The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1897-12-04
GAMBLERS IN CONTROL
OUTSIDE INVESTORS PAID LITTLE
ATTA.,TION TO STOCKS.
Large Operators Quietly Picking Up
Shares at Low QuotatiOns-LOcaI
Markets satisfactory.

At New York, yesterday, money on call
was easy at 112u 2 per cent; last loan, per
cent; closed at per cent.
Prime mercantile paper, S15 per cent
Sterling exchange was easy, with bust
ness in bankers bills at $f.S5% for demand
and at $4.S304S31s for sixty days; posted
rates, $4.S4 and $4.s7; commercial bills, $4.S4
Silver certificates, 591ku6O13c; bar silver,
$3.50; Mexican dollars, 1850. At London
bar silver closed firm at q 9-l6d am ounce.
Total sales of stocks were 313,0C0 shares,
including: Atchison preferred, $780, Chi
cago, Burlington & Quincy, 1928; Louisville
q Nashville, 5000; Manhattan l., 2S,5O0
Metropolitan Street-railroad, $3.50; Missouri
Pacific, 1915; Northern Pacific, $3.50;
Northern Pacific preferred, 27,620; Rock
Island, 1881; st. Paul, 2O,6O2; Union Pacific
trust receipts, 12045; American Tobacco,
3,240; Peoples Gas, 1890; Sugar, $3.50; Chi
cago Great Western, 1926.
Outside buyers had Withdrawn from the
market yesterday and the field was appar-
emily left to lie faliow by the large opera
tors who have been prominent in the man
ipulative movements on change this week
The heavy throwing over of stocks by large
operators Thursday to realize and by others
later to save losses was what discouraged
dence from time to time, but their offer
ings seemed to be we'll absorbed without
etecting any marked declines. There was
no evidence of any effort to mark up prices
The action of the market suggests that
large operators may be attempting to pick
up a line of stocks at the decline before
pushing prices again with the purpose to
realize while the public is still buying, as
was done on Monday and again yesterday
Sugar was exceedingly active ali day ana
acted in very feverlsh manner. rms was
partly due to reanzIng on stock bought in
anticipation of the treaSuryS decision 10
apply the countervailng duty to sugar I'M
ported from the Netherlands, ana party
TO confusion of mind as to how far the
differentiaI on refined sugar would lnure 10
the benent of the sugar company. A large
portion OF the speculation was taken up
with this stock and the offerings and the
weakness increased as the day progressed
Union Pacific manifested some weakness
at times on account OF the hrmly expressed
intention of the government to quarry as
bidoer at the Kansas Pac1hc sales so as 10
protect it's interests II necessary by blddlng
in the property. DeniaIS were also OIIered
on behalf of the reorganization committee
that any agreement mad been arrived at
with the government for acquiring the SUD-
Sidized portion of the line in Kansas. There
was good support apparent for the stock
Notwithstanding this published news, ana
the Kansas Pacific consol skies, trust re-
ceiptS, were also steadily held. The wide
and the regular movement OF some Special
stocks kept the general list very much UNI
settled during the day, and 1T was difficult
TO discern any marked general tendency in
the trading. London was again a seller OF
stocks in the New York market to some
extent. There was little general news bear
ing on the situation, and the movement OF
prices was due almost entirely to technical
causes. The fourth weeks statement OF st
Paul and other roads and the estimated
gross earnings of Rock Island for Noyem-
Der were regarded as favorable. but had lit
tie enect on the market: The late squirt
in Manhattan to 1O5, net rise of points,
stifrened prices and brought many of them
above Thursdays closing level. Otherwise
losses would have predominated. The rise
in Manhattan was due to false rumor
that the underground rapid transit plan hau
been declared unconstitutional.
The business in bonds was somewhat cur
tailed, but still large. Prices he'd firm. To-
tai sales 81, $50, 600. There was an advance
in the bid price of United States twos OF
10 and of the new tours of Is.
The following table, prepared by L. "
Louis, Room II, Board of Trade, shows the
range of Quotations: