The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1898-04-30
A RECOVERY in STOCKS
CAUSED BY GOOD SHOOTING OF OUR
GUNNERS AT MATANZAS.
Wall street Also Expects News of Ma
val Victory at Manila-LOcaI Trade
Active and Firm.

At New York yesterday money on call
was firmer at 214QS per cent, the last loan
being made at 21s per cent.
Prime mercantile paper, 5G7 per cent.
Sterling exchange was weak, with actual
business in bankers bills at $4S4@4.S4l4 for
demand and at $4.S1q4.s1A for sixty days;
posted rates, s4.S114Q4.S2 and $4.S5Q4S51z;
commercial bills, 81. SOQ4. s01a.
Silver certificates, 5614G5Sc; bar silver,
$3.50; Mexican dollars, 45Ac. At London
bar silver closed steady at % 15-16d an ounce.
Total sales of stocks. 900 shares, in
GLIDING: Atchison preferred, 6,317; Chicago,
Burlington & Quincy. 1882; Louisville &c
Nashville, sos; Manhattan, 1922; Metro
politan, $685.; Northern Pacific, 1855; North
ern Pacific preferred, 12,0S2; Rock Island,
1925; st. Paul, 1896; Union Pacific pre-
ferred, 22,Q32; Tobacco, 17,775; Peoples Gas,
$3.50; Sugar, 99OT.
The New York bull campaign inaugurated
Thursday on Change was continued with
aggressive vigor yesterday in the stock
| market, and prices were lifted from 1 to
nearly points throughout the active list.
The sharp advance did not bring out any
large amount of offers to realize, but there
was some profit taking, apparently by small
traders, in the late dealings, which clipped
off the extreme gains for the day. 1t was
| notable, however. throughout the day that
any marked reaction in prices Immediately
led to a cessation of offerings, and the mar
ket fell into intense dullpess The rather
hesitating and unsettled tone of Americans
in London was ignored, and prices were
confidently advanced here from the open
ing. There was no important opposition to
the bull campaign. and prices moved quite
easily the supply of stocks continuing
rather limited The volume of business
showed further increase over Thursday
and further additions to the list of active
stocks. The speculative leaders, which were
bought by the bull coterie, were followed
by other stocks, whose friends desired to
see tnem Keep pace with the rest of the
market. There were no new developments
during the day beyond the continued conf
oence IN the general situation. The declara-
ton OF neutrality by Portugal may possibly
nave mad some slight influence, but the
main consideration was the satisfaction felt
eyer tet the excellen: gunnery on the United
prizes and the ineffective efforts of the
Spanish gunners. The skill thus demon
strated imparts a strong conviction as to
Early. intelligence is also confidently ex-
pecteq QL naval victory over the Spanish
on on the the philippines The strength Of the
speclaltles, notably Sugar, Manhattan and
metropolitan Street Railway, moved more
orderly than the general list. The grangers.
as usual, led the railroad list Foreign ex-
change was lower, demand sterling break
Ing sharply 1sc, to 1854 The discount rate
In London also declined. This led to re-
neWed talk of gold imports, and the stiffen-
ing IN the call loan rate was further fac
TOR towards this end. The abundant supply
or money which has been available for call
loans has been based however, on the dis
inclination of lenders to put their funds into
time loans and commercial paper Accom-
modations in these departments are now
more. easily had, as the outlook is believed
TO favor easier money conditions. This NAV
nave led to the stiffening in the call loan
rate as tending somewhat to equaIize the
charges in the different departments of the
money market.
There is increased inquiry for railroad
bonds with the promise of easier conditions
on the money market. Prices moved up
wards to-day on an increased volume of
business. Total sales, $1,45O,OO0. Govern
ment bonds were strong The new fours,
coupons, and the twos advanced per cent,
the new fours, registered, and the old fours
registered, u, and the old fcurs coupon,
ana the fives. coupon, a per cent. in the
bid prices. There were sales of the new
tours both coupon and registered, at an
| advance of II over the last sale price but
the old tours, registered, showed a decline
of q on actual sales from the last price.
The following table, prepared by L. w
Louis, Room IL, Board of Trade, shows the
range OF quotations: