The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1897-12-08
LIVELY STOCK MARKET
SALES INCREASING AND DEMAND
BRINGS BETTER PRICES.
Operations Largely Due to Manipula-
ton by the Inside CIique-LOcaI
Business Active.

At New York. yesterday, money on call
was easy at 11k02 per cent; last loan, 2;
closed 1a4g2 per cent.
Prime mercantile paper, 9G4 per cent
Sterling exchange was weak with actual
business in bankers bills at AS5% for de-
mand and at $4S25s@4.S3 for sixty days;
posted rates, s4.s31zQ4.A and $4.S61zg4.S7;
commercial bills, $4.S2.
Silver certificates, 59a466O1ac; bar silver,
6oske; Mexican dollars, 47sc. At London
bar silver closed steady at 57s4d ounce.
Total sales for the day. 414sOO shares. in
GLIDING: Atchison preferred, 1850; Chicago
Burlington & Quincy, 1870; Louisville
Nashville, 1876; Manhattan, 10160; Metro
politan Traction, 1915; Missouri Pacific, 49,
025; Kansas e. Texas preferred, 4,475; New
Jersey Central, 1895; Northern Pacific. TO-
043; Rock Island, 1926; Reading, 4,49O; ST.
Paul, $780, Union Pacific, 6O72; American
Spirits. II, 200; Bay State Gas, rs, 1850; Chica-
go Gas, 1880; Sugar $500; Western Union,
$751;
Yesterdays New York stock market dis
played noteworthy strength throughout the
day and the demand for stocks was broader
and more widely diffused through the list
than has been the case in long time
There was hesitancy at the opening, prob
ably induced by the lower prices from Lon
oped most aggressive strength later showed
small losses at the opening. This was not
ably true in the cases of Louisville and At
Gibson preferred. The early strength in the
market was in fact most notable in the
specialities. There was scramble of COM
peting orders in Sugar which carried that
volatile security up Sss per cent. in the first
fifteen minutes of trading. 1t dropped
points almost as quickly on offerings to
realize. The largest gains in the first hour
were all III the speciaiities. Southern pre-
ferred was one of the railroad stocks to
attract marked attention and the price was
advanced point. New Jersey Central also
showed a tendency to recover from its re-
cent weakness, though it's tone was rather
feverish. This and the irregular1ty OF SUI
gar checked the advance and activity OF the
market at times and there were several
periods of dulness on slight reactions dur
Ing the day. 1t was not till the afternoon
that the strength of the railroad list be-
came aggressive and general and Southern
being most conspicuous and holding their
gains most firmly. Burlington advanced at
one time a point, but reacted before the
close and the grangers and Western stocks
did not compare favorably in strength with
those in the Southern region, which began
showing Of gains in gross earnings
+. for the fourth week in Novem-
ing the week by the roads in that
region. Even Northern Pacific did not re-
spond as readily, though its preferred stock
nent that shows an increase in earnings
over the corresponding week last year of
$3S4,770, which is only a shade less than
100 per cent. The comparison, however, is
with week of not very large earnings last
year. The statement for November of New
York Central was regarded as disappoint-
ing, the increase being only $7S,000 as COM
pared with a month of not very heavy
earnings last year. Great Northern for
November showed an increase of 1886 1873
and Illinois Central $664,S61. The market
was helped also by the dividend declarations
announced for the day and those in pros
pect. Tie street was full of rumorS regard
Ing the dividend on Sugar, but no authori-
tative announcement accompanied any of
them. The action of the market reflected
very distinctly the large and aggressive
operations of manipulative combinations
and there was very little outside interest
manifested in the stock division of the mar
ket London, besides marking down prices
before the opening here, sold stocks very
persistently in this market, notably st.
Paul.
The bond market continued to reflect q
very wide and varied inquiry and contin-
ually broadening demand. Some sharp gains
were recorded during the day and prices
in all cases were higher. Total sales, $4-
100000. United States fours registered adj
vanced * and the coupon Il bid.
The following table, prepared by L. W.
Louis, Room H. Board of Trade, shows the
range of quotations: