The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1900-08-17

At New York. yesterday, money on call
was steady at 1A@1A per cent; last loan.
~ per cent.
Prime mercantile paper. 4d5 per cent
Sterling exchange was steady, With actual
business In bankers bills at s4.S7i1 for de-
mand and s4.s4 for sixty days; posted rates.
s4.S645h and $.Ss1zd4S9: commercial bills,
S4.ssA@4-ssz.
Silver certificates were 6l1hQ6215c: bar sill
yer. SIC: Mexican dollars. 4sssc- Silver bars
1T London sold at rs l-16d an ounce.
Early strength in the stock market yes
terday, inspired by the favorable London
attitude and the better complexion to the
Chinese situation. was dissipated later on
by realizations by the room traders and
discussion OF the monetary future. A rise
In the call money rate to Ia per cent.
caused assertions in some quarters that a
sitter rate would generally result from the
depletion OF the bank reserves by gold ex-
ports. Operations by the banks thus far
this week with the subtreasury show a loss
of s., ZOO. This can hardly be compen-
stated through the interior currency move
ment and receipts of gold from Pacific
coast points. so a heavy loss in cash is
expected to be shown in the bank state
ment. The weekly reports of the European
governmental institutions were scanned
with interest in connection with their re-
Punishment or resources from here. Less
than half the recent shipments OF upward
of 81. 900 was reflected in the statement.
The Bank of Englands return showed an
increase in reserve Of $500 100 and bullion
caused mere liberality to borrowers. and
loans increased S,960.000. The bank gained
on balance yesterday on bullion transac-
lions s., $4,000. Its official rate of discount
was maintained at 4 per cent. but the open
market rate fell to 3%. The showing OF
the Bank OF France was less marked in its
principal items than last week. Gold hold
tngs increased only S5O,000. while loans
were reduced $S.22l,Sz5 and circulation
shrank S.Ooo.0oo. AS the rise in prices of
stocks early yesterday was maintained
with difficulty professional traders who
have been Instrumental in the weeks adj
vance switched over to the short side and
let go their holdings. No increase in out
side business was reached despite the ap-
parent stability to the early movement in
railroad stocks. This factor influenced
market top-heavy. While there was but
little energetic selling In any quarter prices
The price level on the day. however.
showed but few notable changes. Some
wide movements were made in a few of the
Rubber and Consolidated Gas. The latter
covered q range Of over 2 points, early
strength being succeeded by a fall. and a
nnal rally resulting on the announcement
that the stock was to be restored to an
3 per cent; annual basis. Reports of a
severe cut in prices of structural steel by
independent concerns impaired heaviness
to the steel group, which also felt the gem
eral selling of the day. Despite official
email OF the rumored deal by the Balti-
more & Ohio to absorb the New Jersey Cen
trail Railroad the latter stock moved up a
point at the outset, but later lost the gain.
Transactions I'm bonds fell off somewhat
and the market showed irregularity. Total
sales at par value were $3.50. 900. United
States government issues were all Y ner
cent lower in the bid price
Following are the days share sales and
the closing bid quotations: