The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1897-01-27
IMPORTANT NET GAINS
STOCKS MAINTAINED a FIRM TONE
ON SMALL BUSINESS.
CoaIers Became the Feature of the
Market, and Stinened Up-Local
Business Very Quiet.

At New York, yesterday, money on call
was easy at 11za2 per cent; last loan, ~;
closing offered at 113a2 per cent.
Prime mercantile paper, 3l2a4 per cent.
Sterling exchange was steady. with ac-
tuaI business in bankers bills at $4.s612q
4-564 for demand. and s4.sf14d4.s4%4 for six
ty days; posted rates, $4.S572a4S6k; COM
mercial bills. $i-s3h.
Silver certificates, 65q65Hc; bar silver, Coo.
Mexican dollars. 5OAc. At London bar sill
yer closed at % 13-1sd per ounce.
Total sales Of stocks, S0,2i7 shares, in
Guiding the following: American Sugar,
800; Burlington, $500; Chicago Gas, 5000;
Delaware & Hudson. 800; General Electric,
800: Louisville & Nashville. $500; Reading,
$500; st. Paul, $500; Union Pacific. $500.
Yesterdays movement in stocks was ir-
regular. but a firm tone was discernible in
spite of a light volume of business. The
anthracite coal shares were again the fea-
lures. but displayed improvement on COW
ering and some purchases for the long ac-
count induced by the more seasonable
weather. 1t is believed, however, that a
short interest of fair-sized proportions still
exists, based on the long continued I'M
favorable conditions affecting the industry
and anticipation of discouraging annual re-
puts ny lne DtidWGTe ~ IluuSOn anu
L~ackawanna companies. 1t has been as
suEed that the last mentioned has suffered
as heavily as the former in point of loss
OF earnings, and the probability or a reduc-
tion of dividends from the present z per
cent. basis has not been overlooked. The
high loaning rates current for the shares
has also been regarded as TO an extent
manipulated to conceal long selling. On the
rally there were realiZations at frequent
intervals, but L-ackawanna gained and fair
ly well held Ia per cent, Delaware & Hud-
onn and Nnuy VarGaU ranfrQl Qnl Paa6-
ing. q per cent. Improvement. In the gen.
eral list the grangers and some of the high
priced industrials were We'll supported.
Slight reactions occurred in the forenoon on
profit taking and the market afterwards
became intensely dull. The apathy of the
speculation was relieved in the final hour
by heavy Washington purchases of stocks
said to be inspired by the more favorable
outlook for the international treaty. Lon
don houses sold moderate amounts of the
low-priced shares. but at the same time
bought a considerable aggregate amount of
speculative bonds. The high grade invest
ment stocks were more conspicuous than
for some time past and In many instances
scored substantial gains. New York Cen
trial. however. developed decided weakness
and sold of LIS per cent. on dealings of
1000 shares. There was no news on the
stock and decline was attributed to liquida-
stock was traded in at A. Mondays closing
price. but at the close yesterday jumped TO
As bid. 80 asked, on the impression that Mr..
Little's report confirms the figures sub
mitted by President Baldwin to the syndi-
cate. The market closed strong at i'm
portant fractional net gains generally.
The bond market was fairly active, and
decidedly strong with a good European in
Quiry apparent for speculative issues. The
sales Were 81. 253.O0 The principal advances
were: Louisville & Nashville fives and
Union Pacific gold skies. ~: Union Pacific
sinking fund Fights. 1; Archison adjust
ment fours, rs, and International & Great
Northern seconds, Knoxville & Ohio firsts.
Peoria & Eastern frsts. and st Paul. I. &
NJ. division firstS. 1 per cent The Hooking
Valley issues continued TO display weak
ness. rejecting the unsatisfactory condition
of the bituminiouS coal industry. the fiveS
declined l, and skies ~ per cent.
Government bonds were neglected. but
slightly higher all around. The transact
tions were $40
The following table. prepared by l.. w. Louis.
Room IL Board OF Trade. shows the range of
quotations.: