The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1898-07-08

AT VIEW 1OIh, yesterday, HlOuGy vi Cdll
was steady at 1Q1h per cent; last loan,
Ia per cent.
Prime mercantile paper, 3A@4 per cent
Sterling exchange firm, with actual bust
ness in bankers bills at $4S5a4@486 for de-
mand, and at $4S4s4G4S6 for sixty days;
posted rates, $4.S504.S5l2 and $4S612@4.S7;
commercial bills, $4.s5a4.
Silver certificates, 5S9sG5914c; bar silver,
5SS4c; Mexican dollars, 4514c. AT London bar
silver closed quiet at q 3-1Gd an ounce.
The total sales of stocks to-day were 201,-
100 shares, including: 4,2S5 Canada Southern,
11,340 Chicago. Burlington & Quincy. 65SS
Manhattan, 1850 New York Central 1880
North American, $50 Northern Pacific, 5O9S
Northern Pacific preferred, 1854 Rock
Island, 6120 st. Paul, 1875 Union Pacific
preferred. 1,795 Tobacco, S,425 Peoples Gas,
1,6OO Sugar, 3,945 Rubber preferred.
Yesterdays advance in stock prices was
probably intended as an admonition to the
bear party that it was not to be allowed to
have it's own way in forcing down prices,
and in the existing dullnesS of speculation
the buying gave no indication that it grew
out of an urgent desire for the ownership
of securities, but seemed rather an organ
lied effort to mark up prices There was
some covering of short contracts induced
by the advance, but nothing to show that
there had been any large outstanding short
interest in the market. The advance in
Sugar may have been due to buying by
shorts to realize their profits on the adop-
ton OF the Hawaiian annexation resolution
by the Senate, and probably the demand
from this quarter induced some bidding up
of the stock to exert pressure on the shorts.
The buying of the Vanderbilts was clearly
professional nv large hill inter-
ests. The gains in these stocks ranged from
l to points. The powerful sympathetic eff
feet which this group always exercises
the rest of the list was shown by the gen
eral response after the opening depression
caused by lower prices in London When
the short-lived buying in the Vanderbilts
ceased the general list showed a slightly
reactionary tendency, but not sufficient to
wipe out the earlier gains. The pushing up
of prices is clearly designed to invite out
side interest in the market, but no such in
terest was manifested. There were special
movements of note in the Rubber stocks
and of Manitoba. which is guaranteed to
yield per cert. Great Northern sold
up points and was bid up before the close
points further, to Isl. The pending adjourn
ment of Congress and renewed reports that
Spain was about to for peace, tended to
help the rise. Reports of railroad earnings
were also encouraging, handsome advances
DclIlS SlOWiI over me CO! iSopOHulh5 pei iOu
of last year, outside the grain-carrying
roads, on which the traffic reached abnor-
NAL proportions last year. The money mar
ket continues easy, Notwithstanding that
the banks are losing money to the subtreas-
ury by reason of the collection of subscrip-
tons to the new bond issue. New York ex-
change IN Chicago fell to par, as against
zoe premium Wednesday. There was rise
of Ac in the actual rates for sterling eX
change in response to the hardening in the
London money market
Kings county Elevated firsts were the
feature in bonds. with rise of per cent.
The comparys stock advanced to 121s bid
in the outside market, against sales last
week at per cent. Prices generally were
about steady. Total sales, 81, 800, 000 Quota
tons in government bonds were unchanged
throughout.
The following table, prepared by L. w.
Louis. Room II. Board of Trade, shows the
range Of quotations: