The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1897-12-10
SUCCESSFUL BULL RAID
VANDERBILT STOCKS ELEVATED
AND MARKET GENERALLY FIRM.
Bonds Active and I'm Demand, Gov
eminent Issues Scoring Advances
Local Trade Strong.

At New York yesterday money on call
was easy at 11k@2 per cent; last loan at
3; closed. 11zQ2 per cent.
Prime mercantile paper 3G4 per cent.
Sterling exchange was steady, with ac-
tual business in bankers bills at $4.S5A for
demand and $4.S21k94.S27l for sixty days;
posted rates, $4S3k@484 and $4.S615Q4.S7;
commercial bills, $4S2.
Silver certificates. 57sz assoc; bar silver,
5Sc nominal; Mexican dollars, 451sc. At Lon
don bar silver closed weak at 26zd an
ounce.
Total sales of stocks. 9S1 900 shares, in
Guiding: Atchison preferred. 1855; Canada
Southern, 1880; c. & o., S,505; c., B. & o.
17165; Louisville & Nashville 1890; Man
haitian. 1880; Missouri Pacific, 1850; New
Jersey Central, 4145; New York Central, T.
$50; Northern Pacific, ALSO; Northern Pa
cifc preferred, 1887; Rock Island 12,OS0
st. Paul. 1920; Southern Railway pre-
ferred, 7S47; Union Pacific. 1851; Wabash
preferred, 4,S75; American Tobacco, 1850;
Peoples Gas S,O25; Sugar, SO,5OO; Leather
preferred, ABS; Western Union. 5,S19.
The bull contingent met with some for
midable obstacles in it's efforts to advance
prices of stocks yesterday and the great
er part of the success was achieved with
the industrial specialities. The manipulation
in the case of these stocks was very open
and palpable. but some substantial gains
were shown by railroad stocks on the firm
basis of increased earnings. There were a
number of stocks also which were persist
emily heavy in tone and required vigorous
support to prevent the spread of weakness
through the whole market. This was not
ably true of Sugar. Union Pacific fell IL on
the resolution of the Senate to postpone
the Kansas Pacific sale. The inertnesS of
the granger group was persistent drag
on the market. The latter part of the day
saw very animated contest between pro-
fessional traders for the control of the mar
KeI The bulls raised the Vanderbilt group
OF stocks from ! to points. Finally North
ern Pacific preferred was taken in hand
and lifted out of its early depression by a
renewal of reports of an approaching divi-
dend declaration on the preferred stock
These last named changes were facilitated
by the return from abroad of an influential
financial factor interested in those proper
ties. Quite number of small losses are
shown. In the specialities, the other
hand, including Manhattan, Tobacco,
Leather preferred Rubber preferred
Brooklyn Transit. Metropolitan Traction
and a number of the Vanderbilts, gains ex-
tend from point to 29s, the latter in Man
The bond market continued active and
broad, some notable gains being shown in
special cases and the level of prices
throughout the list showing a material adj
vance. st. Louis & San Francisco trust fiveS
are 8 per cent. higher. Mobile q Ohio tours
rose 29s per cent. in accord with the rise of
AZ IN the stock of that company. Missouri
Pacific bonds were all strong, the collateral
fves rising per cent. further, the consol
skies and the trust fives Ia. The total
sales reached par value of $SSOO,OOO: Gov
eminent bonds were strong all around, both
the old and the new tours advancing Il
bid and the fves Il bid
The following table, prepared by L. w.
Louis. Room IL, Board of Trade, shows the
range of quotations: