The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1900-01-25
REFLECTED FROM LONDON
An ELEMENT OF STRENGTH IN EAR
LIZ wALL-STREET TRADING.
Early Advances About the Only
Shows Considerable Animation.

At New York yesterday money on call
was steady at 219gS19 per cent; last
loans. per cent.
Prime mercantile paper, 41zQ5k per cent.
Sterling exchange was firm, with actual
business in bankers bills at s4.S7 for de-
mand and $4.& for sixty days: posted rates.
$4s41sGf4s5 and s4.S11ka4-SS; commercial
bills, $IS3Q4S5l2.
Silver certificates were 59hd601kc, bar
silver was 5s%4c and Mexican dollars were
47Ikc. At London bar silver was weak at
"a 7-16d per ounce.
Prices on the New York exchange seemed
entirely subservient to the movement of
prices on the London exchange. The first
sales of the international stocks showed
sharp gains in response to the rise
achieved earlier on the London exchange.
These opening gains conform closely to
the net gains for the day. 1t seemed impos
after the opening and the almost stag
nant market drifted along at about the
opening level for the rest of the. day.
The gain was closely proportional to the
previous days losses. and probably meas
ure the ratification of the short contracts
put out Tuesday on the exaggerated ru-
The whole movement cannot be said TO
be more than sentimental, as the actual
news of the day failed to throw any light
on the Boer war situation. In the list of
industrfals and specialties. where the prop
critics concerned would feel no effect either
from success or defeat in South Africa,
the movement OF prices followed closely
that OF the railroads. Dealings In this de-
those in the railroad department. but were
strictly professional The only reason dis
cernible for the advance in prices was
that there were declines Tuesday A con-
siderable demand developed later in the
day for American Steel and Wire, which
carried ii up an extreme 20 and lifted
other iron and steel stocks in sympathy.
The stocks OF properties operating New
York public utilities also made a continued
show of Strength. News bearing on the
industrial outlook was all favorable. st.
Pauls third weekly statement. leading the
returns for the period. showed in
crease OF over $4,000 over last years I'M
precedented level OF earnings. There were
good third week statements also from Wa
, bash. Denver & Rio Grande and Rio
Grande Western. Less assurance was felt
with regard TO the financial outlook Mon
ey rates hardened a fraction in London
and Berlin, and there was sharp frac-
tional rise in sterling exchange. Quotable
rates Tor money were not changed in New
York. as funds continue TO accumulate in
the banks. But the rate of accumulation
shows a considerable falling off from that
OF last week. n further reduction In the
Bank OF England rate OF discoun has
been anticipated. but whether yesterdays
hardening money VIII result in disapoint-
Ing this expectation remains to be seen
The absorption OF railroad bonds contin-
ues on moderate scale, but to a lessened
extent, owing TO the smaller inflow of
money. There were some weak points in
the list. making the market irregular To-
tai sales at par value were Sl24O. 600
United States new fours. threes coupon.
fves and old fours. coupon declined Il, and
do registered u in the bid price
Following are the days share sales and
the closing bid prices: