The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1899-05-17
REVIVAL OF THE BULLS
SPECTATORS AGAIN TAKE UP WORK
LAID DOWN BY FLOWER.
Prices I'm Nearly All the Share List
Forced Upward, Closing with
Smart Gafns-Local Trade.

At New York yesterday money on call was
steady at 21s64 per cent: last loan. pa per cent.
Prime mercantile paper. sha4k per cent.
Sterling exchange was firm. with actual busi-
ness in bankers bills at A.s7K for demand and
at $.ss64SA for sixty days: posted rates. 1850
Assn and Assh: commercial bills. s.s4A.
Silver certificates. e1Kds2c: bar silver. s1Hc;
Mexican dollars. 4sxc. At London bar silver
closed steady at rs 3-1ed an ounce.
Total sales Of stocks amounted TO t4s,si shares.
including: American Steel and Wire. Is, 400: Amer
lean Sugar. 80. 500; American Tobacco. 1890;
Atchison preferred. q. 200; Baltimore & Ohio
Southwestern, 500; Brooklyn Rapid Transit.
81. 200: Contra, Pacific. 1890; Chicago Burlington
e. Quincy rights. $500: Chicago. Burlington &
Quincy. 1000; Chicago Consolidated Traction.
300: Chicago Great Western. 400; Chicago
Terminal Transit. 400; Chicago Terminal Transit
preferred. 400: Colorado Fuel and Iron. $500;
Consolidated Gas, 200: Continental Tobacco,
u. 900: Federal steel. 1850; Federal Steel pre-
ferred. $500: International Paper. $500: Manhat-
ton Consolidated. 100: Metropolitan Street.
railway, 1890: National Steel. $500; New York
Central. 1000: New York Central rights. $50:
Northern Pacific. $500; Pennsylvania. 5000: Peo-
pies Gas. % 300: Reading first preferred. 6,4Oo;
Rock Island. 100: St. Paul. $500: Southern
Pacific. %. 700: Tennessee Coal and Iron. $500;
Union racine, o,fV, Union racine preferred, o'oVvs
United States Rubber. 5000.
Yesterdays New York market was remarkably
quiet after the recent excitement. the total sales
being little more than half the number of shares
sold during the panicky two hours of Saturday.
Apparently there was no such thing as a bear
speculator In existence. but with the exception Of
slight irregularity in prices at the opening and
a slight relaxation in values in the last hour OF
the market. the course Of prices was steadily
held or moved increasingly upwards. This was
rather contrary to the general expectation. which
was that prices would tend downward In the
absence Of buying by shorts. who were largely
closed out by yesterdays rise and with a less
strenuous support from the powerful alliance Of
capitalists. who came to the rescue OF the mar
kets. This combination was believed to be simply
for the purpose OF sustaining the market against
any precipitated attempt at liquidation. The bull
movement which the late Mr.. Flower and his
associates had inaugurated previous to his death
was considered to be bold under existing condi-
tions and its continuance in full force was hardly
looked for. Under the circumstances there seemed
a fair probability that some of the uncertainty
incident to the season might cause a reactionary
tendency for a time. but the professional traders,
after the early transactions. took the long side
of the market and there was uninterrupted alb
sorption of the varied list of stocks throughout
the day. ANY interruption to the advance threw
| the market into a lethsrgy and nothing but a re-
sumption Of the rise brought any activity. Lon
don was scarcely a factor either way. the market
there being neglected on account OF uneasiness
over the situation in China. A slight hardening
In the rate Of exchange had no other explanation
| than this same uneasiness. Money in New York.
however. worked decidedly easier under the In
fuence Of receipts from the interior. The money
market benefited by Monday s payment OF the
final installment Of IS. 900. 900 to Spain on account
Of the Philippine purchase. The Flower stocks.
especially Peoples Gas and Brooklyn Transit.
ment. but there were notable advances also In
the stocks Of other New York municipal corpora
tons on the prospect Of a granting of the Ford
franchise bill. Stocks Of the various steel and
iron companies were also strong and there was
activity and strength in Chicago Terminal. In
the railway list Central and Southern Pacific rose
nearly 3 per cent. on a belief of a beneficial effect
| other railroads advanced a point or over and
Sugar is up three points on the day. Tobacco
gained 5h points The closing was near the top
and firm. but quiet.
The advancing tendency Of prices was marked
also in the bond department. There was a heavy
| absorption Of Rock Island tours and the Atchison
| adjustment fours, and Wisconsin Central frsts
| United States threes declined u in the bid price.
The following table. prepared by l.. W.. Louis.
Room II. Board OF Trade. shows the range Of
ullotationS.