The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1899-11-16
HELP FROM WASHINGTON
WALL STREET WILL GET 1T IN THE
PURCHASE OF L. $. BONDS.
S25.OOO.O0O to BE Taken at Tuesdays
Prices-Shares strong I'm spots
Wednesday-LOcaI Trade Activity.

At New York yesterday money on call
was easy at 5Hs per cent; last loan. 3; ruling
rate. Z. Prime mercantile paper. 5q5A.
Sterling exchange was firm. with actual
business in bankers bills at siS5l4q4S512 for
demand and SiS14 for sixty days; posted
rates S4S11sGSiS2 and $4s6d4 s612; CONNER
cial bills $i.s0l
silver certificates were 5s54 n6Oc; bar sill
YER was 5Sa4c; Mexican dollars were 471@c
Bar silver at London was easy at q Lied
per ounce.
There was a show of strength in New
York stocks yesterday. owing to the large
operations by professional spectators in
number Of the prominent industrial special
ties, notably Sugar. the Leather stocks,
some of the metal issues and New York
public utilities. all of which show large
gains There were strong advances in New
York Central on the announced settlement
OF differences over the Boston & Albany
lease; in Southern Pacific, on the continued
large absortion by banking interests; in Pa
cific Mail, in anticipation of action on the
dividend; in coalers. OH the good condition
of the anthracite trade: and in the AtchiSon
stocks. The level Of prices, on the whole.
Is higher. but the activity was not very
widely distributed, and the general disposi-
fion was to maintain a waiting attitude.
lending further developments in the money
situation. There was no recurrence of ca
IRENE stringency In the local money market.
Secretary Cages announcement that the
treasury would buy s25,O0O.0O0 Of United
States bonds at the price at which they were
quoted on the New York Stock Exchange
Tuesday was not made until after the close
of to-day's market. The sterling exchange
market was dull. but inclined to firmness
in response to the hardening of money rates
IN London. where there was a special de-
mand on the market incident to the taking
up of government bills to provide for war
expenses. There was continued demand
from stock exchange sources for time mon
ey and per cent. was bid for six months
loans where industrial stocks figured as
collateral. In connection with the outlook
in the money market, the October foreign
trade statement of the Treasury Bureau of
Statistics attracted great interest. From
this Ii appears that the slight falling off in
the October exports of agricultural prod
ucts compared with last year, due TO a de-
cline OF over 30 per cent. in the amount of
cotton exports. is more than offset by the
Increased exports of manufactures. that
the total exports for the month are over
100000 in excess of those for last year.
The figures are the more significant in con-
sequence of large demands for cotton by
foreign buyers. Taking the ten months of
the year, 1t appears that the decrease Of
Ss7O00.OO0 I'm the value of agricultural ex-
ports is more than offset by the increase
In exports Of manufactures, so that the to-
tai exports for the ten months valued at
over 81 10000 in excess of those for the ten
months In 1sgs. The increase in the value
of imports for the same period of $3.50 600 600
favor nearly 100000 less than last year.
But in The same period our net imports of
gold have been nearly $122,OooOoo less than
last year. AS net result. the unliqudated
trade balance in our favor is So. 531 $50
last year Add to this the recent buying
here for London account of securities. Es-
Inmates Of shipments to London of Amer
lean securities by coming sailings run as
been placed in the New York market by
foreign houses In the last week or so, obvi-
ouSly with the purpose of deferring de-
mands FOR gold on foreign markets. But
the figures cited give grounds for the
claims OF foreign exchange houses that
there must be a heavy import movement of
gold in the course of a short time.
There was moderate activity in the bond
market, and prices were maintained. Total
gales at par value were 81 $1,000 United
States bonds were unchanged.
Advices from Washington were received
fn Wall street after business hours announc-
Ing that the secretary of the treasury would
purchase 25OO0NtO of the United States 4
per cent bonds Of 1897 and the fiyes of 1904
at the prices ruling Tuesday. The final bids
for these issues on Nov. IA We're Il2iS for
the fours. registered 1924 for the coupon
bonds: and Ill each for the fives, coupon
and registered
Following are the days share sales and
the closing bid prices: