The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1901-03-15
MONON AND LAKE ERIE
THEY MADE LARGE ADVANCES ON
Yesterdays TRADING.
Anthracite Coalers Also Were Notably
a Check to Local Trade.
At New York yesterday money on call

At New York yesterday money on call
was steady at 2A per cent.
Prime mercantile paper. 31kG4la per cent.
Sterling exchange was firm, with actual
business in bankers bills at s4.S7ls for de-
mand and AS4A for sixty days; posted
rates, &.S5G4.S5h and $i.SSk: commercial
bills. s4s3Aq4.S3z.
Silver certificates were 61lzq62c: bar sill
yer. 61lsc; Mexican dollars. 49c. Bar silver
closed at 2S4d an ounce in London.
There was more activity and variety in
the last half hour of yesterdays stock
market than during any other period of
the session. A buoyant rise in the Erie
stocks. led by the second preferred and fol-
lowed by the other coalers. caused a cover
ing movement among the shorts all around
the room and a smart rise in prices. The
bears rallied their forces and raided stocks
here and there sufficiently TO check the ad-
vance and unsettle the close. The advance
IN Erie seconds was Az. and the other coal
ers rose between one and two points. The
st. Paul dividend increase seemed to fall
fat on the market. The expectation of the
afternoon action had held the market in
check all through the day. The stock was
run up 2 points during the morning. but
when the increase In the dividend was an
nounced selling TO realize wiped out all but
q small fraction of the rise. 1t looked as
though the heaviness in st. Paul would car
ry down the whole market until the rise in
the Fries stinened the tone. For the rest
the market was rather dull and narrower
than of late. Ii continued TO be character
tied by the movement of specialties to a
large extent. The Southwestern railroad
stocks continued in large demand on the
general ground Of the prosperity OF that
region of the country and the expectation
Of a coming amalgamation of important
railroad properties there. The Wabash Sc
curities came 10 the front in the movement
and were bought on a very large scale.
Several of the subsidiary Vanderbilt lines
were included in this movement. Chicago,
Indianapolis * Louisville and New York.
Chicago * St Louis first preferred moved
up 3 points and other stocks of these COM
panies and Canada Southern between l and
2 points. Lake Erie & Western. after an
early advance OF a point, broke . and closed
unchanged. The Minneapolis & ST. Louis
stocks rose 3 for the common and 21S for
the preferred. st. Louis e San Franciseo
suffered from realizing, losing at one time
III. There was large realizing going on
under cover or the points OF strength. and
many stocks which advanced reacted on
profit taking during the course of the dav.
A-malgamated Copper after early weakness
turned very strong, closing with a net gain
OF rs Continental Tobacco preferred rose
3L. The continued ease Of call money I'm
spite OF the calling or some loans auiesed
apprehension on the score of money rates.
The calling of loans was in preparation for
to-day's large dividend disbursements in
Guiding SzO.O0.eo by the Standard oil Com
pany. The disbursement OF these dividend
funds is ooked forward TO to replenish the
money market or 10 find employment in the
market.
Business In railroad bonds continued very
large. but profit taking in the speculative
issues caused some irregularity In the price
movement. Total sales at par value were
&.065.0OO. United States refunding twos. the
threes and new fo-rs advanced y per cent.
on the last call.
Following are the days share sales and
the closing bid prices:
Closing
Stocks Sales. Bid.
<scn.eon z2-0 y