The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1899-11-24
A SEE-SAW OF PRICES
CHANGES WE'RE MIXED IN WALL
STREET SHARES YESTERDAY.
Monon Gained Heavily, but Lost 1t All
-Bond List Is Advancing strongly
Weakners in Local yaIues.

At New York yesterday money on call was
easier at 39T1 per cent; last loan. 3 per
cent; ruling rate, 6 per cent.
Prime mercantile paper 5hn6 per cent
Sterling exchange was easy, with actual
business In bankers bills at A-S& for de-
mand and A.sO7sa4.s1 for sixty days; posted
rates. ALs2G4S2h and s4S6ikQ4.S7: CONNER
cial bills, 81
Silver certificates were 5SAG5sis; bar silver
was 5e1s; Mexican dollars were 47A. Bar
silver at London was quiet at q 5-16d per
ounce.
The New York stock market as a whole
continued dull and neglected yesterday,
while professional operators worked their
will with a few stocks, marking them up or
offering them down successfully. A singular
feature OF the narrow market was the num-
Der of extremely low priced stocks, usually
designated as "cats and dogs" which were
taken up and moved widely. A number of
these were traded In at quotations under $40
per share. and still others at about $40 or
less. Some of these stocks do not appear
in the record for months. and usually only
on the elimination of a furious bull specu-
lation, which picks them for an advance
after every other available stock has been
exhausted. Some of the individual stocks
which rose Wednesday reacted yesterday.
while the other stocks. dominated by iden-
tically or closely affiliated interests, were
moved to a higher level to correspond
There were some points OF weakness,
notably in the anthracite group, on account
OF the discussion Of a new line to be worked
independently, but the undertone of the
market was firm in expectation of a good
weekly bank statement. The strength of
individual stocks had a natural tendency to
keep the general list hard. The money mar
ket did not reflect any increased lending
powers by the banks. The demand for
United States fours of 1925 is an indication
of the transfereIlce OF savings bank invest
ments from the short-term bonds which the
government Is redeeming. The redemption
10 the money market. Some transfers are
also being made from governments into
New York city bonds. an issue OF which has
been made this week. These funds. as soon
as they become available TO the city, will
find their way into the money market
of both the old fours and the fves on the
Stock Exchange has been raised to above
the treasury'S redemption offer. The stiff
pess of the local money rate was sufficient
TO cause a further decline in sterling ex-
change, in spite OF the hardening of dis
counts In London. where there Is a general
expectation OF higher money. Individual
movements of Importance yesterday were
advances in the Chicago, Indianapolis &
Louisville stocks OF SO each. which were
81 In Consolidated Gas on the restoration
of charges by a competing company, indi-
ia each for the Baltimore & Ohio stocks
and of "a and Az, respectively, for the Met
ropclitan Elevated stocks. Leather rose
conspicuously az, while the preferred re-
acted Ia. Sugar was also strong. but did
not maintain its extreme, rise. Quite a
number of minor stocks show gains of a
point or upwards
Dealings In bonds were not large, but
prices were well maintained- Total sales at
par value were $2.0 900. Threes, new tours
and fives advanced y In the bid price.
Following, are the days share sales and
the closing bid prices: