The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1898-03-10
LIsTLESS STOCK TRADE
SMALL GAINS NOTED THROUGHOUT
THE LIST At THE CLOSE.
Weakness i'm Foreign Exchanges One
OF the Features of the Day-Local
Markets Active and Strong.

At New York. yesterday. money on call
was steady at 2d21z per cent; last loan, 2
per cent.
Prime mercantile paper, 4Gl412 per cent.
Sterling exchange was weak, with actual
business in bankers bills at $4S37sd4S4 for
demand and at $4s1G4S1A for sixty days;
posted rates, $4S2a4S3 and $4.S5Q4S512; com
mercial bills. $4.SO15.
Silver certificates, 54ssd55c; bar silver,
SIZE Mexican dollars, 44s4c.
Total sales of stocks were $4,000 shares,
including: Atchison preferred. 1884, Chesa-
peake & Ohio, 1850; Chicago, Burlington &
Quincy, 23,066; Manhattan, 1890: Metropoli-
TAM 40; New York Central, 1904; North
ern Pacific, 1920; Northern Pacific preferred,
11,150 Rock Island, 1898; ST. Paul, 1892;
Union Pacific, 1886; Tobacco, Il, 800; Peoples
Gas, $50; Sugar, $3.50.
Trading on the New York Stock Exchange
was listless all day yesterday, with the eX-
ception of an early burst of activity. There
were buying orders at the opening and there
was additional incentive of a sharp recov-
cry in Americans on London exchange, so
that professional traders, who were seeking
the vulnerable points in the armor Of the
bear contingent, succeeded in bidding up
prices to uncover margins of some of the
shorts The resulting scramble to cover
helped the rise, which was most marked In
the specialties, but which extended up to
point also in railroad list. One unimpor-
tant failure resulted from the squeeze of
the shorts. After the reduction of the short
interest prices sagged with only occasional
slight Interruptions during the remainder
of the day. In the late dealings the level OF
the market had fallen practically to Tues
day nights level, but hardening at the
close resulted in a small gain throughout
the day. The progress of a periodical set
Element on the London exchange caused
some buying for that account. The fever
iSh and uncertain tone of the foreign mar
kets were, however, more or less reflected
at New York. The weakness on foreign eX-
changes on reports of international trou~
BILE in Brazil also had its influence in I'M
settling the local stock market. Realizing
in New York Central after the declaration
of the regular quarterly dividend, had a. de-
pressing influence on the list. The contin-
ued engagements of gold for import had no
influence in view of hardness of money
rates. the Stiffening of time money and the
Increased exactions of lenders on mercantile
paper both at New York and other domes-
tic centers Foreign exchange continued
weak, the actual rate for demand sterling
falling to $83Js, and the posted rates being
reduced 1Rc, both for long and short ster
ling. This was in spite of a stiffening of the
discount rate in London, which was, how
ever, reflected in a rise in sterling exchange
both at Paris and Berlin.
The bond market fell into dizziness, and
there were some receSsions from early
prices, but the tone was firmer than that in
stocks. Total sales, 81, AGO. 0e. United States
new fours registered, advanced IA, United
States new tours, coupon, and the old tours,
registered, i; the old fourS coupon, ", and
the fiveS, Il bid.
The following table, prepared by L. w.
Louis, Room IL. Board of Trade, shows the
range of quotations:
ODen- High Low Clos