The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1898-12-14
HEAVY SALE OF STOCKS
NEARLY MILLION SHARES CHANGED
HANDS ON NEW YORK CHANGE.
Prices FIuctuated and Tending Down
ward ON Large ReaIixing-LOcaI
Markets Continue Firm.

At New York yesterday money on call was
steady at 2AG21s per cent last loan. "a per cent.
Prime mercantile paper. SG4 per cent
Sterling exchange frmer. with actual bust
ness in bankers bills at $4S4A@4S4ls for demand
and at $4.s1Ik@4S2 for sixty days; posted rates,
a. S21s and $4.S51z; commercial bills. s4.SOE.
Silver certificates. 5ska6O1zc; bar silver, $3.50;
Mexican dollars. 46sc. At London bar silver
closed dull at q 7-16d ounce.
Total sales of stocks 10000 shares. includ-
ing So255 Atchison, 1880 AtchIson preferred.
1888 Baltimore & Ohio, $500 Central Pacific, 7,4SO
Chesapeake & Ohio, 1920 Burlington. 1855 Cleve-
land. Cincinnati, Chicago & st. Louis, 1850 Dem
yer & Rio Crande preferred. $3.50 Illinois Central
H. 1884 Louisville & Nashville 1880 Manhattan,
52Oe Metropolitan. $500 Hawaiian preferred, a.
Missouri Pacific, S,s4S New York Central 1915
Northern Pacific 5000 Northern Pacific preferred,
15 235 Rock Island, 1885 Union Pacific, 1880 st.
Paul, $500 ST. Paul Omaha, 1900 Southern
Pacific, 10147 Southern Railway, 2l,SS Southern
Railway preferred 1895 Texas & Pacific, 1920
Union Pacific preferred, 27,243 Wabash preferred,
4910 Wheeling & Lake Erie, $3.50 American
Spirits, 1880 Tobacco S,199 Illinois Steel, 81 lis
Illinois Steel preferred, 1880 Peoples Gas, 4,253
General Electric. $3.50 Pacific Mail, 1876 Pullman,
3d. 2O Sugar. 1880 Tennessee Coal and Iron, $3.50
Rubber 20 lis Western Union 5000 Chicago Great
Western.
The New York stock market was irregular yes
terday during de process of digesting large real
izing sales during the current movement, the
prominent railways closing at about the lowest.
The market encountered efforts on the part of
sold-out bulls to depress values and was largely
affected by the Generalization in Sugar. This
stock, which was early supported and gained a
point later declined 5 points reported de-
moralization in the sugar trade. In the early
dealings the moderate fractional advance in New
the public was buying Americans. Subsequently
stocks became quite reactive, but sales, partic-
ularly in the standard stocks. well taken on
actual investment and semi-inVestment pur
chases and covering of short contracts. Rallies
ensued, particularly among the early sufferers,
and around delivery hour gains were considerable.
The Atchson issues recently brought to the front
by prominent interests, were sustaining factors.
The vulnerabity of Sugar was largely respon-
sibe for the extreme irregularity of the market.
The traders hammered this speciality industriousy
and uncovered round amounts of stop-loss orders.
Considerable support was extended to the general
market throughout and pool buying was instru-
mental in lifting into prominence some of the
low-priced stocks which had not yet moved
in proportion to the rest of the list. This was
especially true Of Kansas & Texas preferred and
Wabash preferred. The current earnings of the
Southwestern group have begun to show gains
over last year through the lifting of the cotton
blockade. Missouri Pacific was the only laggard
in this category of shares. prot-taking conspiring
to keep the price well below Mondays level. The
Federal Steel stocks, which had been left some
what were taken in hand later and advanced
materially. General speculation betrayed a good
undertone considering the heavy blocks of realiz-
ing orders which came out after every rally.
London operations were quite extensive, arbtrage
dealings being for both accounts but heavily in
favor of the bulls. Omaha took the initiative in
the final rise in prices and gained three points.
Northwest moved up sympathetically, but the adj
vance in the other granger stocks was not sig
nifcant Speculation left off heavy in tone, with
net changes fractionally either way
The bond market gave a better illustration of
strength than the stock list and although realizing
orders were in force in the speculative issues,
final prices recorded substantial gains in many
cases. Total sales. $4,000 United States
threes, the old tours. coupon, and the twos reg
istered, advanced Is in the bid price.
The following table. prepared by L. w. Louis,
Room H. Board of Trade, shows the range of
quotations: