The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1898-01-12
STOCKS ACTIVE AGAIN
FOREIGNERS HAVE MORE CONFI-
DENc.- AND PRICES ADVANCE.
Shares Of Northwestern Roni on the
Boom aD2 largely in Demand
Local Markets Quiet.

AT New YORK yesterday money on cali
was easier, with actual transactions rang
ing from 21s to 3 per cent; last loan. 214;
closed bid and asked, z1.G3 per cent
Prime mercantile paper. 9Ag4A per cent.
Sterling exchange was easier, with actual
business in bankers bills at s4.S5G4S51s for
demand and at $4s2ssGI4. S27s for sixty days;
posted rates. s4sSh and s4s6; commercial
bills, s4s2Q4s2lz
Silver certificates, 5714@5Sc; bar silver,
571kc; Mexican dollars, acc. At London bar
silver closed steady at 261zd an ounce.
London operators in American securities
had apparently recovered some of their
confidence in the future values in this coun-
try yesterday after the alarm they had
manifested Monday over our political
future. Some sharp gains were recorded
fer Americans on the London exchange be-
fore the opening at New York In fact, the
London bullishness outran opinion on this
side and New York prices did not respond
fully to the rise in London. The market
all day was one difficult of analysis on ac-
count Of it's unevenness. There were points
OF notable strength and others of marked
weakness in the list and neither was alto
gether effective in giving tone to the mar
ket. Sugar was the special point of weak
ness and the large volume of transactions
in it gave its weakness an influence on the
list. The grangers were also heavy in the
early dealings, though subsequent recover
les brought their prices a fraction above
Mondays close The coalers We're centers
of depression on account of the condition
OF trade and the unreasonable mildness of
the weather On the other hand there was
very striking activity and strength in the
Northern Pacific stocks and in Union Pa
cific. This strength seemed to extend also
to allied and connecting railroads in the
West and Northwest. Thus not only are
Northern Pacific and Union Pacific from
/ to ~ per cent higher, but also Denver
q Rio Grande preferred, Union Pacific,
Denver & Gulf Oregon Navigation, Oregon
Short-line and Oregon Improvement show
gains ranging up TO "a points in Oregon
Navigation. These stocks We're strong on
anticipation of increased traffic from the
expected movement to the klOndike. They
were helped also by the decision of the In
terstate-commerce Commission to continue
the suspension of the long-and-short-h
clause on traffic in competition with Cana
ian railroads The dealings in the stocks
of these transcontinental lines were very
heavy ana transfers of blocks of several
thousand shares in individual transactions
were quite frequent all day Manhattan was
another strong feature of the market on
the authoritative announcement of an IN
tention to change to electric motive power.
Peoples Gas scored a sharp rise. The ONO
soft coal roads showed a continuance OF
activity. Consolidated Gas moved up
points and then fell back f. and Metropoli-
tan Street-railWay closed at Monday nights
figures. Money yielded slightly. but most of
the business of the day was done at per
cent. In the time money market, however,
rates were down to ~ per cent. for sixty
days and from 3 to 31k per cent, for three
to seven months There was an active de-
mand for commercial paper, but the supply
was good. Among the notable movements
of the day were declines of liz in Baitf-
more & Ohio and a rise of points in the
common and preferred stock of Susque-
hanna & Western.
Bond market active; high-grade issues all
showed high prices. There We're several
transactions of par value of 100000. Bust
mesa was we'll distributed, but the Atchison.
Union Pacific, Texas q Pacific and Union
Pacific, Denver & Gulf issues led in point
of activity Total sales, $5,50O,OOo
United States fours registered, are "a
higher and the new tours u higher bid.
The following table. prepared by l. w.
Louis, Room II. Board of Trade, shows the
range of quotations.:
The total sales of stocks at New York
yesterday was 600 shares, including:
Atcsison $40; Chicago, Burlington q
Quincy, 1857; Louisville x Nashville, 6,4S0;
Manhattan $3.50; Metropolitan Street-rail-
way, 4.750: Hawaiian Commercial Company,
$685.: Missouri Pacific 1850; New York Cen
Pacific preferred, 5cS56: Rock Island, $3.50;
St Paul 1882; Union Pacific, z ,0Se; Union
Pacific Denver * Gulf, 5000; Wheeling q
Lake Erie. 10 $50; American Tobacco, $3.50;
Chicago Great Western, $3.50; Peoples Gas,
$3.50; Oregon Improvement Company, 3,625;
Sugar, As, 357: Tennessee Coal and Iron, $3.50;
Western Union, 5,62S.