The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1899-11-23
FEW A GAINS MADE
MONON AND BIG FOUR SHARES WELL
UP IN THE RISING LIST.
Genera Trade Stagnant Under Tn
favorable Money COnditfons-Bad
weather Affects Local Trading.

At New York yesterday money on call
was firm at 6IS per cent; last loan. 6 per
cent.
Prime mercantile paper, 51zd6 per cent
Sterling exchange was weak. with actual
business in bankers bills at A.s51zq4SSA for
demand and A.s1Ad4S1% for sixty days;
posted rates. a.s21a64S2zs; commercial bills,
SiSi.
Silver certificates were 5SAG59l9; bar sill
yer was 59c: Mexican dollars were 4713c.
Bar silver at London rose TO 21i4d per ounce.
The New York stock market drifted rather
aimlessly yesterday under the influence of
renewed uneasiness over the money situa-
ton. A moderate demand for London ac-
count lifted prices at the opening and dur
ing the course of the day there were isolated
movements in a number of individual stocks.
But the influence of these demonstrations
of strength in spots on the general market
was small and the tone was sluggish
throughout. Dealings were narrow and
wholly professional. The money market
rose to s per cent. during the day and there
was a renewal of the disposition to dis
eliminate against the industrial stocks as
collateral. The nominal rate of interest in
such cases was eked out by the require
ment OF extra commission and the margin
between the amounts loaned and the ruling
valuation of the stocks was increased. The
offerings of government bonds for redemp-
ton at the subtreasury fell to Insignificant
proportions. New York exchange was nota-
bly, weak at a number of important domestic
centers, falling to 20 cents discount at Chi
cago, against par Tuesday, and declined
sharply at st. Louis and Cincinnati. Per-
sons interested in the money outlook are
keeping one eye on the foreign markets.
The hardening discounts in London yester-
day may be significant of future pressure
from that source. though the situation in
New York was sufficiently pressing to cause
a decline in sterling rates, in spite of the
London movement. The Paris discount rate
held firm at &c above the banks official
rate. giving ground for expectation of an
advance to-day in the Bank of Frances
rate. New York banks have gained s. $50. 60
on suotreasury operations since last Inurs-
day. and yesterdays clearinghouse state
ment showed a debit balance against the
subtreasury of over 100000. These are re-
Elections OF the government bond redemp-
lions and give promise OF a good showing In
Saturdays bank statement. The proceeds
OF the bond redemption have not afforded
any great relief to the speculative world
and the market is disposed 10 await further
developments. Small net gains are the rule
on the day and a few stocks show notable
advances. General Electric gained 3l2 and
Cleveland, Cincinnati, Chicago * st. Louis
23s. Baltimore * Ohio rose over a point
and the coalers showed some strength. The
Chicago, indianapolis * Louisville stocks,
the Chicago Terminal stocks. the Rio
Grande Western stocks. the Buffalo. Ro-
chester * PittSburg and one or two Others
show gains of from / to 3a points. Losses
OF a point are shown by a number of incon-
spicuous stocks.
There was realizing in some of the bonds
of the speculative grade. but very good
absorption at some other points. Tota.
sales. at par value, were 2.S15,000. United
States twos advanced 4 and the threes and
old and new tours 4 in the bid price.
The Stock Exchange will be closed Satur'
day out OF respect TO the late Vice Pres
ident Hobart.
Following are the days share sales and
the closing bid prices: