The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1898-08-17
SHARES in BIG BUNDLES
BOUGHT AND SOLD ON NEW YORK
STOCK EXCHANGE YESTERDAY.
Further Advances i'm May Issues and
General Builish Sentiment Pre-
walls Local Trade

At New York, yesterday. money call
was firm at 115@1% per cent. last loan,
~ prime mercantile paper, 3A04 per cent.
Sterling exchange was steady, with actual
business in bankers bills at $4.S512Q4.S5s4 for
demand, and at $4.S4@484A for sixty days;
posted rates $4841zQ4S5 and $4.S6Q4SS12;
commercial bills, $4.S31k.
Silver certificates, 5Sa4@5915c; bar silver,
595sc; Mexican dollars, Acc. AT London bar
silver closed at 2715d an ounce
Total sales of stocks. 7O6s0O shares. in
GLIDING: Atchison, 1926; Atchison pre-
ferred, 15,625; Chesapeake & Ohio, n,15O;
Chicago, Burlington & Quincy, 1850; Cleve-
land, Cincinnati, Chicago & st. Louis, II, $50;
Beaver & Rio Grande preferred $500;
Louisville & Nashville, 81, 720; Manhattan
q, 500; Missouri Pacific, 1870; Missouri, Kan
sas & Texas preferred, 3,4O0; Northern Pa
cific, 1920; Northern Pacific preferred, 3d.
570 Ontario & Western, 4.615; Rock Island,
1920; st. Louis & San Francisco second
preferred, 3,725; Union Pacific, 1890; ST.
Paul, 33, 120; ST. Paul G. Omaha, 4,495;
Southern, 500; Southern preferred, 17,44O;
Texas & Pacific, 1920; Union Pacific pre-
ferred, 1920; Cotton-seed Oil, 4,7OO; Spirits
$500; Tobacco, 1890; Chicago Great West
ern 6,115; Peoples Gas, 5000 Lead. 4,O50
Coal and Iron, $500; Rubber, 1850; Rub
Der preferred, 6,275; Western Union, 11,1SO.
There was a still further advance in the
autumn price of stocks all along the line
yesterday and still further increase in the
number of shares sold during the day. The
number of different stocks traded in was
also larger, rejecting the broadening inter-
est in the market. Buying orders from out
side sources were placed with commission
houses more extensively than on any day
since the movement began. AS was the case
Monday this outside demand was taken adj
vantage of to realize profits by the COM
bination of large speculative interests,
which is all the time operating on an enor-
nous scale, shifting its activities from one
stock group of stocks to another. The
grangers all showed the effects of realizing
and did not rise materially above Mondays
closing prices at any time. So large were
the offerings of these stocks during the first
hour of trading that the heavy outside de-
mand proved insufficient to absorb them,
and sharp decline was the result, Burling
ton dropping over a point. Offerings on a
large scale were thereupon withheld and the
group maintained firm tone at a lower
level except for intervals of profit taking.
The bears endeavored to take advantage
slaught on Manhattan and Sugar at the
opening, hoping that the recent persistent
weakness of these two stocks would make
| them vulnerable and effective in breaking
prices. But the bulls at the same time
lifted the Northern Pacific stocks point
each at the opening and marked up Rub
Der preferred Az points. The outside de-
mand for stocks all through the list was
so active and varied to lend ample sup
port for continued profit taking by the bull
clique. The bears were soon routed, and
Manhattan and Sugar moved upward along
with the general list. Northern Pacific and
the Union Pacific stocks sagged at inter
walls, but the former returned persistently
to the opening high level. An incident of
the day was a notice on the tape of the loss
of LOCO shares of Union Pacific preferred
in the name of William Rockefeller. New
stocks were constantly being brought for
ward into activity during the day and were
advanced one after the other to a materially
higher level. Southerners and some of the
Western roads which are affiliated with
transcontinental systems showed notable
strength There was also marked activity
and strength in a long list of industrials,
Tobacco, Peoples Gas, Lead, Tennessee
Coal and the Rubber stocks being especial
most of these on profit taking, but they
rallied again before the close The close
was firm and active at only little below
the best and at materially higher level
of prices throughout.
The demand for securities has apparently
been largely diverted to the stock market,
and bonds were comparatively dull, but
prices were very we'll held Total sales,
3577 600 United States threes when issued
were IA lower bid. Government bonds were
otherwise unchanged.
Louis, Room IL Board of Trade, shows the
range of quotations: