The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1898-07-21
NEW BONDS At 1858
GOVERNMENT THREEs WERE IN DE-
MAND WHEN ISSUED YESTERDAY.
More Activity I'm Stocks ON Change
and Advance on Covering of short
Contracts-The Local Trade.

At New York, yesterday money on call
was steady at 1AQ2 per cent; last loan, IL
per cent.
Prime mercantile paper, 1904 per cent.
Sterling exchange was steady with actual
business in bankers bills at 81. S51aQ4. S54 for
demand and at $4.S4A@4.S41a for sixty days;
posted rates. $4S51a and $4.S614Q4S7; COM
mercial bills, s4S9Q4.S 31a.
Silver certificates, 5914@59a4c; bar silver,
$3.50; Mexican dollars, 45a4c. At London
bar silver closed steady at q 7-16d an ounce.
Total sales of stocks were 14O,10O shares,
including: Atchison preferred, 10150; Chi
cago, Burlington & Quincy, 1901; Manhat-
tan, 5,244; Metropolitan, 1925 Reading pre-
ferred, 4,1S3; Northern Pacific preferred,
3.O55; Rock Island, 3,245 ST. Paul, 6O73;
Union Pacific, 3.775; Union Pacific, Denver
& Gulf, 5,4OS; Sugar, S155; Leather preferred,
Il, 241; Tobacco, $500; Rubber II S15.
The slight increase in the volume Of deal
ings in stocks yesterday would by no means
warrant the term animated, but it con-
veyed an intimation that business in Wall
street is not entirely dead. Any striking
development in the situation would lead to
an outbreak of activity in speculation. The
morning advance was occasioned by moth
ing more than the covering Of short con-
tracts put out by the small traders yester
day. The assertion that the Madrid Cabinet
had determined on negotiations for peace
was used to advance prices, and it was
rather significant that they held firm in
spite of the demonstrated unreliability of
the report and the decline in Spanish tours
III London and Paris. ReaSsuring official
utteTanceS from Washington regarding the
yellow fever situation, and from the Metro
pOlitan Street-railWay authorities regarding
erect
part of their lines pending reconstruction,
removed the principal elements of yester-
days uneasineSs The foreign crop pros
poets are scanned with the utmost atten-
ton, as the prices of our surplus breadstuffS
The ruling price of cash wheat is almost on
a parity with that of a year ago. But at
that time exporters were doing hand-to-
mouth business because of what they re-
garded as the prohibitive price of wheat.
To-day the farmers are holding back the
new crop through a feeling of dissatisfac-
change market is also showing the effects
of grain bulls coming forward, and is heavy
in tone and dropping towards the. gold i'm
port point after net imports of gold for the
year of about $100, 900 600 New York banks
continue to lose to the subtreasury, and
New York exchange at Chicago yesterday
fell to 20 cents discount. But money con-
tinues easy, and rates for time money are
quotably lower.
reorganization prospects continued, and
there was a distinct awakening of activity
in some Of the other speculative bonds
which moved so conspicdously last week.
Prices in a number of other cases are nota-
bly, higher Total sales, $26O0,O00.
The new government threes, when issued,
were in strong demand on New York
Change yesterday, and 1885 was bid for
them in Wall street. A transaction was
made at 1O3s4. United States new tours
and the twos advanced ! per cent, the old
fours coupon and the fives, registered, a,
and the fives, coupon, Is per cent in the bid
price.
The following table prepared by L. w.
Louis, Room II. Board of Trade. shows the
range of 0uOtatiOnS: