The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1898-08-11
RECOVERY IN STOCKS
SOME NOTABLE JUMPS on CHANGE
ON THE NEWS OF THE PROTOCOL.
Granger Shares Benefited on the Flat
tering Returns of Earnings
Local Trade Active.

At New York yesterday money on call
was steady at 114@2 per cent; last loan,
per cent.
Prime mercantile paper, 3AQ414 per cent.
Sterling exchange was steady, with actual
business in bankers bills at s4.S51l Q4S51s for
demand and at $4S324Q4S4 for sixty days;
posted rates, s4.S41A04S5 and s4S6Q4.S612;
commercial bills, $4S3A.
Silver certificates 5Ss4d5912c; bar silver,
591sc; Mexican dollars, 4534c. At London bar
silver closed steady at 27 5-16d ounce.
Total sales of stocks, 457, 500 shares, includ-
ing: Atchison, $780, Atchison preferred, 81
745; c. G. O., 1885; c., B. & O., $500; c., c.,
C. & st. L.. 42S5; L. & N, 5000; Manhattan,
1e.O35 Missouri Pacific, S.525; Northern Pa
cific, 10,100; Northern Pacific preferred, 7,574;
Rock Island, 25,OS7; st. Paul, 40 ,995; South
ern preferred 1000; Texas & Pacific, SIPS;
Union Pacific preferred, $3.50; Tobacco. $40;
Chicago Great Western, $500; Peoples Gas,
28,000 Consolidated Gas, 4,110; General Elec-
trio, 1923; Pacific Mail 1876; Sugar, "a, 439;
Tennessee Coal and Iron, 1927; Leather
preferred, II, 725.
Pretty much all of Tuesdays loss in val
ues was retrieved in yesterdays stock mar
ket before the definite news was received
from Washington that a protocol had been
agreed on between Secretary Day and NJ.
Cambon for the negotiation of a treaty of
peace But this news awakened the market
into renewed activity after period of COM
parative dizziness and some recession in
prices, and carried it to the highest point of
the day, holding it within small fraction
of that point well until the close The early
strength of the market was in spite of the
continued doubt whether the whole peace
negotiation was not endangered by Spanish
n1ibhIi0O he WE of
in Paris and London gave strong ground
for such apprehension. But a recovery in
the wheat market, renewed takings of
wheat for foreign account, and especially in
st. PaulS statement of earnings for the
first week in August were sufficient to turn
the tide of sentiment from Tuesdays bear
iSh disposition and to induce shorts to
cover The St Paul statement showed in
crease in earnings over the corresponding
period of last year of $242S7, or the largest
early August earnings in the history of the
road, with the exception of those for 1892,
which they nearly approached The state
ment is significant indication that there
has been a sufficient recovery in the grain
movement, after the decline following the
abnormal movement caused by the Letter
deal. to supplement the large current move
ment of general merchandise and bring the
earnings back to last years high level. Nat
urally the ,grangers led in the stock move
of 21a per cent. and ST. Pau of 2 per cent.
A continued large demand for Peoples Gas
also helped the morning movement. In the
afternoon squirt prices were sustained by
the very heavy demand for Atchson pre-
ferred, and there was some realizing in the
grangers under cover of this movement But
| the close was strong and pretty near the
top, at net gains generally of between one
and two points. Lenders of money, per-
haps were a little more exacting regarding
security to-day Payments into the sub
II easury on account of the new bonds are
large and the governments deposits with
national banks do not fully keep pace. The
drift of currency to New York is also fall
ing off, New York exchange at some of the
important domestic centers having fallen to
discount.
Business in bonds was comparatively light
mand increased and prices improved in the
| later dealings. Total sales, So 765 900. Gov
price.
The following table, prepared by l.. w.
Louis, Room II, Board of Trade, shows the
rappe Of ouotatiOnS.