The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1898-01-26
CONFIDENCE IN STOCKS
BETTER DEMAND ON CHANGE AFT
ER CUBAN SCARE SUBSIDIZED.
Foreign Houses Once More Bidding
Freely for American Securities
Local Trade i'm Good shape.

At New York, yesterday, money on call
was easy at 11zQ2 per cent; last loan, IA
per cent.
Prime mercantile paper. 303A per cent.
Sterling exchange was weak with actual
business In bankers bills at $S4ss for de-
maud and at s4.S21za4. s2a4 for sixty days;
posted rates, $4S314 e311s and $AS51&G4S6;
commercial bills, $4.s2.
Silver certificates, 56lk@571lc; bar silver.
56Ac; Mexican dollars, 44%c. At London
bar silver closed at 26Isd an ounce.
The timidity manifested by dealers in
stocks on NJ . day, because the war ship
Maine had BEEN ordered to Havana, was
fully equaled by the confidence with which
traders bought back their stocks yesterday,
when the ship had arrived in Havana. The
most notable feature of the days trading
was In the large volume Of transactions
for London account. The number of shares
bought in New York for London was esti-
mated at from $1,000 to $1,000. Even with
this large demand to be filed, prices were
not lifted at the opening fully to the Lon
don parity. The sharp decline Monday
seemed to have awakened a keen demand
in London for Americans, and early quota
tions from there showed Mondays declines
ON this side largely recovered. The strength
Of the Spanish fours in London also indi-
Gated the absence of apprehension of an
embodiment between the United States and
Spain. London gave the tone to the days
market and sustained 1t by the absorption
Of free offerings of securities after the
opening. The foreign buying of securities
effect on the exchange market, the actual
rates declining a. with the demand for
bills very light: London's large buying Of
securities has, in fact, led TO renewed talk
OF early import OF 2OIQ ana THIS
talk is given additional force by the
showing Of merchandise exports from New
York for the week, which was over 100000
in excess of those of last week and over
$S000,0OO greater than those in the CORE
that some of the professional traders who
put out short contracts on Mondays Cuban
scare refrained from covering IN the early
would become easy after London had ceased
operating. The belated shorts rushed to
cover in the final transactions and made the
buoyant tone at the close, which found
prices at the best of the day for the stand
ard stocks. Mondays losses on the average
have been more than recovered. New York
Central was most conspicuous in the deal
ings. with its net gain of over points, and
the stocks of allied properties shared in its
strength to a somewhat less extent. Union
Pacific, the Northern Pacific and the other
properties which go to make up the Klon-
dixie group were all conspicuous for strength
and the grangers and Southwesterns may
be added to the list The local transit and
gas stocks moved in a somewhat erratic
manner unuer palpdDle NldHlpuldllOHl al
showing gains except Third-avenue, which
reacted sharply.
The bond market showed increasing
tivity and strength as the day progressed,
and showed gains, as a rule. Total sales,
3d. 900. United States old fours, regis
tered were Il lower bid, but United States
old tours, coupon and the new tours were
x higher.
The following table prepared by L. w.
Louis, Room ii, Board OF Trade, shows the
range of quotations:
The total sales of stocks at New York
yesterday were 1896 900 shares, including: At
Gibson, 4,121; Atchison preferred, 1890; c.,
81 MsSoi Ia e M NY ,cb Mannatt an
trail $3.50; New York Central. AZ, 4S0 North
ern Pacific, 1920; Northern Pacific pre-
ferred "a 405; Ontario & Western 1900;
Rock Island, 1872; st. Paul. TO- $50; Southern
preferred, 1896; Texas & Pacific, $3.50;
Union Pacific 20, 4S0; American Spirits, $3.50;
Chicago Great Western, $40; Peoples Gas,
S.725; Consolidated Gas. S35; Sugar, 30,940;
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