The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1898-12-09
ACTIVE STOCK MARKET
SALES NEARLY DOUBLE USUAL
AMOUNT AND PRICES HIGHER.
Sugar Trust Shares Strong without
iIy--The Local Trade.

At New York yesterday money on call was
steady at 262la per cent; last loan, 2s per cent
Prime mercantile paper 34Q4 per cent.
Sterling exchange ffmer with actual bust
ness in bankers bills at s4S4lzq4S4s1 for demand
and at s4S1A@4.S2 for sixty days; posted rates,
S4s21b and $4.S5@4Ss commercial bills, $4So1a.
Silver certificates. 591k@6O1ac; bar silver, $50
60c; Mexican dollars, 461ac At London bar silver
closed dull at 271zd an ounce.
Sales of stocks, 42,7CO shares, including 26,1OO
Atchison preferred. 1850 Canada Southern. 1866
Central Pacific. 1O.1O5 Chesapeake e. Ohio, 10,76S
Chicago, Burlington & Quincy, 4O15 Delaware &
Hudson 1916 Louisville & Nashville 1858 Met
ropoltan 1902 Hawaiian preferred, 1920 Mis-
souri, Pacific, 3,7s5 New York Central, $3.50 North
American 6,241 Northern Pacific $3.50 Rock
Island, S,sO5 Union Pacific, 9.212 Union Pacific
preferred o. 234 ST. Paul. 4662 Southern preferred,
S,165 Wabash preferred 1856 Wheeling & Lake
Erie 1880 Tobacco 1853 Federal Steel preferred,
5.292 Peoples Cas- 1898 General Electric. %, 1876
Pacific Mail, 1920 Sugar, Clio Rubber, 1882
Western Union $3.50 St. Louis & Southwestern,
1888 st. Louis & Southwestern preferred, S,O40
Chicago Great Western.
Quotations in the New York stock market rose
the greater part of the day, but in the late deal
ings lost part of the early advance, closing easy,
with slight gains in most stocks. The initial
tendency was hesitatng and timid, perhaps SYM
pathetically with the irregular tone of London,
which was moderate seller of Norfolk & West
ern, Union Pacific and Louisville & Nashville.
The grangers shook off their recent lethargy and
gave confidence to the rest of the list. Americas
strong foreign trade situation. with its probable
effect values interpreted in widely pub
lished optimistic statement of an operator who
usually controls a large following, was not with
out sentimental effect. Reports of improvement
I,Ok1 SI,a hoo 1v11 cOff oil do and he
possibility of the enactment into law of the anti
scalping bill were subjects OF discussion and acted
as a tonic on the railways. Moreover important
interests were openly buyers of properties with
which they are identified, large offerings being
readily absorbed and the market weakened ma
terialIy In the later dealings the grangers re-
ceded sympatheticay with the weakness in
wheat and business slackened until near the
close, when there evidence of weakness in
few railways, although Metropolitan and Brook
Ign Traction continued aggressively strong. Sugar
was very active and strong and rose points
without any new developments in the property
becoming generally known Missouri Pacfc's re-
cent canceling of it's floating Indebtedness
assigned a reason for its rise. A dividend on
the Mobile g. Ohio being asserted as being not
improbable advanced the stock. The heavy bust
ness of the Pacifics in the last hour largely
responsible, together with realizations in other
properties, for the recession in values before the
close.
The easy condition of the money market fur
nishes abundant evidence of the vast amount of
capital seeking investment which is being
employed in the railway miscellaneous bond mar
ket. Transactions in this department were on a
very extensive scale and considerable improve
ment made in many issues. Total sales,
Sc, 4SO 600. United States new fours, coupon, and
the old tours, coupon, advanced * in the bid
price
The following table, prepared by l.. w. Louis,
Room H. Board of Trade, shows the range of
orotatiops.