The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1900-08-11
HAD a LITTLE STRENGTH
STOCK PRICES A SHADE HIGHER IN
A NARROW MARKET.
Sugar and C. & ~. w. the Strong
Points of the Dny-LOcaI Trade
In mt About the Minimum.

At New York. yesterday, money on call
was steady at 11sG1lz per cent; last loan,
~ per cent.
Prime mercantile paper, 4Q5 per cent.
Sterling exchange was easier, with actual
business in bankers bills at ~s4.S7A04-S77s
for demand. and st.S4 for sixty days; posted
rates, s4S5Q4S5z and si.S9; commercial
bills. sf.S31Aq4.S3a.
Silver certificates were 611zG621zc; bar
silver. 6OAc; Mexican dollars, 4S15c.
AT London bar silver was Esd an ounce.
Thursdays dead level of stagnation in
stocks was slightly relieved by one or two
features in yesterdays market. The
strength In specialties had a sympathetic
effect in the narrow general market and
earlier weakness was overcome, but the
advance generally stopped short at about
Thursday nights level. The exception was
Sugar, which ruled above Thursday nights
level all day or operations by recent bull
managers in the stock. There was no news
10 explain the movement, but the stock
became fairly active i'm the latter part of
the day and rose 2s over Thursday night,
at which price 1t closed. Brooklyn Tran
sit was inclined to advance on renewed
WAITS u CA@A9O ~ NNO OAAO ~ NhO
active management. There was continued
buying OF Chicago & Northwestern, after
a slight preliminary reaction. the stock
rising 1ss over Thursday night. while the
preferred gained 2z over the last sale on a
single transaction. The buying order in
the stock is said TO be for investment &C
count. based on the financial strength ex-
hibited by the company in its annual state
ment. Efforts were made to check the
downward movement in National Lead pre-
ferred by authorized denials of Thursdays
rumors that a bond issue is imminent, but
the stock slumped badly in the last hour,
falling an extreme AZ points, while the
common stock dropped 1 from the best.
ST. Paul was sold down a sharp fraction in
the morning on large decrease In gross
earnings reported for the first week in
August. h stock recovered and was un-
changed at the close. Engagements of
gold for export to-day, which amount
ed TO S,250,000 seemed to be without
effect on the sentiment, perhaps because
the amount Will not figure in to-day'S bank
statement. TIL exports we're due TO the
advance in the Bank of England's price for
gold bars and American eagles, which
made shipments feasible in spite of a frac-
tional decline in sterling exchange. None
or the engagements was due to syndicate
operations for payment of the British bond
subscriptions. The outward demand of
gold for the week is thus brought TO over
$50 900, only $500. 900 of which will figure
in the bank statement. Including the pay
mems by the banks for this amount of the
gold exported, and allowing for payments
by the subtreasury of drafts for gold de-
posted at Pacific coast points, the banks
have lost to that institution s.. 160, 900. AL
though the shipments by express to the in
terror are larger than last week, the banks
have still gained largely on that account,
30 that their net losses in cash are esti-
mated to be less than a million. II the re-
cent movement toward loan expansion on
sterling collateral has been proceeding this
week there will be an increase in reserve
requirements which may add to the en-
~Sroachment on the surplus.
There was nothing Of Importance in the
bond market. Total sales, at par value.
were &35.0O0. United States refunding twos,
when issued. the threes and old and new
fours declined "A, and the fives Il in the bid
price.
Following are the days share sales and
the closing bid quotations: