The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1897-05-27
STOCK MARKET ACTIVE
UNTIL ANNOUNCEMENT OF FURTHER
GOLD EXPORTS WAS MADE.
Number of the Prominent Shares
Scored Material Gains-LOcaI
Business Fairly Good.

At New York yesterday money on call
was easy at 114q14 per cent; last loan, 112
per cent; closed, 14@l1a per cent.
Prime mercantile paper, 312@4 per cent.
Sterling exchange was weak, with actual
business in bankers bills at s.. S67s@4.S7 for
demand and at 4S52ld4.S6 for sixty days;
posted rates, $4.S61aQ4.S7 and $4.SS1a; COM
mercial bills. $4S5A.
Silver certificates. 6Q1sG6O5sc; bar silver,
Coo; Mexican dollars, 4712c. at London bar
silver closed steady at 27 9-16d per ounce.
Total sales of stocks were 1861 shares,
including: American Sugar, 1900; Burlng
ton, 205G0; Baltimore & Ohio, 9,4G0; Chicago
Gas Trust receipts, 1900; Rock Island, g.
900; st. Paul, 1S,40O Western Union 1900;
New Jersey Central, $4,000.
The New York stock market was notably
active and strong in the early hours of
trading yesterday. The animation of the
trading somewhat subsidized after the noon
hour on account of the announcement of
an additional shipment of $500,0OO in gold
for to-day aad on profit taking and some
weak spots developed in the list, which
served somewhat to check the rising ten
dency Prices of most stocks were never
theless, quite firmly held until the close
and substantial net gains We're the rule as
the result of the days trading There was
a large number of shares sold for London
accounts but they represented nothing but
arbitrage. operations by professional trad
eTs the highe: level of prices on this
side Offering d sufficient margin of profit
to invite the operation. There was a
marked broadening tendency 10 specula-
ton, many usually inactive shares coming
into demand and gaining in price. The out
side interest in the market which first man
ifested itself Tuesday was again a feature
and various cOmmiSSion-hou orders We're
IN evidence. Smaller transactions were of
considerably smaller volume. The fact that
the Senate is actually embarked on the
consideration OF the tariff bill and the be-
lief that the measures taken to expedite
action by that body on the bill will prove
enlcaclous We're the impelling causes of the
more cheerful view of things taken on
the Stock Exchange Wall street waits
on general trade revival panacea for
the Ills that affiict security values. Trad
ers In stock act On the belief that
progress towards the enactment of the new
tartn law justifies them in disseminating
the good effect expected to accrue to bust
ness in general from a definite settlement
OF the future conditions it will have to do
with. Improved railway earnings especial
ly from the South and Southwest, are an
encouraging factor. For the third week in
May the Southern Railway shows an in
crease IN gross earnings of SIS, S04, Louis
Vile 81 Nashville of $l6,170 and ST. Louis
Southwestern and Kansas City, PittSburg a
Gulf also very substantial gains. On the
Ohio show losses. The St. Paul statement
for April was also a disappointing factor.
The decrease shown in gross earnings was
$162,S2l and the net earnings $780, $50. This
had quite a marked effect in the afternoon
TO check the rise in values Net gains were
generally fraction less than the extreme
advance, but We're the rule throughout
the list. An extreme advance of one point
or over was made in Sugar, Atchson pre-
ferred, Tobacco, Burlington, Chicago Gas,
Northwest Rock Island, Manhattan Mich
igan Central, Minneapolis and Missouri Pa
cific, New YORK Central and St. Louis
second preferred and Western Union. New
Jersey Central was very erratic, but gained
Is per cent. net. Baltimore x Ohio showed
weakness on the belief that the company
will default in its June interest payments,
and declined rs to 1925, closing near the
lowest c., c., G. & st. J.. was also con-
spicuous for weakness in contrast to the
general market.
strength on large transactions, which were
attributed in part to a revival of outside
Interest The gilt-edged lines were in fair
request at advanced prices, but in the mid
die grade and speculative issues the gains
were more pronounced. The st. Louis q
San Francisco securities were prominent
and rose materially with the trust tves.
registering the extreme Improvement of
3la per cent. Some few weak spots were
uncovered, notably Lehigh & Wilkesbarre
consols which sagged ga per cent. to 92la.
The aggregate sales We're 81 362. O0O
Government bonds displayed a hardening
tendency on moderate inquiry. The sales
were $4,000
The listing committee of the Stock Elk
change authorized the listing of securities
of the Missouri Pacific Railway COMPANY
the Western Gas Company. the Sunbury Il
Lewiston Railway Company and the Can
ital Washington. ID. Co Traction Com
pany. The committee directed that deal
ings in the stock of the Interior Conduit
and Insulating Company be suspended UNI
til further notice.
The following table prepared by L. w Louis.
Room II, Board of Trade, shows the range of
quotations: