The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1897-08-25
SILVER'S LOW RECORD
CONTINUED DECLINE UNsETTLING
FOREIGN MARKETS.
Active Trade in Stocks, with Many
Prominent Shares LOwer-LOcal
Business satisfactory.

At New York, yesterday, money on call
was easy at 1@1h per cent; last loan at
IA; closed at 1Q1A per cent.
Prime mercantile paper, 3&4041A per cent.
Sterling exchange weak, with actual bust
ness in bankers bills at $4.S514q4851a for
demand and at s4s32sq4831a for sixty days;
posteo rates. $484i4G48512 and A.S612Q4S7;
commercial bills, $4.S2Q4.oz7z.
Silver broke all records again yesterday,
falling to 1878 pence in London, which is
Is penny below the previous low point, and
to slice in New York, which is 4c below
the previous low record. Mexican dollars
sold at 39hc. Certificates were quoted at
52Q521k. AT to-day's New York price for
bars the value of the silver in the Ameri-
can silver dollar is 1886 cents.
Total sales of stocks were 412,53O shares.
including: Atchison, $3.50; Atchison pre-
ferred, 32,612; Chesapeake & Ohio, 12,7S0;
Chicago, Burlington e. Quincy. Is APO; Cleve-
land, Cincinnati, Chicago & st. Louis, 1870;
Missouri Pacific L 900; Northern Pacific,
Abs; Northern Pacific preferred, n490;
Chicago & Northwestern, 1860; Reading,
1880; Rock Island, 1,649; st. Louis & South
western, 1890; ST. Paul, 34,500; Southern
Railway preferred, 6,4SO; American Cotton
Oil, 4,16O; American Spirits. $40; American
Tobacco, 1895; Chicago Cas- 1910; Pacific
Mail, $3.50; Sugar, 92S5; Tennessee Coal and
Iron, $40; United States Leather, $500;
United States Leather preferred, 1881;
Western Union, 1880; Chicago Great West
ern, 209O5.
The opening of the New York stock mar
ket yesterday morning showed lively re-
awakening of outside interest, indicated
by a large volume of commission-house or
ders which had come into the brokers' Of
fees over night and which kept up ami
mated tone in the dealings during most OF
the morning. There was also heavy buying
for large individual interests, and prices
of some stocks topped the years record.
The preferred stocks of reorganized CONS
panieS were quite prominent and the shares
of Southwestern roads were notably strong
and continued firm all daV The grangers
were leaders in point of activity and
strength, but realizing sales We're heavy II
a given point in their advance, forming
barrier The course of the wheat market
was watched with sympathetic interest.
So far as it's decline was due to crop-dam-
age rumors 1t affected the stock market,
but when the cable brought news of
break in England and a decreased demand
for wheat, railroad stocks responded With
q sympathetic decline. The falling off in
prices of American securities in London
ignored at the opening in New York, partly
because it was attributed to the settlement
which begins to-day. But later in the day
the cable reported the London market
heavy on the tenor of the news from India,
London advices also reporting that the con-
tinued fall in silver is an unSettllng lnflu-
ence in that market. Silver fell "a penny in
London, to 297s pence, which is Is penny
Withdrawal of gold from the subtreasury
for shipment to Canada might be counted
as a slightly depressing influence. The con-
tinued ease in the money market is not
indicative of a lively demand for funds
from the interior, such as are looked for
in a period Of business revival, and while
call money at l per cent. is an incentive to
speculation, as index of business aWak-
ening it is regarded distinctly disap-
pointing. AT the same time tenders OF
money are in expectation of an early de-
mand on them for interior trade needs, and
there has been some additional accumula-
ton of funds in New York recently in an
ticipation of such demand. Leather pre-
ferred was notably weak on account of dis
appointment that the dividend rate was not
Increased and lost rs per cent. Cotton
Oil preferred on the other hand, was strong
and gained pa. Illinois Steel fell off rl2.
National Lead advanced rs, mostly late In
the day New York, Chicago 81 st. Louis
first preferred fell off points. Most of
the active stocks showed fractional net de
clines but there were gains scattered all
through the list, extending to a point in
Chicago Indianapolis & Louisville pre-
ferred Cleveland, Cincinnati, Chicago IL
ST. Louis, Flint 81 Pere Marquette pre-
ferred Laclede Gas, Lake Shore and Ore
gon Navigation preferred.
The bond market was strong and hrm
against the Decline the Atchlson issues
leading. The total sales of bonds were
81, 600.
The following table, prepared by L. ".
Louis, Room II, Board of Trade, shows the
range of limitations.