The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1898-12-10
ADVANCES IN STOCKS
REMARKABLE DISPLAY OF ACTIV-
ITY AT THE CLOSE ON CHANGE.
Securities in Better Demand and
Railway Shares Were Generally
Righer-LOcaI Trade Steady.

At New York yesterday money on call was
steady at 2Q2l2 per cent; last loan, per cent
Prime mercantile paper SAq4 per cent.
Sterling exchange firm with actual bust
ness in bankers bills at S4S4k@4S4al for demand
and at %.S1A@4.S2 for sixty days; posted rates.
s4.S212 and sissy; commercial bills, $4SOA.
Silver certificates. 591aQ601@c; bar silver. $3.50;
Mexican dollars, 1850. At London bar silver
closed weak at 2714d an ounce.
Total sales of stocks, $40, 100 shares, including
1886 Atchison preferred, 1882 Central Pacific.
5000 Chesapeake & Ohio. 1868 Chicago & Alton,
s,042 Chicago Burlington Quincy, 1850 Louis
vile & Nashville. 14,209 Manhattan, 1912 Met
ropolitan, 1920 Hawaiian preferred. 70.950 Mis-
souri, Pacific, 1890 Missouri, Kansas & Texas pre-
ferred 1850 Northern Pacific. 5000 Rock Island.
300 Union Pacific. s.72O st. Paul. $50 Southern
preferred, 5,e45 Texas & Pacific 5,967 Union
Pacific preferred $3.50 Wabash preferred. 2S,6s6
Tobacco 1885 Steel preferred, 1856 Peoples Gas,
9,515 Lead, 66,SS7 Sugar $50 Leather, 16.O57
Leather preferred, $3.50 Western Union.
New York stocks rose materially yesterday
and left off at the best with a remarkable dis
play Of activity and strength. The opening was
firm accompanied by great activity, ignoring the
shaded price of the London market Manipulation
of the high-priced industrials caused considerable
advance in these specialties. Railways responded
only feebly for the time being, but later became
the leaders Of the market. Purchases of high
priced usually dormant stocks and other gen.
orally neglected issues of a lower value enlarged
the scope of trading and from time to time at
tracted attention when dealing in the general
market was sluggish and devoid of feature. Des
Moines & Fort Dodge was lifted 2& per cent,
Chicago Alton 4 and Edison Illuminating 6
points. The leading feature of the railway list
was Missouri Pacific, which developed unusual
activity and buoyancy which carried up it's shares
35s. The mortgages of the road also showed ag-
gressive strength, the consol skies rising points
and the collateral fves points The buoyancy
Of these securities attributed in part to the
operations of bull pool and favorable comment.
influenced b. the recent cancellation of the COM
panys floating indebtedness. The bulls had COM
plete control of the market and although the pre-
ponderance of dealings in the specialties during
the forenoon, coupled with their market rreg-
ularity served to diminish trade in the standard
stocks, persistent efforts were made to advance
the prominent railways which met with consid-
cradle success in the final hour Rock Island
started the rise and the inquiry quickly extended
to the rest of the granger group and other special
ties which had been neglected during the day.
The shorts frightened by the decided
strength of the market and covered extensive
lines in many properties, which gave buoyant
tone to the closing.
The bond market broadened materially and
round amounts of various issues found ready
market at advanced prices Total sales, 81 $50 O0O
United States old tours, registered, and the twos
registered, advanced Is in the bid price.
The following table, prepared by L. w Louis
Room H. Board of Trade, shows the range Of
quotations: