The Indianapolis journal., 1900-08-15
SHARES MUCH STRONGER
WALL STREET HAD A SPELL OF AC-
TIVE STOCK BUSINESS.
Western Railroads the Chief Center
of strength. which Influenced En-
tire List-Local Trade Situation.

AT New York. yesterday, money on call
was steady at Ia per cent.
Prime mercantile paper, fQ5 per cent
Sterling exchange was soft. with actual
business In bankers bills at $i.s71s for de-
mand and s4SS7s for sixty days; posed
rates. S. srza4 S5lz and S4.SS1zn..ss. COM
mercial bills, $4.sS14Q4-s3ss.
Silver certificates were 611zd62izc; bar
silver 61sc; Mexican dollars, 4S1zc. AT
London silver bars sold at 2S1sd an ounce.
Yesterdays stock market gave a marked
exhibition of strength, rejecting as IL did
an upward movement in all classes of Sc
curities. No doubt the chief impetus to the
rise was manipulative orders, particularly
so in the steel group. Reports of possible
amicable adjustment of the wage schedule
was responsible for rise of points in
American Tin Plate and 1q115 In kindred
properties The buoyancy of this group
radiated throughout the entire market and
influenced pool operations in other stocks.
AS on Monday, the leading railroad shares
occupied commanding position in the
market. exceptionally large blocks of the
Atchisons. grangers and Pacifcs being
taken at improvements ranging from a
large. fraction to Ia in st. Paul. Prac-
tically the only laggards to the upward
& Ohio and Southern Pacific. The first
mentioned was sold heavily on its July
earnings, which fell off 9,126 net. An
effort was made TO raid Southern Pacific
on the announcement of the death of it's
president. c. p. Huntington. but the open
ing offer of a block of $500 shares at 33A.
which was three-quarters of l point un-
der yesterdays close, was readily absorbed.
Indications that the stock was to be sup
ported influenced the bears to transfer the
attack TO Sugar This stock displayed a
good deal of irregularity and ended rs off.
The effective buying of the railroad stocks
became more marked, many of the usually
inactive stocks materially improving.
Despite the exceptionally heavy gold en-
gagements for to-day, aggregating $s.162.
tar tary situation occurred. Abroad, how
ever. a reflection of the gold drain
from this country was noted in "A decline
In money and discounts I'm London, and
exchange on London at Paris and Berlin
also yielded. Some recovery was made
early In the day in sterling exchange quo
came easier on sales of bills against to-
days shipments. The subtreasury state
ment showed net cash gain OF $3,0l4.0O0
on Mondays operations. while its debit
balance at the Clearing House yesterday
increased TO 81 1886. 7l6. Business by the
arbitrage brokers was on a large scale
and for the long side of the account. Ii is
estimated that the purchases on balances
were fully 1900 shares, and embraced pref
ty much all the international issues The
government foreign trade statement for
July. and the seven months of the calendar
year. showed an excess of exports over
imports of merchandise and products of
las and $50, AZ, ,s12. respectively. This
exhibit demonstrates anew the command
ing position of the United States i'm the
matter of trade, and will insure a return
In the autumn months of the present effiux
of gold. Statements of the tonnage in east
bound shipments of provisions and cereals
by the leading trunk lines indicate heavy
gain over the previous weeks movement
10 the Seaboard In the closing dealings
OF the stock market there were indications
that the short lines We're being reduced
and prices ended at about the highest
An increase was noted in bond transac-
tions yesterday. but the inquiry was gener-
ally for the Semi-speculatiye issues The
general tone VIC quite firm. Total sales at
par value were $735.000. United States re-
funding twos when issued, and old fours
advanced y and the threes "a in the bid
price.
Following are to-day's share sales and
the closing bid quotations: