The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1899-07-29
A STRONG UNDERGONE
DEMAND INCREASING FOR STOCKS
AND PRICES ADVANCING.
Heavy Realizing Movement mt the
Close Resulting in Marked Reac-
tions-LocaI Market Quiet.

At New York yesterday money on call was
s1sG4 per cent; last loan. 3la per cent.
Prime mercantile paper. 3i3d4la per cent
Sterling exchange was weak, with actual
business in bankers bills at siS6Bq4.SI Tor
demand and s4.s3ss for sixty days; posted
rates. S4.s41zG4S5 and SASSY; commercial
bills. s4SSq4s4
Silver certificates. 6O4sQ61c; bar silver,
60Ac; Mexican dollars, 4Sc At London bar
silver closed firm at q 11-16d an ounce.
Fridays New York stock market was
strong early and traders generally ranged
themselves on the long side. The shorts
took alarm from Thursdays rise and the
continued upward tendency Friday morning
and covered rather extensive lines. LONDON
marked up prices before the opening and
bought considerable amounts in the New
York market. The sentimental effect OF
this buying was even more pronounced than
the direct demand for stocks The recovery
in French rates in Paris had a stimulating
effect and part OF Londons buying OF
Americans was reported TO be for conti-
mental account. Taken all in all. there was
enough demand for stocks to run the fore
neon business up to within few thousand
shares of Thursdays total transactions and
considerably over the total for some days
or this week. Business Ieil OH, HOWSNeI,
very notably in the afternoon. The public
showed itself chary about coming forward,
and bull operators, in consequence. pro-
ceeded to take their profits on the advance.
The stocks which advanced Thursday and
the day before were especially affected, and
in number of cases were carried below
Thursday nights level. st. Louis South
western, Kansas & Texas preferred, Lake
Erie & Western and the trunk lines were
Won T.laG n
preciable increase in commission house bust
ness This was conspicuous in the grang-
ers, Burlington leading on account Of the
benefit to the crops from rain. The coalers
were notably strong on the approaching OPP
Grafton of a higher scale OF prices. and
Lackawanna. which, in addition. enjoyed
New York, Chicago & st. Louis. rose an ex-
treme four points. Louisville was the leader
and activity. 1t closed at the top price at a
net gain of 2ss over Thursday. Since the
dividend Of per cent. was taken off Thurs
Sugar was in active demand and the price
went higher. Brooklyn Transit rose an ex-
treme ~: There was belated upward
stocks not heretofore affected. Denver &
Rio Grande preferred, Southern Pacific ST.
and the ST. Joseph & Grand Island stocks
gained from one to five points. The late
realizing movement carried prices down
from the best and the market closed dull
and easy To-day's bank statement Is ex-
pected TO show another loss in cash. owing
to operations with the subtreasury, though
there has been net gain on the interior
movement. Sterling exchange was weak
and lower on account of London buying
stocks here and increased supply of COM
mercial bills.
Bonds did not respond fully to the
strength in stocks, but prices are generally
higher. Total sales, 81, 12S,000. United States
fves, registered. advanced Il in the bid
price.
Following is a list of stock sales on New
York Change yesterday, with the closing
bids: