The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1897-09-18
STOCK PRICES HIGHER
AVERAGE LEVEL RAISED BY THE
HEAVY GRANGER TRADES.
Spaxms of Activity Extended Over the
mess Active and Strong.

At New York yesterday money on call
was steady at 1s4@215 per cent; last loan,
2 per cent; closed, 115Q2 per cent.
Price mercantile paper, per cent
Sterling exchange weak with actual
business in bankers bills at $4.S4s4Q4.S5 for
demand and at s4.s214Q4.s2a4 for sixty days;
posted rates, $4s9G4.S4 and S4.S5@4S6; COM
mercial bills s4.S114Q4s2.
Silver certificates, 5705Sc; bar silver,
5634c Mexican dollars. 43Ac. At London
bar silver closed steady at 261kd per ounce
Total sales of stocks were 601 ,S08 shares,
including: Atchison. %, 400; Atchison pre-
ferred, 27,750; Chesapeake & Ohio, 2S,225; c.,
B. & O.. 22.23s; Delaware & Hudson, 1855;
Louisville & Nashville 1850; Manhattan
Eek DIVIDEND, So 500; Missouri. Kansas &
Texas, 1850; New Jersey Central, 1850;
New York Central. 6,O25; Northern Pacific,
S,615; Northern Pacific preferred 16, 12O;
Northwestern, 1925; Ontario & Western,
IL 1863; Reading, 27,120; Rock Island, 1920;
st. Paul, %, 165: st. Paul & Omaha. 5,235;
Southern Railway 5,295; Southern Railway
preferred, 8.6S5; Texas & Pacific. 55S5; Union
Pacific, $3.50; Union Pacific, Denver &
Gulf, 15,Si0; Wabash preferred, 1920;
American Spirits. s.735; American Tobacco.
11,790; Bay State Gas, 1850; Chicago Gas,
$3.50; Consolidated Gas, 5.n5; General Elec-
tric 1880; Sugar, 6,43O; Western Union, 10,
66S; Chicago Great Western 24,S20
Yesterdays New York stock market was
strong, and the average level of prices was
considerably raised as result of the day S
trading. 1t was a noticeable fact, however,
that the greatest activity was confined to
spots. The gains, also, were spasmodic in
character, and it could not be SAID that
there was any simultaneous advance
through the whole list During the periods
while an individual stock or group of
stocks was being advanced the general list
showed a disposition to fail into neglect
and to halt the advance. 1t must be said,
however that the spaSEls of activity yes
terday went the round OF pretty much the
whole market The grangerS, the trunk
lines the Vanderblts and the Southwest
erns, all of which have recently been
checked on realizing. sales, invited by pre-
vious sharp gains, showed recoveries. The
most conspicuous feature of the market,
however, was the lively demand for the
coalers. New Jersey Central was carried up
the first time since Feb. of this year. The
decline which preceded the reduction of the
dividend dated from that time and Gull
minated on May "a, when the stock touched
6SA. 1t was one of the last stocks to feel
the impulse of the recovery of prices. The
Reading stocks all advanced a point or
over during the day, but fell back sharply
just at the close. IackaWanna rose "a
and Delaware 81 Hudson IA. There was
on the list, also, and some sharp advances
We're recorded in stocks so low in price that
It is only little way to go to double it.
The Southern railroads seemed to have the
incubus of the yellow fever scare lifted,
and Louisville, Southern preferred and
Mobile & Ohio all gained considerably over
q point. The increase in gross earnings of
Missouri Pacific of $129,O0U for the second
week in September and for Wabash of
$2S,7l5 turned attention to the Southwest
ems, and Missouri Pacific Atchison pre-
ferred and Wabash preferred all gained a
point or over net. The solution of the
troubles of the soft coal industry which is
being worked out. was reflected in sharp
advances in Toledo 81 Ohio Central and
Hooking Valley preferred Union Pacific
was another conspicuous figure in the trad
ing, being heavily bought by London and
closing with net gain of nearly two
of per cent, recovered the dividend and
another point besides The grangers were
less active than of late, but manifested
strength, Chicago Great Western leading
In the industrial list the spirits stocks
which have advanced much less than 9th
ers in the current movement, showed sharp
gains, the preferred rising a point The
other leading induStrials, Including Sugar
Tobacco, Leather preferred, Lead and Rub
Der showed somewhat heavy tone, and
closed at small net changes except To-
Dacco which lost over a point Western
Union gained over point and the common
and preferred stock OF Pittsburg. Cincin-
natl chicago & St Louis over two points
The exchange market was weak and dull.
especially that for continental exchange,
anu ~ - eVlueEt that any material harden
ing or the local money rate will result in
prompt imports of gold. Other gains i'm
price We're: Buffalo, Rochester 4 Pittsburg.
= Bunalo, Rochester & Pittsburg pre-
Ierred, 49, Evansville Il Terre Haute, com
men men ana preferred, points each; Lake
Erie d Western, ~; Lake Erie & Western
pirseIer red z; Minnesota iron, l; Union Pa
Ohio Southwestern preferred 1 Flint (,
Pere Marquette preferred lost 81. Iowa
central preferred 212 and Wheeling d Lake
Erie preferred l. - A1'''N
The market for railroad bonds was less
active and only steady. Total sales. So
OVo0U United States fives, coupon. sold
Inc following table. prepared by L. w.
Louis, Room IL, Board of Trade. shows the
range of quotations.: '--o