The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1898-08-23
TRICK PLAYED BY BULLS
ORDERS SENT TO LONDON AND
PRICES UP ON AMERICAN SHARES.
Gains Not Well Maintained and Gem
eraI Losses Recovered at the Close
Local Trade Active.

At New York, yesterday, money on call
vas steady at 112Q2 per cent; last loan,
IL per cent.
Prime mercantile paper. S34d4 per cent.
Sterling exchange was easy, with actual
business in bankers bills at $4.S51sQ4S514 for
demand and at 81. $500. S35s for sixty days;
posted rates, s4.s4Q4.s412 and S4.s6; CONNER
cial bills, s4.S211
Silver certificates, 59AQ59a4c; bar silver,
$3.50; Mexican dollars. 4Sc. At London bar
silver closed firm at 271zd an ounce.
Total sales of stocks, GIL 400 shares, in
cluding Atchison preferred, 1912; Chesa-
peake & Ohio, 1920; Chicago, Burlington &
Quincy, 1875; Illinois Central. 57S5; Louis
vile & Nashville, rs 100; Manhattan, 1855;
Metropolitan, 3,420 Missouri Pacific, 1850;
New York Central $3.50; Northern Pacific,
$500; Northern Pacific preferred 1900;
Rock Island, 1885, Union Pacific SO $40:
st. Paul, 1880; ST. Paul e. Omaha, 1856;
Southern, 4,170; Southern preferred, 1850;
Texas & Pacific, 1920; Union Pacific pre-
ferred, 1885, Wabash preferred, $3.50; Cot
ton Oil, A,000; Cotton Oil preferred, $40;
Spirits, 1900; Tobacco, 4l9O; Chicago Great
Western, 14,44O; Peoples Gas, q 7SO; Con-
solidated Gas, 1880; c., F. & l., 5000; Illinois
Steel, $780, Lead, 3170; Sugar, 2S,65O; To-
ledo, Columbus & indianapolis, 6,91S;
Leather preferred, 9,42O; Rubber, 6.0S2;
Western Union, $500.
The New York stock market resumed its
familiar character of the greater part of
last week yesterday, with the exception
that the early strength of stocks was not
fully recovered at any time subsequently.
In fact, the closing was rather easy in tone,
prices being sustained with apparent diff
but somewhat above the lowest. In the
grangers the opening prices were the best,
at level of about 1Ql1a above the buoyant
top prices of Friday afternoon. This level
was helped by the marking up of Americans
in London before the opening here on ca
bled orders from New York. 1t was the evil
dent purpose to make the opening high for
liquidation of profits. The commission
houses were known to have a large vol
ume of orders to buy. and in many cases
there was no price restriction on these the
order being to buy at the market. The
realizing sales in the first hour were very
heavy, and, in spite of the large outside
demand, prices of the grangers melted
away before the profit-taking sales When
st. Paul had entirely lost it's advance there
was letting up of the pressure to sell,
and prices turned upward again. The tone
of the group was somewhat heavy for the
rest of the day, though st. Paul rallied
above 113 before the close. Pacific stocks
also showed evidence of profft-taking, but
the Northern PacficS rallied on the showing
of an increase of earnings for the second
week in August of $16,544. There was heavy
buying of Atchison preferred during the
day, and Louisville & Nashville advanced
over point near the close on report of
projected steamship line to Havana. There
were most extraordinary price movements
in special stocks, Minnesota Iron covering
a range of ii points and Illinois Steel about
points, in efforts to adjust proportion Of
valuation on the consolidation Interna-
tional Paper stocks were UP IL points, and
Consolidated Gas had a break of about 10
points. Cotton Oil advanced A. and the
preferred SIS, and Rubber preferred gained
almost points and lost it all. There were
extreme movements and there were subSe-
quent reactions and recOverieS which re-
duced them. Manhattan was consistently
weak, and Peoples Gas was raided down
recovered. The railroad list generally held
very firm, in spite of the influences of
weakness in the specialtes and profit-tak-
ing in the grangers, many stocks showing
gains ranging up to point or over. Ster
ling exchange showed further decline on
don in this market The break in wheat
had a somewhat unSettling effect in this
market. but the large increase of primary
receipts makes for the benefit of the rail-
roads.
The bond market was active and showed
higher prices, the Aatchison issues being
conspicuous. Total sales, SO, $4,000. United
States old fours, registered. declined Il, and
the threes. when issued Il in the bid prices
The following table. prepared by L. W.
the range of quotations.:
Open High Low Clos