The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1897-12-24
STOCK MARKET ACTIVE
SEVERAL GOOE BULy.IsH NEWS
ITEMS COME TO THE FRONT.
Treasury Department VIII Relieve
New York Money Market-LOcaI
Trade Falls in a Rut.

At New York yesterday money on call
was firm at Sq4 per cent; last loan, per
cent; closed, Slz per cent.
Frirle mercantile paper, 31k14 per cent.
Sterling exchange was weak, with actual
business in bankers bills at $4.s4AD4S4ss
for demand and at A.S1AQ4s1as for sixty
days; posted rates, $4.S215G4.SS and $4.S51zQ
AS6; commercial bills, $4S01a@4S1.
Silver certificates, 57ssQ5S14c; bar silver,
67ssc; Mexican dollars 455sc. At London
bar silver closed at 2S1zd an ounce
Total sales of stocks, $4,000 shares, in
GLIDING: Baltimore g. Ohio, 5,4S9; Chicago,
Burlington & Quincy, 1929; Manhattan,
4,545; Metropolitan Street Railroad. $500;
New Jersey Central, CHA: Northern Pa
cific preferred 5,52S; Reading, 4,s3O; Rock
Island. 1870; st. Paul, $3.50; Union Pacific,
5,405; Chicago Great Western, 7610; Peoples
Gas, $500; Sugar. 10000.
Several factors combined in the last hour
OF trading on the stock market yesterday to
lift it out of the dizziness and depres-
sion, which had been it's character all day,
and to raise prices quite sharply above
Wednesday nights closing level. One of
these factors was the subsistence of appre-
hension earlier in the day caused by the
closing IF the -Chestnut-street Bank in
.
Association had succeeded in securing meas
ures going to assure the restoration ard
maintenance of established tariffs on live
stock, provisions and grain from Western
to Eastern ports Another the an
nouncement from the Treasury Department
at Washington that sufficient amounts of
the current skies were being offered for
redemption on Dec. q, in accordance with
the governments offer, to assure relief to
the money market from the scarcity threat
ened by the Withdrawals of the Union Pa
Ciflc DaVment TO the government Still n
other factor was the news from Albany
that the Railroad Commission had extended
by two years the period for equipping
freight cars with automatic couplings in
New York State. A number of the special
ties, which had showed marked strength
all day, took on renewed buoyancy at the
close and helped on the rise. The move
ment in the general list was not important,
the trading being in small volume and rep
resenting little more than the covering of
traders short contracts. The Vanderbilt
roads failed to make any substantial recov-
count Of the unfavorable quarterly state
ments Canada Southern is 11a lower and
Gng shor Sena bS down lower on no the Day
without any transactions The days bust
ness, however, was largely absorbed by the
specialties under the influence OF special
causes. Third-avenue gained 9 points on
top of Wednesdays rise of points, Man
haitian as much, Brooklyn Transit, su-
trail are over pont higher Those securi-
ties not only show the largest gains. but
ABSORBED the greater part OF the Gay ) DuSl-
ness. Call money loaned as high as
per cent again, and did not yield below
per cent. There was a further fall of Il
In the actual rate for demand sterling and
~ for cables and long sterling. Demand
sterling is now at the lowest point touched
since the gold import movement in Septem-
ber namely, $4.S4A. The rates for money
in London and Berlin are stift1y held. and
some apprehension of a squeeze before Jan.
/ is reported from London. This serves to
offset the weakness in the exchange rates.
The bond market was dull and rather
heavy Total sales. 81 100000. United States
new tours and old tours, registered, are
4 lower and the fives, coupon, X lower
bid.
The following table. prepared by L. w.
Louis, Room II. Board of Trade, shows the
range of quotations: