The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1898-05-20
WALL STREET GLOOMY
BECAUSE NO NEWS OF THE NAVAL
PROGRAMME is OBTAINABLE.
No Success Attending Any of the At
tempts to Elevate Stock Prices-Lo-
cal Trade Active and Strong.

At New York yesterday money on call
was steady at 119Q2 per cent, the last loan
being made at IA.
Prime mercantile paper, 41596 per cent.
Sterling exchange was easier, with actual
business in bankers bills at $4.S6a4SsA for
demand and at $4.s3Q4SSA for sixty days;
posted rates, $4.SS19Q4.87 commercial bills,
$4.S21a
Silver certificates, 57AG575sc; bar silver,
size; Mexican dollars 45Ac. At London
bar silver closed quiet at 26 7-16d an ounce.
Total sales of stocks, 259,6O0 shares, in
GLIDING: Atchison preferred, 1905; Chicago,
Burlington & Quincy, 11,O96; Louisville &
Nashville. 1922; Manhattan. 22,69O; Rock
Island, 1880; st. Paul, 3SS26; Union Pa
cifc, 12,244; Tobacco, 29,S51; Chicago Great
Western 1852; Peoples Gas, 5,351; CONSOLE
dated Gas, $3.50; Sugar, $3.50; Leather, 4,31;
Leather preferred, II ,255; Rubber 1920.
No great success attended any effort to
awaken active speculative interest in stocks
on New York Change yesterday. There
was, in fact no very vigorous effort to do
so, the powerful influences in the market
being apparently content to rest on their
oars and wait for more definite information
of the operations of the opposing fleets in
West Indian waters. The measures taken
by the government to shut off all informa-
ton on this subject have apparently proved
entirely successful, and Wall street was
completely in the dark. Even rumors on the
subject, which are likely to prove plentiful
in such circumstances, were not forthcom-
ing, and the market was consequently dull.
There were a number of conspicuous adj
vances during the day, but they were by
no means uniform nor were they simultane-
ous First one stock then another seemed
to be the object of some special demand,
but these isolated movements had very lit
tie influence on the general list. Sugar was
the most prominent Of such stocks and adj
vanced suddenly about points after peri
cd Of early hesitation. Tobacco also had
its period of strength. Rock Island con-
tinued to lead the grangers, and rose at
one time to 102, the highest point on the
present movement. The grangers were also
quite strong, though the volume of deal
ings was below that of the last few days.
Later in the day Manhattan enjoyed peri
cd of activity and strength. This kind of
demand seemed to have exhausted itself late
in the day, and the emi-stagnation which
ensued encouraged the bears to make a
desultory attack prices, which yielded
all around, in some cases nearly a point.
ably below the highest, but with notable net
gains still remaining. for many prominent
stocks. A feature of the trading was the
way in which stocks which have lain dor
mant for some time were awakened into
movement, and in almost all cases this
movement was sharply upwards. There
was also considerable demand for small
lots of dividend-paying and higher-pficed
investment stocks, such as is always con-
current with release of large sums of
money and an extension of credits.
Bonds showed a notable awakening into
abundant supply of money. The Missouri
Pacific issues were all in demand, and were
advanced from 11s to 912 per cent. There
were very heavy dealings also in Union
Pacific fours at a slight concession from
last nights price. Total sales, $2,375,OGO
United States new tours, registered, de-
clined Il and United States fours, coupon,
Is. in the bid price. There were no other
changes.
The following table, prepared by L. w
Louis, Room II, Board of Trade. shows the
range of quotations: