The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1898-07-26
LEADING STOCKS HIGHER
ACTIVE DEMAND BROUGHT THE LIST
ABOVE SATURDAYS LEVEL.
Powerful Pool Said to He Cunning for
Shorts i'm Sugar-Local Trade Ac-
tive for Summer.

At New York, Monday, money on call
was steady at 1Q115 per cent; last loan.
IA per cent.
Prime mercantile paper, 1904 per cent
Sterling exchange was weak, with actual
business in bankers bills at $4.S5a4S5 for
demand and at $4SS%@4S4 for sixty days;
posted rates, $4.s5Q4S61a; commercial bills.
$482k@4S3.
59s4c; Mexican dollars, Acc At London bar
silver closed steady at 277sd an ounce.
Total sales of stocks were 2O6, 100 shares,
including SIPS Atchison preferred. 1888 B.
& O., 5,753 c., B. & O., 1,325 Reading pre-
ferred. 3,185 New Jersey Central. 1923 North
ern Pacific, 1891 Northern Pacific pre-
ferred, $40 ST. Paul. S,2S5 Union Pacific pre-
ferred, 1900 U. P, D. & r. G., 1925 To-
bacco, 1920 Chicago G.. W., 6,225 Peoples
Gas, So, 725 Sugar, $3.50 Leather preferred
and 1866 Rubber.
There were some price movements of con-
siderable Importance in leading stocks yes
terday, but the effect on the general list
was only slight. The early heaviness in the
railroads was to some extent corrected,
and the level of prices generally brought
back above Saturdays close. Outside OF
the special cases referred to- however, the
price movement was insignificant and no
large demand for stocks was perceptible.
The most conspicuous stock In the day s
trading was Sugar, in which there was
heavy buying, and prices advanced under
vigorous manipulation. There was no news
forthcoming to account for the rise so FAR
as the prospects of the company are con-
cerned, the outlook continuing, so far as
known, the same as when the recent large
short interest was formed. The making up
of the stock is attributed to a powerful
pool, which has set about cunning for
shorts. The combination apparently had
pretty good success and forced some large
covering orders in the course of the "A
points advance. Some of the industrial
stocks which have recently beer. the OBJ
jects of bear attacks sympathized in this
rise, Peoples Gas and Tobacco rising over
particular inducement for shorts to cover
in the announcement that Lackawanna had
restored the 81 cut in the price of anthras
cite at Chicago, which was the, occasion of
the recent bear raid against these stocks
Gains of l to points resulted all through
the group. Chicago Great Western pre-
the authorized announcement of an impend-
ing dividend. each gaining points. The
ca 20, indianapolis & Louisville preferred
advanced over points. American Express
rose points, Adams Express and Mani
toba l. The days trading resulted in large
ly reducing the outstanding short interest
without arousing any outside inquiry for
stocks
Bonds came to halt again, the Northern
Pacific threes being the only issue to show
conspicuous activity. The government
withdrawal of deposits from the banks mas
somewhat reduced the available supply of
money, but the demand continues SO lax as
to leave rates unaffected. Total sales,
So, 1896, 0OO The new government threes were
quoted on call at the board at 1041sd104ss
when issued, and fol, small bonds, which
States fives declined a in the bid price.
The following table, prepared by L. W.
Louis, Room H. Board of Trade, shows the
range of ullotatiOnS: