The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1900-09-18
SMALL RISE in PRICES
STOCKS TOOK A SMALL AND TRAM
sIENS~IPTURN On BUYING.
Close Was Easy at About Saturday
Nights LeveI-The Week started
Well i'm Local Trade.
At New York. yesterday. money on call

At New York. yesterday, money on call
was steady at liz per cent
Prime mercantile paper. 1854 per cent.
Sterling exchange was firm. Will actual
business in bankers bills at A.S6AqLS6s
for demand and $4-sSh for sixty days; post
ed rates were S4.S4Q4S4h and A.s71zq4.SS;
commercial bills at s4.S2AQ4.S2%.
Silver certificates were 62AQ63%c; bar
silver, csc; Mexican dollars. 49Ac. Bar
silver was 2Szd on the London market.
The expected break in prices in New
York stocks failed to take place yester-
day. There were considerable selling or
ders at the opening, as never fails to
happen after such a break in prices as
that OF Saturday. But the friends of the
various stocks had placed supporting or
ders in the market, and their buying was
sufficient to absorb the offerings. The pro-
fessional traders, who had sold short on
Saturday, were not slow to detect the
evidences OF support, and they FASTENED
to cover and take their profits. Buying
from this source was a material factor in
the recovery Seeing the tendency of
things, the bull leaders, who had to re-
treat last week. attempted to retrieve their
lost ground by bidding up prices. The
pressure to sell at the advance stopped
tbs movement, however, and the market
fell back into its recent condition Of leth-
argy and ownwa drifting. Prices in
practically all important stocks were very
near to Saturdays level at thu close, which
was duh and easy. Among the professional
traders, who still control a large proper
ton OF the operations. an important in
fuence was exerted by the bullish opinions
expressed by James r. Keene, in an in
terview. in London. Mr.. Keene's views
were the more influential, inasmuch as Sat-
urday's gossip onnthe Stock Exchange had
attributed a selling order of 5000 shares
OF various stocks to his account. The
smaller leaders. who followed this lead,
had nothing TO do but cover their short
contracts this morning. The relative firm
ness of the coal-carrying railroad stocks.
even before the general upturn, and the
positive strength developed later. served
TO ietract somewhat from the effect of the
shutting down OF the coal mines. Tn
easiness was less acute over the money
market, and more account was taken OF
the fact that last weeks outward move
ment Of currency was abnormal, by rea-
son of the large relief funds transferred
TO Texas. Greater confidence was felt
in the ability OF the money market 10 meet
the requirements Of the German loan sub
scriptions, and more attention is paid to
the larger view OF the operation as an
llQlCdllOn VI II 6fOWlaS pOWGI ana lm-
portance of the country's financial posi-
ticn. The export movement of merchan-
disc continues heavy. thus constantly max
ing exchange TO meet the obligations in
CURED To- meet the subscriptions or the
loan. Large flowing loans are coming due.
in the Berlin market, TO American lenders.
and will be available by a bookkeeping
operation TO pay installments on the loan.
The fear Is expressed in London that the
American Subscribers may pay the Ger
man government by orders for gold on
London the supply of sterling exchange
In New York being large enough. IL is
believed, TO allow such an operation. This
Possibility was a depressing factor in Lon
don stock market, as Berlin would not be
expected 10 be so lenient a creditor as
America has been, owing TO the high money
rate in Berlin From any standpoint,
America being the creditor in the opera
ton. wopld exercise large control OF the
situation.
The bend market continued irregular.
Total sales. at par value, were $500
United States ~refunding twos, when issued.
the old tours and fves advanced a. and
new fours Y per cent. I'm the bid price.
Following are the days share sales and
the closing bid quotations.: