The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1897-07-07

At New York yesterday money on call
was easy at 1d115 per cent; last loan, 112;
closed. 1Q1A per cent.
Prime mercantile paper 3Q4 per cent.
Sterling exchange was steady, with actual
business in bankers bills at $4.86Q4.S7 for
demand and at $4.S524GI for sixty days;
posted rates. $lS612d4.S71s and $4.S8Q4.SS 1a;
commercial bills, $4.S5
Silver certificates, 6O1sQ601ac; bar silver,
Coo; Mexican dollars, 47c. At London bar sill
yer closed quiet at % 9-16d per ounce.
Total sales of stocks were $50, lis shares,
including the following: American Tobacco
$500; American Sugar, 1890; Chicago Gas,
$500; Northern Pacific preferred, $780,
Reading, 5000; Rock Island, $780, ST. Paul
25,1OO; Tennessee Coal and Iron 5000: West
ern Union, 5000; New Jersey Central, 1000
The intention of security holders clearly
indicated by the tone of yesterdays New
York market for stocks was to await fur
Their developments in the general business
situation before dealing in the market. Buy
were unwilling to offer higher prices
than those at which the market closed Sat
urday. Although the lower bids invited some
offerings which were quite large for some
stocks there was no heavy pressure to SELL
the majority of holders apparently being
as unwilling to sell at the decline as were
buyers to bid higher. The market was in
consequence dull throughout, some depart
ments being quite ethargic and dullness
being less marked in the leading granger
and industrial stocks. St. Paul and Burling-
ton alone absorbed about one-third of the
total dealings. The days trading was a
clear enough indication that the heavineSs
of Friday and Saturday last was not mere
~ due to hesitancy on account of the APP
preaching holiday, but to actual reaction
in the market. Most traders would give as
for fanfr lei no1f fsNr1 4l,sa
they are convinced prices have advanced as
far as is warranted by the general outlook
for business The bears also find the labor
troubles in the bituminous coal industry an
effective weapon. The lower prices for
American securities in London were said to
be due to the reports of the soft coal
strike cabled from this side and the Lon
don prices affected values here sympathet-
ically quite sharply in some cases. The
fact that the consideration of the tariff bill
has reached to only few remaining items
gives rise to the flood of surmises usual to
such a stage in important legislation as to
Irreconcllable dlnerences ON these items
and the possible failure of the bill. These
surmises were made the most of by the
bears to-day Later reports of the adjust
ment of some of the differences on the tariff
bill items and published assertion to the
lessened dimensions of the strike compared
with earlier reports were influences in
bringing about rally in the market The
rally did not wipe out the early declines
entirely, but ii left net losses generally
small. The extreme loss in the leading
shares generally equaled or exceeded a
point. sugar July recovered ana gained Is
net and Lead showed fractional net gain.
New Jersey Central declined 2 points, but
recovered all save fraction. Louisville q
Nashville closed point off, Bay State Gas
was strong all day and closed 19s higher,
Minneapolis st. Louis also advanced IA
at the close Otherwise net changes show
fractional losses in the active list
The bond market sagged generally in
sympathy with the stock market. but the
losses were small except in a few less we'll
known mortgages. Total sales were $1,113,-
600. Government bonds were steady on bid
quotations, no transactions being recorded.
The following table, prepared by L. W.
Louis, Room H. Board of Trade, shows the
range of quotations.