The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1897-07-16
STOCK MARKET QUIET
SPECTATORS IN A DEADLOCK, WITH
FLUCTUATIONS NARROW.
The Changers BENEFITED 10 u Small tx
tent on Bu=;ness RevivaI-LocaI
Markets Holding Steady.

At New York yesterday money on call
was duh and easy at l per cent; closed
offered at l per cent.
Prime mercantile paper, 3a4 per cent.
Sterling exchange was easier, with actual
business in bankers bills at $4.S612 for de-
mand and at $4Se@4.s61s for sixty days;
posted rates, $.S7G4S712 and $4.SSQ4.SS12
commercial bills, s4S5A.
Bar silver 6015c; Mexican dollars, 4Sc;
silver certificates, 6014c. At London bar sill
yer closed dull at q 9-16d per ounce.
Total sales of stocks were 272. S37 shares
including: Atchiscn preferred, 1851; Chica-
go, Burlington & Quincy, SIPS; Louisville
& Nashville, 4,170; New York, Susquehana
& Western preferred 10, 4O9; Reading, 49,
925; Rock Island, 1868; st. Paul, 23,795; ST.
Paul & Omaha, $40; Texas Pacific, 1853;
American Tobacco, ex. dividend, 81, O03; Chi
cago Gas, $40; Consolidated Gas, 1852; Pa
ciic Mail. 1850; Sugar, 4S227.
The conference-committee deadlock on
the tariff had a counterpart on the floor of
the New York Stock Exchange yesterday
among the professional SPECTATORS the net
changes being but fractional either way in
most active stocks, but for the time being
the market has broadened materially, so
after a two days success L would seem
that spectators for an advance might be
content with not losing much ground on the
third, especially as it is considered proba-
Ole that strong interests with the opti-
mistic market tendencies prefer a quiet
market pending final action on the tariff
and the Presidents currency message in
order that ultimately their favorites may
not carry top weight in the advance they
fair would expect when Congress adtourns
The enormous over subscription, $50, 900 900
for $2,OO0,OOO issue of Metropolitan Street.
railway bonds offered at 105 and the fact
that there were simultaneous sales at an
advance Of sly points on the street was
tken as certain indication of confidence.
Moreover the Great Northern's increased
dividend was interpreted at fairly indicat-
Ing a steady business recovery in the
benefciaries Of such conditions, showed
only temporary strength, losing their early
gain. The favorable crop outlook coincf-
dent with rise on grain quotations had
evidently been discounted and st. Paul was
subjected to professional pressure but the
net recession was trifiing. While London
dlsfegarded the Bering sea dispute, the for
eign traders took a less interest in Ameri-
cans than yesterday, selling moderately Of
81. Paul and purchasing a few low-priced
shares and louisville, the latter buying
being due to cabled statements that the re-
sumption of dividends is possible without
the restoration of wages. Sugar suffered
10 the extent of a point on repetitions of
the rumor exploited yesterday that the
House duty will really win the conference
committee and again the possible delay was
depressing, a member of the committee
being quoted as saying that an agreement
might not take place for two weeks. To-
bacco was manipulated in the early trad
ing so as to recover the 2 per cent divi-
dend. 1t then reacted, making small net
loss on the day. There was little buoyancy
among the coalers excepting Susquehanna
& Western preferred, which gained 15s per
cent. and Susquehanna & Western COM
mon point, the late rumor being a.
European trip of inan siers seeking Eng
hsh help to purchase control of the road
The average of changes was slightly lower
for the day.
The bond market reflected to a marked
degree the general confidence in the finan-
cial and commercial situation. Apprecia-
lions We're general in all classes of securi-
ties and the revived demand for the low
grade mortgages was regarded 4s indicat-
ing considerable outside purchases. Opera
tons for foreign account embraced pup
chaseS of the more prominent international
liens. Aggregate sales were $1,715,OOO. Gov
eminent bonds were neglected at the board
but held firm at bid prices
me following table, prepared by l.. w
Louis Room IL, Board of Trade, shows the
range Of quotations:
Open High Low Clos