The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1900-08-16
FAIR ACTIVITY SHOWN
STOCKS MADE SMALL GAINS IN A
MORE LIVELY MARKET.
Shipments of Gold About at an End
Movements in Foreign Exchange
Condition OF Local Trade.

At New York yesterday money on call
was steady at 1AQ1h per cent; last loan,
1z per cent.
Prime mercantile paper, 4 per cent.
Sterling exchange was steady. with ac-
tual business in bankers bills at $4S71kQ
asia for demand and s.S4d4s4A for sixty
days; posted rates. A.S5Q45h and s4.SSzQ
$50; commercial bills. AS3AQ4SS1z.
Bar silver was Gle. Mexican dollars, 4Skc;
silver certificates. 611k@621kc. Silver bars
sold at Is 1-16d in the London market.
Yesterdays stock market was, in many
respects. a counterpart of the early trad
ing of the week. There was. however. more
uniformity to the advancing tendency, ex-
c~eptions being limited to only a few stocks.
A distinctive broadening to the dealings
aroused optimism in some quarters as to
early participation in the market by the
public. Some of the commission houses
reported increased orders, and stress was
LAID on the prominence OF the dividend
paying railroads in the rise. AS an offset
the bears dwelt on the depletion of New
York city a reserves, consequent on the
gold exports and the usual contraction in
general business in presidential election
season. While the bank statement on Sat
urday will have to reflect upwards of s1,-
100000 gold shipped, IL is expected that the
loss in the surplus reserves of the banks
will be largely offset by the receipts of
goic from Pacific coast points, interior cur
rency movement and gains from the sub
treasury. The latter institution will have
TO disburse to the banks, later in the week,
some SzO.Wo.OO0 through the redemption of
the old government twos- Money rates here
yesterday continued easy, but an easier
tendency was noted in discounts on Lon
don, which caused long sterling bills to
harden here, and the posted figures were
marked up a half cent. 1t is stated that
further gold shipments at a profit are inn
possible at current rates for demand bills.
sisIlz. the Bank Of England having with
Drawn Its interest allowance for gold i'm
transit The stock market in detail showed
conspicuous strength in many quar-
tiers. with the tendency for special
New Jersey Central jumped over 5 points
on reports or a change of ownership of
the property and favorable developments
In the anthracite coal trade. Other coal
STOCKS sympathized, but the late reaction
reduced their gains TO fractions, outside
OF claws & Hudson, which closed on
higher. In Atchison. positive assertions
for and against the payment OF a dividend
on the common stock were heard which
lent interest TO the movement in the
shares. Brooklyn Transit spurted up 2
points on the reputed favorable character
OF Its pending annual statement. but the
announcement late in the day that the re-
port would not be published for several
weeks wiped out pretty much all that rise.
Operations in the steel group were within
rather narrow limits and they closed
somewhat of on bear pressure. due to an
other decline in warrants. Railroad stocks.
In the granger group, received good sup
port, but they suffered in common with
the general list OF the selling movement
toward the close. At intervals Individual
groups were singled out for an advance.
and as the room traders generally followed
what appeared to be good buying, other
stocks received less attention and usually
lost ground. Sugar, Peoples Gas and
Consolidated Gas were conspicuous fea-
lures I'm the market at different times, but
in only the latter was there any material
effect left OF the demand, a net gain Of
81 points being established. Sentiment
abroad was reported TO be more inclined
toward American railroads, and London
took almost 10000 shares OF stocks. Profit
taking was INDUCED in I'm the late dealings
and the market gave way all around, end
ing under pressure.
More business was transacted in rail-
road bonds thaA for some time. and there
was a decided upward tendency for some
issues. particularly Atchison adjustments,
St. Louis Southwestern twos and Wabash
debentures. Total sales at par value were
$4,000. United States new fours and fivcs
advanced u in the bid price.
Following are the days share sales and
the closing bid prices:
1T