The Indianapolis journal., 1899-07-28

TOWARD THE CLOSE THE LIST BE-
CAME EXTREMELY ACTIVE.
Both Trunk Lines and Grangers Took
Part I'm the Advances That Were
Made-LocaI Markets.

At New York yesterday money on call
was steady at 3l2G4 per cent; last loan,
per cent.
Prime mercantile paper, 3lzdts per cent
Sterling exchange was easier. with actual
business in bankers bills at $4-sT14G4ss1z for
demand and at s4s324d4s4 for sixty days.
posted rates. As5n4s51a and $4.ssG4Ssls:
commercial bills. $.S3G4. .s312.
Silver certificates. 6o5sd61c; bar silver,
6O4c; Mexican dollars. 4sc. At London bar
silver closed quiet at 27 11-1ed an ounce.
The New York stock market continued
narrow and professional yesterday until the
last hour. when there developed more anirna-
ton and strength than had been noted for
many days past. The late movement seemed
to start with strength simultaneously dis
played by Lake Erie & Western. Pittsburg.
Cincinnati. Chicago & st. Louis and Pitts
burg & Western preferred. These stocks
gained from ia for Lake Erie & Western
to four points for Pittsburg. Cincinnati, Chi
cago & st. Louis. The marking up of Sugar
an extreme 21z and the rise in New YORK
Central to 40 helped on the movement ana
the general market arose above wednesday
nights level. Quite an active demand sprans
up for the grangers and lifted Burlington
over a point. The activity Of the market
did not become general, however, and gains
were not at all uniform. The traders were
bearish in the early part of the day, out
finding that prices resisted pressure, they
turned to the long side, encouraged by the
strength of special stocks. The movement
in Rock Island and the Southwestern stocks
showed some diminution under profit-taking,
but Kansas & Texas preferred retained its
strength and advanced over a point. Sugar
oIx ipo TOM
the first and Louisville & Nashville. which
sold ex. dividend of per cent. regained Us
of that amount There a midday ad-
vance in the Tobacco stocks, which helped
on the upward movement Continental COM
mon rising Ia; the preferred and American
Tobacco a point. The mailing stocks re-
covered smartly from Wednesdays prices
and Laclede Gas jumped 31z points.
The developments in the money market be-
got increased confidence. Yesterday and
Wednesday there have been large loans
made on time in the Stock Exchange. from
which il is argued that operators feel the
possibility of demand for money that may
stiffen call rates and desire time loans on
securities they are trying to hold Tor long
pull. The fact that the Bank or Englano M
did not increase its discount rate served to
lessen anxiety on the money question ana
the weekly exhibit of that institution
showed the open market udQ Decu dpiS ~
reduce its loan obligations to the bank very
heavily. The sharp fall in French rentes
and reports of political crisis in that coun-
try were without much effect in New York.
The money situation was somewhat relieved
by the transfer of funds from the SUBJ
treasury TO the banks on the payment Ior
the new custom house site in New York and
1t became known that the government had
ceased for the time being its weekly with
drawal of deposits from the New York
banks, which have been at the rate OF
81 .O00,O0 a week for some time past. The
June statement of earnings completing the
fiscal year for a number Of roads were
favorable factors. especially that of st.
Paul. showing an increase in the net for the
year of 81, ,379 69S.
The bond market did not show much re-
sponse to the strength in stocks and frac-
tonal declines were the rule. Total sales,
par value, $1,610,OO0. United States new
fours, registered, declined "a, and the old
fours. registered. and the fives, registered,
s in the bid price.
Following is the list Of stock sales on New
York Change yesterday, with the closing
bids: