The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1900-10-31
MARKET WAS APATHETIC
MOVEMENTS IN PRICES WERE SLUG
GIsH AND IRREGULAR.
Southern Pacific Notably Strong ON
Aggressive Buying-LocaI Trade
Checked by weather Conditions.

At New York yesterday money on cali was
arm at 3nq4 per cent; last loan, 3A per cent.
Prime mercantile paper. sac per cent
Sterling exchange firm. with actual BUSH
ness In bankers bills at $SS5sQ4.A for demand
and s4soAQ4soas for sixty days; posted rates,
A.sG4Ah and A.s4lzQ4.s5; commercial bills.
$479hQ4s0.
silver certificates were s4H@ssc; bar silver.
sc: Mexican dollars. 50i1c- At London silver
bars % 1l-lsd ounce.
There were only one or two movements OF any
interest Importance on the Stock Exchange
yesterday. The market fell into state Of semi
stagnation at times, and moved sluggishly and
irregulariy. with no other motive power than the
operations OF the professionals, who sought to
make days trade There was very marked
lack OF the orders through commission houses,
which were feature last week The apathetc
aspect OF the market not explained by any
news OF the day. It was the outcome. largely,
OF the conservative spirit OF caution. which
not unusual in the closing days OF national
campaign There is some uneasfness lest the
speculation the part of the outside public
has overdiscounted the conditions expected 10
develop after the election is out OF the way. 1t
Is believed that there la. ge speculative hold
ings in the market which look to the demand
for stocks expected TO develop after the election
10 afford a medium for realizing profits. Sub
stantfa1 interests in stocks do not care to see
the pressure OF realizing come too heavily on
the market at that time. They are disposed
therefore. discourage further speculation al
this time. There has been some disposition on
the part OF the commission brokers to call for
an extension of margins The risk incident to
but IL is not improbable that enforcement OF
conservative views on speculation may be an
Interior motive of the commission houses. The
from the rsiiyins Tendency Of Monday. but ' the
buying exhausted itself soon after the opening
and prices drffted TO lower level. The poor
showing OF net earnings for September By North
from Mondays strength on the marketing OF
very large blocks Late in the day South
ern Pacific. after holding firmly all through the
very heavy buying. The stock was bought early
for London account, seemingly satisfaction
the choice for the new executive. An al
when the price reached IS. but all offerings were
confidently absorbed. and the price finally rose
through that figure. but the buying was then
relaxed This late movement had a sympa-
tbetic effect on the whole market, and pulled
some OF the railroad stocks above Monday nigh. S
level There was some strength among the lead
Ing industTials and speciaities. led by Sugar.
The iron and steel stocks were inclined TO adj
vance after some early heaviness. in sympathy
with a loss OF IA in Tin Plate. Tennessee Coal
was notably strong National Lead preferred
lost 5h- The money market was easier a
relaxation in the demand, rather than in any
other additional supply. The heavy collections
by TIE scbtreasury on account of internal reve-
nue. are offset by payments on account OF Alas
celpts OF gold imports from Europe There have
been transfers OF currency to the interior
through the subtreasury since last Friday.
The tendency OF bonds rather easier. bu.
points OF strength developed in the market "a
the day progressed. Total sales at par vaIns
were 81. 10000. United States bonds were un-
changed last call.
Following the days share sales and tbs
closing bid prices: