The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1900-08-09
STATE OF SOMN0LENCE
1T STILL BROODs OVER THE GOTH
AM STOCK MARKET.
Large Allotment of British Bonds to
ment - The Money Markets.

At New York, yesterday, money on call
was steady at Ia per cent
Prime mercantile paper, 4@5 per cent.
Sterling exchange was steady, with ac-
tuaI business in BANKERS bills at s4.SS1s for
demand and s4.S4A for sixty days; posted
rates. $4S5@4s5h and $3.50; commercial
bills. si.SSl4.S3z.
Silver certificates were 61lzQ621zc; bar
silver eo7sc; Mexican dollars, 4s1zc.
At London, silver bars sold at sd an
ounce
The stock market, yesterday, was duller
than on Tuesday, and the movement of
prices was trivial and insignificant without
an important exception. The room traders
sold stocks in the morning, impelled, APP
parently by the reports of the heavy vol
ume of gold to be exported. Estimates
were put out that the amount of shipments
yesterday and to-day would amount UP to
over 100000. When it was seen that the
total would not exceed $5,SOO.OOO the room
shorts covered. The market closed practi-
cally lifeless near to Tuesday nights level.
Tuesdays advancing tendency in United
States Rubber was contested. and that
stock was quite active and feverish, rang
ing over la. and closing at net gain of
~.
ing in Sugar and Brooklyn Transit, the lat
ter suffering from the delay in the publica-
ton of the annual report. which had been
promised at various times. The large
american subscriptions to the British
exchequer bonds Cs55. .0OO continued to
absorb a large amount of discussion and
surmise In Wall street. AS an evidence of
the large resources OF capital available to
1Ixro
cepted as subject for national congratula-
ton, but as an evidence of the acute pres
sure to which the London money market
As being subjected and the possible results
on the world at large OF this condition, ii
was not regarded as reassuring. 1t Is evil
dent from the public criticism In In England
the United States and the apologize tone
OF the explanation to Parliament by the
chancellor of the exchequer, that the policy
embarrassed. The allotment to the
United States Of half the loan
before subscriptions We're received
in England. and the quick closing of the
loan Is in strong contrast TO the effort made
TO discriminate in favor OF small subscrib-
ers In the case of last Apriis khaki loan.
The result of that policy has been that the
spectators have required TO the money
market to meet the periodical installments
on the loan and to carry their holdings:
as a result. There Is presumptive evidence
also OF some special provision entered into
with the leading Anglo-Amerfcan houses
in London" to which was allotted half of
the issue TO insure shipments of gold in
payment The relief thus afforded TO the
London market will thus be more direct.
but in the last analysis the stringency of
money in London insured an ultimate
movement of gold. The real cause looming
big behind the movement OF gold is the
expenditure and preparations for war.
shown by the efforts TO replenish the ma
tional treasury chests. To-day's shipments
of gold TO Paris show that that center is
still in competition with London for the
precious metal and the piling up of re-
serves by the Bank of France Is now COM
monty accepted as preparation for a
pending Russian loan. said TO amount 10
500, 000. 000 The news OF the renewed at
tack on the legations In Picking, the
progress OF hostilities involved in the
march on Picking. and the language of the
Queens address in proroguing Parliament,
all give force TO these considerations and
contributed TO the profound dullness of
speculation in securities, not only in New
York. but in all the great financial mar
kets.
Bonds were neglected and irregular. Total
sales. at par value. We're $S15,O00 United
States new tours declined y and the threes
and old fOurs "a in the bid price.
Following are the days share sales and
the closing bid quotations: