The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1897-06-11
LIVELY DAY ON CHANGE
VOLUME OF BUSINESS LARGEST FOR
ANY DAY THIS YEAR.
Smart Rallies Resulted in Strong Adj
vances, That Fell on Near the
CIOse-LOcaI Markets Active.

At New York yesterday money on call
was easy at 1Qi4 per cent; last loan, /;
closed offered at ! per cent.
Prime mercantile paper S1aQ4 per cent.
Sterling exchange was stea.y with actual
business in bankers bills at $4.S67sq4.d for
demana and at $4Sj9444S6 for sixty days;
posted rates, $4S612Q4S7 and Sass; CONNER
cial billk $4.S512.
Silver certificates, $3.50; bar silver, 597sc
Mexican dollars, 471sc AT London bar
silver closed quiet at 2Il2d per ounce.
Total sales OF stocks to-day were 345,345
shares, including the following: American
Tobacco, 1900; Atchison, 5000; American
Sugar, 1920; Burlington. 2S,So0; Canadian
Southern, 1900; Chicago Gas, $500; Della
ware, $780, General Electric, $780, Louis
vile & Nashville. 10000; Manhattan Con-
soidated, 400; National Lead, $500; North
western, 4,1O0; Northern Pacific preferred
1900; Pacific Mail, 800. Reading 1900;
Rock ls1.nd, 1850; st. Paul, 29.zUO Tennes-
see Coai and Iron !2U0; Western Union,
LOO; Southern Railway, $500; Southern
Railway preferred, 1900; New Jersey Cen
trai, 10, 100
Yesterdays New York stock market
showed tue largest volume or trading
cnange for the year thus far, the total sales
or ali stocks oeing nearly 3ot,0UJ shares
The dealings were well distributed through
out the list, many stocks that have lam
dormant Tor q long tlme being called into
activity by the awakened demand for Sc
curiJles among the outside public This de-
mand was indicated by the good commits
sion house buying But there was also
quite extensive commission house selling of
Stocks pointing to the probability that the
continued steauy rise in prices has invited
the marketing of some holdings that have
been kept back for long turn in the
market. The marked strength of the
market during all the early portion of the
DAY was accompanied by more or less
aeSultory SeIilng to take profits but up to
the final hour of the trading all these Of
ferings were absorbed without any marked
enecI. But heavy reanzing movement in
the final hour wiped out large part of
the carrier gain III most securities and all
OF 1t in quite number. The heavy liquida-
ing the market, the selling being increased
by some disappointment that the sugar
schedule of the tariff bill had not passed
the Senate when trading closed and 10 re-
awakened apprehension that it might be
changed in conference between the two
houses so as to lessen the protection on
refined sugar. The resulting weakness of
sugar was as effective in depressing the
market in view of the large volume of it's
sales as its aggressive strength in the
morning had been in sustaining ii. Tine
response of the London market TOR Ameri-
gave strong impetus to the early adj
vance. London was buyer to a moderate
extent OF all the special favorites of that
market. There was some distrust felt of
this London buying by professional traders
on the ground that it may be for short
turn or the market and is likely to come
back here for sales soon. The grangers
We're actively traded in all day, ST. Paul
leading both in volume of transactions and
in extent of the advance, which reached a
point Its reaction was also less than the
others of the group which lost practically
all their gain, Rock Island showing a net
loss. Sugars fall from the high point was
rs, but final rally left its net loss frac-
tionaI The coalers were also notably active
ana strong. New Jersey Central adj
Xanced 31s, Delaware & Hudson 21a and
Lackawanna and all three Reading stocks
over point the latter on very heavy
transactions. Lackawanna held the gain
but the others reacted. New Jersey. Cen
trail and Delaware q Hudson gaining
points net and the Reading stocks frac-
ton. Tobacco was active manipulation
and closed practically unchanged; The iron
and reacted only fraction, Illinois Steel
advancing 2@, Minnesota Iron 2 and Ten
stocks all showed strength, Canadian
southern and Michigan Central gaining ia
and the New York Central and st. Louis
over a point other gains in the group being
fractional Northern Pacific preferred was
very active, but moved very narrowly.
Louisville d Nashville gained IA, Lead pre-
ferred advanced 2 points, Norfolk & West
efn preferred 11a, St Paul & Duluth
points Western Union continued notably
active, advancing IA, but reacting a point
The closing was weak but slight net gains
We're the rule.
market continues TO display pronounced
strength on heavy dealings which include
an extensive variety of issues Purchases
Tor speculative and investment account by
domestic and foreign capitalists gave a de-
cided impetus TO the improving tendency
that carried numerous bonds substantially
above preceding prices. The middle grade
issues figured quite prominently in the
speculation and registered the principal
gains The activity of the usually dormant
mortgages indicates a decided broadening
tendency V hich is indicative of a substan-
tial outside interest in the general market
The speculative issues generally moved
within narrow limits but shared to mod
crate extent in the general Improvement
The sales were 81. ESQ 900.
Government bonds were neglected at the
board, but advanced slightly on bid quota
tons
The following table. prepared by l.. W. Louis.
Room H. Board OF Trade. shows the range of