The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1898-06-24
STIMULUS FOR STOCKS
GOOD WEATHER AND LANDING OF
SHAFTER'S ARMY HELP PRICES.
Advances in the Specialties Gave
Strength to the Entire List of
Shares--LOcaI Trade Brisk.
At New York. yesterday. money on call

At New York. yesterday, money on call
was easy at IA per cent.
Prime mercantile paper, 3d4 per cent.
Sterling exchange was easier, with actual
business in bankers bills at 81. S5as@4.S518 for
demand and at $4.837s@4S4A for sixty days;
posted rates, s4.S544S5h and $4.S61b14.87;
commercial bills, S4SS
Silver certificates, 5Sa4d59c; bar silver
5S5sc; Mexican dollars. 451sc. At London bar
silver was quiet az 271sd an ounce.
The total sales of stocks were 300, 300
shares, including: 4.52S Atchison preferred
17,9l5 Chicago, Burlington & Quincy, 5,715
Cleveland, Cincinnati Chicago & st. Louis,
S572 Manhattan. 3.459 New York Central,
e210 Northern Pacific, 1920 North
ern Pacific preferred, 1920 Rock ISL
and. 1856 st. Paul, 14760 Union
Pacific preferred, 26,2OO Tobacco, 1888 Peo-
pies Gas, $50 Pullman, Sc, 700 Sugar 5,775
Tennessee Coal and Iron, 2O107 Western
Union.
Good weather in the West and the landing
of considerable part of the American army
near Santiago, together with firmness in
London, acted stimulus in yesterdays
New York stock market. The persistent
drives by the bears agaist special stocks
which was feature of the trading for some
time was lacking and in consequence the
apparent change of front by these interests
was reflected in substantial advances in
Sugar Peoples Gas. Tobacco, Brooklyn
Transit and Manhattan. The buoyancy ex-
hibteG by these properties exerted health
full influence on the general railway list
which was consequently augmented by the
execution of fairly large buying orders in
the Vanderbilt properties notably New
attention than for a long time, and con-
spicuous advances were registered in Bur
ltngton u Rock Island. The revival of IN
quiry for the Pacific Northwestern stocks
lent color to persistent rumors that an
amcable settlement of the transcontinental
rate war may be shortly forthcoming. Evil
dence of new commission house purchases
also contributed to a brisk covering demand
throughout the list Some of the hgn-priced
investment shares responded in a note
worthy extent to a moderate inquiry, nota-
bly, Pullman, which figured for rise of
ing the day displayed stagnation, but prices
nevertheless forged constantly upward.
Operations for arbitrage account were in
fairly large volume and included sales of
most of the international favorites. The
offerings from this source, however, were
well absorbed and the steadiness of the
local speculation induced some purchases
for foreign account, mainly in st. Paul.
A development which has been regarded
with considerable qualification by substan-
tial interests has been the growing expan-
sion in railway and miscellaneous bond OPP
erations which. in a measure. reflects the
general healthful tone of finance. Opera
lions in this department embraced an extern
Sive variety of mortgages with demand for
the issues of reorganiZed properties eXcep-
tionally heavy. The aggregate transactions
were $3.0S0.000.
Government issues also participated in the
general strength, the old tours, registered,
improving u per cent. and old tours,
coupon, and the new fours, a per cent.
each on call.
The following table prepared by L. w.
Louis Room H. Board of Trade, shows the
range of quotations: