The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1898-07-12
QUIET DAY ON CHANGE
LITTLE DEMAND FOR STOCKS, WITH
PEACE TALK GENERAL.
Spanish FOurs Higher in Paris, Where
the Move for Peace Is Discussed
Local Trade Active.

At New York, yesterday. money on call
was steady at 1Q112 per cent; last loan,
IL per cent.
Prime mercantile paper, 3Ad4 per cent
Sterling exchange was steady, with actual
business in bankers bills at S4.S5s4q4s6 for
demand and at $4.S41zd4.S424 for sixty days;
posted rates, a.s5a4.s51z and s4S612a4S7;
commercial bills, $4.S3@4. $685..
Silver certificates, 5SlsG59c; bar silver,
59lsc; Mexican dollars, 451sc At London
bar silver closed steady at 2714d an ounce.
Total sales of stocks were 2S3 400 shares,
including: Atchison. 3,155: Atchison pre-
ferred, 1920; Chicago. Burlington & Quincy,
n,720; Illinois Central, 1O.Sl3; Louisville &
Nashville, 1927; Manhattan, 1850; Reading
preferred 61S0; Missouri Pacific. 1920; New
York Central, 6,427 Northern Pacific. $500;
Northern Pacific preferred, $3.50; Rock
Island, 4,495; ST. Paul, 1859; ST. Paul &
Omaha, 7,s45; Union Pacific preferred, H.
454 Union Pacific, Denver & Gulf, 1858;
Tobacco, 1855; Peoples Gas, 5000; Sugar,
14,7S5.
Yesterdays New York stock market was
not remarkable for breadth. In fact, the
list as whole showed little activity and
very little movement. There was a distinct
tendency to heaviness in parts of the list,
which might easily have been more pro-
nounced but for the sustaining force of the
strength in special stocks The dullness
generally was the outcome of the uncer-
tainty natural on the eve of an important
military operation. Great confidence is felt
in the early reduction of Santiago, but the
halt in speculation is significant of the de-
sire for accomplished facts rather than
probabilities The effect Of the resumption
of hostilities and the abandonment of peace
talk had better influence on the minds of
foreign spectators than it had even in Wall
street. London sold stocks all day in New
York, and the reaction in Spanish tours in
Paris where the most accurate knowledge
Of Spanish governmental affairs is likely TO
be reflected was even more Significant The
recovery 10 a. is in ST al sh Il urs VI as pos
bly, associated with the conference between
the President and French ambassador at
Washington. But the New York stock mar
ket was redeemed from dizziness and per-
haps from positive weakness by the char
acter Of the buying of special stocks and
railroad bonds. The strength in the early
market was largely confined to the Wander
bits, and the movement in these had be-
come specialized to Illinois Central and
Omaha. Even in these two Omaha reacted
sharply before the close of the day and New
York Central was distinctly heavy in tone
Early in the day Atchison adjustment
bonds showed conspicuous strength, as did
also the Denver & Gulf firsts The buying
was attributed to foreign account, even
while London was selling stocks There
the Atchson adjustments, and there seemed
to be a large overflow demand from these
into the preferred stock. The other South,
Westerns particularly Kansas &, Texas and
Missouri Pacific, showed some tendency to
advance in sympathy. Manhattan also
showed conspicuous strength. but with no
news to account for it. West Chicago
jumped 5 points. but reacted 31a. Net
changes generally were small and mixed
between gains and losses.
There was active demand for some of the
speculative bonds at higher prices Total
sales So 1885, 900. United States fives, coupon
were q lower and United States fives, regis
tered Il lower in the bid price.
The following table. prepared by l.. w.
Louis Room II. Board of Trade, shows the
range of quotations: