The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1900-10-18
HEAVY TONE in SHARES
GENERAL wALL-STREET TENDENCY
WAS TOWARD DECLINES.
Exceptions Were I'm the Hard Coal
Roads and I'm Peoples Gas-Locnl
Trade ON q satisfactory Basis.

At New York yesterday money on call was
arm st sa31z per cent: last loan, 3h per cent.
Prime mercantile paper. 5q6 per cent.
Sterling exchange was strong, with actual
business In bankers bills at sls4% for demand
and at $4.s1 for sixty days; posted rates, SASHA
and s4-s59LSh; commercial bills. s4sOq4So1a-
Silver certificates were s2zQshc; bar silver.
Sc: Mexican dollars. 4skc. At London bar
silver sold at % 3-1sd an ounce
Some continued effort was made in profess
sional quarters to advance the prices Of stocks
yesterday. but the bull forces were considerably
depleted. and 1t was evident that the manipu.a-
ton for the advance in some q11-tsrs was taken
advantage OF to realize in others Tusday's mar
ket fairly demonstrated tina. the outstanding
short interest had been reduced to such proper
lions as TO make its demanl Ineffective in con-
tlnuing the advance in prices. Yesterday II
looked very much as though some Of the impor-
tant bull interests had taken early cCgnizance
of this fact and had promptly taken their profits.
Some OF the recent influential bull operators had
fairly reversed their position and were openly
large sellers OF stocks. There was a sufficient
show Of strength in Tuesdays market to at
tract a considerable accumulation OF buying or
ders from outside sources yesterday morning.
In spite OF opening recessions this buying en-
couraged the bulls to resums operations for the
advance. The sharp twist to the short interest
In Peoples Gas was an influential factor In
their faNOT- Inc OennlIe ACKNOWLEDGEMENTS tndt me
Peoples and the Ogden companies had adjusted
their differences and had passed under one con-
: troll caused excited trading in Peoples Gas.
Orders were simultaneously executed at quota
tions running from s3% down to 90 and the sale
Of $500 shares at the opening. The price was
later run up an extreme pa Owing to the
amount Of long stock which came out at that
level the price fell back and the stock closed
with a net gain OF only Ia. The reaction IN
Peoples Gas and the satisfaction Of the outside
demand for stocks made the latter manipula-
ton for the advance Intellectual. Southern Rail-
way preferred and Louisville x Nashville were
pushed up lis and rs. and there was eager buy
Ing OF the Reading stocks on the company's
crn had a striking advance of 3 points and Con-
scifdated Gas rose a. There were some sub
stocks, and among them a few net gains were
saved on the day. But the closing showed a re-
with many stocks at the lowest OF the day and
net losses the rule. A large part OF the incoming
different sources in the open market and the re-
serves Of the great banks abroad have not been
money markets as TO what will happen II New
York makes such demands for gold Authorities
IN the London money market attribute the cur
rent ease OF money there TO the disbursement II
government credits, and they regard with dis
change against them. The Bank OF England has
attempted without success to stifen discount
view of this nonsuccess. it is a QUESTION whether
the Official discount rate will be advanced to-
OF Germ n Was notably strong. but the hank 1Sn Of
England had 10 surrender gold TO Paris yester-
Continue available for borrowing. but they CON.
tinue mostly from loan and trust companies,
secure them. thus forcing a shifting of loans. "
There was a falling OF In the activity OF the
sales at par value were 81. 100000. United States
refunding rwos and the old tours advanced Il
Following are the days share sales and the
closing bid prices;