The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1899-11-30
FRACTIONAL GAINS ONLY
NEW YORK STOCKS A LITTLE HIGH
Err DESPITE CASH SITUATION.
Close OF Bond Redemption Period
Finds Only n Half of the Total
OHered-Heavy Local Business.

At New York yesterday money on call
closed easier at SG7 per cent: last loan, 8
per cent: ruling rate, Z per cent.
Prime mercantile paper, 5lzd6 per cent.
Sterling exchange was steady, with actual
business in bankers bills at A.s5%q4ss for
demand and &.S0BG4d for sixty days:
posted rates. A.S21z and A.S; commercial
bills. ANG4.Sh.
Silver certificates were 5sAd59kc; bar sill
yer was 59Ac; Mexican dollars were 47Ac;
bar silver at London was steady at q 5-16d
per ounce.
Prices of New York stocks were, on the
whole. well sustained yesterday. in spite of
some factors making for reaction. Chief of
these was the continued hardness of the
money market. the further slump in Leath-
er and the movement TO take profits in the
trunk line stocks, which have advanced so
aggressively for some time past. This
profit-taking movement was the nearest to
official confirmation that could be had of the
numerous published reports and rumors Of
a consolidation OF control OF the great trunk
lines. Those favored with advance informa-
ton Of such a project would naturally be
sellers when the news became public prop
erty and brought In outside buyers. A good
proportion of yesterdays outside buyers,
thus invited, operated by cable orders from
London. Americans shared In the general
strength in that market on account of re-
ports Of British military successes against
the Beers. London buying was also at
tracted by the publication of the currency
reform measure 10 be pushed by the DOM
inant party al the coming session of Con-
gress. This buying for London account was
the mainstay of the market, and the spotty
strength displayed here and there by indi-
the market firm in face OF the uneasiness
over the money outlook. To-day's holiday
also prompted some closing. up of short ac-
counts. While London's buying was the
main sustaining factor. the further harden
ing in the London money rate and fears of
an advance In the Bank of England rate
to-day discouraged operations for the long
account. The demand for money kept the
rate at z per cent. and above until 1t had
been mostly satisfied. when 1t fell below 4
per cent In the late dealings. and the stock
market hardened in response. The sub
treasury's disbursements on account OF
bond redemptions were considerably below
$~2.OoO.o00. and the treasury statement from
Washington showed the days revenue re-
ceipts nearly 81. 100000 In excess of expendi-
lures; AS Yesterday Has the last day day. for
redeem bonds holds good. the total dis
bursements for redemption are but little
The feeling sn IS general in Wan 'e Street. how
ever. that the period of the offer will be
extended and a safety valve against pres
SuAC VI nhohcy IdteS tuus Suppleu- "A IuE-
ther decline in New York exchange at Chi
cago To SOC discount, against 9c Tuesday,
and a downward movement in New York
exchange at other domestic centers were
against the supposition that New York is
gaining this week on the interior currency
movement. as was the case last week. Frac-
tional net gains are the rule in stocks. and
they rise to a point or over in only a few
exceptional cases.
The bond market was quiet and prices
showed some Improvement as the day pro-
crossed. Total sales at par value were
81 .935.0o0 United States threes advanced sc
an the bid price.
Following are the days share sales and
the closing bid prices: