The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1900-06-15
INCREASING
SMALL TRADE, WITH NO DIsTINC-
TIVE FEATURES, ON CHANGE.
Money Market Conditions Are Favor
able 20 New ~York-LocaI Busi-
ness shows Little Falling on.

At New York. yesterday. money on call
was easy at 11zQ2 per cent; last loan, ia
Per cent.
Prime mercantile paper, siz6fA per cent.
Sterling exchange was steady, with actu-
al business in bankers bills at s4.s77s@
<.s71z for demand. and s4.s47sd4s5 for sixty
days: posted rates. s~4S514dI.S6h; CONNER
ciaI bills. sts4d4s4h-
Silver certificates were 6O@elc; bar silver.
6Dl4c: Mexican dollars. 471zc. At London.
silver bars were 27ssd an ounce.
1t would be difficult to find a salient point
fl yesterdays stock market on which to
hang an intelligent opinion of the condi-
tons and the prospect. The trading was a
step nearer to the point of absolute stag
nation, and the movement of prices
throughout showed the doubt and hesita-
ton Just as IL has been for some time past.
Prices are lower on the day. but the losses
serve as little to carry conviction of any
underlying weakness in the market. as did
Wednesdays gains of any strength. Ger
tainly there was no heavy liquidation
pressing on the market yesterday. Sales
were quite inappreciable, which were made
for any other account than that of small
room traders. who would eagerly close a
contract IL they saw a profit of u or Il in
the change of price. The dizziness became
SO portentous that the bear traders began
TO divine all sorts of damaging possibili-
ties, the best defined of which was an i'm
pending commercial failure. mounting up
into an indefinite number of millions. Dill
rent inquiry on the trail of the rumor led
into bucket shops. where the trail was
lost The foreign stock markets We're In
the same condition as the New York mar
ket. as to dizziness of the speculative inter-
est, but showed some firmness on the re-
duction of the Bank of England discount
rate. Private discount rates in London
went lower, and the hardening of the rate
in Berlin and further easing of sterling
rates. both In Paris and Berlin, seemed
without effect on the London money mar
ket, which is, apparently, ~reconciled to
surrendering some of its supply of gold to
Paris. The Bank Of France showed a fur
Their reduction of its note issue and a fur
Their contraction of its loans for the week,
notwithstanding a further increase in its
gold supplies OF over $500. 600. The demand
for time money In New York for the longer
periods, up to seven and eight months, was
distinctly greater, The supply to meet the
demand was. apparently, ample The sub
treasury statement showed a gain, for
Wednesday. OF 50, as, 900, as a result of the
payments for the gold bars which were
exported on yesterdays steamer 20 France.
Apparently, the banks have not made any
remittance TO the government institution,
az get. In response TO the call of the Treas
Try Department for 100000 OF govern
ment deposits. Money is still moving in
large volume from the interior TO New
York. and unless the taking up of the gov
eminent deposits is TO figure in the Satur-
day bank statement the cash changes for
the week are likely to be small.
There were only slight changes In the
prices of bonds on a very small volume of
business. Total sales. at par value, were
$S20.000. United States bonds were un-
hanged In bid quotations.
Following are the days share sales and
the closing bid prices: