The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1900-01-18
UNDERGONE WAS STRONG
MARKET INACTIVE, BUT PRICES
WE'RE WELL SUSTAINED.
Many Influences at Work Tending
to . Better Speculative Era-Bad
Weather Hurt Local Trade.

At New York yesterday money on call
was easier at 2q4 per cent; last loan 2h per
cent.
Prime mercantile paper sac per cent
Sterling exchange was strong with act
ual business in bankers bills at s4s71s0
asia for demand, and s4S3%@4S31s for
sixty days: posted rates. sLs4lk and s4ss
Silver certificates were 59Q6Oc; bar silver
was 5sAc; Mexican dollars were 471sc Bar
silver, at London, was q 5-16d per ounce
The New York stock market continued
dull and without much life yesterday. blu:
there was an unmistakable undectone of
strength. and the character of the small
buying demand showed a substantial IN
provement. Dealings in the highly specli-
lative industrials still predominated. but
the proportions of the dealings in them
were not so excessive. There was a nota-
bic movement in the leather stocks early
in the day. but it was not well sustained
Third-avenue showed a violent decline
OF sA points. but recovered 34. Otherwise,
the group manifested strength under the
influence of the outstanding short interest
who were influenced by the general
strength of the market. Reports of :,
military success for the British made the
London market strong, and this was re-
fected in New York. The upward course
of sterling exchange. and exchange on
parity. served somewhat to neutraiize this
influence in spite of the continued fall in
the English discount rate. The decided i'm
provement in the buying OF railroads vas
conspicuous in the grangers. Southern
Pacific and Baltimore & ohio, though the
latter stock met free offerings u realize
The railroad list generally was benefited
sympathetically by this strength The St.
Paul statement for the second week i'm Jam
uary encouraged buying in view of the
increase of $311.555 over last years earl
fngs. which in turn had been greater than
the year before by $l44,355. The supple.
mentary report of the Baltimore & Ohio for
the six months ended Dec 81, 1899. was an
influence of strength, with it's estimate OF
a surplus over interest and rentals for that
period of s3,201.513 Statements on author
ity, on account of the Southern Pacific
by Union Pacific interest helDed the ma rket
for railroads. The increased gran move
ment, a good export demand for wnsat
ana the continued increase in the money
supply were all factors OF strength. So.
also, was the statement OF the country'e
trade for December. The preliminary
statement Of agricultural exports had
SHOWN decrease from last December of
s-o.zlz,56S, and as the total exports for the
month showed a decrease from December
or 1885 of only $l4.565, 4S1. the difference is
attributed 10 increase in the exports of
Inanulaetured products TO the amount of
N.oao.SS Taking the calandar year as a
Wnoie. the decline in the excess of mer-
cnandise exports Is about met by the de-
cline in the excess OF gold imports Ieav
Ing the favorable balance OF trade about
the same as the year before
Inc market for bonds was not very
active, but was very firm. Total sales
at par value. were Sl,225,O 900. United States
Tours advanced u in the bid price
fonowing are the days share sales and
the closing bid prices: