The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1898-12-29
STOCK PRICES LOWER
MARKET ACTIVE AND BUSINESS
HEAVY, WITH SELLERS CROWDING.
FURRY in Money Rates Late in the
Day, and Then Recovery
Local Trade quiet.

AT New York yesterday money on call was firm
at 2AG6 per cent; last loan, 2lz per cent.
Prime mercantile paper 3s4a4 per cent.
Sterling exchange was steady, with actual bust
ness in bankers bills at S4s4AG4. S4a for demand
and at $4.s1%0is2 for sixty days; posted rates.
$4S215 and M.S5i4; commercial bills. $4s0%d ASIA.
Silver certificates, 5s1zQ6O1sc; bar silver, 59lsc:
Mexican dollars. 1880. At London bar silver
closed quiet at 81 5-1Od an ounce
Total sales of stocks, S12 700 shares, including
7,145 Atchison, 70. 100 Atchison preferred 1860
Chicago, Burlington & Quincy, $3.50 Denver Il
Rio Grande preferred, 5725 Illinois Central 10, $40
Louisville & Nashville, 1850 Manhattan, 1905
metropolitan. 2S.OlO Reading preferred, 49, 9O Mis-
souri, Pacific, $500 Missouri Kansas & Texas
preferred, 26,32O Northern Pacific, 542O Northern
Pacific preferred, s,42O Reading. 26,O7O Rock
Island, 1890 Union Pacific 3672O st. Paul, $500
Southern preferred. 1920 Texas Pacific, 26, go
Union Pacific preferred, 5000 Wheeling & Lake
Erie 1877 Paper Il, 100 Cotton Oil, $3.50 Amer
lean Spirits, s,72O Tobacco. A02O Steel 1920
Peoples Gas, 6,10O Colorado Fuel and Iron, 6,O15
Lead, 1855 Pacific Mail, 46,O20 Sugar, 500
Tennessee Coal and Iron, 1880 Tennessee Coal
and Iron preferred, 1850 st. Louis & Southwest
ern preferred, 12,41O Chicago Great Western.
Contrary to the course of the stock market for
some weeks, prices showed pronounced decline
on the days trading and this opposed to the
shares balance. The volume of business was
large although up to Tuesdays record
breaking figures. The greater part of the busi-
ness was during the morning rise, while the after
Moons decline was also accompanied by burst
of animation There was no change in the favor
able tenor of the news market, except that the
Vanderbilt reports were not considered up to
bullish expectations The regular dividends were
declared on Vanderbilt stocks and American
Tobacco. Traffic reports generally crafty
ing Burlingtons surplus for November increased
nearly $2S, coo, New Jersey CentraPs net earnings
increased $61OOO while the net increase of
Northern Pacific for five months was over 1898 600
While stocks strong at the opening, New
York prices were not up TO those of London,
where Americans were buoyant. International
Paper, General Electric and other in
dustrials made new high-priced records. The
grangers and coalers were strong. The advance
in the latter stocks, great part of which was
retained throughout, perhaps explained by a
subsequent announcement that anthracite prices
had been ordered advanced at Buffalo and Chi
caeo. 1t became evident that there had been
large realizing sales Tuesdays bulges in prices
and traders attacked the general list with con-
siderable success. Prices rallied somewhat from
the lowest, but a sharp furry in call money
which for time advanced to 6 pr cent, although
subsequently it eased off to about Tuesdays
quotations, gave the bears an opportunity to eff
feet marked declines in prices but the securities
sold were readily absorbed. Sugar was weak
owing to the trade situation, in the early dealings
when the rest of the list strong, and at the
close was an exception to the general weakness
Pittsburg, Columbus, Cincinnati G. ST. Louis was
strong on the idea that the Pennsylvania was to
be unified in manner similar to that in progress
in the Vanderbilts An incident of the specula-
ton at the outset the apparent subsistence Of
interest in Federal Steel. Transactions were in
small amounts and in marked contrast to Tues
days enormous dealings at the opening The
stock soon manifested weakness and late in the
day assumed prominence in the reaction, offerings
being large scale.
The bond market was irregular in spots but
active issues suffered somewhat in the late trans
actions. Total sales S., 100000. United States
tours. coupon, advanced q in the bid price.
The following table. prepared by L. w. Louis
Room IL, Board of Trade. shows the range of
quotations: