The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1897-08-03
GENERAL R GAIN
NEARLY ALL STOCKS ADVANCED ON
NEW YORK CHANGE YESTERDAY.
Bears Tried TO Raid the Market, but
Soon Gave Up the TasE-Hot Wealth
er Affecting Local Trade.

At New York yesterday money on call
was easy at 101A per cent, the last loan
being made at l per cent; closing offered
at ! per cent.
Prime mercantile paper, 800 per cent.
Sterling exchange easier, with actual bus
mess in bankers bills at $4S79487A for de-
mand and at $4.S6Q4.S6A for sixty days;
posted rates, $4S7a4.s1a and $4.SSQ4.SS14;
commercial bills, $4.S51a.
Silver certificates, 5SA@5S%c: bar silver,
b7zsc. Mexican dollars, 45Ac.
The total sales Of stocks at New York
yesterday were 3S9, 965 shares, Including:
Atchison preferred, ASS; c., b. & O., H.
339; c., c., C. 81 st. L., 4,015; Louisville &
Nashville. 1906; Manhattan, 1850; Missouri
Pacific, 1916; M, X. & r. preferred, 5000;
New York. Susquehanna & Western, 4,67O;
New York, Susquehanna & Western pre-
ferred, 4,490; North American Company,
4,42O; Northern Pacific, 5,543; Northern Pa
ci1c preferred, &c, $40; Rock Island, II, l25;
st. Paul. 16. 800; ST. Paul & Omaha. 3.510;
Southern Railway preferred, 6,4l9; Alneri-
can Tobacco. %, $780,; Chicago Gas, 81, $50;
Consolidated Gas, 1921; General Electric,
$500; Sugar, 6,525; United States Leather
preferred, 6,445: Western Union, 1884; Chi
cago Great Western, 10, 260.
The market for stocks at New York yes
terday displayed an irregular tendency at
times, but the net result of the days trad
ing was a general average gain extending
all through the list. 1t was the general out
side interest in the market shown by the
purchases made by the commission houses
that checked the slight sagging tendency
which developed at some points In the list.
The professional bear operators, who are
constantly watchful for the reaction which
they, think must come after the long up
ward course of the market made some at
tempt TO take advantage of this sagging
tendency and to extend the Vy0a k1pSSpS
through the list. But they soon reired from
the field. Some reports of crop damage gave
the ground for a selling movement In the
grangers and also in the Southwesterns
but 1t was short lived. The commission
house buying which sustained the general
list was supplemented by the large buying
in individual stock melted by special causes.
CONSOLIDATED Gas continued to show the ag-
gressiVe strength which has characterized
1t recently. This strength is believed to be
connected with the approaching deelara-
ties failed TO develop activity or to show
any sympathetic strength. Chicago Gas.
however, continued its upward. course and
It's price made the long expected passage of
the par mark, selling as high az 1905. This
Is a net high price record, the previous
years ago, but only momentarily main
tained. The Northern Pacific preferred
STOCK was also a center of strength, due
to the belief that the voting trust had
agreed upon a basis OF harmonious adjust
men with the interests in sympathy with
Great Northern. The price rose 1zs, but re-
acted partially on account of the difficulty
In securing any authoritative confirmation
OF the very explicit reports set afioat re-
garding the choice of the new president,
A number of the industrial stocks We're es-
pecially strong, notably Sugar and Tobacco.
the former showing recuperation from it's
depression Of last week and rising sharply
on short covering. Leather was also promi-
nent. The grangerS effectually oVercAme
the early attempts at a raid and de, clipped
strength. Chesapeake & Ohio was strong
on the statement of earnings. The weaken
ing of the exchange market was the refuta-
ton of bear rumors that further heavy gold
shipments were to be made this week. The
gains which were general extended to a
point or over in Sugar go, Consolidated
Gas, 512; Chicago, indianapolis d Louisville
~; Ann Arbor, e. Western Gas, 2k, aud
Tobacco. Cotton OH, Brooklyn Rapid Tran
sit, Cleveland. c., c. & st. Louis, Chi
Traction and Ann Arbor preferred. The
East River. /. and Missouri Pacific a frac-
ton.
Business continued in large volume in the
bond market. the speculative issues alb
sorbing the bulk of the dealings. Kansas
Pacific consols showed a rise of 2 points.
The market generally showed decided
strength. but realizations caused heavy
tone in the Atchison mortgages. Sales were
$2.950,O00.
Governments were dull, but firm on pur-
chases of 81, 200.
The following table. prepared by L. w.
Louis, Room II, Board of Trade, shows the
range of quotations: