The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1897-07-10
STRONG AT THE CLOSE
STOCKS WERE WEAK AND FELL OFF
UNTIL DURING LAST HOUR.
Four shares Absorbed the Bulk of
Trading on New York 'Change-Lo-
cal Markets Dull and Firm.

AL New York, yesterday, money on can
was easy at IL per cent; last loan, IA per
cent. closed at 1d1A per cent.
Prime mercantile paper SG4 per MT.
Sterling exchange firm, with ctual
business in bankers bills at $4.S7@4S7A for
demand. and at $486G4S6]4 for sixty days;
posted rates, $4S61zQ4.S714 and s4SSq4.SS12;
commercial bills, A.S5.
Bar silver, 6OAc. Mexican dollars, 47c. At
London bar silver was uncertain at q 11-16d
per ounce.
The steamship Etruria will take out to-
day 494, 900 ounces of silver.
Total sales of stocks were 1873 996 shares,
including the following: American Sugar,
1S,50O Burlington & Quincy, Is, 100; Chicago
Gas, 400; New York Central, $500; On
tario & Western, 1850; North American
Company, $500; r. & w. p. certificates,
third assessment paid, 400; Rock Island,
Is 800.
The result of yesterdays trading is a
small average net gain in the price of
stocks on New York Change But the
larger part of the sales during the day was
made at prices considerably below Thurs
days close, and it was only in the final
hour that a covering movement stiffened
prices to a point or over above the low
level of the day in many shares. There was
ment unless it was the continued good
prospects for crops which sustained the
grangers. The strength of Des Moines &
Fort Dodge and Chicago Great Western
continued and was attributable to a be-
lated share in the Improvement which has
been general in the market for several
weeks and which was precipitated by mar
ket operations of inside interests of those
properties. Omaha was favorably affected
by story that the proposed blanket mort
gage for $l65. coo, 600, authorized by the
Northwest directors for refunding opera
lions, is to be applied to the refunding of
Omaha issues as we'll rough the merging
of the two roads. This rumor affected
Omaha more markedly than it did the
Northwest itself, and, III fact, gave an inn
petus to prices III the whole market. New
York Central sold at one time during the
day on reports that its officials had secured
a controlling interest in the Lehigh Valley.
The stock reacted sharply on d denial of
this report from an accepted authority on
both New York Central and Lehigh Valley
affairs. Chicago Gas was vigorously at
tackled and sold down 13s on a report that
the plan of consolidation included an in
crease OF the bonded debt, but practically
all OF the loss was recovered. Sugar was
the subject of the usual flood of rumors re-
garding the intention of the tariff confer
ence, but ruled above Thursday nights
close nearly all day and closed with net
gain of point, rising sharply at the close
wholly made up of such special incidents
as the above. Commission house buying
was lacking, the London market was not
a factor, and in fact manipulation made eff
fective by the narrowness of the market
was about the only influence which made
itself manifest. There was a marked
diminution in the volume of dealings and
Sugar, St. Paul. Burlington and Pacific
Mail absorbed about half the total. DeS
Moines & Fort Dodge and Omaha gained
13s net each and New York Central point.
Otherwise net gains of a fraction were gen.
eral A number of shares showed a recoV-
cry of over point from the low point in
Guiding Chicago Gas, Rock Island and Pa
cihc Mail. Minnesota Iron rallied three
points net gain of two, in the closing
dealings. Iowa Central preferred lost 112.s
brisk inquiry prevailed for the middle
grade bonds and some substantial improve
ments were recorded. The general market
also advanced slightly, while a more cheer
full sentiment pervaded the dealings than
81. 450, 600 The principal gains Were Susque-
hanna & Western generals. per cent, and
Detroit Gas fves, 1l2 per cent. Govern
ment bonds were shade lower all around.
The transactions $4,000.
Application has been made at the New
York Stock Exchange to list West Chicago
Street-railroad stock to the amount of
$13 189 600; first mortgage fveS, So 969 goo, and
Consols fives. $4,000, 000 also, Chicago, In
diana q Southern, l0500, 600 common stock,
49, SS3, $50 preferred, $4 700,0 900 refunding per
cent. bonds and $1,000, 900 refunding ives.
The following table, prepared by l.. w.
Louis, Room IL, Board of Trade, shows the
range of quotations: