The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1898-07-30
STOCK LIST NEGLECTED
FEW TRADERS ON 'CHANGE AND
FLUCTUATIONS MARROW.
Bears the Only Operators Attempting
Any Active Manipulat ion-LO-
cal Trade Active.

AT New York yesterday money on call
was easy at 1@11z per cent; last loan,
per cent.
Prime mercantile paper 911d4 per cent.
Sterling exchange was heavy, with &C
tual business in bankers bills at $4.S5Q4S5A
for demand and at $4.s9Aq4.SS15 for sixty
days; posted rates. $4.S41s@4.S5 and 1850
1863; commercial bills, $4.S212.
Silver certificates 5SAQ5912c; bar silver,
$3.50; Mexican dollars. 4512c At London bar
silver closed steady at 27d an ounce.
At New York total sales of stocks, 207, 800
shares, including: Atchison preferred, 100;
B. & o., 3043; c., B. e. O., $500; Manhat-
tan, 1884; Metropolitan, 1924; Rock Island,
1884; st. Paul, 4,545; Union Pacific pre-
ferred 1855: Tobacco, $3.50; Peoples Gas,
IL, 455; Sugar, 40,O55; Rubber, 17,175; Rubber
preferred, 5000
The insignificant changes in most stocks
are fair indications of the neglected condi-
ton of the New York market. The prospects
of early peace with Spain, the assurance
of cheap money and the already secured
crops are not sufficient to induce buyers
to- take stocks. Holders are equally averse
to selling at the existing level. Such mar
ket naturally invites aggression by the
bear element, but the professional maneuver
of selling shorts some one stock or group
of stocks which is particularly vulnerable
again failed to make any notable impress
sion on the general list, which continues
inactive, apparently waiting for business
conditions to change either for better or for
worse. Dealers in stocks keep one eye per-
petually on the grain markets these days.
The granger crowds reflected yesterday
some feeling of relief over the reported
rains in the corn belt, but on the other
hand the drift of the price of wheat away
from the dollar mark which was the magic
touchstone in all of last years bull market,
is one of the unsatisfactory elements in the
outlook. 1t is only in response to foreign re-
graz ger stocks move together and the
future need of foreign countries and the
dimensions of foreign crops are not yet
sufficiently defined to indicate what the
market for our surplus grains will amount
TO. Authoritative statements of worlds re-
serves of old wheat show them to be at a
very low ebb But prices abroad reflect the
conviction of an abundant new crop from
foreign wheat production countries. The
dizziness of yesterdays stock market was
varied only by the manipulative movements
OF the industrial specialties, particularly the
Rubber stock, Sugar, Brooklyn Transit
Metropolitan Street Railway and New York
Air Brake. Peoples Gas reacted from
| from realizing on the favorable decision in
| the dispute over back taxes. Sterling ex-
change showed a heavy tone early in the
gay, put anticipations of gold engagements
| FOR import were Disappointing
Bonds were relatively more active than
| stocks and the demand quite widely diffused
| Tor all grades below the gilt-edge shares
Total sales, 81 $4,000. United States fours
advanced "a and the threes when issued. Il
| per cent. in the bid price.
The following table, prepared by I. w
| Louis, Room II, Board of Trade shows the
| range of quotations: