The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1898-12-21
STOCK BUSINESS ACTIVE
STRONG UNDERGONE IN ALL SHARES
AND SMART ADVANCES.
Sugar Trust Leads the Market, with
AtchisOn Chose Up--LOcal Trade
still Booming.

At New York yesterday money on call closed
steady at 2lS4 per cent: last loan. 2s5 per cent.
Prime mercantile paper. S@2A per cent
Sterling exchange was hrmer with actual busi-
ness in bankers bills at $4.s4a404S5 for demand
and at s4.s124@4.S2 for sixty days; posted rates,
$4s21s and SASSY; commercial bills. s4.sO15Q4s1A.
Silver certificates 5911G6Olkc bar silver. $3.50;
Mexican dollars, 469sc. At London bar silver
closed weak at q 7-16d an ounce.
Total sales of stocks were 61050O shares, in
Guiding 1850 Atchison 80 $50 Atchison preferred,
A. 42O Central Pacific. 1920 Chicago. Burlington &
Quincy, 5000 Denver & Rio Grande preferred,
$500 Lake Erie & Western, 5,456 Lake Erie &
Western preferred $500 Northern Pacific, 1920
Rock Island $4,000 Union Pacific, $3.50 Union
Pacific preferred, $500 st. Paul. 14,615 Southern
Pacific, 5000 Southern, 11,92O Southern preferred.
5,130 Texas & Pacific, 1900 Paper preferred, $500
Tobacco. 1890 Federal Steel 1850 Federal Steel
preferred g. 400 Peope's Gas, 5,72O Colorado Fuel,
6,56S Pacific Mail. 1OS O2O Sugar 1895 Tennessee
Coal and Iron 5,215 Chicago Great Western.
The stock market. after irregular course,
left off strong, the best gains ranging from two
to four points in some of the sDecialtes while
the betterment in standard shares was fractional
The market lacked decided tone at the opening
in sympathy with irregula1ity of Americans in
London, where there was evidence of some real
izng sales Chicago & Alton. Biscuit preferred
first stocks to display strength Missouri Pacific
Federal Steel and Sugar in succession began to
rise and tended to check an otherwise weak and
hesitating market Union Pacif1cs, in common
with the other international stocks suffered
somewhat for time the realizing sales from
abroad. After l O'Clock trading gradually took
the long side. Sugar boosted up on the shorts
and on large transactions rose nearly five points
Favorable weekly earnings were responsible for
rise in Southern Railway preferred. A very strong
movement in the late trading in the Atchison
issues was transferred to Federal Steel and Bald-
more & Ohio and gradually helped the whole list.
Interests identified with the trade were large
purchases OF Federal Steel, while the purchase
of Atchison was made in the hope of some favor
able action at to-days directors meeting. The
expectation of an early announcement of Central
Pacific reorganization plan was responsible for
rise in that stock of about four points. Manipu-
lative orders helped in marking up American
Steel and Wire Minneapolis & St. Louis stocks
continued their recent notable advance. The
stories about the local gas controversies settle
ment instrumental in lifting Consolidated
Gas While the transactions of the day
not up to the recent tremendous volume of bust
ness, the greater amount of activity for the day
developed in the closing hours, while the market
was moving upward. Call money which for
some time has been ruling at 2Q21a was bid up
to Az per cent, which was paid for a small loan
in the last half hour and directly afterward there
good-sized loan at per cent but the
furry quickly ended by large amounts of
money offered and the rate dropped to 21s per
cent. the closing price. This incident had no
effect the market, which continued to rise
sharply.
Transactions in bonds showed marked con-
traction in dealings and speculation was very
erratic. Total Sales So, 100000. United States
new tours. registered, advanced q, the coupon u
and the threes and old fours coupon, Is in the
bid price.
The following table. prepared by L. w. Louis.
Room IL, Board of Trade, shows the range of