The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1897-03-19
ACTIVE STOCK MARKET
INCREASE IN DEALINGS AND RAIL
WAY SHARES IMPRovING-
Silver Market Ruled Firmcr on Con-
tinentaI Purchases-LOcal Bus
mess Continues Flat.

At New York. yesterday. money on call
was easy at 11412 per cent; last loan, Ia;
closed, 1izQ1A per cent.
Prime mercantile paper. 9Ani per cent.
Sterling exchange was steady, with actual
business in bankers bills at $i.S7u4S7A for
demand and at S4.S1a for sixty days: posted
rates, A.s614s7E and Sf.SSa4SS1s; CONNER
cial bills. s4.S4A.
Silver certificates. 62t4c; bar silver, 625s4
624c; Mexican dollars, 4Sc.
The New York silver market, with Lon
don. ruled hrmer yesterday on continental
purchases. Buyers from India are holding
of in view of Developments in Japan on
the measure introduced in Parliament for
"a gold coinage. Bullion dealers were inter-
viewed in New York regarding the bill and
professed TO be in the dark as to its de-
tails, and are awaiting intelligence regard
ing it with interest in order to Judge of its
probable effects on the market
Total sales of stocks yesterday were IT,
80 shares, including: American Tobacco,
5.1O0; American Sugar. d .9OO; Burlington IL
Quincy. $1,000; Chicago Gas, 2S,SOO; Cleve-
land. Cincinnati, Chicago * st. Louis. $50;
Missouri Pacific, 400; New York Central.
100; Omaha, 1890; Pacific Mail, 400;
Reading. 1850; Rock Island. 5000; Western
Union. 1900; New Jersey Central. 400.
The course OF some of the stocks on New
York Change yesterday was extremely ir-
regular. but an undertone of strength was
manifest, in the railway list particularly.
The net result OF the days transactions
was a gain OF a fraction in most cases.
Thu dealings were characterized at times by
great activity. The diminution of business
on any tendency towards a decline in prices
was noticeable. and it has been for some
time past. The volume of dealings was
large. the aggregate of the stocks sold
reaching $4,000 shares. This total has not
been equaled on the Exchange since last
fall, with one exception. The dealings were
fairly well distributed. though they were
exceptionally heavy in some four or hve
stocks Notwithstanding the strong under
tone of the market, the bears found some
vulnerable spots for attack and the adj
vance was not unimpeded by profit taking.
This was shown in some of the Vanderbilt
properties, in which the buying movement
mas been so marked for severai days past.
Omaha. Lake Shore. Northwest, New York,
Chicago x st. Louis common and second
preferred. and Cleveland. Cincinnati. Chi
cage * st. Louis all showed a reactionary
tendency. especially Omaha. in which the
cline reached rs. New York Central,
on the other hand, was very
strong. only a few early sales being
made below the par of the stock. The more
definite shaping of the reports that the
companys bonded debt accruing up TO 1905
NOulu 70 lClQilutu dI SdNlllb VI llltItSl
charges was the cause of the strength. The
buying movement became general and the
market developed marked strength
throughout. pool buying being evident at
various points and the shorts showing OBJ
viOuS anxiety TO cover, some of the usually
inactive stocks being included in the range
of activity. Pacific Mail enjoyed a gain OF
Us on the arrival at San Francisco of the
overdue steamer Peru. Sugar was heavily
bought by traders. though il was sold by
some usually regarded as being identified
with the inside interests. This stock rose
15s 10 1151z and reacted to l144 on the news
of a general reduction of sc in the price Of
refined sugar Southern preferred and
Kansas & Texas preferred benefited by re-
ports of improving business in the South.
Chicago Gas was largely bought, the trans
actions coming next 10 those in Sugar In
point of volume. Some of the large gains
rs; Chicago Gas. rs; Manhattan, rs; Kan
sas * Texas preferred, l; Southern pre-
ferred Is: New Jersey Central; rs; New
Ia; Rock Island, rs, and Burlington, q.
ST. Paul Jagged in the advance, being
was made on the market after 2 O'Clock.
some of the industrial and anthracite coal
ers being selected for attack. Sensational
which had underwritten the Reading plan
of reorganization had dissolved. The COM
mon stocks fell rs the first preferred; 2.
shares were also attacked, the common
losing Ia and the preferred rs. Sugar lost
III on the reduction in the price of the
staple. American spirits. /. and the pre-
ferred 2 tthe latter with a subsequent re-
covery of Ia. and realizations on Omaha
and Lake Shore helped the decline which
became general throughout the list. though
to a fractional extent only in most cases.
The closing of the market was consequent
ly weak.
The bond market displayed an improved
tone generally. although marked recessions
were scored in "A few cases, notably Atchi-
son. Colorado & Pacific firsts, which
yielded pa per cent. Standard Rope skies
fluctuated very widely, but tended mainly
upward and ended with a gain of Ia per
cent. The sales were 81. 400. 900.
Government bonds were neglected. but
easier in tone. The sales were 5000. State
issues were I'm demand and stiffened slight
ly on purchases of $4,000.
The following table. prepared by L. W. Louis.
Room Ill Board of Trade. shows the range of
quotations.