday money on call
was easy at 1a114 per Dent last loan, l
per cent. closed, 1Q1A per cent.
Prime mercantile paper 3a4 per cent.
Sterling exchange weak with actual
business in bankers bills at $4S7d4S714 for
demand and at $4.SSd4S814 for sixty days;
posted rates, $4.S7Q4S71a and $4SSq4 SS1a;
commercial bills, $4S5A.
Silver certificates, 602s6607sc; bar silver,
6Ozsc; Mexican dollars, 471ac.
Total sales of stocks were 433 272 shares.
including American Tobacco, u 800; At
Crimson, 7,100 American Sugar, 81 400; Bur-
hngton, 25,600; Canada Southern $1,000;
Chicago Gas, &c, 800; Louisville &. Nashville
10000; General Electric, $50; Manhattan,
5,0l0: Missouri Pacific, 500; National Lead.
100; New York Central, 1900; Northern
Pacific preferred $500; Northwestern, 500:
Omaha 5000; Reading, 11,OO0; Rock Island,
2l,50O; St Paul IS, AGO. Texas & Pacific $500;
Western Union, 1880; Southern Railway,
300; Southern Railway preferred, 49, 700;
New Jersey Central $780,
Yesterdays New York stock market for
securities was marked by the large volume
of transactions and great animation of the
dealings we'll as by continued strong
upward movement Of prices The marked
exceptions to the greatest strength were
the active stocks which have been recent
leaders OF the advance and in which there
was heavy realizing to-day. This realizing
was to large extent by the professional
element and represented simply a transfer
OF holdings from stocks which have moved
freely upward to others that have Jagged in
the advance, their calculations evidently
being that the advance of the Iaggards is
merely deferred. SEcn a transfer was
made on a very large scale from Burlington
TO St. Paul The latter stock has not moved
no ~ hs1y~ aCraT- .af0H TQIIT-
ltngtons relative price has come up from
below that of st. Paul to several points
aledo oL II. MS mas !eo pr0iesSlohdl trau,
ers TO take their prohts in burlington and
10 transfer their holdings to St. Paul. The
jump in the price of St. Paul at
the opening invited some sales of the stock
by the arbitrage brokers for London
count, which served as a partial restraint
on its advance Similar maneuvers to this
transfer were executed at other points in
the list. Considering the proportions of
this liquidation the prices of the stocks af-
fected were singularly firm and steady and
even strong in some cases. A reactionary
tendency was induced at one time in the
market generally, ana the ever-Watchfui
bears again believed their opportunity had
come and sold stocks, some prices reced-
ing below Saturdays closing level This
was notably the case in Burlington and
Northwest. St. Paul led the list with sales
of $4,000 shares and Sugar was less than
! GOO shares behind About 81 coo shares of
Chicago Gas also changed hands The total
sales of all stocks were 100000 shares, which
has not been exceeded nor equaled since
Besides the extraordinary volume of the
transactions, their wide distribution was
noticeable feature. Inc dealings were dis
seminated all through the inactive list, and
even the soft coal roads, whose values are
at lowest ebb of any group on the list.
came Iii for a share of attention. Hooking
Valley enjoyed a rise from 2l2 to 3as. Sugar
showed very aggressive strength all day
and gained 35s net Chicago Gas was also
very strong and advanced rs The only
peculiarities of the market otherwise were
the stocks whose prices declined. Net
gains were the rule and extended to several
points Illinois Steel declined pa without
rally on account of prospective labor
troubles Bay State Gas, Norfolk q West
ern preferred, and st. Louis az San Fran
cisco first and second preferred are also
down a fraction. ,
The brisk demand apparent for railway
and miscellaneous mortgages was reflected
in substantially higher prices for many Is
sues on transactions of $2l60,OOO, OF which
about s. 600 600 was dealt in during the hrst
hour of trading. The purchases of the
high grade securities were characterized by
material fluctuations. st. Paul gold seVenS
registering an extreme rise OF per cent.
The gains elsewhere in the market were
less noteworthy. Round amounts OF the
high-priced list were taken for investment
and spe2ulatiVe account with considerable
condolences with the foreign interests abb
sOrbing offerings of the international prop
critics Government bonds were quiet, but
displayed q firm tone, with some issues I'M
proving slightly. The sales were $500.