The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1898-07-27
STOCKS WAKE UP AGAIN
ACTIVE TRADE ON ,CHANGE-FIRsT
TIME IN SEVERAL WEEKS.
Rally I'm Railroad Shares That Ex-
tended Throughout the List-LO-
cal Trade Satisfactory.

At New York, yesterday. money on call
was easy at 1G1A per cent; last loan at Ia.
Prime mercantile paper, 3ls, asked.
Sterling exchange was weak with actual
business in bankers bills at $4.S4a4q4.S5 for
demand, and $4.S315@4SSA for sixty days;
posted rates. $4.s412@4.S5 and $4.S6Q4S615;
commercial bills, 81. S21kQ4s3.
Silver certificates, 5Ss4Q5911c; bar silver,
sec; Mexican dollars, Acc. At London bar
silver was quiet at 275sd an ounce.
Total sales of stocks 321, 900 shares, in
Guiding IA, 100 Atchison preferred 1892 B. &
O., 1890 c., B. & O., 5.775 Louisville &
Nashville, 7,547 Manhattan, 12,075 Reading
preferred, 3,410 Missouri Pacific, 1925 New
York Central, 5000 Northern Pacific, 0743
Northern Pacific preferred, 10,999 Rock ISL
and, 1854 st. Paul, 3,545 st. Paul & Omaha,
3.712 Southern preferred 1850 Union Pacific
preferred, 1880 Spirits. 1850 Tobacco, 6,625
Chicago Great Western. 65S5 Peoples Gas,
1876 Pacific Mail, 1890 Sugar, $3.50 Rubber
and 6,137 Western Union.
There were numerous causes for awaken
ing of the New York stock market yester-
day from the lethargy that has held it for
nearly two months. The bears had their in
nings early in the day. assisted by a lower
range of prices for Americans from Lon
don. Later Northwest and it's subsidiary
road Omaha, led rally and from them the
movement broadened and strengthened all
through the railroad list. Strength was
also radiated from a group of bituminous
coal roads, including Norfolk & Western
preferred, Chicago Indianapolis & Louis
vile preferred, Baltimore & Ohio and
Wheeling & Lake Erie preferred. The
movement in these stocks served to make
rather conspicuous the quietude of other
soft coal stocks which have been assigned
an important place in the pending plan for
amalgamation of the soft coal interests.
The activity and strength in Sugar was also
a dominating influence in the market, ac-
companied though it was by all sorts or
sensational rumorS and very obviously ma
nipulated to squeeze the shorts. Peace ru-
mors were renewed in the later dealings
and the announcement of the successful
landing of the United States forces i'll Porto
Rico also added to the buoyant tendency of
the trading. But the most potent element
in the situation was the growing certainty
that abundance of money would con
tinue at the command of the business or
this country. Sterling exchange fell Ac ad-
ditional in the actual rates and 12c in the
posted rates. Demand sterling at $4S4A IS
within 12c of the level at which recent gold
importations have been made The treasury
has received about sos, 600 600 from the bond
issue, which includes the subscriptions for
$500 or less, without affecting the money
market. Inc payment OF the rest OF tne
subscriptions in inStallmentS will be OFFSET
by the disbursements on war account, thus
assuring the money market against future
disturbance. Call money fell to per cent.
The pressure of idle money was very evil
dent in the bond market, seeking all issues
except the class of gilt-edged bonds which
have risen to practically prohibitive prices;
Total sales, $4.9O5. COO. United States old
tours. registered, advanced u, and the new
threes (when issued), declined Is in the bid
price.
The following table, prepared by L. W.
Louis, Room II, Board of Trade, shows the
rap Of fiOnc.