The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1897-07-22
STEADY STOCK MARKET
STIFF PRICES ON 'CHANGE, THOUGH
SUGAR WENT OFF Sd PER CENT.
Top Quotations of Present Upward
Movement in Several Shares-LOcal
Markets Strong and Active.


was easy at lola per cent; last loan, l
per cent. closed offered at 1 per cent.
Prime mercantile paper, 3Q4 per cent.
Sterling exchange was steady, with actual
business in bankers bills at $4.S7A for de-
mand and at $4.S614 for sixty days; posted
rates, $4S764.S71a and $4.SSa4SS1a; CONNER
ciaI bills, $4.S5h.
Silver certificates 5934@60Bc bar silver,
$3.50; Mexican dollars. 4624c. AT London
bar silver closed dull at 81 7-16d per ounce.
Total sales of stocks were 90S 800 shares,
including: Atchison preferred, 5,515; Chi
cago, Burlington & Quincy, 1920; Louisville
& Nashville, 1880; Missouri Pacific, 3,251 !;
Missouri, Kansas & Texas, 10,031; Rock ISL
and 1880; St. Louis 81 Southern preferred,
5,133; ST Paul, q, 94S; American Spirits, 6,977;
American Tobacco, 1850; Chicago Gas,
2S,25O; Lead, 1891; Sugar. $685. Tennessee
Coal and Iron, $3.50.
Authority has been granted to list the
following named securities on the Stock
Exchange: New York. Susquehanna &
Western 1888 900 additional general mortgage
fives making a total of S. $4,000, and fifty
shares of stock exchanged from old to new;
certificates of proprietary interest in the
Chicago Terminal Transfer Railroad max
Ing. total Of $17G0S, 900.
The New York stock market yesterday
generally was steady TO firm, but at the
closing was strong at better level for not
only the active shares, but also for shares
usually quiet and upobtrusiVe. One of the
most potent influences was &c extreme
rise in wheat and the export.orders of over
a million bushels of wheat, while yesterday
the enormous quantity of a million ana a
half bushels was engaged for export, which
is the largest days business in a number
of years. Other influences were the treas
ury's continued gain in gold favorable crop
outlook and predictions of the tariff early
becoming a law. Predictions were not
We would have
large credit balance abroad next year, al
though there was a possibility of moderate
gold exports soon. Speculative and COM
mission house orders were sustaining infiu-
enceS in the local market, while foreign
bankers maintained that recent London
sales were really the liquidation of pur-
chases in London for New York account
Top prices for the present movement were
recorded by Chicago Gas Rock Island
Brooklyn Rapid Transit, Lead, Chicago &
Great Western and Missouri, Kansas 81
Texas preferred, as Well as some less no.
table stocks. Compared with a month back
twelve industrial stocks are quoted at an
advance of over per cent, while twenty
This rise, of course, is a constant tempta-
ton to those who, for several years, have
found short sales at every sharp advance
ultimately profitable. but bulls argue that
the improving business situation and ex-
pected increase in railway earnings may
carry the market above the figures pre-
vailing before the 1893 panic. Sugar rose to
14512 receded to 142l2 and closed with a net
loss of q per cent. 1t is claimed in some
the recent advance of the speciality have
realized on much of their holdings, but
there is no way of verifying such rumors
Lead was buyort on buying. attributed to
tariff changes. Chicago Gas advanced on
confident buying in view of the dividend
expectations. Consolidated Gas broke 4 per
cent, part of which it subsequently recov-
cred The disturbing feature seemingly
was fear that the consolidation of other
companies, if it materialized would lead
to sharp competition. The grangers were
in particularly good demand, notably Rock
Island, which improved on reports of i'm
mense crop results in Kansas and Okla
homa. Crop prospects also strengthened
Southwestern stocks, especially St Louis e.
Southwestern preferred and Missouri Kan
sas & Texas preferred. Hopes of an early
settlement of the soft coal strike upifted
Tennessee Coal and Iron, although the June
report was far from favorable. Wheeling
4 Lake Erie preferred was also benefited
by the former influence. Notable gains of
point or more follow:
Canadian Pacific, 90; Lead q Brooklyn
Rapid Transit, Brooklyn Union Gas, Chi
cago Gas, Rock Island, Detroit Gas Kan
sas & Texas preferred, ST. Louis South
western preferred, Oregon Navigation pre-
ferred and Wheeling & Lake Erie preferred
l per cent, while declines were, noted in the
following; Hooking Valley preferred. 5:
Pittsburg, Cincinnati, Chicago & ST Louis
and oregon Short-lne /. :
Business in railway and miscellaneous
ponds was in considerable volume at
marked enhancement in values of some Sc
curltles; The Central of Georgia liens re-
sponded notably to the favorable statement
of the fiscal year, and some Of the active
issues received better support than for some
tine. The aggregate sales were 50. 267. O00
. Government bonds hold firm on light
transactions. The sales We're s.. 600
The following table, prepared nv T. w
Louis, Room II, Board of Trade shows tbe
range Of quotations: ''i9