The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1898-12-24

Silver certificates, 5s1k@SO1kc; bar silver,
5s3sc; Mexican dollars, 1880. At London bar
silver closed stagnant at 27ssd an ounce.
Total sales of stocks yesterday reached
s73, 400 shares including $3.50 Atchison, II 400
Atchison preferred. 32l3 Central Iowa, $3.50
Central Pacific, 81 ,O23 c., B. & O. 69O2 Dem
yer & Rio Grande preferred, lilo l.. & N,
1880 Manhattan, 1910 Minneapolis & St.
Louis, 49, $50 Missouri Pacific 3,575 NJ, K. &
T. preferred, $685. Northern Pacific, 1,120
Rock Island. 22,93O Union Pacific, 1880 St
Paul, 1850 Southern Pacific, $500 Southern
Pacific preferred, 1870 Union Pacific pre-
ferred, 5,135 Wabash preferred, $50 W. &
L. E., 1880 Paper, S014 American Spirits,
500 American Spirits preferred, 14,220 To-
bacco, 14O 40 Steel, 53357 Steel preferred
GA, $50 Peoples Gas, 1915 Colorado Fuel and
Iron, 12,47O Pacific Mall S2,2SO Sugar, 22,215
Tennessee Coal and Iron, 20,120 Leather,
IS, go Leather preferred 4,495 Rubber 1855
st. Louis & Southwestern preferred, 14,O9O
Chicago Great Western
The New York stock market yesterday
moved in an irregular fashion, but net
changes as a result of the days operations
were fractionally in favor of the advocates
of the long account, very unusual thing on
the eve of a Christmas holiday. The activ>
ity and breadth of the market were well
sustained London was a buyer in the early
dealings but later took profits on the rise.
The action of the government in calling for
the 100000 of Union Pacific payments now
in the depository banks which is to be paid
in 10 per cent. installments, failed to cause a
ripple in the money market. The specula-
ton in Federal Steel issues was on a ire
mendous volume of business, and both COM
mon and preferred rose very sharply, but
in the afternoon on free liquidation and the
withdrawal of the usual support, the stocks
broke, leading to a moderate reaction in
other shares. There was good buying, how
ever, Of Federal Steel on the dip, and this
steadied the general list Sugar, Leather,
Tobacco and American Steel and Wire
showed considerable strength. Rumor had
it that there would be favorable Develop
ments announced in Brooklyn Rapid Transit
before Tuesday and the stock rose points,
but did not hold the extreme rise. The clos
ing was irregular.
The market this week continued in an al
most uninterrupted movement upward for
bonds. although there were daily periods of
depression and recovery. The movement in
q general way verified the street prOVerb,
'As go governments so goes the markets"
| The upward trend in the government mort
cages resulted in some record prices, and
| the general market for stocks and bonds
was likewise strong. Two other street
maxims were not borne out by the course CT
quotations. London's prices are usually an
| index of the trend of the market locally,
and to copper LondonS trades has not
| been regarded the part of wisdom. Then,
| too, the public was contented to enjoy the
| Christmas holidays without realizing paper
| profits, and the reaction before the holi-
days" which is accorded to precedent, failed
| to materialiZe.
Conditions permeating the financial fab
RIGS continue wonderfully favorable to this
| Nation. Bountiful crops sell abroad at re-
munerative and steadily improving prices,
| while the great iron and coal industries are
| getting a grip on the worlds market The
congestion of surplus capital due to Amer
| investment of some $75000,000 used in dis
counting foreign commercial bills, which
the United States assumes the role of a
creditor nation and gives ear to the reported
propositions to float foreign government
loans here. The return of the flow of money
| from the South and West is about due and
| the banks gained on balance at the sub
| treasury. To meet the January dividend re-
hardening tendency, and last Wednesday a
| furry in call money resulted in its being
but enormous offerings quickly brought 1t
| back to ~ per cent The railway traffic re-
ports continue gratifying and gave sub
stantial foundations for rise in some direc-
lions, and seemed to warrant the introduce
ton of many dormant securities to the spec
| ulative and reimbursement public. Small
| reactions and irregularity, due to bear tao
tics. kept trading rather healthy and free
from the danger Of a too sudden imitation.
Scale orders to buy at concessions rallied liz d
held the market in spite of continuous ham,
mering and enormous liquidation, and when
it was found prices would not go down
manipulation ensued for a rise. Toward the
close of the week there was a Discrimination
to be short over the three holidays and
there were large covering purchases. Much
interest was manifested in the dividend dec
larations of the week, but there was no
fange except the neFeas TO per cent be
overSanguine predictions current to the
probable dividend declaration met some Gre
dence In particular cases. owing to the
favorable reports of earnings. The grangers
and the Pacifics were In keen request at
periods and gained substantially. number
of hitherto inactive stocks made considera-
BILE progress upward prominent among which
were Baltimore & Ohio, Lake Erie & West
ern, Minneapolis & st. Louis, and Pittsburg'
mooted Alton deal, there were various ru-
mors of traffic alliances of many roads,
which served to keep unabated the invest
Element of the Central Pacific's government
obligation and subsequent reorganization
results of similar rehabilitatons of railway
properties. The resignation of prominent
officer and director OF the sugar company
brought forth much bear activity. in that
stock which subsequently recovered its loss.
The prosperity of the iron and coal indus
tries was reflected in pronounced activity in
the securities of all kindred securities. Pow
erful interests at times supported such
stocks as Federal Steel, the common making
an extra gam Oh LIZ pei CSIlt, WLIIc lHS ~ e
ferred touched S49s, rise of 81 points. but
both lost about points OF their advance.
The weeks bond market was less active
than the preceding week, and the dealings
were devoid of such a pronounced tone of
strength. Irregularity was very conspicuous
in operations, but the general undertone
nevertheless was very substantial, many is
sues improving to the best prices ever re-
corded for them. United States new threes
and fours advanced H. the old fours, coupon,
49, and old fours, registered, Is in the bid
price.
The following table, prepared by l.. w.
Louis Room II, Board of Trade, shows the
range of quotations.:
Open High Low Clos