The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1898-01-27
FIRMER STOCK MARKET
FINANCIAL SCARE OF MONDAY CON-
VERIFIED INTO STRENGTH.
Sterling Exchange at a Point Where
Imports of Gold Are Expected-LO-
cal Markets Remain Steady.

was easy at 119q2 per cent; last loan at
ia per cent.
Prime mercantile paper. 1884 per cent.
Sterling exchange was weak, with actual
business in bankers bills at $4.S4A for de-
mand and at $4S21ka4S2s4 for sixty days;
posted rates, $4.S3d4.SS1a and $4S515G4S6;
commercial bills, $4.SlM.
Silver certificates, 56A@57Ac; bar silver,
56asc. Mexican dollars, 442lc. At London
bar silver closed steady at 261sd an ounce.
Total sales of stocks, 1856, 700 shares in
GLIDING: Atehison preferred II $50; Chesa-
peake & Ohio. $685. Chicago. Burlington &
Quincy 2l,675; Louisville & Nashville, 1856;
Manhattan, q, 260; Reading preferred, 1886;
Missouri Pacific $780, Missouri, Kansas &
Texas, $500; Missouri, Kansas & Texas pre-
ferred, 2S,92O; New York Central, AZ 1850;
North American, 23,S69; Northern Pacific
1.340; Northern Pacific preferred, 24.2sO; On
tario e Western Il, go; Reading, 1866 Rock
Island, 80 120; st. Paul, q, $50; Union Pacific,
400; American Spirits, 4,1s5; Tobacco, $3.50;
Chicago Great Western, 1866; Peoples Gas
10,100; Consolidated Gas, 4.190; General Elec-
trie, $3.50; Laclede Gas, $500; Sugar, 1874.
IL the strength in Tuesdays New York
stock market was to be attributed to nat
ural recovery from the scare caused by the
Names departure for Havana there could
be no doubt of the underlying strength and
breadth of yesterdays market for secure
ties. The Maine incident has, in fact been
converted into an actual bull factor in the
stock market. The exchange of courtesies
at Havana has been looked on as promis-
ing more toward smoothing relations be-
tween the two countries than anything that
has yet occurred The movement of the
market was broad and deep and left no
room to doubt that large interests were
absorbing securities with great confidence
and on a very heavy scale. Purchases of
blocks of 1000 shares were frequent in lead
ing stocks all through the list and there
were u number of transactions IN bonds in
which 100000 par value changed hands in
one block. Almost every group of railroad
properties in the market was represented in
the advance the continued heavy buying
of New York Central and the vanderbilts
being a decisive influence on the market,
for some time past The grangers, South
ern group the Southwesterns. the coalers
and the KlondiSe group all developed adj
vances from l 10 points. Kansas a Texas
preferred rose points on rumors of an APP
preaching dividend declaration, and New
York Central at one time added nearly 2
more points TO Tuesdays gain. Lake
snore Rock rose Island an Q Mss the the radgr
with a rise of PIP and all the leading MEM
bers of the group rose over point. Read
ing tirsts preferred was in the van of the
.coalers with Il rise of ~. Similar sharp
gains We're scored all through the industrial
list. The group of New York corporations
was exception and showed signs of
heaviness London continued large factor.
though its purchases were probably not as
EXCHANGE reflected ed the further effect Of
this development with a sharp drop of Is
in the actual rate for demand sterling,
bringing II down to S4.S4L. This is the
point which has started the two last i'm
portant movements of gold and there was
talk IN the street of gold imports: This
the hardening tendency of money rates
abroad and the continued ease here. The
local New York money market showed no
effect from the surrender by New York
banks of the first 10 per cent. installment
of the government deposit on account or
the Union Pacific sale. This transaction
resulted in practically wiping out the sub
treasurys debit balance at the clearing
house which has been running recently at
from over half a million to nearly Il mill
lion dollars day. This payment Is pur-
Suant to the recent call of the secretary
OF the treasury. The amount of the first in
stallment is about $2700.000, of which sum
81, 400,0 600 was paid in at Washington. D. c.,
and the rest at the subtreasury. in New
York The subtreasury's part in the trans
action was reflected in the clearing house
statement where the treasury dehis bal
anee reached the unusually low figure OF
Dealings in bonds were large and prices
very generally improved. The Kansas &
per cent. Total sales, $5.570000 United
States old fours, coupon. and the new tours
declined Il bid and the fives coupons adj
vanced + bid
The committee on stock list of the New
York Stock Exchange have listed S1.Si7O00
additional general a. per cent. bonds of
the Chesapeake a. Ohio Railway Company
making the total amount listed $23, 72l 400.
100000 of the St. Louis. Iron
Mountain * Southern Railroad Company
seconds extended 10 1877 at per cent; $780,
900 additional capital stock of the
Chase National Bank, making the total
amount listed 81 100000: 81 500 900 of St Louis
d San Francisco Railroad, Southwestern
division firsts: $6,713, 600 trust receipts for
Baltimore 4 Ohio consol fives with power
to add subsequent amounts up TO Sill .9SS, 600;
So.iuO000 Lehigh Valley collateral trust
fives and S2.2S7.000 additional consol fives of
the Chesapeake a. Ohio Railroad Company,
making the total amount listed SIS. S5S O00
s-1en notice has been received of the re-
uTement OF a like amount of purchase
money bonds due July /.
The following taple. prepared by l.. w
Louis Room II. Board of Trade. shows the
Tango OF quotations.: