The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1898-05-27
FEW ACTIVE SPECIALS
MOVEMENT OF PRICES ON 'CHANGE
HARDLY WORTHY OF NOTE.
Bulls Disappointed at No Naval Vic
tory and Bears Take COurage-LO-
cal Trade Holding Steady.

At New York, yesterday, money on call
was steady at 1Q15 per cent; last loan, IA
per cent
Prime mercantile paper, 31zQ41k per cent.
Sterling exchange was steady, with actual
business In bankers bills at S4.861lQ4.S61s
for demand, and at $4.S4A for sixty days;
posted rates, $4.S5 and $4S7h; commercial
bills. 81. S31z.
Silver certificates, 57a4G579sc; bar silver.
$780, Mexican dollars. 4514c. At London bar
silver closed steady at 249sd ounce.
Total sales of stocks, 279,100 shares, in
Guiding: 6,256 Atchiscn preferred, 1851 Chi
cago, Burlington & Quincy, $3.50 Louisville
& Nashville, 1876 Manhattan, 800 Metro
politan, 1855 Missouri Pacific, 4,655 New
York Central, 1910 Northern Pacific pre-
ferred S0,S20 Rock Island 1881 st. Paul,
1892 Southern preferred, 1905 Union Pacific
preferred, $500 American Spirits, II, 700 To-
bacco, 3,O25 Chicago Great Western, II, 440
Peoples Gas, IA, 81 Sugar.
The movement of prices worthy of particu-
lar note in the New York stock market yes
terday was confined to few special stocks,
as was also large part of the activity in
the trading. The majority of the list was
somewhat dull and neglected. This was, in
part, due to contradictory movement of the
few stocks that showed pronounced activity,
but also to some skepticism over the re-
ported presence of the Spanish fleet in the
harbor of Santiago and it's consequent seal
ing up. The fact of the matter is that the
market has been expecting for some time
sensational naval victory and its failure to
respond to the more prosaic results of sue
cessful naval strategy is a disappointment
to the bulls and gives some encouragement
to the bears. There were, however. very pos
tive elements of strength in the market,
which served to lift prices at one time quite
materially above last nights close The
mainstay Of the market was Rock Island,
which rose at one time 22 points. The ap-
preaching meeting of the directors to take
on dividends and the various rumorS of the
rate of dividends and as to measures of dis
tribution of surplus were motives for the
buying. Late profit taking in this stock had
no small part in the final reaction in the
market. Its early rise was supplemented by
buying for London account of the interna-
tional stocks and by commission houses
buying of the grangers. The local traction
well. Great Northern preferred rose an adj
ditional four points, to III, a new high level,
tribution of new stock and the retirement
Of the debenture bonds are imminent. Illi-
nois Steel mounted over points with sub
sequent reaction. The reactionary tendency
centered in Manhattan, which was active
and feverish all day and fell an extreme "a
points, with a net loss of nearly point:
3hSlIOpOllldi OlIS0I halfway oyIHpdIILSu
in this movement, declining points from
the top and III net. This weakness, com
bined with the profit taking in Rock Island,
unsettled the market and almost wiped out
the earlier gains in the general list. Net
changes are, in consequence, small. There
| is a constantly increasing supply of money
offering and the small demand for it indi-
Gates some halting in the business activity
| of the country.
There was no marked activity in the bond
| market but prices were firmly held. Total
sales, 81, 175, 900. United States old tours,
new fours, coupon, X per cent. in the bid
price.
The following table, prepared by L. w.
Louis, Room II. Board of Trade, shows the
range of quotations.: