The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1898-12-28
RECORD DAY ON CHANGE
LARGEST SALES OF THE YEAR IN
NEW YORK STOCK MARKET.
UndertOne Strong and Many Shares
Scored Notable Gains-LOcaI Bus
mess Falling OF.

At New York yesterday money on call was
steady at 2h@2l4 per cent. last loan, 25 per cent
Prime mercantile paper, sGSh per cent.
Sterling exchange was dull and easier, with
actual business in bankers bills at s4.S4AQ4S 4lA
for demand and at s4S1A@4S2 for sixty days;
posted rates. $4.S2h and s4.s512; commercial bills
s4s1.
Silver certificates. 5s1a@sokc; bar silver, 5sAc;
Mexican dollars, 1880. At London bar silver
closed quiet at 279sd ounce.
Total sales of stocks yesterday reached $4,000
shares including $500 Atchson, 80, $50 Atchison
preferred, 4,445 Central Pacific 1920 Burlington,
TO- $50 Denver & Rio Grande preferred AGO Lake
Erie & Western, 1O,1OO Louisville & Nashville.
500 Metropolitan, $500 Reading preferred, 1000
Minnesota & st. Louis, 1880 Missouri Pacific
g. 400 Missouri, Kansas & Texas preferred, $500
New York Central, 5000 Northern Pacific, 1920
Northern Pacific preferred 5000 Rock Island,
IT. 600 Union Pacific So 600 ST. Paul. 1900 Texas
& Pacific, 5000 Union Pacific preferred. 1885
Paper, 5000 Tobacco, $1,000 Steel H,O2O Steel
preferred 25,0 Peoples Gas, 1850 General Eec-
trio 9727 Lead 2,72O Pacific Mail, q 600 Sugar,
&c. 300 Leather 5000 Leather preferred, 5,4OO Rub
Der, S,4SO St. Louis & San Francisco, 1920 Chi
cago Great Western.
New York stocks were strong and higher yester-
day. with business well distributed. The i'm
provement in railway quotations was from one
to two points generally and even greater in the
specalties Shifting OF speculative accounts and
proft-taking were at times responsible for fuctu
ations downward. Among the many reasons to
account for the strength were favorable traffic
statements for the third week in December es-
pecially st. Paul, where the gross increase was
over sl75O00 Saturdays good bank statement,
the North Dakota decision in favor of the rail-
roads and continued in the money market.
Moreover. the advance in Americans in London
had Stir although later there
was moderate selling from that quarter on adj
vance here. There continuation of the
tendency to discount January dividend disburse-
ments, a larger proportion of which will remain
in this country than hitherto because of the alb
sorption of large blocks of internationals former
ly owned abroad. The grangers were more largely
traded in than of late at advancing prices, Rock
Island making extreme advance of three
points, St. Paul 49, Burlington IL and the others
a point each. Many orders accumulated over
the holidays were received to buy at the market,
which caused a wide opening in many stocks.
American Steel and Wire stocks about eight
points each and retained the greater part of the
advance. Federal Steel also, both common and
rrferred, was up over two points and eased off
somewhat. Peoples Gas and Brooklyn Transit
was very strong, the latter on the theory that
there would be announcement in January of the
consolidation of the competing lines. Sugar Re-
because of the reported complications in the
trade due to sales direct to the retailers by the
independent companies and a reduction in the
price Of the refined article. The stock lost about
three points at the opening rallied slightly and
closed little above the lowest. Several of the
minor ndustrials and the specialties displayed
strength especially Leather preferred and Lead.
Other stocks whose advances attracted atten-
ton were Norfolk G. Western, Pittsburg, Column
bus, Cincinnati & st. Louis, the Pacifcs Met
ropoitan Street-ralway and Bay State Cas- The
closing was strong, slightly under the best aggre
gate transactions having reached nearly a mill
lion, and establishing the largest total for the
year.
The bond market tended strongly upwards. the
inquiry embracing a marked variety of issues
with substantial improvements. Total sales
s., I50 COO United States threes advanced Il and
tho twos Ii in the bid price.
The following table, prepared by l.. w Louis.
Room II, Board of Trade, shows the range of
quotations: