The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1897-12-14
MORE LIFE TO STOCKS
EVIDENCE OF sHREWD MANIPULA-
TION IN SEVERAL SHARES.
Call Loan Rates SITTER and Bond Mar
ket Active and stronghold
Trade satisfactory.

SAI view IOIh ytSltTUdy IuOncy vi CSliA
was firmer at 11hdS per cent; last loan, 2
per cent; closed, 2a21s per cent.
Prime mercantile paper, 3Q412 per cent.
Sterling exchange was steady, with ac-
tual business in bankers bills at s4S5A@
4.S52s for demand and at $4.S214Q4.S2A for
sixty days; posted rates, $4SSk@4s4 and
and $4.S614G4S7; commercial bills. &8114Q
ASS.
Silver certificates, 5SA@59Ac; bar silver,
58Ac; Mexican dollars, 46Ac.
Total sales of stocks were $40, 500 shares,
including Atchison preferred 1883; c., B.
& O.. 3O597; Manhattan, 1880; Missouri
Pacific. S,515; New Jersey Central. s,OS5;
New York Central, 1926; Northern Pacific,
S915; Northern Pacific preferred. 1880;
Rock Island. 1850; st. Louis & San Fran
cisco firsts preferred, $3.50; st. Louis & San
Francisco seconds preferred, 6S91; st. Paul,
1880; Southern Railroad preferred. 7643;
Union Pacific, $780, American Tobacco,
5,31S; Chicago Great Western, 10,SS9; Peo-
pies Gas, 1,705; Consolidated Gas, $3.50;
Sugar, 1866; United States Rubber 1856.
The days market for securities offered
every appearance of breadth and strength,
the buying being vigorous and aggressive
and we'll distributed. The fact was not to
be ignored, however, that the stocks of
Southern and Southwestern roads, which
were favortes with the bulls last week, did
not share in the advance proportionately,
the price being kept down by liberal offer
ings. A decrease in earnings for the first
week in December reported for Louisville
and a somewhat unfavorable showing for
the same period by Chesapeake & Ohio may
have accounted for this, but there was a
suggestion of profit taking in the movement
of these stocks in face of the general
strength manifest elsewhere in the market.
The jump in Sugar to 145A in the course of
the first hour stimulated the whole mar
ket. The dissemination of rumor that an
extra dividend was again under cOnsidera-
ton was the instrument employed to eff
feet this RISE and the motive of 1t appeared
in the heavy offerings at the higher level.
The stock was supported, however, at
certain stage of any decline all day and
The government crop report with its re-
vised estimate of wheat crop of $50 0O0, 900
bushels caused a lively outbreak of spec
ulation in the grangerS, the high ruling
price for wheat with this heavy yield to
draw 6rayr on being regarded as insuring
railroads. Still another element it of Of
strength in the days market
was the jump in price of Metropolitan
street railway. This stock rose nearly 5
points, to 125 in strong contrast to the per-
sistent heaviness in Manhattan, which
dropped at one time nearly points on ac-
count OF the published reports that svndi-
Gates had already been formed to finance
the proposed underground rapid transit PLAN
Manhattan fully recovered before the close
and shows small fractional net gain.
Union Pacific showed a sharp recovery from
Its recent depression on the strength of in
Spired reports that the reorganization could
be carried through with a moderate in
crease of the proposed bonded Indebtedness
preferred stock, and the subsidized norton
of the Kansas Pacific not deemed es-
Sential to the success of the plan. There
was some heaviness in local gas securities
owing to current rumors of difficulties in
the way of the proposed amalgamation of
local companies. The days buying was i'm
large part professional, and commission
house business was on small scale. Lon
don was, however. liberal buyer of stocks
in this market. Quite a marked feature of
the day was the large number of small lots
of dividend-pdying stocks which were
bought. This class of buying appeared in
the gilt-edged investment stocks, which
rarely move, but was also manifest all
through the list of dividend stocks A
feature of the day was the stiffening of
eased off again before the close. The rise in
the rate was attributed 80 a sudden and
rather urgent demand. while offerings were
rather light for the time being. Other de-
partments of the money market We're I'M
affected. Net results of the days trading
are very uneven. net gains exceeding a
point in the grangers the coalers and b. &
o., but showing small fractions, for the
most part. in the general list.
The bond market continued active and
strong, the Atchson and Northern Pacific
issues being prominent. Net advances of
from TO points were shown in a number
of bonds. Total sales $,S5000O. United
States old tours, registered were advanced
bid while the new tours declined Il, bid.
The following table. prepared by l.. w
Louis. Room IL. Board of Trade shows the
range of quotations.