The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1897-11-02
STOCK MARKET QUIET
TRADERS OCCUPIED IN BETTING ON
THE NEW YORK ELECTION.
Union Pacific Sale Resulted in Better
Prices for Shares-LOcal Business
Men welcome the Rain.

At New York yesterday money on call
was easy at 1902 per cent; last loan, 2;
closed, 11zQ2 per cent.
Prime mercantile paper. 3SN1415 per cent.
Sterling exchange was firm, with actual
business in bankers bills at $4.S519 for de-
mand and at $4S2h@4S25s for sixty days;
posted rates. $4.SSq4.SS15 and $4S6Q4 S614;
commercial bills, $4.S11aQ4.S1%.
Bar silver, 575sc; Mexican dollars. 44a4c.
Silver certificates. 571kQ59o. At London bar
silver closed fiat at I'D an ounce.
Total sales of stocks were 164, 100 shares,
including: c., B. & o. S2,951; Louisville &
Nashville, 1925: Manhattan, 4572; Missouri
Pacific, 1880; Northern Pacific preferred,
$50; Reading $3.50; Rock Island. $40;
st. Paul, 1855; Union Pacific, second as
sessment paid, 1885, Bay State Gas, 1880:
Chicago Gas. 5000; Consolidated Gas. 1915;
Sugar, 1854; Chicago Great Western, 400.
Business in the New York stock market
yesterday was very small and the trading
amounted to little more than the passing
of holdings from one hand to the other
of the same person. The professionals
bought stocks in the morning and sold them
in the afternoon, with the result that nearly
all changes resolved themselves into very
extended little further than the early
rise. The sale of the Union Pacific main
line at Omaha had the effect of stiffening
the price of the stock, which rose at one
time 1ss above the low point and saved
part of its advantage at the close.
The stock, however, was without buoy
ancy Consolidated Gas also f1uctuated in a
Enthusiastically erratic manner. dropping
2 points, rising Az and closing the day with
a net gain of 2. Pittsburg, c., c. & ST. L.
showed a continuance of it's recent form
and is higher on the day. The grangers
showed some strength during the day, but
the gains were wiped out except in the
case of the Burglington and Northern Pa
cific preferred. There was some buying of
louisville on the showing by its September
statement of an increase in net earnings
of $l14,25S. For the rest brokers and oper-
RtorS seemed to be more interested in dis
cusSing to-dayS municipal election and bet
ting on the result than in dealing in stocks
Yesterday being bank holiday in London
no quotations were received from there to
influence results, but there was light pur-
chasing of some stocks in the New York
market for London account. The stiffening
IN the rate for call money is not regarded
as likely to last for any length of time and
is attributed to operations incident to the
November disbursements on account of div
idends and interest which are estimated at
about $50, 10000.
Railway bonds were strong in tone, espe-
cially the Houston & Texas, Oregon Short
line and Oregon Navigation issue Total
sales were 1905, 900. United States bonds were
Is higher bid for all issues except the ffves
which advanced "A. The new tours coupon
sold at l2lSs, ex. interest of per cent.
me Following table, prepared by L. w
Louis, Room II, Board of Trade shows
the range Of quotations.