The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1900-02-03

At New York, yesterday. call loans were
easy at Gath per cent; last loan. 21z per
cent.
Prime mercantile paper. 4Q5 per cent
Sterling exchange was steady, with ac-
tual business In bankers bill at $4.Sl134
4s7H for demand. and s4d414.sfz for
sixty days: posted rates. $4.S5 and $3.50
ASH; commercial bills. s4.s31kGlsfA.
Bar silver was Coo; Mexican dollars. 471kc;
silver certificates. 5shqsOlkc. Bar silver. at
London. was steady at 275sd per ounce.
Yesterdays stock speculation furnished
adequate proof that increased interest was
being manifested by the public in the
Wall street market. This supposition
based on the extensive trading in railroad
stocks, which comprised properties travers-
ing a wide area. Professional operators,
perceiving that support from commission
houses could be relied on in an upward
movement in the standard stocks. devoted
their energies in this direction. causing the
specialties to occupy secondary position
In the market. This change of front was
in a measure due also to the fact that
some of the industrials. which had sus-
tanned a substantial rise, showed evidence
Of good realizing. Important movements
appeared to be under way by substantial
interests, as yesterdays strength devel-
oped first in one group of railroad stocks
and then another until the list showed
gains running from to 31s points. In con-
nection with the enormous buying of the
Baltimore & Ohio stocks a statement that
the management had sold S, 100000 4 per
cent. bonds of the road and s2,5OOO0O of
that of subsidiary line to provide for i'm
provements. accounted for the buoyant
rise. AS the tendency of the prices became
pronounced arbritrage houses took advant-
age Of the level to unload, but their offer
ings of 10000 shares presented no effectual
check to the currency. Long standing
short lines In some of the middle grade
railroads were covered and blocks of 1000
70 1900 shares figured plentifuly through
out the list Interest was diffused into q
great variety of stocks and at times some
OF the usually neglected ones Wed with the
recognized leaders in point of animation.
Early operations indicated that powerful in
terests were engaged in metal stocks as
prices OF the securities followed a Jump.
Of eight pointssin Tennessee Coal to 10i.
This stock suffered acutely from realiza-
ton as the day progressed and ended with
O gain of but 81 points. Prices of kindred
properties were better sustained but all
relapsed from the best figures. Fluctua-
tons In Third avenue continued to be of a
sensational nature. an early rise TO 101 be-
-iiS lobOWcu ny Il DFeak TO ~ on uQuldatlOn
by interests disturbed by the measures
projected to finance the company's indebt-
edness. A rally to $685. occurred in SYM
pathy with the pronounced rise of the gen.
eral market In the late dealings. Western
railroad stocks gave the first indication
OF strength. and although interest in these
waned somewhat as the other group be-
came prominent. they nevertheless held
their extreme rise. Among the high-priced
industrials. American Tobacco, Gas and
Sugar achieved a commanding lead occa-
sionally, but ended with narrow net
changes. Predictions to the character
of to-day's bank statement were uniformly
favorable. but the advance statistics show
that the gain in cash from the receipts
from the interior and subtreasury opera
lions were placed at $2.S1 u.s. compared
with a net gain i'm the previous week of
$6,49,175.
"A reflection of the stock markets strength
was observed in the bond operations. whore
the absorption was very heavy, in the low
and middle grade issues The market was
broad and Inactive. transactions aggregat-
Ing par value of s2s3S0.O00.
United States new tours and fives adj
vanccd Il. and the twos declined e in the
bid price.
Following are the days share sales, and