The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1898-03-17
SMALL STOCK SUPPLY
PRICES MOVED UPWARD EASILY
WITHOUT UNUSUAL INFLUENCE.
Better Feeling Over Cuban Situation
Encourages the BuIIs-LOcaI Mar
kets Under the Weather.

At New York yesterday money on call
was steady. with actual transactions at 11z
@219 per cent, the last loan being made at
per cent.
Prime mercantile paper, 41zd5h per cent.
Sterling exchange was steady, with actual
business in bankers bills at S4SSl5q4.s3ss for
demand and S4.S0iz for sixty days; posted
rates, $4S115Q4.S3 and $4.Si1zQ4.S515; CONNER
cial bills. sl.791kQ47sa4.
Silver certificates. 55d5534c; bar silver.
55Ac; Mexican dollars. 45c. At London bar
silver closed dull at 255sd an ounce
Total sales of stocks. 1900 shares, in
GLIDING: Atchison preferred $40; Chicago,
Burlington & Quincy, 1880; Louisville &
Nashville, 1855; Manhattan 27,135; Metro
politan 1880; Missouri Pacific. 1876; New
York Central. 1920; Northern Pacific, 1890;
Northern Pacific preferred. 27,9O5; Rock ISL
and, 1880; st. Paul, 40,6SO Union Pacific,
1920; Tobacco, S2,4S4; Peoples Gas, S6O5;
Sugar, S4,61e; Western Union, $780,
The early strength in yesterdays stock
market was repetition of Tuesdays move
ment, but prices resisted the late pressure
for decline, and, as consequence show
substantial net gains all through the list.
The bulls had the advantage also OF LIgher
prices on the London exchange and al
though prices Immediately rose Duoyantly
above the London parity, there was con-
spicuous buying for London as late as bust
ness was done in the British capital. The
London buying was certainly due to a feel
ing at that center that there is a more
promising prospect as to affairs between the
United States and Spain. This feeling was
SHOWN also iii quite buoyant tone for the
spanish tours, which rose IA in London and
q IN Paris. There was undoubtedly preva-
n IN Veil -
outlook was more peaceful, and such of the
days developments as had a more threat
enlng aspect were ignored. Among these
was the Spanish governments semi-Official
announcement of its opinion on the MAIN
tenance by the United States of the fleet
IN Florida waters. The news that official
attention had been called to this opinion by
the Spanish government would have been
sufficient to demoralize the market a week
ago. But the underlying convIcuIon in Wall
street is that the authorities at Washing
ton have come to indulge hope of a peace
tul settlement. The continued preparations
for defense and such incidents as those of
yesterday do not wholly dissipate this con-
vtction. Nevertheless, operations are not
on large scale pending a definite decision
was not large to-day, and prices moved
easily upwards without any heavy transac-
tons. A part. of the buying was attributed
to large bull interests, but much of it was
also supposed to be the covering of the
shSrt selling which caused the late decline
Yesterday The bears were apparently
.
and the high level of prices was not seri-
ously impaired. The hope of a successful
adjustment of the traffic rate controversy in
the Northwest was quite an important fac
tor in the advance here and IN London for
Americans. The local and industrial spe-
claltieS led to-dayS advance, but the gram
gers, NorthweSternS and international
stocks in the railway list were also con-
spicuously strong. Heavy additional en-
gagements of gold for import were made to-
day without affecting the steadiness of the
exchange market below the gold import
point. The total gold movement from Eu-
rope on this movement has now reached
$24, 1900, and it shows no sign of subsid-
ing, in spite of the growing tightness of
money in London and in European centers.
The accumulated stocks of exchange are
supposed to have been somewhat reduced,
but there is undoubtedly large supply still
remaining, and the continued heavy out
ward movement of merchandise is constant
ly bringing new bills into the market which
are sold against gold imports as fast as
they come forward.
Bonds were strong throughout, in sympa-
thy with stocks. Total sales, 81 $50, 900.
United States new tours, the ffves and the
old fouTs, coupon, each advanced u bid to-
day.
The following table prepared by L. w.
Louis, Room H. Board of Trade, shows the
range of quotations: