The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1898-05-03

was steady at 2Q3 per cent; last loan, 2 per
cent.
Prime mercantile paper, 6G71k per cent.
Sterling exchange was steady, With actual
business in bankers bills at 81 1884 for
demand and at $.SOA@4.S1 for sixty days;
posted rates, $4.S112Q4.S2 and Sassy; COM
mercial bills, $3.50.
Silver certificates, 5615@571kc; bar silver,
$3.50; Mexican dollars, 45Ac.
Total sales of stocks were GA 300 shares,
including: Atchison preferred, 1854; Chesa-
peake q Ohio, 1895; Chicago, Burlington &
Quincy, 45,G21; Louisville & Nashville, $3.50;
Manhattan. 2O,47O; Metropolitan. 15,12O;
Reading preferred, 4,2OO; Missouri Pacific,
1858; New York Central, II, $50; Northern
Pacific, A,520; Northern Pacific preferred,
1880; Rock Island, 1850; st. Paul, 60, 100;
Southern preferred, 6,065: Union Pacific pre-
ferred, 81, ESQ; Union Pacific, Denver & Gulf,
1920; Tobacco, p, $50; Chicago Great West
ern, 5,405; Peoples Gas, Il, $50; General Elec-
trio, 1865; Pacific Mail, 3,1S5; Sugar, ,1O4. $40;
Tennessee Coal and Iron, 6,410; Western
Union, 4,416.
Wall street saw a day of speculative ac-
tivity yesterday, and furore which has not
been equaled before this year. There were
many varying phases in the events of the
day. The upward surge of prices at the
PSAAAA was AAlC ny C1lOt tIlO4S LIE l "
realize which carried a loss of from a third
to a, half Of the opening gain. The upward
movement was then renewed and there were
occasional periods of hesitancy afterward,
but no serious reaction. The market closed
in another burst of animation and very
buoyant in tone with prices, except for a
few stocks at the top level. When the mar
ket opened the influential bull operators,
who bought stocks last week in anticipation
pines, stood ready to take their profits. Evil
IDENTIFY the operations of this coterie had
been largest in Sugar, st. Paul and Burling-
ton. They were aware that the news of
Commodore Dewey's victory had brought
large orders to the commission houses to
buy stocks, and they met this outside de-
mand by bidding up prices at the opening as
far as lay in their power. They succeeded
in effecting a jump of CSC in Sugar and of
| about A points in Burlington and St. Paul.
Their heavy selling to realize in these stocks
caused a reaction all through the market.
possible to obtain of the naval battle in
Manila left it a question whether the United
states forces would be able to erect the es-
adjustment of a base for further opera
tons, or whether they would be obliged to
make for home. The London exchange was
closed for a holiday. and Paris was looked
to for a reflection of the foreign view of the
engagement. There was 1rmness in Span
ish fours at that center. the prices having
gained OILS net by the time trading ceased.
These elements of doubt helped the reac-
ton in the first hour, especially that through
British Officia. sources; there grew up a
better appreciation of the scope of the ad-
vantage gained and of its probable effect
In bringing about an early termination of
the war. The volume of outside orders from
all over the country showed a large in
crease as the day progressed, and the de-
mand was so active and confident that the
effect of the early reaction was entirely
overcome. The grangerS and the interna-
tionals showed remarkable strength as
groups and the majority of stocks. those
designated. showed net gains of over 3
points on the day. Even more striking gains
were shown in some special cases. Consoli-
dated Gas rose 8 points, Pullman 92 ex. div
idend and Lackawanna IL points over Sat
urday's bid price. Metropolitan Street-rail-
way and Pittsburg, Cincinnati, Chicago &
st. Louis preferred gained 3 points each,
and Oregon Navigation preferred AZ. Net
radius of 1 to 3 points. h scramble to buy
at the opening was terrific, and Simultan-
eous prices varied from 2 to 3 points in Su-
gar, Burlington. st. Paul and Manhattan.
Speculative activity was at boiling point,
except for a few intervals of comparative
dullness. In the outside market there was
equal strength and activity. Standard Oil
liquidating certificates were the feature, at
an advance of 10 points.
The bond market leaped into. activity
along with stocks and showed notable
strength, the speculative issues leading with
gains of about 2 per cent. Single blocks of
$50. 600 of the Northern Pacific and Atchison
fours changed hands. Total sales, So, 775 900.
United States new tours. coupon, eX.a divi-
dend advanced to 1872. United States new
registered ]. the old fours, registered, and
the fVeS 0he coupons ex. INTEREST,". "a per
cent. in the bid price. United States old
tours, registered. on sales, advanced IA.
and the fives, coupon, ex. interest, II per
cent.
The following table. prepared by L. w.
Louis, Room II. Board of Trade, shows the
| range of quotations.: